The global neurovascular intervention devices market size is expected to reach USD 4.22 billion by 2028 according to a new study by Polaris Market Research. The report “Neurovascular Intervention Devices Market Share, Size, Trends, Industry Analysis Report, By Product (Artificial Embolization Devices, Stents, Thrombectomy Devices, Support Devices); By Application (Intracranial Aneurysm, Ischemic Stroke, Arteriovenous Malformation); By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Neurovascular intervention devices are used in the treatment of various neurological conditions such as epilepsy, stroke, and some form of CNS tumors. Neurovascular intervention devices include artificial embolization devices, stents, thrombectomy devices, and other support devices such as microcatheters and an embolic protection system.
Stents in neurology are mainly used to open up narrowed arteries or veins in the nervous system. There are various types of stents that include intracranial stents, stenosis stents, stent-graft, aneurysm coil stents, neck reconstruction stents, and carotid stents, which are widely used in healthcare market driving the growth for neurovascular intervention devices industry.
Thrombectomy devices use technologies such as ultrasound-assisted catheter-directed thrombolysis that aids thrombolytic agents to penetrate and clear the clots. Artificial embolization devices are used in plugging arteriovenous malformations with small platinum coils or glue material to control hemorrhaging caused by aneurysms and arteriovenous malformations.
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The increase in neurological disorders, aged population, and increasing demand for non-invasive procedures is expected to boost the global market for neurovascular intervention devices market during the forecast period. Every year nearly 15 million people suffer from stroke and around 5 million deaths worldwide. High blood pressure is responsible for more than 12 million strokes globally.
Several new products have been launched in the global market for neurovascular intervention devices market in the recent period. MicroVention received FDA Approval for the WEB 17 System in January 2021. It is a WEB Aneurysm Embolization System based on microbraid technology. The system consists of a lower profile delivery system along VIA 17 microcatheter and it is used in the treatment of intracranial wide-neck bifurcation aneurysms.
In 2020, Medtronic acquired RIST Neurovascular Inc., which has developed RIST Cath Radial Access Long Sheath (RIST Cath), used in treating various conditions in the coronary, peripheral and neurovascular system. In February 2021, Medtronic has announced the expansion of the restricted site release of RIST Neurovascular, Inc.'s newly acquired radial artery access portfolio, which comprises the Rist Radial Access Selective Catheter and Rist 079 Radial Access Guide Catheter.
Market Participants such as Medtronic Plc, Stryker Corporation, Terumo Corporation (MicroVention, Inc.), Balt Extrusion, Penumbra, Inc., Boston Scientific Corporation, Johnson & Johnson, Silk Road Medical Inc., Abbott Laboratories, Acandis GmbH, and Microport Scientific Corporation are some of the key players operating in the global market for neurovascular intervention devices.
Polaris Market Research has segmented the neurovascular intervention devices market report on the basis of product, application, and region:
Neurovascular Intervention Devices, Product Outlook (Revenue - USD Million, 2016 - 2028)
Neurovascular Intervention Devices, Application Outlook (Revenue - USD Million, 2016 - 2028)
Neurovascular Intervention Devices, Regional Outlook (Revenue - USD Million, 2016 - 2028)