Fact.MR, market research, and competitive intelligence provider, has recently published an updated analysis on the neurointerventional devices market, which reveals that the industry was worth US$ 2.3 Bn in 2020. The study predicts the market to attain a valuation of US$ 5 Bn by 2031, progressing at a robust CAGR of 8% through 2031.
Healthcare has evolved massively over the past decade, and this can be attributed to increasing prevalence of diseases, technological proliferation, and rise in overall healthcare expenditure. Neurological disorders have seen a rise in the past decade. Majorly driving the neurointerventional devices industry is rising prevalence of brain aneurysms.
Increasing demand for minimally invasive products is a major factor that will dictate the neurointerventional devices market growth potential. Minimally invasive products allow patients to heal faster with much less discomfort than a regular surgical procedure. However, high cost of neurointerventional devices is expected to hinder market revenue potential on a global scale.
Key Segments of Neurointerventional Devices Industry Survey
By Product Type:
- Embolic Coils Neurointerventional Devices
- Neurovascular Thrombectomy Neurointerventional Devices
- Carotid Stents Neurointerventional Devices
- Flow Diverters Neurointerventional Devices
- Embolic Protection Neurointerventional Devices
- Stent Retrievers Neurointerventional Devices
- Intracranial Stents Neurointerventional Devices
- Liquid Embolic Neurointerventional Devices
- Intrasaccular Neurointerventional Devices
- Balloon Neurointerventional Devices
By End User:
- Ambulatory Surgical Centers
- Neurointerventional Devices for Coiling Procedures
- Neurointerventional Devices for Stenting
- Neurointerventional Devices for Cerebral Angiography
- Neurointerventional Devices for Neurothrombectomy Procedure
- Neurointerventional Devices for Flow Disruption
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Key Takeaways from Market Study
- By end of 2031, neurointerventional devices industry estimated to be valued at US$ 5 Bn.
- High cost of neurointerventional devices expected to hinder the market growth.
- Over next ten years, market slated to rise at healthy CAGR of 8%.
- North America expected to hold dominant share throughout forecast period.
- APAC and Latin America expected to see healthy rise in adoption of neurointerventional devices.
- Increasing demand for minimally invasive procedures, prevalence of brain aneurysms and strokes, and rising geriatric population are factors driving demand.
“If high cost of neurointerventional devices is taken out of the equation, the market seems to have immense potential across the globe where we are seeing more neurological cases than ever before,” says a Fact.MR analyst.
Report Benefits & Key Questions Answered
- Neurointerventional Devices Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Neurointerventional Devices Historical volume analysis: The report provides a comparison of Neurointerventional Devices’s historical sales and projected sales performance for 2021-2031.
- Neurointerventional Devices Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Neurointerventional Devices market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Neurointerventional Devices Consumption by demographics: The report investigates consumer behavior affecting Neurointerventional Devices demand outlook for the assessment period. Effect of their keenness for digital trends on Neurointerventional Devices market is carefully analyzed
- Post COVID consumer spending on Neurointerventional Devices: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Neurointerventional Devices market growth.
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Some of the key manufacturers of neurointerventional devices, such as Boston Scientific Corporation, Medtronic plc, St. Jude Medical, Inc., Nevro Corp., Nuvectra Corporation, Stimwave Technologies Inc., and Saluda Medical Pty Ltd., have been profiled in this market study.
- Minnetronix announced that it will be rebranding itself as Minnetronix Medical. The company is planning to launch a new line of neurointerventional critical-care devices that would be under the new Minnetronix Neuro line.
- In February 2020, Rist Neurovascular announced that it had acquired FDA 510(k) clearance for its new product – Rist Cath radial, a product made to access the neurovasculature through the radial artery in the wrist. This is the first FDA-approved device to make this possible in neurointerventional procedures.
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