Neurovascular Devices Industry Overview

The global neurovascular devices market size was valued at USD 2.84 billion in 2022 and is anticipated to expand at a CAGR of 6.01% during  the forecast period.

The neurovascular devices market is likely to be driven by the increasing prevalence of neurological illnesses, technological developments, and increased demand for minimally invasive procedures.

Interventional neurology devices are used to diagnose and treat central nervous system and brain vascular disorders. Endovascular, catheter-based procedures, angiography, and fluoroscopy are all part of the interventional neurology. Catheter angiography is one of the oldest in-vivo brain vascular imaging techniques used to diagnose a variety of neurological diseases including cerebral aneurysm, arteriovenous malformations, intracranial stenosis, arteriovenous fistula, and vasculitis.

Gather more insights about the market drivers, restrains and growth of the Neurovascular Devices Market

Increase in incidences of neurological disorders such as brain/ cerebral aneurysm, strokes, epilepsy amongst many others in several countries is expected to drive the neurovascular devices market growth. According to the NHS England, around 1 in 12,500 people in England have ruptured brain aneurysm every year. Furthermore, brain aneurysm affects approximately 3.0% of the persons in the U.K.. Furthermore, the Brain Aneurysm Foundation estimates that 6.0 million Americans are impacted by brain aneurysms each year.

Every year, the disease kills half a million people globally. Approximately 40.0% of ruptures result in death and approximately 66.0% of those who survive has some permanent brain damage. Thus, the rapidly and vast growing patient population base for the target diseases across the key markets is primarily responsible for the significant volume consumption of neurovascular devices, leading to the market growth.

A slew of potential new technologies, merger and acquisitions in the neurovascular space are on the horizon. For instance, in October 2022, the Medtronic Neurovascular Co-Lab Platform was created to help speed much-needed innovation in stroke treatment and care. Their community platform aims to transform ideas and technology into breakthrough global medicines by giving entrepreneurs and physicians with insight and care, and, most importantly, ensuring that innovation reaches as many people as possible around the world. As a result, the availability of new treatment choices and an expanding variety of tactics will drive up demand for the neurovascular devices in the coming years.

Minimally invasive surgeries are gaining popularity owing to the reduced risk and trauma associated with these procedures. Smaller incisions decrease postoperative pain and facilitate speedy recovery leading to high adoption of these procedures and triggering growth of R&D in this field. Several key players are investing in R&D for the launch of innovative minimally invasive surgical instruments. The endovascular coiling used for the treatment of intracranial aneurysm is one of the minimally invasive procedures that are widely recommended by the physicians. In this procedure, a microcatheter is inserted in the groin area through the artery consisting an aneurysm. Platinum coils are then released as the coil promotes clotting of aneurysm and prevents blood from entering other regions of the brain.

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• The global endoscopy procedures estimates market size was approximately 188.29 million procedures in 2023 and is projected to grow at a CAGR of 1.39% from 2024 to 2030.
• The global microcatheter market size was estimated at USD 2.09 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.52% from 2024 to 2030.

Neurovascular Devices Market Segmentation

Grand View Research has segmented the global neurovascular devices market based on the device, therapeutic application, size, end use, and regions:

Neurovascular Devices Device Outlook (Revenue USD Million; Volume Unit; 2018 - 2030)

• Cerebral Embolization and Aneurysm Coiling Devices
  • Embolic coils
  • Flow diversion devices
  • Liquid embolic agents
• Cerebral Angioplasty and Stenting Systems
  • Carotid artery stents
  • Embolic protection
• Neurothrombectomy Devices
  • Clot retrieval devices
  • Suction devices/aspiration catheters
  • Vascular snares
• Support Devices
  • Micro catheters
  • Micro guide wires
• Trans Radial Access Devices

Neurovascular Devices Therapeutic Application Outlook (Revenue USD Million; 2018 - 2030)

• Stroke
• Cerebral Artery
• Cerebral Aneurysm
  • Aneurysmal Subarachnoid Hemorrhage
  • Others
• Others

Neurovascular Devices Size (in Inches) Outlook (Revenue USD Million; 2018 - 2030)

• 027"
• 021"
• 071"
• 017"
• 019"
• 013"
• 058"
• 068"
• Others

Neurovascular Devices End Use Outlook (Revenue USD Million; 2018 - 2030)

• Hospitals
• Specialty Clinics
• Others

Neurovascular Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Norway
  • Denmark
  • Sweden
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

Key Companies profiled:

• Medtronic
• Johnson and Johnson Services Inc.
• Penumbra, Inc.
• Micro port Scientific Corporation
• Stryker
• Microvention Inc. (Terumo Corporation)
• Codman Neuro (Integra Life sciences)

Key Neurovascular Devices Company Insights

Key market players are focusing on the launch of innovative types of medical devices, growth strategies, and technological advancements. For instance, in April 2022, MicroVention, Inc., a Terumo Corporation wholly owned subsidiary, announced the completion of its first enrollment in STRAIT, a multi-center, prospective observational EU study to evaluate the performance and safety of the BOBBY balloon guide catheter for endovascular treatment of acute ischemic stroke.

In North America and Europe, the BOBBY Balloon Guide Catheter is currently approved. It was designed to improve compatibility and navigability with the SOFIA Plus 6Fr Aspiration Catheter while also simplifying balloon preparation. These advancements in neurovascular devices market are anticipated to boost the market growth during  the forecast period. 

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