Interventional Neurology Devices Market By Product Type (Cerebral Balloon Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices, Aneurysm Coiling and Embolization Devices), By Technology Type (Carotid artery angioplasty and stenting, Vertebroplasty, Stroke therapy, Pre-operative tumour embolization), by Indication (Cerebral aneurysm, Ischemic strokes, Arteriovenous malformations and Fistulas, Others), By End User (Hospitals, Neurology Clinics, Ambulatory surgical centres) and Geography

 

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Interventional Neurology Devices Market size valued USD 2.5 billion in 2021, growing at a CAGR of 9.2% during the forecast period 2022-2028. Interventional neurology is a speciality which utilizes the minimally invasive procedures with image-guided techniques for the diagnosis and treatment of various chronic neurological diseases related to veins & arteries of neck, brain, and spine. The most commonly treated diseases with interventional neurology include head and neck tumours, ischemic strokes, meningiomas, spinal vascular malformations, cerebral aneurysm, and intracranial atherosclerosis among others. Different types of materials such as cobalt, platinum, and nitinol are used in neurovascular devices for ischemic stroke prevention and aneurysm. Increase in the global aging population, technological advancements in the interventional neurology devices, a rise in prevalence of ischemic stroke and hemorrhagic conditions, and growing demand for minimally invasive procedures are anticipated to fuel the interventional neurology devices market. Furthermore, advantages of an interventional procedure such as the minimal possibility of infection and surgical trauma, favourable reimbursement policies, and rise in product development and commercialization are expected to bolster the interventional neurology devices market over the forecast period. However, stringent regulatory guidelines for the product approvals, a high cost of the treatment, and lack of skilled professionals might impede the growth of  the market. Key Developments: In June 2017, DePuy Synthes acquired Sentio, LLC to enable the innovation in minimally invasive surgery of spine In October 2016, St. Jude Medical, Inc. received FDA approval for Amplatzer PFO used in the treatment of recurrent ischemic stroke and launched in U.S. market

Global Interventional Neurology Devices Market Summary

Study Period

2023-29

Base Year

2022

CAGR

9.2%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Interventional Neurology Devices Market Dynamics

Interventional Neurology Devices Market is growing at a significant CAGR owing to increase in the demand for minimally invasive neurological surgical procedures. A rise in the prevalence of neurological disorders (according to World Health Organization, more than 6.8 Mn people are dying from neurological disorders) expected to drive the revenue growth of interventional neurology devices market. Moreover, a majority of the market players are focusing on the development of novel devices with minimally invasive techniques. Acquisitions and mergers, collaborations, product approvals, and launchings are strategies followed by the companies for dominating the interventional neurology devices market. For instance, in June 2016, Terumo Corporation acquired Sequent Medical, Inc. for the development of a novel medical device for the aneurysm embolization. Moreover, in January 2012, Covidien received FDA approval for the Solitaire revascularization device interventional management of stroke trial.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Global Interventional Neurology Devices Market Segmentation

By Product Type
  • Carotid artery angioplasty and stenting
  • Vertebroplasty
  • Stroke therapy
  • Pre-operative tumour embolization
by Indication
  • Cerebral aneurysm
  • Ischemic strokes
  • Arteriovenous malformations and Fistulas
  • Others
By End User
  • Hospitals
  • Neurology Clinics
  • Ambulatory surgical centres
by Technology Type
  • Carotid artery angioplasty and stenting,
  • Vertebroplasty,
  • Stroke therapy,
  • Pre-operative tumour embolization

Frequently Asked Questions

The interventional neurology devices market is projected to expand at a CAGR of 9.2% during the forecast period

Medtronic plc) (Ireland), Stryker Corporation (U.S.), Depuy Synthes (Johnson and Johnson Services Inc.) (U.S.), Abbott Laboratories (U.S.), Terumo Corporation (Japan), Bayer AG (Germany), Boston Scientific Corporation (U.S.), Penumbra, Inc. (U.S.)

North America is the fastest-growing region for interventional neurology devices market

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  • Medtronic plc) (Ireland)
  • Stryker Corporation (U.S.)
  • Depuy Synthes (Johnson and Johnson Services Inc.) (U.S.)
  • Abbott Laboratories (U.S.)
  • Terumo Corporation (Japan)
  • Bayer AG (Germany)
  • Boston Scientific Corporation (U.S.)
  • Penumbra, Inc. (U.S.)