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Neuro-intervention uses minimally-invasive, catheter-based approaches to treat specific diseases of the blood vessels of head, neck and spine. The most common conditions treated with neuro-interventional devices include strokes, brain aneurysms, fistula, and vascular malformation formed in the brain & spine, and carotid artery diseases. Moreover, neuro-interventional devices are also used in the treatment of various other health conditions such as transient ischemic attacks (TIA), cerebral artery stenosis, vertebral artery disease, compression fractures, and venous malformation of neck & head. There are various types of neuro-interventional devices such as embolic coils, flow diverters, neurovascular stents, support devices, aneurysm clips, aspiration devices, and support devices, useful in performing neurosurgeries.

The global neuro-interventional devices market is estimated to be valued at US$ 2,216.7 million in 2021 and is expected to exhibit a CAGR of 5.0% during the forecast period (2021-2028).

Figure 1. Global Neuro-interventional Devices Market in Terms of Value (US$ Million), By Region, 2021

Neuro-interventional Devices  | Coherent Market Insights

Increasing prevalence of neurovascular diseases such as brain aneurysm, intracranial stenosis, arteriovenous fistula, stroke, and traumatic brain injuries is expected to propel the growth of the global Neuro-interventional devices market during the forecast period.

Rising incidence of neurovascular diseases such as brain aneurysm and traumatic brain injuries is expected to drive the market growth. For instance, in 2020, according to the Brain Aneurysm Foundation report, there are around 500,000 deaths worldwide every year caused by brain aneurysms; from which half the victims are younger than 50 years of age. In addition, in April 2019, according to the Journal of Neurosurgery, 69 million people worldwide are estimated to suffer from traumatic brain injuries (TBI) annually.

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Neuro-interventional Devices Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 2,216.7 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.0% 2028 Value Projection: US$ 3,202.9 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Embolization Coils, Carotid Stents, Intracranial Stents, Neurovascular Thrombectomy, Flow Disruption, Flow Diverters, Intrasaccular Devices, Liquid Embolic Coils, Balloons, Stent Retrievers
  • By Technique: Neurothrombectomy Procedure, Cerebral Angiography, Stenting, Coiling Procedures, Flow Disruption
  • By End User: Hospitals, Clinics, Ambulatory Surgical Centers
Companies covered:

Penumbra, Inc., Stryker Corporation, Medtronic PLC., Johnson & Johnson Services, Inc., Terumo Corporation, Insera Therapeutics Inc., Anaconda Biomed S.L., and Perflow Medical Ltd.

Growth Drivers:
  • Increasing prevalence of neurovascular diseases such as brain aneurysm, intracranial stenosis, arteriovenous fistula, stroke, and traumatic brain injuries
  • Increasing strategic distribution agreements between key market players
Restraints & Challenges:
  • Frequent product recalls and  high cost of neurointerventional devices

Figure 2. Global Neuro-interventional Devices Market Share (%), By Product Type, 2021

Neuro-interventional Devices  | Coherent Market Insights

Increasing agreements between major market players is expected to propel the market growth over the forecast period

Increasing agreements between key market players is expected to propel the global neuro-interventional devices market growth over the forecast period. For instance, in August 2020, Cerus Endovascular Ltd., a commercial-stage medical device company and AB Medica  Deutschland  Verwaltungs  GmbH,  an  entirely  owned  subsidiary  of  Balt, entered  into  a  strategic distribution agreement for innovative neurovascular devices to treat a range of intracranial aneurysms. The agreement offered the exclusive rights to market and sell the newly CE (Cerus Endovascular) marked Contour Neurovascular System and the Neqstent Coil Assisted Flow Diverter devices in Germany to AB Medica.

Global Neuro-interventional Devices Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019 in Wuhan, China. The coronavirus (COVID-19) pandemic has a devastating influence on the lives of many families across the world, as well as healthcare institutions and the global economy. The World Health Organization declared COVID-19 a pandemic on March 11, 2020.

Neuro-interventional devices are required for stroke and brain aneurysms surgeries, which might be delayed due to the pandemic. Due to the ongoing pandemic, brain surgeries often get delayed or even cancelled for many patients. According to a study published in the National Center for Biotechnology Information, in July 2020, neurosurgical care has been impacted by COVID-19. Elective surgical procedures had to be cancelled so that operation theater staffs and operating equipment can be deployed for critical care.

Global Neuro-interventional Devices Market: Restraint

Frequent product recalls and high cost of neuro-interventional devices are expected to hamper the market growth during the forecast period. Due to technical faults, the U.S. Food and Drug Administration (FDA) often recalls neuro-interventional devices, which is expected to hamper the global neuro-interventional devices market growth during the forecast period. Moreover, manufacturers are engaged in product development and innovation that results in increased cost of neuro-interventional devices. The high cost associated with devices lead to high treatment cost making it unaffordable to patients who are suffering from nervous system-related diseases or disorders.

Key Players

Major players operating in the global neuro-interventional devices market include Penumbra, Inc., Stryker Corporation, Medtronic PLC., Johnson & Johnson Services, Inc., Terumo Corporation, Insera Therapeutics Inc., Anaconda Biomed S.L., and Perflow Medical Ltd.

Interventional neuroradiology (INR), also known as neuro-interventional surgery (NIS), is a medical subspecialty of neurosurgery, neurology, and radiology, which focuses on minimally invasive image-based technologies and processes. It is used for diagnosis and treatment of diseases related to spine, head, and neck. The products included in neurointerventional devices consist of clips, stents, and coils. These are utilized for treating of various neurovascular disorders such as cerebral artery stenosis, brain aneurysms, brain arteriovenous malformation (AVM), carotid-cavernous fistula (CCF), dural arteriovenous fistula (dAVFs), and extracranial (brachiocephalic) atherosclerosis. Minimally invasive procedures are used for variety of treatments such as stroke treatment by delivering clot-busting drugs directly to the site of the blockage, spinal treatments by injecting bone cement into a fractured vertebra in order to reinforce the bone, and aneurysm therapy by inserting platinum coils into the aneurysm bulge to prevent clotting and rupture.

Market Dynamics

Market players are focusing on new product launches, which is expected to propel the global neuro-interventional devices market growth during the forecast period. For instance, in ecember 2019, Imperative Care, Inc., a biotechnology company completed the initial closing of a Series C financing of US$ 85 million to support the commercial launch of the company’s portfolio that includes the latest advancement in neurovascular devices used for the treatment of ischemic and hemorrhagic strokes. The company received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for access catheters which helps in smooth and consistent navigation into blood vessels of the brain. The company also received U.S. FDA clearance for its ZOOM Aspiration System, designed to simplify clot removal during ischemic stroke.

Key features of the study:

  • This report provides an in-depth analysis of the global neuro-interventional devices market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global neuro-interventional devices market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, strategies
  • Key companies covered as a part of this study include Penumbra, Inc., Stryker Corporation, Medtronic PLC., Johnson & Johnson Services, Inc., Terumo Corporation, Insera Therapeutics Inc., Anaconda Biomed S.L., and Perflow Medical Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global neuro-interventional devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have an ease in decision-making through various strategy matrices used in analyzing the global neuro-interventional devices market

Detailed Segmentation:

  • Global Neuro-interventional Devices Market, By Product Type
    • Embolization Coils
    • Carotid Stents
    • Intracranial Stents
    • Neurovascular Thrombectomy
    • Flow Disruption
    • Flow Diverters
    • Intrasaccular Devices
    • Liquid Embolic Coils
    • Balloons
    • Stent Retrievers
  • Global Neuro-interventional Devices Market, By Technique
    • Neurothrombectomy Procedure
    • Cerebral Angiography
    • Stenting
    • Coiling Procedures
    • Flow Disruption
  • Global Neuro-interventional Devices Market, By End User
    • Hospitals
    • Clinics
    • Ambulatory Surgical Centers
  • Global Neuro-interventional Devices Market, By Region:
    • North America
      • By Product Type
        • Embolization Coils
          • Carotid Stents
          • Intracranial Stents
          • Neurovascular Thrombectomy
          • Flow Disruption
          • Flow Diverters
          • Intrasaccular Devices
          • Liquid Embolic Coils
          • Balloons
          • Stent Retrievers
      • By Technique
        • Neurothrombectomy Procedure
        • Cerebral Angiography
        • Stenting
        • Coiling Procedures
        • Flow Disruption
      • By End User
        • Hospitals
        • Clinics
        • Ambulatory Surgical Centers
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By  Product Type
        • Embolization Coils
          • Carotid Stents
          • Intracranial Stents
          • Neurovascular Thrombectomy
          • Flow Disruption
          • Flow Diverters
          • Intrasaccular Devices
          • Liquid Embolic Coils
          • Balloons
          • Stent Retrievers
      • By Technique
        • Neurothrombectomy Procedure
        • Cerebral Angiography
        • Stenting
        • Coiling Procedures
        • Flow Disruption
      • By End User
        • Hospitals
        • Clinics
        • Ambulatory Surgical Centers
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product Type
        • Embolization Coils
        • Carotid Stents
        • Intracranial Stents
        • Neurovascular Thrombectomy
        • Flow Disruption
        • Flow Diverters
        • Intrasaccular Devices
        • Liquid Embolic Coils
        • Balloons
        • Stent Retrievers
      • By Technique
        • Neurothrombectomy Procedure
        • Cerebral Angiography
        • Stenting
        • Coiling Procedures
        • Flow Disruption
      • By End User
        • Hospitals
        • Clinics
        • Ambulatory Surgical Centers
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Embolization Coils
          • Carotid Stents
          • Intracranial Stents
          • Neurovascular Thrombectomy
          • Flow Disruption
          • Flow Diverters
          • Intrasaccular Devices
          • Liquid Embolic Coils
          • Balloons
          • Stent Retrievers
      • By Technique
        • Neurothrombectomy Procedure
        • Cerebral Angiography
        • Stenting
        • Coiling Procedures
        • Flow Disruption
      • By End User
        • Hospitals
        • Clinics
        • Ambulatory Surgical Centers
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type
        • Embolization Coils
          • Carotid Stents
          • Intracranial Stents
          • Neurovascular Thrombectomy
          • Flow Disruption
          • Flow Diverters
          • Intrasaccular Devices
          • Liquid Embolic Coils
          • Balloons
          • Stent Retrievers
      • By Technique
        • Neurothrombectomy Procedure
        • Cerebral Angiography
        • Stenting
        • Coiling Procedures
        • Flow Disruption
      • By End User
        • Hospitals
        • Clinics
        • Ambulatory Surgical Centers
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type
        • Embolization Coils
          • Carotid Stents
          • Intracranial Stents
          • Neurovascular Thrombectomy
          • Flow Disruption
          • Flow Diverters
          • Intrasaccular Devices
          • Liquid Embolic Coils
          • Balloons
          • Stent Retrievers
      • By Technique
        • Neurothrombectomy Procedure
        • Cerebral Angiography
        • Stenting
        • Coiling Procedures
        • Flow Disruption
      • By End User
        • Hospitals
        • Clinics
        • Ambulatory Surgical Centers
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Penumbra, Inc.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Stryker Corporation
    • Medtronic PLC.
    • Johnson & Johnson Services, Inc.
    • Terumo Corporation
    • Insera Therapeutics Inc.
    • Anaconda Biomed S.L.
    • Perflow Medical Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

FAQ

Frequently Asked Questions

The global neuro-interventional devices market is estimated to be valued at US$ 2,216.7 million in 2021 and is expected to exhibit a CAGR of 5.0% between 2021 and 2028.

Factors such as increasing prevalence of neurovascular diseases such as brain aneurysm, intracranial stenosis, arteriovenous fistula, stroke, and traumatic brain injuries is expected to drive the market growth during the forecast period.

Embolization coils segment holds a major market share in the product type segment in market.

The major factor hampering the growth of the market include frequent product recalls and high cost of neuro-interventional devices.

Major players operating in the market include Penumbra, Inc., Stryker Corporation, Medtronic PLC., Johnson & Johnson Services, Inc., Terumo Corporation, Insera Therapeutics Inc., Anaconda Biomed S.L., and Perflow Medical Ltd.

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