Neurointerventional Devices Market is Expected to Reach a Valuation of US$ 5 Billion by 2031

The neurointerventional devices market was valued at US$ 2.3 billion in 2020 and is projected to grow 2.1X by the end of the decade.

While North America currently leads the global market, worldwide demand for neurointerventional treatment devices is expected to grow at a robust CAGR of 8% through 2031.

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Outlook for Minimally Invasive Technology for Neurointerventional Treatment

The adoption of neurointerventional devices has surged in recent years as more neurological disorders are being treated. Minimally invasive devices and procedures have gained significant popularity and acceptance among neurosurgeons and patients due to faster healing times and reduced discomfort.

Manufacturers are focusing on researching and developing technologically advanced neurointerventional devices to provide effective solutions and maximize revenue potential. The rising demand for these devices among neurosurgeons is expected to drive the development of more precise and effective treatments.

Country-wise Analysis

The U.S. is anticipated to hold a major revenue share in the North American market. Factors such as increased healthcare expenditure, high spending potential of the population, rising prevalence of neurological disorders, and the presence of key market players contribute to the growing demand in the country.

The neurointerventional treatment devices market in the U.S. is expected to be highly lucrative for manufacturers and suppliers as the demand for these devices continues to increase.

Read More: https://www.factmr.com/report/134/neurointerventional-devices-market

Category-wise Analysis

Embolic coils are expected to witness significant demand in the healthcare industry due to their minimally invasive nature and the growing popularity of such procedures.

The demand for neurovascular thrombectomy neurointerventional devices is also expected to be strong, accounting for the second-largest revenue share in the market. Additionally, the demand for balloon neurointerventional devices is projected to rise at the highest CAGR over the next ten years.

Competitive Landscape

Manufacturers are heavily investing in research and development to create technologically advanced neurointerventional devices that offer greater precision and effectiveness. They are also striving to reduce the high costs associated with these devices, which has been a barrier to adoption in many regions.

In January 2021, MIVI Neuroscience, a medical device company, announced the closing of its series B funding round. The funds will be used for the commercialization of MIVI's flagship products, the DAISe™ Thrombectomy System and Q™ Aspiration System, as well as for developing other innovative devices.
In June 2021, Peija Medical's subsidiary, Achieva Medical, received approval from the National Medical Products Administration (NMPA) for its new product, Jasper® SS, a detachable coil. This approval paves the way for the product's commercialization, which is expected to be well-received in the neurointervention field due to its advanced features.

Key Segments of Neurointerventional Devices Industry Survey

· By Product Type:

Embolic Coils Neurointerventional Devices
Neurovascular Thrombectomy Neurointerventional Devices
Carotid Stents Neurointerventional Devices
Flow Diverters Neurointerventional Devices
Embolic Protection Neurointerventional Devices
Stent Retrievers Neurointerventional Devices
Intracranial Stents Neurointerventional Devices
Liquid Embolic Neurointerventional Devices
Intrasaccular Neurointerventional Devices
Balloon Neurointerventional Devices

· By End User:

Hospitals
Ambulatory Surgical Centers

· By Application:

Neurointerventional Devices for Coiling Procedures
Neurointerventional Devices for Stenting
Neurointerventional Devices for Cerebral Angiography
Neurointerventional Devices for Neurothrombectomy Procedure
Neurointerventional Devices for Flow Disruption

· By Regions :

North America
Latin America
Europe
APEJ
MEA

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