Stroke is recognized by the World Health Organization (WHO) as a significant contributor to dementia and depression worldwide. Oxygen deprivation leads to the rapid death of brain cells. With the increasing occurrence of acute ischemic stroke (AIS), especially in older individuals, the market for neurothrombectomy devices is expanding. These devices aid in the dissolution of blood clots, enhancing blood flow to the brain, and reducing mortality rates associated with stroke.
According to Data Bridge Market Research, Neurothrombectomy Devices Market is USD 617.28 million in 2021, would rocket up to USD 1,006.35 million by 2029, and is expected to undergo a CAGR of 6.30% during the forecast period 2022 to 2029
"Increasing prevalence of acute ischemic stroke surge market demand"
The increasing prevalence of acute ischemic stroke (AIS) is a significant driver for the neurothrombectomy devices market. With the global population aging, the risk of stroke rises, leading to a higher demand for effective treatment options. Neurothrombectomy devices play a crucial role in removing blood clots and restoring blood flow to the brain, improving patient outcomes. As AIS cases continue to rise, the market for neurothrombectomy devices is expected to grow to meet the growing demand for stroke treatments.
What restraints the growth of the neurothrombectomy devices market?
"High cost can impede the market growth”
The high cost of neurothrombectomy devices is a significant restraint in the global market, particularly in regions with limited healthcare resources or inadequate reimbursement systems. The expensive nature of these devices limits their accessibility and affordability, hindering their adoption. The cost barrier poses challenges for healthcare providers and patients, potentially restricting market growth. Addressing pricing strategies, exploring cost-effective alternatives, and improving reimbursement policies are essential to overcome this restraint and enhance market accessibility.
Segmentation: Global Neurothrombectomy Devices Market
The neurothrombectomy devices market is segmented on the basis of product type, type and end user.
- On the basis of product type, the neurothrombectomy devices market is segmented into clot retrieval devices, aspiration devices, snares.
- On the basis of type, the neurothrombectomy devices market is segmented into retriever, integrated system
- On the basis of end user, the neurothrombectomy devices market is segmented into hospitals, clinics, public health labs, private or commercial labs, physician labs, research institutes, other.
Regional Insights: North America is expected to dominate the Global Neurothrombectomy Devices Market
North America's dominance in the neurothrombectomy devices market can be attributed to several factors. Firstly, the region experiences a significant number of hemorrhagic and ischemic stroke cases, creating a strong demand for effective treatment options such as neurothrombectomy devices. Additionally, the growing preference for minimally invasive surgeries in North America contributes to the market's growth, as neurothrombectomy procedures are considered less invasive compared to traditional surgical interventions. These factors combined drive the market's expansion in the region.
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Recent Developments in Global Neurothrombectomy Devices Market
- In 2019, In San Diego at the annual meeting of the American Association of Neurological Surgeons, Stryker unveiled its ultrasonic aspirator system. The technology is designed for quick gadget development and usability. The key players are focusing on putting expansion strategies into practice, including partnerships, mergers, and collaborations for new product developments, holding conferences, and releasing new products.
- In 2021, The NeuroVascular Quality Initiative-Quality Outcomes Database (NVQI-QOD) will be developed by the Society of Vascular and Interventional Neurology (SVIN) and NeuroPoint Alliance (NPA). The project, according to the statement, broadens and deepens its scope, and is focused on improving clinical care and outcomes for patients with stroke and intracranial cerebrovascular illnesses. The NVQI-QOD is managed by the SNIS Patient Safety Organization (SNIS PSO), which is advised by a governing council made up of representatives from all three organizations.
The Prominent Key Players Operating in the Global Neurothrombectomy Devices Market Include:
- Medtronic (Ireland)
- Acandis GmbH (Germany)
- Stryker (U.S.)
- Phenox GmbH (Germany)
- Boston Scientific Corporation (U.S.)
- Abbott (U.S.)
- Terumo Corporation (Japan)
- W.L. Gore & Associatess, Inc. (U.S.)
- Vesalio, LLC (U.S.)
- Teleflex Incorporated (U.S.)
- Edwards Lifesciences Corporation (U.S.)
- ARGON MEDICAL (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Microport Scientific Corporation (China)
- Penumbra, Inc. (U.S.)
- Johnson & Johnson Private Limited (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global neurothrombectomy devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Neurothrombectomy Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
