Ischemic Neurological Interventional Medical Devices Market will grow at 5.6% CAGR, to be valued at US$ 3,431.0 Mn by 2030 | Global Industry Analysis by Company Profiles, Segments, Size and Key Players like Stryker, Johnson & Johnson Private Limited

Electronic items with a medical purpose and a medical claim are known as medical devices. The list of medical devices also contains x-ray machines, medical lasers, and kits for neurological intervention. Strokes, brain aneurysms, vascular malformation in the brain, spine, and artery disorders are just a few of the conditions that can be treated with neuro-interventional devices, which are catheter-based, minimally invasive techniques. For ischemic stroke, various neuro-interventional device types such flow diverters, stents, and aspiration devices are primarily used. Ischemic and hemorrhagic strokes are the two primary types. The most frequent type of stroke is ischemic, which is typically brought on by blood clots that block brain blood arteries. For the diagnosis and treatment of ischemic stroke, several neuro-interventional technologies such as aspiration devices, stenting systems, clot retrievers, and lasers are used. The surgical treatments used to remove a build-up of fatty acids or a thrombus to improve the blood flow through the face, neck, and brain include mechanical thrombectomy and carotid endarterectomy. Since blocked blood vessels are the cause of ischemic strokes, there are several ways to prevent them, including managing high blood pressure, reducing the quantity of cholesterol and saturated fat in the diet, managing a nutritious diet, and consuming foods high in nutrients, such as fruits and vegetables. There are numerous factors that increase the risk of stroke, such as the use of hormone therapy in adults over the age of 55.

The market for ischemic neurological interventional medical devices is anticipated to reach US$ 2,212.7 million in 2022 and grow at a 5.6% CAGR during the projected period (2022-2030).

Market Drivers

Over the forecast period, the global market for ischemia neurological interventional medical devices is anticipated to increase due to key companies’ growing attention on R&D to boost their market presence in the international market. For instance, data from the Centers for Disease Control and Prevention (CDC) showed that 1 in 6 fatalities from cardiovascular disease were caused by stroke in October 2020.

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The global market for ischemia neurological interventional medical devices is anticipated to rise over the course of the forecast period as a result of key players’ increased new launches and product approvals intended to increase their market share in the global market. For instance, the medical device company VESALIO, LLC. announced in September 2022 that their new NeVa NET, which combines micro-filtration technology with NeVa’s Drop Zone technology to create a unique stent retriever and maximise clot retention for rapid and efficient recanalization of ischemic stroke, had received the Conformitè Europenne (CE) Mark approval.

Impact

Three key ways that COVID-19 can effect the economy are directly impacting the manufacture and demand of medical devices, disrupting the flow of goods through distribution networks, and having an economic impact on businesses and financial markets. Many nations, including China, India, Saudi Arabia, the United Arab Emirates, Egypt, and others, are having difficulty moving electronics from one location to another as a result of nationwide lockdowns.

The COVID-19 pandemic has had an influence on the whole healthcare supply chain, mostly as a result of the extreme lockdown in some areas.

The market for neurological interventional medicine has been negatively impacted by the COVID-19 epidemic. For instance, a paper published in August 2021 by the American Heart Association, Inc. suggested that COVID 19 infection increases the risk of mortality and morbidity in patients with vascular risk factors like diabetes, stroke, obesity, and hypertension. Conversely, patients with ischemic stroke and COVID 19 infection have more severe strokes.

Key Developments

The NeVa stent retriever, a device used to remove the thrombus in patients with ischemic stroke, is one example. VESALIO, LLC., a company treating stroke and vascular occlusions, started a clinical trial to assess the safety, performance, and efficacy of the device in April 2021. The trial will be finished in December 2022.

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Over the forecast period, the market expansion is anticipated to be driven by rising research and development efforts for the creation of ischemia neurological interventional medical devices and technologies. For instance, the pace of advancements and the anticipated trials with the results of acute ischemic stroke were the focus of STROKE: Vascular and Interventional Neurology, an article published on behalf of the American Heart Association, Inc., and the Society of Vascular and Interventional Neurology by Wiley Periodicals LLC in January 2022.

Market Restraint

There are more premature terminations and withdrawals of clinical trials due to failure to submit the results by the deadline, insufficient subject participation, device modification, protocol amendments, etc. as there are various trials for neurological interventional devices for ischemic stroke ongoing.

For instance, a clinical trial using the WOLF thrombectomy device, used to remove thrombus, for ischemic stroke was halted in January 2020 due to inadequate subject recruitment. The goal of the study was to assess the WOLF Thrombectomy Device’s technical performance and safety when used to remove thrombi or as a supplement to intravenous tissue plasminogen activator (TPA) and/or other conventional thrombectomy techniques.

Market Key Players

The market for ischemic neurological interventional medical devices is dominated by companies like Wallaby Medical, Stryker, Integer Holdings Corporation, Johnson & Johnson Private Limited, and Penumbra, Inc. Medtronic, , KANEKA COPORATION, Sense Neuro, MicroPort Scientific Corporation, VESALIO, LLC, W. L. Gore & Associates, Inc., 880 Medical, LLC, Terumo Corporation, and Imperative Care are just a few of the companies that make up the industry.

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