North America Interventional Neurology Market – Industry Trends and Forecast to 2029

North America Interventional Neurology Market, By Product (Embolic Coils, Flow Diversion, Liquid Embolic Devices, Carotid  Stents, Microguidewires, Microcatheter, Clot Retrieval Devices, Suction Devices, Stenting systems), Technology (Embolization and Coiling, Balloon Angioplasty, Carotid Stenting, Neurothrombectomy, Micro Support Devices) End-User (Ambulatory Care Centers, Hospitals, Neurology Clinics) – Industry Trends and Forecast to 2029

Market Analysis and Size

Substantial rise in the occurrence of neurological diseases, severity of the disease, increasing demand for actual treatment procedures, flow in demand for negligibly invasive measures, and growing consciousness among people to contribute to the growth of the market. In addition, technological progressions in the field of interventional neurology.

Data Bridge Market Research analyses that the interventional neurology market which was USD 866.6 million in 2021, would rocket up to USD 1640.01 million by 2029, and is expected to undergo a CAGR of 8.3% during the forecast period 2022 to 2029. 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.

Market Definition

Neurology devices raise to the type of strategies that assist in analyzing, preventing and treating various neurological disorders and circumstances, comprising Parkinson’s disease, epilepsy, traumatic brain injury, Alzheimer’s disease, major depression and spinal cord wound. These devices can be used for serving reestablish hearing and sight, and offer an enlarged functionality for those with limb loss or inherited limb differences.

Report Scope and Market Segmentation

Interventional Neurology Market Dynamics

Drivers

• Increase in prevalence of neurological disorders

Across the region, one of the major factors driving the growth of the interventional neurology market is government funding. The increase in the amount of trauma injuries and flow in occurrences of disorders such as Alzheimer’s and Parkinson’s possessing to change in lifestyle and favorable reimbursement scenario accelerate the market growth.

• Increase in the usage of neurology devices

Due to the increasing number of patients in the hospitals, and surge in demand for slightly invasive neurosurgical procedures since rapid recovery and less discomfort further impact the market. Furthermore, surge in healthcare outflow, rise in attractiveness consciousness, flow in disposable income, surge in aesthetic actions and great target patient populace completely touches the interventional neurology market. 

• Rising expansions in the medical industry

In past years, the allocation of resources to healthcare research and development activities had a significant impact on the growth rate of the North American interventional neurology market. The increasing number of health innovations adopted by various organisations and administrations also contributes to market expansion.

Opportunities

This predicted to increase significantly due to rising demand for minimally invasive neurosurgery procedures and expanding research activity in neurovascular treatments. The government spent USD 1.4 billion in 2018 to improve awareness of CNS illnesses due to a rise in cases, according to the Indian Brand Equity Foundation. Demand for minimally invasive neurosurgery operations is on the rise. Minimally invasive medical procedures have a number of advantages over traditional surgical procedures, including a shorter hospital stay, faster patient recovery, increased procedural safety and efficacy, and lower costs. As a result, medical experts all over the world are becoming more accepting of endoscopic and other minimally invasive surgical methods.

Restraints/Challenges

• High procedural cost of neurovascular surgeries and related products

The high cost of neurovascular surgical procedures and equipment is a major stumbling block for the worldwide neurovascular market, particularly in developing nations with inadequate reimbursement schemes. In the United States, conventional procedures to treat aneurysms and artery abnormalities cost between USD 45,000 and USD 50,000. Furthermore, the total cost of ownership of these devices is increased by maintenance fees and other associated indirect expenses, restricting their adoption. Due to budgetary constraints, small hospitals and standalone ASCs are less likely to invest in costly and complex equipment; this is especially true in developing nations. A small number of patients in impoverished nations can afford neurological therapy due to high prices and a poor reimbursement environment.

This interventional neurology 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 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 Market

The COVID-19 epidemic has had a global impact on the medical device sector, notably interventional neurology devices. Despite the urgency, the number of hospital visits has dropped dramatically in the last six months. During the COVID-19 outbreak, neuro interventional operations are treated in a variety of ways. Patients are avoiding contact with COVID-19 patients and healthcare workers by avoiding healthcare venues. A number of acute and severe disorders, including stroke, myocardial infarction, and several cancers, have demonstrated a decrease in prevalence. The interventional neurology market is expected to be impacted as governments and authorities attempt to ensure the availability of resources for COVID-19 patients.

Recent Development

Johnson & Johnson will unveil Cerenovus Stroke Solutions in 2020, which will contain a trio of devices to help physicians with clot removal treatments. The Cerenovus Large Bore Catheter, Cerebase DA Guide Sheath, and Embotrap III Revascularization Device are among the devices.

 Penumbra and Genesis MedTech joined in 2021 to grow the neurovascular business in China.

 In light of Brexit, Pehnox launched a new corporation in the UK in 2021 to bolster its footprint in important European markets.

North America Interventional Neurology Market Scope

The interventional neurology market is segmented on the basis of technology, product 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.

Technology

• Embolization and Coiling
• Balloon Angioplasty
• Carotid Stenting
• Neurothrombectomy
• Micro Support Devices

Product

• Carotid Stent
• Microcatheter
• Flow Diversion
• Microguidewires
• Suction Device
• Stenting Systems
• Clot Retrievel

End-Users

• Hospitals
• Ambulatory care centers
• Neurology Clinics

Interventional Neurology Market Regional Analysis/Insights

The interventional neurology market is analysed and market size insights and trends are provided by country, technology, product and end-user as referenced above.

The countries covered in the interventional neurology market report are U.S., Canada and Mexico in North America.

Canada and the United States are expected to grow during the forecast period of 2022 to 2029 due to rapidly rising population along with the rise in the per capita purchasing power in healthcare infrastructure particularly in U.S.

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 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 market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the interventional neurology market. The data is available for historic period 2010-2020.

Competitive Landscape and Interventional Neurology Market Share Analysis

The interventional neurology 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 market.

Some of the major players operating in the interventional neurology market are:

• Johnson & Johnson Pvt. Ltd. (US)
• Medtronic (Ireland)
• Stryker (US)
• Terumo Corporation (Japan)
• Penumbra, Inc. (US)
• MicroPort Scientific Corporation (China)
• Kaneka Corp. (Japan)
• BALT (France)
• 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 Technology Co. Ltd. (China)
• Cerus Endovascular Inc. (US)