Interventional Neurology Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product Type (Cerebral Balloon Angioplasty and Stenting Systems, Neurothrombectomy Devices, Aneurysm Coiling and Embolization Devices, Micro-catheters and Guidewires), by Application, and by Geography.

Market Snapshot

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Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 0 %

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Market Overview

The interventional neurology devices help in the diagnosis, prevention, and treatment of a variety of neurological disorders and conditions, such as Alzheimer’s disease, Parkinson’s disease, major depression, epilepsy, spinal cord injury, and traumatic brain injury. These devices are minimally invasive image-based technologies. The procedures involving these devices are used in the diagnosis and treatment of diseases of the head, neck, and spine.

According to a worldwide WHO report, the prevalence of Alzheimer's and other forms of dementia was nearly 3 per 1000 in 2015. Moreover, the geriatric population is rising globally which is more prone to mental disorders. This burden has led to an increase in research and development of advanced technologies that are not only safer and more efficient but also minimally invasive. These factors have hence contributed to the growth of this market.

However, stringent regulations of regulatory bodies to approve new technologies and high cost of devices have been restraining the growth of this market.

Scope of the Report

The interventional neurology devices are minimally invasive image-based technologies. The procedures involving these devices are used in the diagnosis and treatment of diseases of the head, neck, and spine. In the report, a detailed analysis of the interventional neurology market is provided. The market is evaluated by collating revenues generated across segments, categorized by product type, application, and geography.

By Product Type
Cerebral Balloon Angioplasty and Stenting Systems
Carotid Artery Stents
Embolic Protection Systems
Neurothrombectomy Devices
Aneurysm Coiling and Embolization Devices
Micro-catheters
Guidewires
By Application
Artery Stenosis
Ischemic Strokes
Brain Aneurysm
Vein Stenosis
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Neurothrombectomy Devices segment is expected to register high CAGR in the forecast period

A neuro thrombectomy device is intended to retrieve or destroy blood clots in the cerebral neurovasculature by mechanical (i.e., snare or suction), laser, ultrasound, or a combination of technologies.

Acute ischemic strokes are associated with poor outcomes and high healthcare burden. The use of Neurothrombectomy devices is recommended for patients currently receiving treatments that may have limited efficacy. Currently available Neurothrombectomy devices offer intriguing treatment options in patients with acute ischemic stroke.

Neurothrombectomy devices offer many potential advantages over pharmacologic thrombolysis, including faster achievement of recanalization, enhanced efficacy in treating large-vessel occlusions, and a lower risk for hemorrhagic events. The Merci®, used to restore blood flow in the neurovasculature by removing thrombus in patients experiencing ischemic stroke retriever, was the first endovascular device to receive FDA clearance, in 2004.

Hence, the market for these devices is expected to grow during the forecast period.

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North America dominates the interventional neurology devices

According to the 2017 American Neurological Association report, there are a total of 5.3 million Alzheimer's dementia and 2.2 million other dementia patients in the United States (US), which accounts for 2.4% of the population of the US. Many global players have been attracted to this region due to the demand for minimally invasive technologies and increased prevalence of Neurological disorders.

Overall, the market for neurology devices in the country contributes to the large share in the global market, partly due to a broad base of established medical devices’ manufacturers operating in the space of neurology devices and partly due to the regulatory framework for neurological devices’ approval, which though intricate, is robust enough to ensure speedy approval of new neurology devices.

The market for neurology devices in the United States is expected to experience growth during the forecast period, due to the increasing incidence of chronic neurological illnesses, like Parkinson’s disease and Alzheimer’s disease, among the US population, especially among the elderly.

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Competitive Landscape

The majority of the interventional neurology devices are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise in awareness of minimally invasive technologies, which has helped the market grow hence increasing the market.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Incidence of Neurological Disorders

      2. 4.2.2 Risng Demand for Minimally Invasive Treatment

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Devices

      2. 4.3.2 Stringent Regulatory Scenario

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Cerebral Balloon Angioplasty and Stenting Systems

        1. 5.1.1.1 Carotid Artery Stents

        2. 5.1.1.2 Embolic Protection Systems

      2. 5.1.2 Neurothrombectomy Devices

      3. 5.1.3 Aneurysm Coiling and Embolization Devices

      4. 5.1.4 Micro-catheters

      5. 5.1.5 Guidewires

    2. 5.2 By Application

      1. 5.2.1 Artery Stenosis

      2. 5.2.2 Ischemic Strokes

      3. 5.2.3 Brain Aneurysm

      4. 5.2.4 Vein Stenosis

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott

      2. 6.1.2 B. Braun Melsungen AG

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Johnson & Johnson

      5. 6.1.5 Medtronic

      6. 6.1.6 Merit Medical Systems.

      7. 6.1.7 Penumbra, Inc.

      8. 6.1.8 Stryker Corporation

      9. 6.1.9 Terumo Corporation

      10. 6.1.10 W. L. Gore & Associates.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Interventional Neurology Devices Market market is studied from 2018 - 2026.

The Interventional Neurology Devices Market is growing at a CAGR of 0% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott, B. Braun Melsungen AG, Boston Scientific Corporation, Medtronic PLC, Stryker Corporation are the major companies operating in Interventional Neurology Devices Market.

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