Neurovascular Devices Market Size By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), By P

Neurovascular Devices Market Size By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), By Process (Neurothrombectomy, Cerebral Angiography, Carotid Endarterectomy, Stenting, Microsurgical Clipping, Coiling, Flow Diversion), By Therapeutic Applications (Brain Aneurysm, Stenosis, Ischemic Strokes), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

Global Neurovascular Devices market is expected to grow significantly through 2030 owing to the technological advancements in neurovascular treatments.

Several patients suffering from crippling neurological and behavioral diseases are finding relief, given the significant technological developments in neurovascular devices. Over the course of the projected period, the market size is anticipated to further increase due to the rising prevalence of neurological illnesses and the increasing demand for efficient neurovascular devices.

In April 2022, MicroVention, Inc., Terumo Corporation's wholly owned subsidiary, successfully recruited its first patient in the STRAIT observational research, which examines the BOBBY Balloon Guide Catheter for acute ischemic stroke treatment. The enrollment accelerated the study's progress.

The neurovascular devices market has been divided in terms of product, process, therapeutic application, end-use, and region.

Based on product, the carotid stents segment recorded more than 5.5% market share in 2021 and is slated to expand exponentially due to the growing occurrences of cardiovascular illnesses among patients.

Meanwhile, the intracranial stents segment is anticipated to grow at 4.5% CAGR from 2022 to 2030 credited to the rising prevalence of brain aneurysms and strokes. Intracranial stents are increasingly preferred for the management of intracranial stenosis and stroke.

With respect to process, the microsurgical clipping segment is speculated to grow positively over the review timeline. The expansion is fueled by the surging use of minimally invasive procedures to speed up healing, shorten hospital stays, reduce post-operative problems, and make care more convenient during operations.

On the other hand, the flow diversion segment accounted for 11% market share in 2021 and is likely to expand rapidly through the research period. This is attributable to the recent innovations in the space such as cerebral aneurysm treatment methods that disrupt the intrasaccular flow.

In terms of therapeutic application, the brain aneurysm segment is subjected to accelerate steadily driven by the increase in brain aneurysm cases among the elderly population.

Based on end-use, the clinics segment is estimated to register substantial growth through the forecast years ascribed to the growing desire for clinics. These healthcare settings offer patients suffering from neurovascular illnesses such as aneurysms, hemorrhagic strokes, and others with cost-effective primary care.

From the regional perspective, the Asia Pacific neurovascular devices market is poised to propel at 6% CAGR from 2022 to 2030 given the expanding aging population. Introduction to favorable regulatory policies for medical technologies for enhanced patient care, better healthcare infrastructure, and other aspects would further propel the regional market share.

Meanwhile, the Middle East & Africa neurovascular devices industry is speculated to expand substantially by the end of the analysis timeframe owing to the region’s access to sufficient funding and presence of qualified healthcare professionals.