Interventional Neurology Market

Report Description
Table of Contents

Report Description

The global interventional neurology market size is estimated to be USD 2,702.4 million in 2021 and is expected to witness a CAGR of 9.25% during the forecast period. Enormous global target patient population is a key driver for the growth of the global interventional neurology market. Additionally, continuous product and technology development along with commercialization, growth in demand for effective neurovascular devices, and favourable medical compensations in the market are some of the other drivers propelling the market growth. Nevertheless, shortage of trained professionals, stringent regulatory framework related to new technology development, and high cost of neurological treatment are expected to restrain the global market growth.

Global Interventional Neurology Market Size (USD Million), 2021-2029

Source: Erevna Healthcare

By Product

Based on product, the market is divided into cerebral balloon angioplasty & stenting systems, neurothrombectomy devices, aneurysm coiling & embolization devices, and support devices. In 2021, the aneurysm coiling and embolization devices segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to the patient’s inclination towards minimally invasive neurosurgical procedures and increase in availability of embolic coils for neurovascular treatment worldwide. The cerebral balloon angioplasty and stenting systems segment is anticipated to grow at a profitable CAGR during the forecast period, due the launch of new products driving the market worldwide.

By Disease

Based on disease, the market is categorized into arteriovenous malformation and fistulas, cerebral aneurysms, ischemic strokes, and other disease pathologies. In 2021, the ischemic strokes segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to rise in cases of ischemic stroke globally and increasing patient partiality for minimally invasive surgeries worldwide. The cerebral aneurysms segment is anticipated to grow at a profitable CAGR during the forecast period, due to continuing technological advancements and growth in target patient population.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the increase in the number of patients suffering from Alzheimer’s, requirement for minimally invasive technologies, and increase in prevalence of neurological disorders in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the growing government and private investment in healthcare sector, increasing establishment of new manufacturing plants in the region, and availability of skilled labour forces at economic costs, are the major factors in this region.

Competitor Insights

Some of the key players in the interventional neurology market are Stryker Corporation (U.S.); Medtronic plc (U.S.); Johnson & Johnson (U.S.); Terumo Corporation (Japan); Penumbra, Inc. (US); Abbott Laboratories (U.S.); Merit Medical Systems, Inc. (U.S.); W. L. Gore & Associates, Inc. (U.S.); MicroPort Scientific Corporation (China); and B. Braun Melsungen AG (Germany). The leading players operating in the interventional neurology industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The interventional neurology market report is categorized into the following segments and subsegments: