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Press Release: Neuro-interventional Devices Market to Surpass US$ 3104.8 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Neuro-intervention uses minimally-invasive, catheter-based approaches to treat specific diseases of the blood vessels of the head, neck and spine. The most common conditions treated with the neuro-interventional devices include strokes, brain aneurysms, fistula, and vascular malformation formed in brain and spine, and carotid artery diseases. Neuro-interventional devices are also used in the treatment for various other health conditions such as transient ischemic attacks (TIA), cerebral artery stenosis, vertebral artery disease, compression fractures, and venous malformation of neck and head.
The global neuro-interventional devices market size is estimated to be valued at US$ 2358.1 million in 2020 and is expected to exhibit a CAGR of 4.0 % over the forecast period (2020-2027).
Figure 1. Global Neuro-interventional Devices Market Value (US$ Mn), 2016-2027
The increasing incidence of various brain disorders such as brain aneurysm is expected to drive the growth of global neuro-interventional devices market over the forecast period. For instance, according to the Cerebral Aneurysms Fact Sheet, National Institute of Neurological Disorders and Stroke (NINDS) published on 2018, stated that around 30,000 people in the U.S. suffer from brain aneurysm rupture, annually.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2020: | US$ 2358.1 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 4.0% | 2027 Value Projection: | US$ 3104.8 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Stryker Corporation, Penumbra Inc., Medtronic, Johnson & Johnson Private Limited, Imperative Care, Inc., Anaconda Biomed SL, Insera Therapeutics, Perflow Medical Ltd., Terumo Corporation, MicroPort, and Rapid Medical Ltd. |
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| Restraints & Challenges: |
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Global Neuro-interventional Devices Market – Impact of Coronavirus (Covid-19)
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in over 55 million infected individuals worldwide as of November 2020.
Moreover, COVID-19 has also affected the neuro-interventional devices market in the following ways:
Nationwide lockdowns in several countries resulting from the coronavirus pandemic have negatively impacted development, production, and supply of interventional devices and affected growth of the healthcare businesses of various companies across the globe. These lockdowns have led to closure of industrial establishments except manufacturing of essential commodities and disruption in supply of products.
Thus, the COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) by its financial impact on firms and financial markets.
Figure 2. Global Neuro-interventional Devices Market Share (%), by Region, 2020
Among regions, North America is expected to exhibit significant growth in the global neuro-interventional devices market, owing to key companies focusing on raising funds to expand their product portfolio in the market. For instance, in 2019, Imperative Care, Inc. announced that they have completed the initial closing of a series C financing of US$ 85 million to support the commercial launch of company’s medical devices, which include latest technological advances in neurovascular devices used to treat strokes.
Key Players
Major players operating in the global neuro-interventional devices market include Stryker Corporation, Penumbra Inc., Medtronic, Johnson & Johnson Private Limited, Imperative Care, Inc., Anaconda Biomed SL, Insera Therapeutics, Perflow Medical Ltd., Terumo Corporation, MicroPort, and Rapid Medical Ltd.
The global neuro-interventional device market mainly include different products such as embolic coils, carotid stents, intracranial stents, neurovascular thrombectomy devices , embolic protection devices, flow diverters devices, intrasaccular devices, liquid embolic devices, balloon devices, and stent retrievers, which are used for different intervention procedures. Interventional procedures follow different techniques such as neurothrombectomy procedures, cerebral angiography, stenting coiling procedures, and flow disruption.
Market Dynamics
The global neuro-interventional device market is expected to exhibit significant growth over the forecast period due to key companies focusing on product launches and product approvals. For instance, in 2019, Insera Therapeutics, Inc, received Conformité Européenne (CE) Mark approval for its product, the CLEAR Aspiration System that is used for the treatment of acute pulmonary embolism.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 33 market data tables and 32 figures on "Neuro-interventional Devices Market– Global forecast to 2027”.
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