Neurovascular Embolization Devices Market Size, Share & Trends Analysis Report By Product (Embolic Coils, Flow Diversion Devices), By End-use (Hospitals, Specialty Clinics), By Region, And Segment Forecasts, 2023 - 2030

Neurovascular Embolization Devices Market Size, Share & Trends Analysis Report By Product (Embolic Coils, Flow Diversion Devices), By End-use (Hospitals, Specialty Clinics), By Region, And Segment Forecasts, 2023 - 2030

Neurovascular Embolization Devices Market Growth & Trends

The global neurovascular embolization devices market size is anticipated to reach USD 1.76 billion by 2030, registering a CAGR of 6.60% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increased stroke incidence, growth in demand for minimally invasive procedures, mergers and partnerships among the industry key players drives the market growth. The market is growing rapidly in developing nations with expanding disposable incomes and improved access to healthcare. Device manufacturers have new opportunities for growth as a result of this which is anticipated to expand the market globally.

The rising prevalence of stroke around the world is the main factor driving the growth of the market. Stroke is one of the main causes of disability and death, and as the world's population ages, risk factors for stroke, like diabetes and high blood pressure, are more common. The need for neurovascular embolization tools used in the treatment and prevention of strokes has increased as an outcome of this. Over the course of the projected period, it is anticipated that the prevalence of brain aneurysms and strokes will fuel global market expansion.

For instance, the World Stroke Organization predicted that by 2022, the prevalence of strokes already reached epidemic levels. Over 12.2 million people worldwide were estimated to experience a stroke for the first time this year, and 6.5 million deaths were projected as a result, with 1 out of every 4 adults over the age of 25 expected to suffer a stroke in their lifetime.

The effectiveness and safety of therapies have increased due to ongoing developments in neurovascular embolization technology. Leading medical device companies are expanding their product lines in the neurovascular industry, increasing rivalry and fostering innovation. The key industry players are involved in product manufacturing and development for the advancements in the neurovascular embolization sectors which boosts the industry growth. For instance, in February 2023, the German EMBO-Post Market Surveillance Registry's first patient was treated by Shape Memory Medical. Peripheral vascular embolization was carried out using the IMPEDE and IMPEDE-FX embolization plugs from the company's perspective, multicenter registry research.

Neurovascular Embolization Devices Market Highlights

In 2022, the embolic coils segment dominated with a market share of 77.66%. The embolic coils market has steadily expanded over the years as a result of rising awareness, bettering treatment methods, and developments in coil technology

Among end-use, hospitals held a majority share of the market of 71.87% in 2022. The use of neurovascular embolization devices is one of the treatment choices that hospitals educate patients and their families about when it comes to neurovascular diseases. As hospitals continue to improve their capabilities and adopt the latest medical technologies, the demand for these devices is expected to remain strong

North America dominated the market with a share of 26.44% in 2022. The market is competitive, with both established companies and emerging players striving to capture market share through product innovation, mergers, acquisitions, and partnerships. Thus, the presence of the key players in this region enhances the industry's growth

Please note The report will be delivered in 2-3 business days upon order notification.