Global Neurothrombectomy Devices Market Report and Forecast 2023-2031

Global Neurothrombectomy Devices Market Report and Forecast 2023-2031

Global Neurothrombectomy Devices Market Outlook

The global neurothrombectomy devices market size attained a value of USD 631.6 million in 2022. The market is further expected to grow at a CAGR of 8.2% during the forecast period of 2023-2031 to attain a value of USD 1,278.6 million by 2031.

Neurothrombectomy Devices Market: Introduction

Neurothrombectomy devices are medical equipment used for the removal of blood clots (thrombi) from the neurovascular system, specifically within the cerebral arteries. These devices are essential in the treatment of acute ischemic stroke, where blood clots obstruct blood flow to the brain, leading to brain cell death and potentially severe neurological deficits.

The market for neurothrombectomy devices has been growing steadily due to a number of factors. The increase in stroke prevalence, especially in aging populations, is a major driver. Additionally, technological advancements in the design and functionality of these devices have significantly improved their efficiency and safety profile, thus promoting their use. The increasing awareness about the importance of rapid stroke treatment and the growing access to healthcare services worldwide also contribute to the growth of this market.

Benefits of Neurothrombectomy Devices:

Effective Stroke Treatment: Neurothrombectomy devices have been found to be effective in re-establishing blood flow to the brain in acute ischemic stroke patients, significantly improving outcomes.
Minimally Invasive: The procedure to use these devices is minimally invasive, typically performed by entering a blood vessel in the groin and navigating to the brain, reducing the risks and recovery time compared to traditional surgery.
Rapid Procedure: The use of these devices can quickly restore blood flow, which is critical since time is brain in stroke treatment - the quicker blood flow can be restored, the more brain tissue can be saved.
Technological Advancements: Modern neurothrombectomy devices, such as stent retrievers and aspiration catheters, have significantly improved in their ability to effectively and safely remove clots.
Reduced Long-term Disability: By effectively treating strokes, these devices can significantly reduce long-term disability, improving quality of life and reducing healthcare costs.
Despite these benefits, it is important to note that not all patients are suitable for neurothrombectomy. Factors like the size and location of the clot, the time since stroke onset, and the patient's overall health can influence the decision. Nevertheless, for suitable patients, neurothrombectomy devices offer a vital lifeline, making the continued evolution of this market essential for global health.

Neurothrombectomy Devices Market Segmentations

The market can be categorised into product type, type, end user, and region.

Market Breakup by Product Type

Clot Retrieval Devices
Aspiration Devices
Vascular Snares
Market Breakup by Type

Retriever
Integrated System
Market Breakup by End User

Hospitals
Clinics
Public Health Lab
Private or Commercial Labs
Physician Labs
Research Institutes
Others
Neurothrombectomy Devices Market Breakup by Region

North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Italy
Others
Asia Pacific
China
Japan
India
ASEAN
Australia
Others
Latin America
Brazil
Argentina
Mexico
Others
Middle East and Africa
Saudi Arabia
United Arab Emirates
Nigeria
South Africa
Others

Neurothrombectomy Devices Market Scenario

The neurothrombectomy devices market is experiencing a remarkable growth phase due to the increasing incidence of ischemic strokes and an aging global population. Strokes are one of the leading causes of morbidity and mortality worldwide, making the need for effective and rapid treatment strategies like neurothrombectomy more crucial than ever.

The market is characterized by continuous technological innovations that aim to improve the effectiveness, safety, and ease of use of neurothrombectomy devices. Manufacturers are investing heavily in research and development, resulting in the emergence of advanced devices like stent retrievers and aspiration catheters. These devices offer improved clot removal capabilities and have shown higher rates of successful revascularization and better clinical outcomes compared to earlier devices.

Geographically, the market is witnessing considerable growth in developed regions such as North America and Europe, driven by the high incidence of stroke, strong healthcare infrastructure, and the availability of skilled professionals. However, emerging markets in Asia Pacific and Latin America are also expected to witness significant growth due to increasing healthcare spending, improving healthcare infrastructure, and growing awareness about stroke and its treatment options.

The market is also characterized by the active role of regulatory bodies. While these organizations ensure the safety and efficacy of neurothrombectomy devices, their stringent regulations can also pose challenges to market players. Despite these challenges, the overall market trend is positive, reflecting the critical role of these devices in stroke treatment.

While the market has promising prospects, challenges such as the high cost of devices and procedures, lack of skilled professionals in developing regions, and potential risks and complications associated with neurothrombectomy may restrict market growth. Despite these challenges, the overall market outlook remains positive, driven by the dire need for effective stroke treatment options and continued technological advancement in the field.

Key Players in the Global Neurothrombectomy Devices Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the neurothrombectomy devices market are as follows:

Medtronic
Stryker
Phenox GmbH
Boston Scientific Corporation
Abbott
Terumo Corporation
W.L. Gore & Associatess, Inc.
Vesalio, LLC
Teleflex Incorporated
Edwards Lifesciences Corporation
ARGON MEDICAL
Koninklijke Philips N.V.
Microport Scientific Corporation
Johnson & Johnson Private Limited