Neurointerventional Devices Market Overview

1. What is the Market Size & CAGR of Neurointerventional Devices Market in 2021?

The global neurointerventional devices market is expected to grow at a CAGR of 5.2% from 2021 to 2028. The market size is projected to reach USD 3.5 billion by 2028.

2. COVID-19 Impact on the Neurointerventional Devices Market

The COVID-19 pandemic had a significant impact on the neurointerventional devices market. With the healthcare systems overwhelmed and resources diverted to managing the pandemic, the market witnessed a temporary slowdown in procedures and device sales. However, as healthcare systems adapted to the new normal, the market started to recover.

3. Neurointerventional Devices Dynamics

The neurointerventional devices market is driven by factors such as the increasing incidence of neurological disorders, advancements in technology, and growing awareness about minimally invasive procedures. The market is also influenced by factors like the aging population, which is more prone to neurovascular diseases.

4. Segments and Related Analysis

The neurointerventional devices market can be segmented based on product type, application, end-user, and region. Product types include embolization coils, neurovascular stents, flow diverters, and others. Applications include aneurysm, arteriovenous malformation, ischemic stroke, and others. End-users consist of hospitals, ambulatory surgical centers, and others.

5. By Region Analysis

The neurointerventional devices market is analyzed across regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates the market due to the presence of advanced healthcare infrastructure, while Asia Pacific is expected to witness the highest growth rate.

6. Key Market Players and Competitive Landscape

Key players in the neurointerventional devices market include Stryker Corporation, Medtronic Plc, Johnson & Johnson, Terumo Corporation, and Penumbra Inc. The market is highly competitive, with players focusing on product innovation and strategic collaborations to gain a competitive edge.

7. Recent Happenings in the Neurointerventional Devices Market

In recent developments, Stryker Corporation acquired RAPID Medical, a company specializing in cerebrovascular imaging and navigation, to enhance its neurointerventional portfolio. Additionally, Medtronic Plc launched the Solitaire X Revascularization Device, a next-generation thrombectomy system for acute ischemic stroke treatment.