Overview
The global neurovascular devices market reached US$ 3.8 billion in 2023 and is expected to reach US$ 8.4 billion by 2033, growing at a CAGR of 9.4% during the forecast period 2025-2033.
Neurovascular devices are specialized medical instruments designed to treat conditions affecting the blood vessels of the brain and spinal cord. These devices are primarily used in procedures related to neurointervention, a branch of interventional radiology, neurology and neurosurgery, which focuses on minimally invasive techniques for diagnosing and treating various neurovascular diseases.
The main purpose of neurovascular devices is to restore blood flow, block or remove abnormal blood vessels, and prevent or treat life-threatening conditions like strokes, brain hemorrhages and aneurysms, using minimally invasive techniques. These devices aim to improve patient outcomes by reducing recovery time, complications, and the need for traditional open surgeries.
The neurovascular devices market is experiencing significant growth, driven by the increasing prevalence of neurovascular disorders and technological advancements in neurovascular devices. Conditions such as stroke, cerebral aneurysms, and arteriovenous malformations are becoming more common, increasing the demand for neurovascular devices.
For instance, according to the World Stroke Organization, there are over 7.6 million new ischaemic strokes each year. Globally, over 62% of all incident strokes are ischaemic strokes. Each year, over 11% of all ischaemic strokes occur in people 15-49 years of age. Each year, over 58% of all ischaemic strokes occur in people under 70 years of age.
Additionally, in May 2024, Penumbra, Inc. announced the CE Mark approval and the launch in Europe of three of its neurovascular reperfusion catheters Red 43, Red 72 with SendIt technology, and Red 78 for the treatment of acute ischemic stroke. According to Penumbra, the devices optimize science-based aspiration thrombectomy, or S-BAT, and are engineered with the latest technology in trackability and aspiration to address a wide range of large vessel occlusions.
Executive Summary
Market Dynamics: Drivers & Restraints
Rising technological advancements in neurovascular devices
The rising technological advancements in neurovascular devices are significantly driving the growth of the neurovascular devices market and are expected to drive the market over the forecast period. Newer neurovascular devices, such as flow diverters, stent retrievers and embolic coils, are designed to be less invasive, reducing recovery times and complications for patients. For instance, in August 2024, Gravity Medical Technology launched its next-generation stroke treatment devices: the Neutron aspiration catheter and the Supernova stent retriever. Early adoption has demonstrated the successful treatment of more than 60 patients worldwide.
Additionally, in June 2024, Terumo subsidiary MicroVention launched its LVIS EVO intraluminal support device to treat wide neck intracranial aneurysms in the U.S. The device is indicated for usage with neurovascular embolization coils in adults to treat saccular intracranial aneurysms with a neck width of 4 mm or greater or a dome-to-neck ratio of less than two that arise from a parent vessel with a diameter between 2 and 4.5 mm.
Devices now integrate with enhanced 2D and 3D imaging technologies, providing real-time visualization to guide procedures. This technology helps neurosurgeons place devices more precisely, ensuring safer and more effective treatments.
For instance, in February 2024, Royal Philips announced major enhancements to its Image Guided Therapy System, Azurion, with the launch of its new Azurion neuro biplane system. Designed to improve productivity and help care teams make the right decisions faster, treat more patients, and achieve better outcomes, the new interventional system features enhanced 2D and 3D imaging and X-ray detector positioning flexibility. The new image-guided therapy system is a complete interventional solution for confident diagnosis, image guidance, and therapy assessment of patients with stroke or other neurovascular diseases
Availability of alternatives
The availability of alternative treatment options is one of the key factors that can hamper the growth of the neurovascular devices market. Several alternatives to device-based interventions exist, and in many cases, these alternatives are preferred due to factors such as cost-effectiveness, patient preference and the less invasive nature of the treatments.
Many neurovascular disorders, such as ischemic stroke or cerebral aneurysms, can be treated using medications rather than interventional devices. Pharmacological treatments like antiplatelet drugs (e.g., aspirin) and anticoagulants (e.g., warfarin, rivaroxaban) can prevent clot formation and reduce the risk of stroke or aneurysm rupture. For instance, the use of thrombolytics (e.g., tissue plasminogen activator, tPA) for acute ischemic stroke can often reduce the need for thrombectomy or other device-based interventions, thus limiting demand for neurovascular devices.
In some situations, traditional open surgery remains the preferred option, especially for complex or large aneurysms and arteriovenous malformations (AVMs). Although less commonly used than minimally invasive methods, open surgery can be seen as a more established and reliable option. For instance, for patients with large or difficult-to-treat brain aneurysms, clipping surgery may be recommended over embolization or flow diversion, which can reduce the market share of neurovascular devices.
Alternatives like stereotactic radiosurgery or laser ablation are sometimes preferred for treating brain tumors, arteriovenous malformations, and other vascular lesions. These methods can offer less risk and are less invasive than traditional neurovascular procedures. For instance, Gamma Knife radiosurgery is frequently used as an alternative to embolization or surgical resection for AVMs, particularly for small lesions.
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Segment Analysis
The global neurovascular devices market is segmented based on product type, application, end-user and region.
Product Type:
The cerebral angioplasty and stenting systems segment is expected to dominate the neurovascular devices market share
Over the years, technological advancements in angioplasty and stenting systems have improved treatment efficacy, safety and patient outcomes. The development of self-expanding stents, drug-eluting stents and balloon angioplasty systems has enhanced the precision and success rates of neurovascular procedures.
For instance, in June 2023, Fluid Biomed Inc. announced the World's first implantation of a polymer-based neurovascular stent in human patients, REDIRECT, its first-in-human clinical trial. Phase 1 of this technical feasibility and safety study has begun with successful device implantation without adverse effects in human subjects at the pre-determined 30-day time point and recruitment is ongoing.
Cerebral angioplasty and stenting are minimally invasive procedures, which are preferred by both patients and physicians because they involve smaller incisions, reduced recovery times, and fewer complications compared to traditional open surgeries. For instance, Angioplasty with stenting for carotid artery disease is performed through a small incision in the groin, making it a less traumatic alternative to surgery. This less invasive nature drives higher adoption of stenting systems in treating neurovascular diseases.
Endovascular treatments, such as cerebral angioplasty and stenting, are increasingly becoming the first line of treatment for neurovascular disorders due to their effectiveness and reduced risks compared to open surgery. This shift in preference is contributing to the dominance of the segment.
Geographical Analysis
North America is expected to hold a significant position in the neurovascular devices market share
North America especially the United States, is a hub for innovation in medical devices, with leading companies such as Medtronic, Stryker Corporation, Terumo Corporation and other leading players developing new and improved neurovascular devices. This includes the development of stent retrievers, flow diverters and clot removal devices that are highly effective in treating stroke and aneurysms.
For instance, in February 2024, CERENOVUS, Inc., part of Johnson & Johnson MedTech, launched CEREGLIDE 71 Intermediate Catheter, a next-generation intermediate catheter with TruCourse indicated for the revascularization of patients suffering from acute ischemic stroke. CEREGLIDE 71 Intermediate Catheter is the latest innovation in a planned CEREGLIDE Family of Catheters to join the CERENOVUS STROKE SOLUTIONS portfolio and is optimized for effective direct aspiration and for the delivery of compatible stent retrievers, including the EMBOTRAP III Revascularization Device, into the neurovasculature.
Asia-Pacific is growing at the fastest pace in the neurovascular devices market
The Asia Pacific region has a growing incidence of stroke, aneurysms, and carotid artery diseases due to lifestyle factors, rising levels of hypertension, smoking, and diabetes, which are risk factors for neurovascular conditions. For instance, the World Health Organization (WHO) reports that Asia, particularly China and India, has a high incidence of ischemic stroke, with nearly 70% of all strokes occurring in low- and middle-income countries in Asia. This significantly boosts the demand for neurovascular devices such as stents, coils, and thrombectomy systems.
There is an increasing awareness of minimally invasive neurovascular procedures such as stenting, angioplasty, and thrombectomy in the Asia Pacific region. As healthcare professionals and patients become more informed about the benefits of these procedures, the demand for neurovascular devices increases. For instance, the use of thrombectomy systems like the Solitaire FR Stent Retriever is growing in countries like India and China as part of the initiative to improve stroke treatment outcomes.
Competitive Landscape
The major global players in the neurovascular devices market include Medtronic plc, Stryker Corporation, Terumo Corporation, MicroPort Scientific Corporation, Johnson & Johnson, Penumbra, Inc., ASAHI INTECC USA, INC., Acandis GmbH, Rapid Medical, NeuroVasc Technologies, Inc. and among others.
Scope
| Metrics | Details | |
| CAGR | 9.4% | |
| Market Size Available for Years | 2018-2033 | |
| Estimation Forecast Period | 2025-2033 | |
| Revenue Units | Value (US$ Bn) | |
| Volume (Units) | ||
| Segments Covered | Product Type | Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices, Trans Radial Access Devices |
| Application | Cerebral Aneurysms, Ischemic Stroke, Carotid Artery Stenosis, Others | |
| End-User | Hospitals, Specialty Clinics, Surgical Centers, Research Laboratories and Academic Institutes, Ambulatory Surgical Centers | |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa | |
Why Purchase the Report?
- Pipeline & Innovations: Reviews ongoing clinical trials, product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
- Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
- Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
- Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
- Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
- Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
- Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
- Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
- Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
- Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
- Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
- Post-market Surveillance: Uses post-market data to enhance product safety and access.
- Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.
The global neurovascular devices market report delivers a detailed analysis with 62 key tables, more than 57 visually impactful figures, and 179 pages of expert insights, providing a complete view of the market landscape.
Target Audience 2024
- Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
- Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists
- Technology & Innovation: AI/Robotics Providers, R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
- Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
- Consulting & Advisory: Healthcare Consultants, Industry Associations, Analysts.
- Supply Chain: Distribution and Supply Chain Managers.
- Consumers & Advocacy: Patients, Advocacy Groups, Insurance Companies.
- Academic & Research: Academic Institutions.
