Neurothrombectomy devices Market By Product Type (Clot Retrieval Devices, Aspiration Devices, Snares), By End User (Hospitals, Specialty Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The neurothrombectomy devices market was valued at $481.1 million in 2021, and is estimated to reach $1,192.26 million by 2031, growing at a CAGR of 9.5% from 2022 to 2031.
Neurothrombectomy is a surgical procedure in which blood clot is removed from blood vessel. A blood clot in the brain can cause an ischemic stroke, which is caused by an artery to the brain becoming blocked and starving a portion of the brain of oxygen and nutrients. A clot in the brain can further cause a buildup of cellular waste and carbon dioxide because the brain will be unable to clear this waste properly. This can cause the cells around the blockage to die, and the neurons in this portion of the brain to stop working, thus, resulting in damage throughout the body. Neurothrombectomy is used to treat acute ischemic stroke, which is associated with poor outcomes and high health care burden.
The growth of the global neurothrombectomy devices market is majorly driven by surge in incidence of acute ischemic stroke along with the demand for minimally invasive procedures and increase in cases of head injuries due to motor vehicle accidents. In addition, increase in investment in development of neurothrombectomy devices by key players is expected to notably contribute toward the market expansion. For instance, according to the National Center for Health Statistics, every year, more than 795,000 people in the U.S. have a stroke. About 610,000 of these are first or new strokes. In addition, according to the Center for Disease Control and Prevention, approximately 87% of all strokes reported are ischemic stroke. For instance, according to the Southwestern Medical Center, about 795,000 people in the U.S. suffer from a stroke every year. Furthermore, according to the National Center for Biotechnology Information (NCBI), strokes occur more commonly in women than in men,
In addition, women who use oral contraceptives may be at an increased risk for blood clotting. Women who have a history of blood clots are over the age of 35 or smoke and continue to use contraceptives have an extremely high risk of developing blood clots. Therefore, increased used of contraceptive pills propels the growth of market. Moreover, increase in awareness about neurothrombectomy devices and surge in cases of inflammation of superficial vein, atherosclerosis, and ischemic stroke require neurothrombectomy as immediate treatment, thus propelling the market growth. In addition, technological advancements; launch of various products; adoption of various strategies among the key players such as acquisition, collaboration, and agreement drive the growth of the global neurothrombectomy devices market. For instance, Acandis GmbH announced that it has received European CE mark approval for its APERIO hybrid thrombectomy device in May 2019. APERIO hybrid thrombectomy device is intended for restoration of the arterial flow in patients diagnosed with ischemic stroke due to large intracranial vascular occlusion.
However, unfavorable reimbursements in emerging countries as well as complications or risks associated with neuro thrombectomy devices are expected to hamper market growth during the forecast period. The market growth of the neurothrombectomy devices is further restrained due to high cost of neurothrombectomy devices. On the contrary, the healthcare business is projected to witness growth due to surge in prevalence of venous thromboembolism, rise in cases of head injuries due to accidents, increase in incidence of ischemic stroke, rise in investments in development of neurothrombectomy devices, and surge in awareness about these devices.
The global neurothrombectomy devices market is segmented into product type, end user, and region. On the basis of product type, the market is classified into clot retrieval devices, aspiration devices, and snares. By end user, it is fragmented into hospitals, specialty clinics, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Acandis GmbH, Boston Scientific Corporation, Medtronic, Microvention Inc., Penumbra Inc., Phenox GmbH, Stryker Corporation, Teleflex, and Vesalio.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current and emerging market trends and dynamics in the neurothrombectomy devices market to identify the prevailing opportunities.
This study presents the competitive landscape of the global market to predict the competitive environment across various regions.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Region & country wise analysis is provided to understand the market trends and dynamics.
Key Market Segments
By Product Type
Clot Retrieval Devices
Aspiration Devices
Snares
By End User
Specialty Clinics
Hospitals
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Medtronic
Stryker Corporation
Acandis GmbH
Penumbra Inc.
Phenox GmbH
Vesalio
MicroVention Inc.
Boston Scientific Corporation
Teleflex Incorporated
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