Impact Analysis of Covid-19

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.

Neurovascular devices are required for surgeries for stroke and brain aneurysms. Factors such as approval and launch of neurovascular devices are expected to fuel growth of the global neurovascular devices market.

For instance, in April 2020, Cerus Endovascular Ltd. announced that it received CE Mark approval for its 0.021-inch Contour Neurovascular System, compatible with smaller commercially available 021 microcatheters for treatment of saccular intracranial aneurysms.

The global neurovascular devices market is estimated to be valued at US$ 2,340.4 million in 2020 and is expected to exhibit a CAGR of 4.1% during the forecast period (2020-2027).

Global Neurovascular Devices Market - Impact of Coronavirus (Covid-19) Pandemic

Supply chain and manufacturing activities in India, Italy, Spain, U.K., and the U.S. have been disrupted due to the nationwide lockdowns in the past few months, whereas countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of products.

Neurovascular devices are required for surgeries for stroke and brain aneurysms, which might be delayed due to the pandemic. During the pandemic, brain surgeries are often being postponed or even cancelled. Moreover, neurosurgeons are currently facing various challenges such as treatment priority setting, ethical decision-making and risk of moral injury, as well as medico-legal risks, and financial uncertainties.

Delivering care to patients with neurological disease during this crisis is challenging due to competing risks of death from cancer versus death or serious complications from SARS-CoV-2, and the likely higher risk of COVID-19 in immune compromised hosts.

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 have been cancelled so that operating theater staff and operating equipment can be deployed for critical care. Outpatient activity has been reduced in order to redirect resources and to lower transmission of the disease by decreasing the footfall in hospitals.

Figure 1. Global Neurovascular Devices Market Share (%) Analysis, By Therapeutic Application, 2020

Neurovascular Devices  | Coherent Market Insights

Increasing prevalence of neurovascular diseases is expected to drive the global neurovascular devices market growth

The rising incidence of neurovascular diseases, owing to sedentary lifestyle and the increasing geriatric population across the globe are projected to boost demand for neurovascular devices. The prevalence of stroke has increased steadily in low- and mid-income countries.

The increasing prevalence of neurovascular diseases such as cerebral aneurysm, arteriovenous malformations, intracranial stenosis, arteriovenous fistula, and vasculitis is expected to propel growth of the global neurovascular devices market during the forecast period.

According to a study published in the Methodist DeBakey Cardiovascular Journal in 2014, around one million strokes occur annually in the U.S. with 10% to 15% accounting for intracranial atherosclerotic disease.

Stroke is the most common cause of death, followed by heart diseases and cancer worldwide. For instance, according to the WHO, in 2016, 15.2 out of 56.9 million deaths worldwide were due to stroke. Acute ischemic stroke (AIS) is the most common form of stroke caused due to reduced blood supply to the brain, which kills the brain cells.

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Neurovascular Devices Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 2,340.4 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 4.1% 2027 Value Projection: US$ 3,180.7 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, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Device Type:
    • Embolization Coils: Platinum Coils, Coated Platinum Coils, Liquid Embolic Coils.
    • Neurovascular Stents: Carotid Artery Stents, Flow Diversion Stents.
    • Neurothrombectomy devices: Clot Retrievers, Aspiration/ Suction Devices, Vascular Snares.
    • Embolic Protection Devices: Distal Filter Devices, Balloon Occlusion Devices.
    • Neurovascular Supporting Devices: Microcatheters, Microguidewires.
  • By Therapeutic Application: Cerebral Aneurysms, Ischemic Stroke, Cerebral Artery Stenosis, Arteriovenous Malformations (AVMs) and AV Fistulas, Others.
Companies covered:

Medtronic Plc., Abbott Laboratories, Johnson & Johnson, Merit Medical Systems, Inc., Stryker Corporation, Penumbra, Inc., Acandis GmbH & Co. KG, MicroPort Scientific Corporation, Terumo Corporation, and Cerus Endovascular Limited.

Growth Drivers:
  • Increasing prevalence of neurovascular diseases
  • Product approvals and launches
Restraints & Challenges:
  • Frequent product recalls

Neurovascular Devices Market- Restraints

Neurovascular devices are technologically advanced devices used in surgery, diagnosis, and treatment of various neurological diseases. Due to technical faults, the U.S. FDA often recalls neurovascular devices, which is expected to hamper the global neurovascular devices market growth during the forecast period.

For instance, in September 2018, the U.S. FDA recalled the Intracranial Neurovascular Stent under Class 2 Device Recall developed by Stryker Neurovascular due to use-related coating damage on delivery catheter shafts of Wingspan delivery catheters.

Neurovascular Devices Market– Regional Analysis

North America accounted for the largest share in the neurovascular devices market in 2019, as key players in the region are focused on expansion of business in order to expand their presence in the market in the region. For instance, in July 2017, Johnson & Johnson announced introduction of Ceronovus, its new neurovascular business for effective stroke care. The strategy was focused on development of innovative products for hemorrhagic and ischemic stroke patients, thereby, expanding its existing customer base and strengthening its market position.

Furthermore, Asia Pacific is expected to observe the fastest growth during the forecast period, as key players are focusing on various inorganic strategies such as acquisition and collaborations to expand their market presence. For instance, in 2016, Terumo Corporation acquired Sequent Medical, Inc., a privately-held firm developing a new medical device for aneurysm embolization.

Figure 2. Global Neurovascular Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

Neurovascular Devices  | Coherent Market Insights

Neurovascular Devices Market- Competitive Landscape

Key players operating in the neurovascular devices market include Medtronic Plc., Abbott Laboratories, Johnson & Johnson, Merit Medical Systems, Inc., Stryker Corporation, Penumbra, Inc., Acandis GmbH & Co. KG, MicroPort Scientific Corporation, Terumo Corporation, and Cerus Endovascular Limited.

Neurovascular devices include clips, coils, and stents, which are used for the treatment of neurovascular disorders such as brain aneurysms and cerebral artery stenosis among others.

Similarly, clot retrieval devices, and suction and aspiration devices are used for the removal of blood clots from arteries and veins of the brain, which can lead to fatal conditions such as stroke.

Market Dynamics

The global neurovascular devices market is expected to witness significant growth during the forecast period, owing to the increasing prevalence of neurovascular diseases. For instance, according to the NHS England, around 1 in 12,500 people in England suffer from brain aneurysms every year. Furthermore, around 3% of adults in the U.K. suffer from cerebral aneurysm. The increasing prevalence of hypertension, alcohol consumption, and smoking is expected to increase the prevalence of brain aneurysms.

Key features of the study:

  • This report provides in-depth analysis of the global neurovascular devices market, market size (US$ Mn), and compound annual growth rate (CAGR (%)) for the forecast period: 2020-2027, considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix 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 leading players
  • It profiles key players in the global neurovascular devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
  • Key players covered as a part of this study include Medtronic Plc., Abbott Laboratories, Johnson & Johnson, Merit Medical Systems, Inc., Stryker Corporation, Penumbra, Inc., Acandis GmbH & Co. KG, MicroPort Scientific Corporation, Terumo Corporation, and Cerus Endovascular Limited
  • Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to future product launches, government initiatives, technological upgradation, market expansion, and marketing tactics
  • The global neurovascular devices market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers in the neurovascular devices market, research and consulting firms, new entrants, and financial analysts.

Detailed Segmentation:

  • Global Neurovascular Devices Market, By Device Type:
    • Embolization Coils
      • Platinum Coils
      • Coated Platinum Coils
      • Liquid Embolic Coils
    • Neurovascular Stents
      • Carotid Artery Stents
      • Flow Diversion Stents
    • Neurothrombectomy devices
      • Clot Retrievers
      • Aspiration/ Suction Devices
      • Vascular Snares
    • Embolic Protection Devices
      • Distal Filter Devices
      • Balloon Occlusion Devices
    • Neurovascular Supporting Devices
      • Microcatheters
      • Microguidewires
  • Global Neurovascular Devices Market, By Therapeutic Application:
    • Cerebral Aneurysms
    • Ischemic Stroke
    • Cerebral Artery Stenosis
    • Arteriovenous Malformations (AVMs) and AV Fistulas
    • Others
  • Global Neurovascular Devices Market, By Region:
    • North America
      • By Country:
        • S.
        • Canada
      • By Device Type:
        • Embolization Coils
          • Platinum Coils
          • Coated Platinum Coils
          • Liquid Embolic Coils
        • Neurovascular Stents
          • Carotid Artery Stents
          • Flow Diversion Stents
        • Neurothrombectomy devices
          • Clot Retrievers
          • Aspiration/ Suction Devices
          • Vascular Snares
        • Embolic Protection Devices
          • Distal Filter Devices
          • Balloon Occlusion Devices
        • Neurovascular Supporting Devices
          • Microcatheters
          • Microguidewires
      • By Therapeutic Application:
        • Cerebral Aneurysms
        • Ischemic Stroke
        • Cerebral Artery Stenosis
        • Arteriovenous Malformations (AVMs) and AV Fistulas
        • Others
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Device Type:
        • Embolization Coils
          • Platinum Coils
          • Coated Platinum Coils
          • Liquid Embolic Coils
        • Neurovascular Stents
          • Carotid Artery Stents
          • Flow Diversion Stents
        • Neurothrombectomy devices
          • Clot Retrievers
          • Aspiration/ Suction Devices
          • Vascular Snares
        • Embolic Protection Devices
          • Distal Filter Devices
          • Balloon Occlusion Devices
        • Neurovascular Supporting Devices
          • Microcatheters
          • Microguidewires
      • By Therapeutic Application:
        • Cerebral Aneurysms
        • Ischemic Stroke
        • Cerebral Artery Stenosis
        • Arteriovenous Malformations (AVMs) and AV Fistulas
        • Others
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Device Type:
        • Embolization Coils
          • Platinum Coils
          • Coated Platinum Coils
          • Liquid Embolic Coils
        • Neurovascular Stents
          • Carotid Artery Stents
          • Flow Diversion Stents
        • Neurothrombectomy devices
          • Clot Retrievers
          • Aspiration/ Suction Devices
          • Vascular Snares
        • Embolic Protection Devices
          • Distal Filter Devices
          • Balloon Occlusion Devices
        • Neurovascular Supporting Devices
          • Microcatheters
          • Microguidewires
      • By Therapeutic Application:
        • Cerebral Aneurysms
        • Ischemic Stroke
        • Cerebral Artery Stenosis
        • Arteriovenous Malformations (AVMs) and AV Fistulas
        • Others
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Device Type:
        • Embolization Coils
          • Platinum Coils
          • Coated Platinum Coils
          • Liquid Embolic Coils
        • Neurovascular Stents
          • Carotid Artery Stents
          • Flow Diversion Stents
        • Neurothrombectomy devices
          • Clot Retrievers
          • Aspiration/ Suction Devices
          • Vascular Snares
        • Embolic Protection Devices
          • Distal Filter Devices
          • Balloon Occlusion Devices
        • Neurovascular Supporting Devices
          • Microcatheters
          • Microguidewires
      • By Therapeutic Application:
        • Cerebral Aneurysms
        • Ischemic Stroke
        • Cerebral Artery Stenosis
        • Arteriovenous Malformations (AVMs) and AV Fistulas
        • Others
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Device Type:
        • Embolization Coils
          • Platinum Coils
          • Coated Platinum Coils
          • Liquid Embolic Coils
        • Neurovascular Stents
          • Carotid Artery Stents
          • Flow Diversion Stents
        • Neurothrombectomy devices
          • Clot Retrievers
          • Aspiration/ Suction Devices
          • Vascular Snares
        • Embolic Protection Devices
          • Distal Filter Devices
          • Balloon Occlusion Devices
        • Neurovascular Supporting Devices
          • Microcatheters
          • Microguidewires
      • By Therapeutic Application:
        • Cerebral Aneurysms
        • Ischemic Stroke
        • Cerebral Artery Stenosis
        • Arteriovenous Malformations (AVMs) and AV Fistulas
        • Others
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Device Type:
        • Embolization Coils
          • Platinum Coils
          • Coated Platinum Coils
          • Liquid Embolic Coils
        • Neurovascular Stents
          • Carotid Artery Stents
          • Flow Diversion Stents
        • Neurothrombectomy devices
          • Clot Retrievers
          • Aspiration/ Suction Devices
          • Vascular Snares
        • Embolic Protection Devices
          • Distal Filter Devices
          • Balloon Occlusion Devices
        • Neurovascular Supporting Devices
          • Microcatheters
          • Microguidewires
      • By Therapeutic Application:
        • Cerebral Aneurysms
        • Ischemic Stroke
        • Cerebral Artery Stenosis
        • Arteriovenous Malformations (AVMs) and AV Fistulas
        • Others
  • Company Profiles
    • Medtronic Plc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Abbott Laboratories
    • Johnson & Johnson
    • Merit Medical Systems, Inc.
    • Stryker Corporation
    • Penumbra, Inc.
    • Acandis GmbH & Co. KG
    • MicroPort Scientific Corporation
    • Terumo Corporation
    • Cerus Endovascular Limited

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

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Device Type
      • Market Snippet, By Therapeutic Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • PEST Analysis
    • Product Launches/Approvals
    • Agreements And Acquisitions
    • Regulatory Framework
    • Porter’s Analysis
    • Technological Advancement
  4.  Impact Analysis of Covid-19
    • During-COVID 19 Market Analysis
    • Supply side and Demand side Analysis
    • Overall Impact
  5. Global Neurovascular Devices Market, By Device Type, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Embolization Coils
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Platinum Coils
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Coated Platinum Coils
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Liquid Embolic Coils
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Neurovascular Stents
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Carotid Artery Stents
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Flow Diversion Stents
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Neurothrombectomy devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Clot Retrievers
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Aspiration/ Suction Devices
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Vascular Snares
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Embolic Protection Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Distal Filter Devices
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Balloon Occlusion Devices
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Neurovascular Supporting Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Microcatheters
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Microguidewires
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  6. Global Neurovascular Devices Market, By Therapeutic Application, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Cerebral Aneurysms
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Ischemic Stroke
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Cerebral Artery Stenosis
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Arteriovenous Malformations (AVMs) and AV Fistulas
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  7. Global Neurovascular Devices Market, By Region, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 – 2027
      • Regional Trends
    • North America
      • Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
  8. Competitive Landscape
    • Company Profiles
      • Medtronic Plc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Abbott Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Johnson & Johnson
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Merit Medical Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Stryker Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Penumbra, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Acandis GmbH & Co. KG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • MicroPort Scientific Corporation
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Terumo Corporation
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Cerus Endovascular Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 26 market data tables and 42 figures on "Global Neurovascular Devices Market” - Forecast to 2027”

Frequently Asked Questions

The CAGR of the neurovascular devices market is expected to be 4.1% during the forecast period (2020-2027).
The value of neurovascular devices market is estimated to be US$ 2,340.4 million in 2020.
The prominent players in the global neurovascular devices market include Medtronic Plc., Abbott Laboratories, Johnson & Johnson, Merit Medical Systems, Inc., Stryker Corporation, Penumbra, Inc., Acandis GmbH & Co. KG, MicroPort Scientific Corporation, Terumo Corporation, and Cerus Endovascular Limited.
The neurovascular devices market is expected to be valued at US$ 3,180.7 Mn in 2027.
North America is the major region in the neurovascular devices market.
The increasing prevalence of neurovascular diseases and product approvals and launches are expected to drive growth of the global neurovascular devices market.
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