Acumen Research and Consulting recently published report titled “Neurothrombectomy Devices Market and Region Forecast, 2022 – 2030”
LOS ANGELES, Jan. 16, 2023 (GLOBE NEWSWIRE) — The Global Neurothrombectomy Devices Market Size accounted for USD 730 Million in 2021 and is estimated to achieve a market size of USD 1,227 Million by 2030 growing at a CAGR of 6.3% from 2022 to 2030
Neurothrombectomy Devices Market Statistics
- Global neurothrombectomy devices market revenue was USD 730 million in 2021, with a 6.3% CAGR between 2022 and 2030
- Europe neurothrombectomy devices market share gathered more than 32.2% in 2021
- By product, clot retriever segment captured over 58% of total market share in 2021
- Medtronic is a leading manufacturer of neurothrombectomy devices, offering a wide range of stroke-treatment tools such as the Solitaire stent retriever and the Trevo ProVue and Trevo XP devices
- Increasing adoption of minimally invasive treatment, fuels the neurothrombectomy devices market value
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Neurothrombectomy Devices Market Report Coverage:
|Market||Neurothrombectomy Devices Market|
|Neurothrombectomy Devices Market Size 2021||USD 730 Million|
|Neurothrombectomy Devices Market Forecast 2030||USD 1,227 Million|
|Neurothrombectomy Devices Market CAGR During 2022 – 2030||6.3%|
|Neurothrombectomy Devices Market Analysis Period||2018 – 2030|
|Neurothrombectomy Devices Market Base Year||2021|
|Neurothrombectomy Devices Market Forecast Data||2022 – 2030|
|Segments Covered||By Product, By End-Use, And By Geography|
|Neurothrombectomy Devices Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Abbott, Acandis GmbH, Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic, Penumbra Inc., Phenox GmbH, Stryker Corporation, and Vesalio.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Neurothrombectomy Devices Market Overview
Neurothrombectomy devices enable patients to avoid or limit the usage of pharmacologic thrombolysis, lowering their risk of intracerebral hemorrhage (ICH). These may be used outside the time constraints imposed by rtPA. These may give faster recanalization than thrombolytics, as well as therapy alternatives for thrombi that are resistant to fibrinolytic breakdown. The rising number of strokes around the world is driving up the need for the use of neuro thrombectomy equipment in the healthcare industry. For instance, the World Health Organization (WHO) estimates that 15.2 million people died from strokes worldwide in 2016. The growing knowledge of the benefits and applications of these technologies is also contributing to their expansion.
Neurothrombectomy Devices Market Trends
The neurothrombectomy devices market is a rapidly growing industry of medical device industry, driven by many aspects such as an increase in stroke incidence, an aging population, and technological improvements. The aging population is a primary driver of the neurothrombectomy devices industry. As people get older, their chance of having a stroke rises, and they are more likely to have severe strokes that necessitate procedures like thrombectomy. This generational trend is driving up demand for neurothrombectomy devices.
The rising incidence of stroke is another important driver of the neurothrombectomy devices market. Stroke is the world’s second greatest cause of mortality and a primary cause of disability, according to the World Health Organization (WHO). As the incidence of stroke continues to increase, so does the growing demand for neurothrombectomy devices. The growing use of less invasive procedures is also driving the expansion of the market. Minimally invasive procedures provide various advantages over standard open surgery, including quicker recovery periods, less pain, and a lower chance of problems.
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Neurothrombectomy Devices Market Segmentation
The global neurothrombectomy devices market has been segmented by Acumen Research and Consulting based on product & end-use.
- Based on the product, the market is divided into clot retrievers, aspiration/suction devices as well as vascular snares. As per the neurothrombectomy devices market forecast, the aspiration/suction devices category is predicted to develop significantly in the next few years.
- Based on the end-user, the market is categorized into a emergency clinics, research institutes, hospitals, laboratories, as well as ambulatory surgical centers. According to the analysis, the hospital segment dominates the global market. The growing number of hospitals, particularly in developing nations around the world, is strengthening segmental market value. Patients’ desire for receiving treatment for brain disorders in hospitals due to the presence of trained specialists and appropriate technical assistance in terms of equipment is also adding to the sectoral market value.
Neurothrombectomy Devices Market Regional Overview
Based on the region, the worldwide neurothrombectomy devices market is divided into Asia Pacific, Europe, North America, the MEA, and Latin America. According to a neurothrombectomy devices industry analysis, Europe is expected to hold the majority of the market throughout the forecast period. The existence of major companies in the region is significantly supporting market growth in the region, as the firms are constantly attempting to increase their market share. The key companies’ continued investment in R&D operations for the creation of new and better products that can eliminate limitations or give more relevant attributes is also expected to boost regional market growth.
Besides that, Asia-Pacific is expected to grow during the forecast period. The region’s fast-rising economies, especially China and India, are bolstering regional market value. Economic expansion in the region’s medical infrastructure also contributed to its growth. The regional market value is increasing as a result of positive government backing and shifting customer lifestyles.
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Neurothrombectomy Devices Market Players
Some of the prominent neurothrombectomy devices market companies are Medtronic, Edwards Lifesciences Corporation, Abbott, Boston Scientific Corporation, Phenox GmbH, Stryker Corporation, Vesalio, Penumbra Inc., and Acandis GmbH. To strengthen their position in the brain thrombectomy devices business, these companies have announced mergers and acquisitions, partnerships and collaborations, and new product development. Major firms are also expanding into new markets with modern technology in order to obtain a competitive advantage in the near future.
Some of the key strategies regarding the neurothrombectomy devices industry include:
- In 2019, Medtronic plc launched the fourth-generation Solitaire X revascularization device to the market. This device is intended for use in the treatment of acute ischemic stroke (AIS).
- In 2019, Vesalio has revealed that it has acquired second CE mark authorization spanning multiple novel NeVa neuro thrombectomy design concepts and technology. The new generation NeVa gadget improves on the Drop Zone and Smart Marker innovations while also introducing first-to-market features like a distal filter.
- Ceretrieve, a company that creates a one-of-a-kind neuro-thrombectomy device with integrated embolic shielding for complete clot retrieval, has secured $1.5 million to enhance clinical outcomes in ischemic stroke patients using a next-generation aspiration catheter. In January 2021, Amir Belson, M.D., will also join the firm as chairman.
- Stryker introduced the Sonopet iQ Ultrasonic Aspirator System at the annual meeting of the American Association of Neurological Surgeons in San Diego. This technology is intended to improve accuracy and precision while increasing speed and power for greater ease of use.
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