Report ID :10328957 |
Published Date : 21 Mar 2025 |
Report Format : |
Delivery Timeline :48-72 Business Hours
Neurovascular Devices Market Report Scope
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 3 Billion |
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Forecast Year Market Size (2033) |
~ USD 5 Billion |
Global Neurovascular Devices Market Highlights Over 2023 - 2033
The global neurovascular devices market is estimated to garner a revenue of about ~USD 5 billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of approximately ~USD 3 billion in the year 2022. The most important factor contributing to the market growth is the growing prevalence of neurologic disorders. According to the Global, Regional, and National Burden of Stroke and Its Risk Factors, 1990-2019 by the National Centre for Biotechnology Information (NCBI), stroke remained the second-leading cause of death and the third-leading cause of disability and death combined worldwide in 2019. Also, NCBI statistics on cerebral aneurysms approximate the worldwide presence of the neurovascular condition at 3.2%.
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The global increase in the aging population is one of the reasons for the rise in neurological diseases and the increased demand for neuroendovascular devices. According to the data by World Bank, the total population aged 65 and above in 2021 was more than 700 million. Using neuroendovascular devices for treatment ensures minimally invasive therapies for seniors suffering from neurovascular disorders. Another factor resulting in neurological diseases is rising unhealthy lifestyles, including tobacco use. Each year nearly 9 million people die from direct tobacco use and exposure to second-hand smoke. Thus the increase in neurological conditions is a primary factor in the growing demand for neuroendovascular devices.
Global Neurovascular Devices Market: Growth Drivers and Challenges
Growth Drivers
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Continuous Rise in the Presence of Geriatric Population – In 2020 people aged 65 and above were about 9% of the world's population. The changes happening to the central nervous system and brains are the main reasons for the neurological disorders among the aging population. Common neurological disorders among seniors include neuropathy, strokes, Alzheimer's disease, and Parkinson's disease. Also, the weaker walls of blood vessels in older generation increases the risk of a brain aneurysm in them. Thus, growing geriatric population is a significant factor propelling the growth of global neurovascular devices market.
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Alarming Growth in the Population with Hypertension - Hypertension can result in neurological disorders, including dementia and stroke. From 1990 to 2020, the number of people living with hypertension has doubled to about 2 billion.
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Harmful Use of Alcohol – Regular consumption of alcohol can adversely affect the neurological system. Neurological disturbances due to alcohol consumption commonly manifest through cerebellar degeneration, polyneuropathy, and dementia. Moreover, alcohol abuse is the reason for about 300 injury and disease conditions.
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World-Wide Prevalence of High Cholesterol Levels - Excess cholesterol in blood causes fatty deposits, buildup and clots in narrow blood vessels hindering blood flow and causing a stroke. It is estimated that around 29 million of the adult population in the world have high levels of total serum cholesterol.
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Considerable Rise in Neurological Disorder Related to COVID-19 - It is observed that severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infection has been a cause of ischemic stroke. Additionally, more than 35% of COVID-19 patients have manifested neurovascular diseases, including comorbidities in severe cases.
Challenges
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High Medical Expenses for Neurovascular Devices
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Relative Scarcity of Neuro Specialists
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Difficulties Faced by Key Market Players Through Unsupportive Government Laws and Reforms
The global neurovascular devices market is segmented and analyzed for demand and supply by therapeutic applications into ischemic strokes, cerebral aneurysm, carotid artery stenosis, arteriovenous malformations and fistulas, and other diseases. Here the ischemic stroke segment is anticipated to hold the largest market share by the end of 2033. Close to 7 million people die from stroke annually. It is estimated that approximately 63% of all incident strokes are ischemic strokes, and globally they kill more than 3 million people. Ischemic stroke occurs when blood clots get stuck in a narrow blood vessel and blocks the blood supply to a specific part of the brain leading to the death of brain cells. The rise in obesity, is another reason propelling ischemic stroke incidences worldwide. It is estimated that, by 2030, more than 500 million people worldwide will be obese, the most affected being low and middle-income countries. Similarly, the prevalence of mental health deterioration and resort to unhealthy lifestyles leads to more cases of ischemic strokes, thus creating more demand for neurovascular care.
Global Neurovascular Devices Market Regional Synopsis
Regionally, the global neurovascular devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the North American region is projected to hold the largest market share by the end of 2033. One of the main reasons driving the market growth is the burden of neurovascular diseases. It is estimated that more than 7 lakhs of the U.S. population experience stroke annually, and about 88% of the strokes reported are ischemic strokes. Similarly, according to the Brain Aneurysm Foundation, the annual number of cases of brain aneurysm ruptures in the United States is over 25,000. The risk factors, including hypertension, smoking, aging, and others also indicate a rising neurovascular devices market trend in North America. For instance, more than 1 million U.S. population visiting the emergency department are diagnosed with essential hypertension. According to the Centers for Disease Control and Prevention (CDC), cigarette smoking was the leading cause of disabilities, preventable disease, and death in the U.S. in 2020. Also, a growing geriatric population in the U.S. is expected to take the neurovascular devices market to further growth.
Market Segmentation
Our in-depth analysis of the global neurovascular devices market includes the following segments:
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By Product |
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By Therapeutic Applications |
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By Process |
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By End-User |
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Key Companies Dominating the Global Neurovascular Devices Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global neurovascular devices market that are included in our report are Medtronic, Johnson & Johnson Services, Inc., Penumbra, Inc., MicroPort Scientific Corporation., Stryker, Terumo Corporation, KANEKA CORPORATION, Integer Holdings Corporation, Perflow Medical Ltd., phenox GmbH, and others.
Global Neurovascular Devices Market: Latest Developments
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September, 2020: Johnson & Johnson Services, Inc.- announced the launch of CERENOVUS Stroke Solutions, a suite of three devices designed to help doctors in clot removal procedures, including mechanical thrombectomy. CERENOVUS operating in neurovascular care comes under Johnson & Johnson Medical Devices Companies.
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April, 2019: Stryker - announced the availability of the Surpass Evolve Flow Diverter for treating brain aneurysms. The device intends to provide physicians exceptional control during the process by maximizing the overall ease of use of the procedure.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal
Frequently Asked Question
The market is segmented by product, therapeutic application, process, end-user and by region.
The ischemic strokes segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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