Interventional neurology is the application of minimally-invasive or non-surgical techniques to treat various neurovascular diseases. It involves inserting various medical devices and instruments through small entry points, usually via artery, to prevent or open blockages in blood vessels in the brain. Some key procedures performed are aneurysm coiling, carotid artery stenting, intracranial atherectomy, aneurysm repair, and neurothrombectomy. Such procedures help in treating conditions like ischemic stroke, intracranial stenosis, brain aneurysms, and arteriovenous malformations. Rising incidences of neurological disorders along with advantages such as less trauma, quick recovery, and reduced risk of infections have boosted adoption of interventional neurology.
The Global Interventional Neurology Market is estimated to be valued at US$ 2,450.6 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Interventional Neurology market are Penumbra, Inc., Medtronic, Stryker, Terumo Corporation, Johnson & Johnson Services, Inc., Boston Scientific Corporation, MicroPort Scientific Corporation, Merit Medical Systems, W. L. Gore & Associates, Inc., Abbott, Cook, and Palex Medical. Penumbra, Inc. dominates the thrombectomy devices segment for ischemic stroke treatment while Stryker and Medtronic have strong presence in neurovascular coils and stents segment.
The rising geriatric population which is more prone to neurological disorders along with growing awareness about minimally invasive treatments is driving the demand for interventional neurology. Various initiatives by governments and health organizations to spread awareness about treatments for conditions like ischemic strokes is further supporting the market growth.
Technological advancements in the field of neurovascular devices, hemodynamic flow diversion stents, advanced neuromonitoring solutions, and clot retrieval devices has increased the success rate of interventional procedures. Ongoing research to develop bioabsorbable stents, novel devices to improve first-pass recanalization, and product improvements is expected to provide new opportunities over the forecast period.
Market Trends
The increasing demand for minimally invasive neurosurgical procedures and emergence of ambulatory surgical centers are key trends in the interventional neurology market. Ambulatory surgical centers offer several advantages like lower costs, reduced wait times, and increased availability especially in rural areas which is driving their popularity for interventional neurology treatments. Development of bioabsorbable stents and flow diversion technologies is another trend supporting market growth by offering enhanced efficacy and safety.
Market Opportunities
Rising incidence of strokes and brain aneurysms in emerging economies presents significant opportunities for players. Increasing healthcare expenditures of these nations are enhancing accessibility to advanced treatments. Secondly, continuous product innovation through R&D in devices, materials, and drug coatings presents new opportunities. Ongoing clinical research on novel therapies for complex cases of ischemic strokes also provides untapped potential.
Impact of COVID-19 on Interventional Neurology Market
The COVID-19 pandemic impacted the growth of the interventional neurology market initially due to decline in demand for elective procedures and lockdowns imposed across regions. Patient visits to hospitals reduced significantly during the peak times of the pandemic in 2020 and 2021 due to fear of contracting the virus. This led to postponements and cancellations of several non-essential diagnostic and interventional procedures in the neurology area. However, as the pandemic is receding with improving vaccination rates worldwide, the market is witnessing steady recovery in growth. Key factors fueling the bounce back include clearance of deferred non-urgent cases, restart of clinical trials for new therapies and devices, and improved accessibility to healthcare facilities. Market players are focusing on product innovations, digitalization of services and development of telehealth and remote patient monitoring platforms to sustain momentum in the post-pandemic era.
In terms of regions, North America accounted for the largest share of the Interventional Neurology market in value terms as of 2021. This is attributed to presence of advanced healthcare infrastructure, high treatment costs, and favorable reimbursement policies for novel therapies in countries like the US and Canada. Going forward, Asia Pacific is projected to witness the fastest growth during the forecast period attributed to improving access to healthcare services, rising medical tourism, increasing healthcare expenditure and strategic expansions of leading market players in emerging nations. Growing affluence and awareness levels coupled with government initiatives are supporting market growth in the region. Europe and Latin America regions are also anticipated to showcase lucrative opportunities.
With recovery taking root, supportive government policies for healthcare sector and new product innovations, the interventional neurology market has strong prospects for accelerated growth in the coming years despite initial setbacks during the pandemic years. Continued focus on R&D for complex diseases, expansion to underpenetrated areas and strategic alliances will shape the future performance of key players.
Market HighlightsThe Global interventional neurology market is expected to grow at an approximate CAGR of 7.8% during forecast period, 2018–2023.Increasing participation of market players is the key factor driving the interventional neurology market.
For instance, in 2018, Rapid Medical announced CE Mark approval in the European Union for its Tigertriever 13 stent retriever for the treatment of ischemic stroke.Various other factors such as technological advancements, presence of a large target patient population, favourable medical reimbursements and growing demand for effective neurovascular devices are also expected to propel the growth of the market.However, lack of skilled neurosurgeons and stringent regulations can hinder the market growth over the forecast period.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/7211Regional AnalysisThe Americas dominated the global market for interventional neurology owing to presence of major market players and rising geriatric population.In 2017, it was estimated that Europe stood second in the global interventional neurology market.
Factors such as growing healthcare sector, increasing penetration of the market players within the region, and increasing healthcare expenditure drives the regional markets of the Asia Pacific region.On the other hand, the Middle East and Africa held least share in the global interventional neurology market due to the low per capita income, especially within the African region.
The burden of neurological disorders in African region has been increasing over the years.
The annual incidence of stroke has been estimated to be 316 per 100 000 in Africa.SegmentationThe Global interventional neurology market is segmented based on disease pathology, product, end user and region.The Global market for interventional neurology, by disease pathology is segmented into cerebral aneurysms, arteriovenous malformation and fistulas, ischemic strokes, and others.The market, by product, is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty and stenting systems, neurothrombectomy devices, and support devices.The aneurysm coiling & embolization devices segment is further classified as embolic coils, flow diversion devices, and liquid embolic agents.
The cerebral balloon angioplasty and stenting systems segment is further classified as carotid artery stents, and embolic protection systems.
Interventional Neurology Market Research Report: By Disease Pathology (Cerebral Aneurysms, Ischemic Strokes, & Others), Product (Aneurysm Coiling & Embolization, Neurothrombectomy, Support Devices, & Others), End User – Global Forecast Till 2027Market HighlightsThe Global interventional neurology market is expected to grow at an approximate CAGR of 7.8% during forecast period, 2018–2023.Increasing participation of market players is the key factor driving the interventional neurology market.
For instance, in 2018, Rapid Medical announced CE Mark approval in the European Union for its Tigertriever 13 stent retriever for the treatment of ischemic stroke.Various other factors such as technological advancements, presence of a large target patient population, favourable medical reimbursements and growing demand for effective neurovascular devices are also expected to propel the growth of the market.However, lack of skilled neurosurgeons and stringent regulations can hinder the market growth over the forecast period.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/7211SegmentationThe Global interventional neurology market is segmented based on disease pathology, product, end user and region.The Global market for interventional neurology, by disease pathology is segmented into cerebral aneurysms, arteriovenous malformation and fistulas, ischemic strokes, and others.The market, by product, is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty and stenting systems, neurothrombectomy devices, and support devices.
The cerebral balloon angioplasty and stenting systems segment is further classified as carotid artery stents, and embolic protection systems.
The neurothrombectomy devices are further classified as clot retrieval devices, suction and aspiration devices, and snares.
The support devices are further classified as microcatheters, and microguidewires.Based on end user, the market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others.Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/interventional-neurology-market-7211 Regional AnalysisThe Americas dominated the global market for interventional neurology owing to presence of major market players and rising geriatric population.In 2017, it was estimated that Europe stood second in the global interventional neurology market.
Factors such as growing healthcare sector, increasing penetration of the market players within the region, and increasing healthcare expenditure drives the regional markets of the Asia Pacific region.On the other hand, the Middle East and Africa held least share in the global interventional neurology market due to the low per capita income, especially within the African region.
