Neurothrombectomy Devices Market Summary
The Neurothrombectomy devices Market neurothrombectomy devices market size was valued at $481.10 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.
The neurothrombectomy devices market is segmented into Product Type and End User. On the basis of product type, the neurothrombectomy devices market size is classified into clot retrieval devices, aspiration devices, and snares. By end user, the market is fragmented into hospitals, specialty clinics, and others. Region wise, neurothrombectomy industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Takeaways:
The global neurothrombectomy devices market is expected to experience significant growth in the coming years, due to increasing prevalence of neurovascular diseases, such as stroke, and the growing aging population.
Neurothrombectomy devices are used to remove blood clots from the brain, and are typically used in conjunction with other treatments, such as clot-busting drugs. These devices can improve patient outcomes and reduce the risk of disability or death.
The market for neurothrombectomy devices is highly competitive, with several key players, including Stryker Corporation, Medtronic, Penumbra, Inc., and Johnson & Johnson. These companies are constantly innovating to improve the performance and efficacy of their devices.
The North American market is expected to account for the largest share of the global neurothrombectomy devices market, due to the high prevalence of stroke in the region and the availability of advanced healthcare infrastructure.
However, the Asia Pacific region is expected to experience the fastest growth in the neurothrombectomy devices market, due to increasing healthcare expenditure, growing awareness about neurovascular diseases, and improving healthcare infrastructure in the region.
Despite the potential for growth, the neurothrombectomy devices market also faces several challenges, including the high cost of these devices and the availability of alternative treatments, such as drug therapy and surgical interventions.
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Market Drivers:
Increasing prevalence of neurovascular diseases: The prevalence of neurovascular diseases, such as stroke, is increasing globally due to factors such as aging population, sedentary lifestyle, high blood pressure, and diabetes. This has led to a rise in demand for neurothrombectomy devices, which can effectively remove blood clots from the brain and improve patient outcomes.
Technological advancements: Technological advancements in neurothrombectomy devices have led to improved performance, efficacy, and safety, which has boosted their adoption among healthcare providers and patients. For instance, the development of stent retrievers has led to faster and more effective clot removal.
Growing awareness about neurovascular diseases: Growing awareness about the symptoms and consequences of neurovascular diseases has led to an increased demand for neurothrombectomy devices. Public health campaigns, government initiatives, and patient advocacy groups have played a role in raising awareness about stroke and other neurovascular diseases.
Favorable reimbursement policies: The availability of favorable reimbursement policies in many countries has made neurothrombectomy procedures more accessible and affordable for patients. This has contributed to the growth of the market.
Neurothrombectomy Devices Market Segmentation:
Product type: Neurothrombectomy devices can be categorized into different product types, such as aspiration devices, stent retrievers, and catheters.
End-user: Neurothrombectomy devices are used by various end-users, including hospitals, ambulatory surgical centers, and specialty clinics.
Indication: The market can be segmented based on the indication for which neurothrombectomy devices are used, such as stroke, cerebral venous sinus thrombosis, and pulmonary embolism.
Geography: The market can be segmented into different regions, such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Modality: The market can be segmented into two main modalities – mechanical and aspiration. Mechanical thrombectomy devices use stent retrievers or other devices to remove the clot, while aspiration thrombectomy devices use suction to remove the clot.
Sales channel: The market can be segmented based on the sales channel used to distribute the neurothrombectomy devices. This could include direct sales to hospitals or clinics, or through distributors or online sales channels.
North America accounted for major neurothrombectomy devices market share in 2021, owing to increase in cases of neurothrombectomy of different organs, robust healthcare infrastructure, presence of key players, and rise healthcare expenditure. However, Asia-Pacific is expected to witness highest CAGR during the forecast period, owing to rise in geriatric population, unmet medical demands, initiatives by government & non-governmental organizations (NGOs) to promote awareness regarding neurothrombectomy devices, and increase in public–private investments in the healthcare sector.
Competitive Landscape:
- Medtronic
- Stryker Corporation
- Acandis GmbH
- Penumbra Inc.
- Phenox GmbH
- Vesalio
- MicroVention Inc.
- Boston Scientific Corporation
- Teleflex Incorporated
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