Global Interventional Neurology Devices Market, By Product Type (Aneurysm Coiling and Embolization Devices, Cerebral Balloon Angioplasty and Stenting Systems, Support Devices, Neurothrombectomy Devices), Disease Pathology (Ischemic Strokes, Cerebral Aneurysms, Arteriovenous Malformation and Fistulas, Others), Procedure (Embolization, Angioplasty, Neurothrombectomy, Others), End User (Hospitals, Neurology Clinics, Ambulatory Care Centers, Others) – Industry Trends and Forecast to 2029.
Global Interventional Neurology Devices Market Analysis and Size
Neurological conditions at a global level, are at rise. Intracranial aneurysm is one of the common neurological disease affecting over 30,000 people in the U.S. each year. This is where the interventional neurology devices come into play. These devices aim to treat all kinds of neurological conditions using image guided minimally invasive technique.
- Data Bridge Market Research analyses that the interventional neurology devices market is expected to undergo a CAGR of 9.00% during the forecast period. This indicates that the market value, which was USD 2.50 billion in 2021, would rocket up to USD 4.90 billion by 2029. “Aneurysm Coiling and Embolization Devices” dominates the product type segment of the interventional neurology devices market owing to the growing end-user preference for minimally invasive neurosurgical procedures and increasing market availability of embolic coils for neurovascular treatment. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Interventional Neurology Devices Market Definition
From the name itself, it is clear that the role of interventional neurology devices is to treat the neurology related disorders or diseases in the patients. Neurological conditions damage the brain, spine and nervous system of an individual. The interventional neurology devices are highly effective in dealing with the neurological conditions.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Product Type (Aneurysm Coiling and Embolization Devices, Cerebral Balloon Angioplasty and Stenting Systems, Support Devices, Neurothrombectomy Devices), Disease Pathology (Ischemic Strokes, Cerebral Aneurysms, Arteriovenous Malformation and Fistulas, Others), Procedure (Embolization, Angioplasty, Neurothrombectomy, Others), End User (Hospitals, Neurology Clinics, Ambulatory Care Centers, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Johnson & Johnson Services Inc. (US), Medtronic (Ireland), Stryker (US), Terumo Corporation (Japan), Penumbra, Inc. (US), Microport Scientific Corporation (China), Kaneka Corporation (Japan), Integer Holdings Corporation (France), Perflow Medical (US), Phenox GmbH (Germany), Sensome (France), Evasc (Canada), Rapid Medical (Israel), Asahi Intecc Co. Ltd (Japan), Acandis GmbH (Germany), Medikit Co. Ltd (Japan), Imperative Care (US), Lepu Medical (China) and Cerus Endovascular (US)
Interventional Neurology Devices Market Dynamics
- Rising prevalence of conditions
Growing population base suffering from neurological conditions globally is one of the major factors fostering the growth of the market. Increasing incidence rate of cerebral aneurysm, head and neck tumours, intracranial atherosclerosis, meningioma, ischemic strokes, spinal vascular malformations, arteriovenous malformations, aneurysms, stroke and cavernous malformations is directly influencing the market growth rate.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the advancements in medical technologies and devices is also bolstering the market growth rate.
- Growing investment for healthcare facilities
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
Furthermore, upsurge in the public-private funding for target research activities, rising prevalence of Alzheimer's disease, cerebrovascular diseases such as stroke, migraine, and other headache disorders, high stress levels in young people and head injuries, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, unhealthy lifestyle of individuals, rising internet penetration rate, ongoing product development and commercialization and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges Global Interventional Neurology Devices Market
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, uneven distribution of medical services, dearth of skilled neurologists and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, high costs associated with the procedure, limited insurance coverage and regulatory compliance, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This interventional neurology devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the interventional neurology devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Interventional Neurology Devices Market
COVID-19 had a negative impact on the market. Owing to the restrictions, the number of patient visits to hospitals has also reduced significantly despite the emergency. The supply chain disruptions created challenges for the transportation and distribution of drug delivery systems and equipment. Also, restrictions imposed on the movement further created hindrances. Subsequent fall in the demand and supply of non- important medical devices and equipment further created hindrances for the market. Falling rates have been observed across a range of acute and critical conditions, including stroke, myocardial infarction, and various cancers and this has hammered down the market growth rate in this pandemic phase.
- Johnson and Johnson in 2021 announced the launch of a new product called Cerenovus Stroke Solutions. It comprises three devices to help in procedures of clot removal. This will aim to revolutionize the market and bring profits in the long run.
- Pehnox in 2021 announced the establishment of the new entity to improve its business withhold in Europe. This will create a wide scope of growth for generating profits in the long run.
Global Interventional Neurology Devices Market Scope
The interventional neurology devices market is segmented on the basis of product type, disease pathology, procedure and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Aneurysm Coiling and Embolization Devices
- Cerebral Balloon Angioplasty and Stenting Systems
- Support Devices
- Neurothrombectomy Devices
Based on product type, the interventional neurology devices market is segmented into aneurysm coiling and embolization devices, cerebral balloon angioplasty and stenting systems, support devices and neurothrombectomy devices. Aneurysm coiling and embolization devices segment is further sub-segmented into embolic coils, flow diversion devices and liquid embolic agents. Embolic coils are divided into bare detachable coils and coated detachable coils. Cerebral balloon angioplasty and stenting systems segment is further sub-segmented into carotid artery stents and embolic protection systems. Embolic protection systems are divided into distal filter devices and balloon occlusion devices. Support devices segment is further sub-segmented into micro guidewires and microcatheters. Neurothrombectomy devices segment is further sub-segmented into CLOT retrieval devices, suction and aspiration devices and snares.
- Ischemic Strokes
- Cerebral Aneurysms
- Arteriovenous Malformation and Fistulas
On the basis of disease pathology, the interventional neurology devices market is segmented into ischemic strokes, cerebral aneurysms, arteriovenous malformation and fistulas and others.
On the basis of procedure, the interventional neurology devices market is segmented into embolization, angioplasty, neurothrombectomy and others.
- Neurology Clinics
- Ambulatory Care Centers
Based on end user, the interventional neurology devices market is segmented into hospitals, neurology clinics, ambulatory care centers and others.
Interventional Neurology Devices Market Regional Analysis/Insights
The interventional neurology devices market is analysed and market size insights and trends are provided by country, product type, disease pathology, procedure and end user as referenced above.
The countries covered in the interventional neurology devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the interventional neurology devices market because of the strong base of healthcare facilities, widespread utilization of medications, surging occurrences of chronic neurological diseases and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, increasing health conscious people within the region, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The interventional neurology devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for interventional neurology devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the interventional neurology devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Interventional Neurology Devices Market Share Analysis
The interventional neurology devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to interventional neurology devices market.
Some of the major players operating in the interventional neurology devices market are:
- Johnson & Johnson Services Inc. (US)
- Medtronic (Ireland)
- Stryker (US)
- Terumo Corporation (Japan)
- Penumbra, Inc. (US)
- Microport Scientific Corporation (China)
- Kaneka Corporation (Japan)
- Integer Holdings Corporation (France)
- Perflow Medical (US)
- Phenox GmbH (Germany)
- Sensome (France)
- Evasc (Canada)
- Rapid Medical (Israel)
- Asahi Intecc Co. Ltd (Japan)
- Acandis GmbH (Germany)
- Medikit Co. Ltd (Japan)
- Imperative Care (US)
- Lepu Medical (China)
- Cerus Endovascular (US)
Research Methodology : Global Interventional Neurology Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
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 versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-interventional-neurology-devices-market