SEATTLE, March 15, 2021, (MEDGADGET) — According to the latest report, the global interventional neurology market is projected to accumulate USD 2,684.6 million, in terms of market revenue, by 2024. The latest recommendations by the American Heart Association and the American Stroke Association on using various neurointerventional devices in cases of stroke is a significant factor boosting the global interventional neurology market growth. Owing to the recommendations by these prestigious healthcare organizations, the global demand for neurointerventional devices has significantly risen over the recent years.
The surging demand for minimally invasive procedures is one of the primary factors boosting the adoption of neuro interventional devices worldwide. All the aforementioned factors provide highly lucrative growth opportunities to the global interventional neurology market. Thus, in order to capitalize on these opportunities, manufacturers in this market have recently introduced an all-new range of products, such as Solitaire stent retriever, EmboTrap stent retriever, and Penumbra 3D Revascularization devices.
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Several developed economies around the globe, including the U.S., Canada, Australia, Japan, and Germany, and the U.K., have observed a speedy shift in preferences from the conventional surgical methods to the new minimally invasive therapies for neurological disorders. Additionally, manufacturers are increasingly adopting detachable and bare platinum coils in place of the highly priced coated coils for manufacturing the neurointerventional devices.
The Brain Aneurysm Foundation reported that around six million people in the U.S. are found to be suffering from brain aneurysm each year. Also, a high incidence rate of stroke and aneurysm would continue amplifying the demand for neurointerventional devices in the U.S. interventional neurology market, as reported by the same source.
The leading players operating in the global interventional neurology market are currently seen adopting various organic and inorganic growth strategies to broaden their product portfolios and expand their geographical presence across the market. For instance, Codman & Shurtleff, Inc. signed a distribution agreement with InNeuroCo. Inc., in 2016, for the supply of intermediate catheter and super distal access devices to the U.S. and European markets. Furthermore, Medtronic PLC acquired Lazarus Effect, a California-based medical devices company offering acute ischemic stroke products, in 2015, with the objective to expand the company’s neurovascular business and related portfolio.
Technological advancements, coupled with innovations in neurointerventional devices, are foreseen to provide more accurate surgical outcomes. This, in turn, would potentially fuel the demand for neurointerventional devices worldwide, and further bolster the global market development. For instance, the Medical University of South Carolina (MUSC) examines safety and efficacy of the ADAPT – direct-aspiration first pass technique, which is intended for the removal of clots in a single pass.
The Food and Drug Administration (FDA) recently approved of Medtronic’s solitaire stent retriever device, which is intended for the treatment of stroke-related disabilities, such as large vessel occlusion, proximal anterior circulation, and smaller core infarcts. Furthermore, the CE reportedly approved of the EmboTrap stent retriever platform, as well as the EmboTrap II Revascularization Device by Neuravi Ltd. these devices are intended for the easy removal of clots of varying lengths.
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Key Market Takeaways:
A wide range of neurointerventional devices, including embolic coils, carotid stents, intracranial stents, neurovascular thrombectomy devices, embolic protection devices, and flow diverter devices, have been launched in the global interventional neurology market in the recent past. The embolic coils segment emerged as the largest segment, accounting for a 32.5% share, in terms of revenue, in 2015. This segment grew significantly, as this device serves as the mainstay of endovascular treatments for brain aneurysms and hemorrhage. However, the demand for stent retrievers is expected to augment rapidly over the forecast period, owing to the fact that these devices are employed as a one-step technique for clot removal. These devices are likely to gain major traction in Japan, which would contribute to the growth of the interventional neurology market in Asia Pacific.
In 2015, North America dominated the global Interventional neurology market, accounting for a significant market share of US$ 701.9 million. A high incidence rate of brain aneurysm and ischemic strokes, coupled with favorable government policies, such as Medicare and Medicaid, implemented in this region, is expected to bolster the regional market expansion.
It was analyzed that the demand for neurointerventional devices is higher among hospitals, as compared to that among ambulatory centers, owing to the rising number of surgical procedures performed in hospitals. Thus, the hospital end-use segment is estimated to expand significantly during the forecast period, exhibiting a CAGR of 5.2%. The Trevo XP ProVue Retriever by Concentric Medical, a subsidiary of Stryker Corporation, received the FDA approval in November 2016. Furthermore, the Penumbra 3D Revascularization Device Trial successfully met the primary trial endpoints in the same year.
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Table of Contents
- Research Objective and assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet By Product Type
- Market Snippet By Technique
- Market Snippet By Therapeutic Application
- Market Snippet By End-Use
- Market Snippet By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Epidemiology/Prevalence/Incidence
- Merger and Acquisitions
- New Product Approvals/Launch
- Promotion and Marketing Initiatives
- Drivers
- Cost Tier Down Analysis
- Market Dynamics
- Global Interventional Neurology Market, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Introduction
- Market Share Analysis, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, 2014 – 2024
- Segment Trends
- Embolic Coils
- Cartoid Stents
- Intracranial Stents
- Neurovascular Thrombectomy Devices
- Embolic Protection Devices
- Flow Diverters Devices
- Intrasaccular Devices
- Liquid Embolic Devices
- Balloons
- Stent Retrievers
- Introduction
- Global Interventional Neurology Market, By Technique, 2014 – 2024 (USD Million)
- Introduction
- Market Share Analysis, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, 2014 – 2024
- Segment Trends
- Neurothrombectomy Procedure
- Cerebal Angiography Technique
- Stenting Technique
- Coiling Procedure Technique
- Flow Disruption Technique
- Introduction
- Global Interventional Neurology Market, By Therapeutic Application, 2014 – 2024 (USD Million)
- Introduction
- Market Share Analysis, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, 2014 – 2024
- Segment Trends
- Brain Aneurysm
- Ischemic Strokes
- Artery Stenosis
- Vein Stenosis
- Others
- Introduction
- Global Interventional Neurology Market By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Introduction
- Market Share Analysis, 2015 and 2024 (USD Million & ‘Thousand Units)
- Y-O-Y Growth Analysis, 2014 – 2024
- Segment Trends
- Hospitals
- Ambulatory Centers
- Introduction
- Global Interventional Neurology Market, By Regions, 2014 – 2024 (USD Million & ‘Thousand Units)
- Introduction
- Market Share Analysis, By Region, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, For Regions, 2014 – 2024
- North America
- Market Share Analysis, By Country, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, By Country, 2014 – 2024
- U.S.
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Canada
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- U.S.
- Europe
- Market Share Analysis, By Country, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, By Country, 2014 – 2024
- U.K.
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Germany
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Italy
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- France
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Russia
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Others
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units
- U.K.
- Asia Pacific
- Market Share Analysis, By Country, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, By Country, 2014 – 2024
- China
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- India
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Japan
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- ASEAN
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Australia
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- South Korea
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Others
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- China
- Latin America
- Market Share Analysis, By Country, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, By Country, 2014 – 2024
- Brazil
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Mexico
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Others
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Brazil
- Africa
- Market Share Analysis, By Country, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, By Country, 2014 – 2024
- Northern Africa
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Central Africa
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- South Africa
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Northern Africa
- Middle East
- Market Share Analysis, By Country, 2015 and 2024 (%)
- Y-O-Y Growth Analysis, By Country, 2014 – 2024
- GCC Countries
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- Israel
- Country Trends
- Market Size and Forecast, By Product Type, 2014 – 2024 (USD Million & ‘Thousand Units)
- Market Size and Forecast, By Technique, 2014 – 2024 (USD Million)
- Market Size and Forecast, By Therapeutic Application, 2014 – 2024 (USD Million)
- Market Size and Forecast, By End-Use, 2014 – 2024 (USD Million & ‘Thousand Units)
- GCC Countries
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3×3 Matrix)
- Company Profiles
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
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