Global Interventional Neurology Devices Market – Industry Trends and Forecast to 2030

Interventional Neurology Devices Market Analysis and Size

The global interventional neurology devices market is experiencing significant growth due to several factors. Firstly, the increasing prevalence of neurological disorders such as stroke, aneurysms, and arteriovenous malformations is driving the demand for interventional neurology devices. In addition, advancements in technology, such as minimally invasive procedures and the development of innovative devices, are expanding the treatment options available to patients. The growing geriatric population, who are more susceptible to neurological conditions, is also contributing to market growth. Furthermore, favorable reimbursement policies and increased healthcare expenditure in developing regions are creating opportunities for market expansion. Overall, the global interventional neurology devices market is expected to witness substantial growth in the forecast period of 2023 to 2030, as healthcare providers and patients increasingly recognize the benefits of these devices in the treatment of neurological disorders.

Data Bridge Market Research analyses that the global interventional neurology devices market, which was USD 2,725.00 million in 2022, is expected to reach USD 5,429.73 million by 2030, and is expected to undergo a CAGR of 9.0% during the forecast period of 2023 to 2030. “Aneurysm coiling and embolization devices” dominates the product type segment of the global interventional neurology devices market owing to the advancements in technology. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Interventional Neurology Devices Market Scope and Segmentation

Market Definition

Interventional neurology devices refer to medical devices and equipment used in minimally invasive procedures to diagnose and treat neurological conditions. These devices are specifically designed for use in the brain, spine, and peripheral nerves. They include a wide range of tools such as catheters, stents, embolic coils, thrombectomy devices, and neurovascular balloons. Interventional neurology devices are used in various procedures, including angioplasty, embolization, clot retrieval, and stenting, to treat conditions like stroke, aneurysms, arteriovenous malformations, and other neurovascular disorders. These devices are designed to be precise, flexible, and deliver targeted therapy to the affected area, minimizing the invasiveness of the procedure and reducing patient recovery time.

Global Interventional Neurology Devices Market Dynamics

Drivers

• Increasing Prevalence of Neurological Disorders

The rising incidence of neurological conditions, such as strokes, aneurysms, and arteriovenous malformations, is driving the demand for interventional neurology devices. These devices play a crucial role in diagnosing and treating these conditions, offering patients minimally invasive treatment options.

• Technological Upgradation and Advancements

Continuous advancements in technology have led to the development of innovative interventional neurology devices. These devices are becoming more precise, efficient, and safer, improving patient outcomes and reducing the risks associated with complex neurological procedures.

• Growing of the Geriatric Population

The aging population is more susceptible to neurological disorders, creating a higher demand for interventional neurology devices. As the elderly population continues to grow, there is an increased need for effective and less invasive treatment options, which can be provided by these devices.

Opportunities

• Increasing Healthcare Expenditure

Rising healthcare expenditure, particularly in developing regions, is contributing to the growth of the interventional neurology devices market. Increased investments in healthcare infrastructure and technological advancements are expanding access to these devices and procedures.

• Focus on Minimally Invasive Procedures

There is a growing preference for minimally invasive procedures among both patients and healthcare providers. Interventional neurology devices allow for less invasive treatments, resulting in reduced hospital stays, faster recovery times, and improved patient outcomes which is impacting the market and seems to be one of the major opportunity to grow the market.

Restraints/Challenges

• High Cost of Devices

Interventional neurology devices are expensive, which can limit their accessibility, especially in developing regions with limited healthcare budgets. The high cost can also pose challenges for smaller healthcare facilities or those with limited resources.

• Lack of Skilled Professionals

Performing interventional neurology procedures requires specialized skills and training. The shortage of skilled professionals in this field can limit the adoption and utilization of interventional neurology devices, particularly in areas with a scarcity of neurologists and interventional radiologists.

This global 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 global 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.

Recent Developments

• In June 2021, Pehnox 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
• In September 2020, Johnson & Johnson Services, Inc. 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

Global Interventional Neurology Devices Market Scope

The global 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 analyse 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.

Product type

• Aneurysm Coiling and Embolization Devices
• Embolic Coils
• Bare Detachable Coils
• Coated Detachable Coils.
•  Flow Diversion Devices
•  Liquid Embolic Agents.
• Cerebral Balloon Angioplasty and Stenting Systems
• Carotid Artery Stents
•  Embolic Protection Systems
• Distal Filter Devices
• Balloon Occlusion Devices
• Support Devices
• Micro Guidewires
• Microcatheters
• Neurothrombectomy Devices
• CLOT Retrieval Devices
• Suction and Aspiration Devices
• Snares

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

Global Interventional Neurology Devices Market Regional Analysis/Insights

The global 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  global interventional neurology devices market report are U.S., Canada and Mexico, 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 global 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 in the global interventional neurology devices market during the forecast period of 2023 to 2030 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 global 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  global interventional neurology devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the  global interventional neurology devices market. The data is available for historic period 2015-2020.

Competitive Landscape and Global Interventional Neurology Devices Market Share Analysis

The global 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 global interventional neurology devices market.

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

• Johnson & Johnson Services, Inc. (U.S.)
• Medtronic (Ireland)
• Stryker (U.S.)
• Terumo Corporation (Japan)
• Penumbra, Inc. (U.S.)
• Microport Scientific Corporation (China)
• Kaneka Corporation (Japan)
• Integer Holdings Corporation (France)
• Perflow Medical (U.S.)
• Phenox GmbH (Germany)
• Sensome (France)
• Evasc (Canada)
• Rapid Medical (Israel)
• Asahi Intecc Co. Ltd (Japan)
• Acandis GmbH (Germany)
• Medikit Co. Ltd (Japan)
• Imperative Care (U.S.)
• Lepu Medical (China)
• Cerus Endovascular (U.S.) 

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