Global Neurovascular Thrombectomy Devices Market - 2022-2029

Global Neurovascular Thrombectomy Devices Market - 2022-2029

Market Overview

Neurovascular Thrombectomy Devices size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 6.8% during the forecast period (2022-2029).

Thrombectomy is a surgical procedure to remove the blood clots formed in the blood vessel. Neurovascular thrombectomy, also known as cerebral thrombectomy, is used to retrieve or destroy the blood clots in the cerebral region. The blockage in brain blood vessels is due to various reasons, such as atheroma, an embolus, or a thrombus of one or more arteries. The blood clot formed may lead to draining or leakage of blood into the brain if left untreated. According to the World Health Organization (WHO), 15 million people worldwide suffer from stroke. Of these, five million dies and another five million are permanently disabled. Neurovascular thrombectomy devices remove blood clots in the large blood vessels, re-establish normal blood flow to the brain, and prevent stroke.

Market Dynamics

The neurovascular thrombectomy devices market growth is driven by several factors, such as the rising prevalence of ischemic stroke and technological advancement.

The rising advancements in neurovascular thrombectomy devices fuel the global market growth.

Catheter-based blood clot removal a decade ago was a standard of care for acute coronary revascularization but declined rapidly after several large trials showed no benefit. However, thrombectomy is increasingly used in new therapeutic areas to treat acute stroke, pulmonary embolism, deep vein thrombosis and venous thromboembolism. New technologically advanced products such as acoustic pulse generating ultrasonic devices that quickly resolve pulmonary embolism, deep vein thrombosis and peripheral arterial occlusions are coming into the market. Nowadays, devices come with touch screens that allow physicians to easily monitor and independently manage two devices simultaneously, simplifying bilateral treatment. Moreover, Stryker's Trevo Retriever is the first thrombectomy device to receive FDA clearance to significantly reduce disability in patients up to 24 hours from symptom onset. Until now, mechanical thrombectomy devices like the Trevo Retriever were only cleared for use up to six hours from symptom onset. However, recent randomized clinical data from the Stryker-sponsored DAWN Trial shows that patients presenting in the six- to 24-hour window who meet specific imaging criteria and are treated with the Trevo Retriever are almost four times as likely to be functionally independent at 90 days post-stroke, compared to those treated with medical management alone.

The lack of skilled professionals, high cost and complicated use will hamper the global market growth.

The lack of trained professionals, high device cost, and complicated use hamper the global Neurovascular thrombectomy devices market growth.

Industry analysis.

The global neurovascular thrombectomy devices market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing, Etc.

COVID-19 Impact Analysis

COVID-19 pandemic that the world's trade and economic system since f there were travel and socializing restrictions, causing many to lose business. Furthermore, the supply chain was disrupted, which caused a lack of raw materials in the market, and pushed the pause button on the global research and development projects as the majority of the research institutes and universities were shut down. Moreover, the regular healthcare check-ups were difficult amidst the pandemic leaving a majority of the patients with neurological disorders undetected also, because of the travel and socializing restrictions; there was a reduction in road and traffic injuries reducing the cases of traumatic brain injury, and overall impacting the neurovascular thrombectomy devices market.

Segment Analysis/B>

The devices are predicted to dominate the global market during the forecast period (2022-2029).

Mechanical thrombectomy devices are expected to be the dominant market shareholder over the period forecast (2022-2029). Mechanical thrombectomy devices comprise an array of endovascular tools for removing thrombi from the neurovasculature in acute ischemic stroke patients. In the US, the FDA cleared three classes of mechanical thrombectomy devices: coil retrievers in 2004, aspiration devices in 2008, and stent retrievers in 2012. Mechanical thrombectomy devices work well in large, proximal arteries, rapidly debulking substantial clot burdens resistant to chemical fibrinolysis. While intravenous (IV) tissue-type plasminogen activator has been the only medical therapy approved by the FDA for the treatment of acute stroke in the US, subgroup analyses of the National Institute of Neurologic Disorders and Stroke (NINDS) intravenous (IV) tissue-type plasminogen activator trial have shown that patients with severe strokes only have an 8% likelihood of achieving clinically significant improvement with tissue-type plasminogen activator alone. Updated acute stroke guidelines also recommend mechanical thrombectomy in patients with acute ischemic stroke within 6–16 hours of last known normal who have large vessel occlusion in the anterior circulation. As the cases of strokes rise globally, the market for mechanical thrombectomy devices is positively affected by it.

Geographical Analysis

North America is estimated to subjugate the global neurovascular thrombectomy devices market.

Since there are high incidences of traumatic brain injuries, a growing geriatric population, and key market players in the North American region, it holds the major part of the global Neurovascular Thrombectomy Devices. For instance, according to the data from CDC in 2019, there were around 223,135 TBI-related hospitalizations and 64,362 deaths in 2020 claimed by TBI, making up 611 hospitalizations and 176 deaths daily as TBI the cause. This data from the CDC excludes the TBI treated in emergency departments, primary care, urgent care or untreated ones leaving behind many TBI patients. Patients aged 75 and older were the ones that accounted for the highest number and rates of TBI. Hence, the growing geriatric population in North America is also contributing to its command over the global market. For instance, according to statistics from The Population Reference Bureau, around 55 million Americans aged 65 or older, per the estimate from the Census Bureau’s 2020 population. Moreover, key market players such as Stryker Corporation, Johnson and Johnson, Penumbra Inc., Argon Medical Inc., Teleflex Incorporated, Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Spectranetics Corporation and Medtronic Plc are United States based, ensuring the dominance of North America over the global market.

Competitive Landscape

Some major key players in the market are Johnson and Johnson, Medtronic Plc, Penumbra Inc., Stryker Corporation, Argon Medical Inc., Teleflex Incorporated, Boston Scientific Corporation, Acandis GmbH, Edwards Lifesciences Corporation, Terumo Medical Corporation and Spectranetics Corporation. Stryker Corporation will dominate the market in the neurovascular thrombectomy devices market, owning to portfolio expansion, mergers, collaborations, and acquisitions. The key players are adopting various growth strategies such as mergers & acquisitions, partnerships, and collaborations and increasing research and development and high investment, contributing to the growth of the Neurovascular Thrombectomy Devices Market globally. For instance, AUG 31, 2022, Medtronic partnered with BioIntelliSense for exclusive U.S. distribution of multi-parameter wearables for continuous remote patient monitoring from in-hospital to home. Also, AUG 30, 2022, Medtronic acquired Affera.

Medtronic, Plc.

Overview:

Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

Product Portfolio:

Medtronic plc’s product portfolio for neurovascular thrombectomy Solitaire-X Revascularization Device, React Aspiration Catheters, Riptide Aspiration System, Avigo Hydrophilic Guidewire, Cello Balloon Guide Catheter, Marksman Microcatheter, Navien Intracranial Support Catheter Phenom Catheters and Rebar Microcatheter.

The global neurovascular thrombectomy devices market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.