Neurovascular Embolectomy Devices Market Size, Share & Industry Analysis, By Product Type (Stent Retrieval Systems, Aspiration Systems), By End-user (Hospitals, Specialty Clinics, Others) and Regional Forecast, 2024-2032

Neurovascular embolectomy devices are used in the treatment of embolism formed in the neural blood vessels of the patient. Neural embolism occur when a blood clot is formed in the arteries leading to the brain. The blood clot, usually called a thrombus, is formed in the vascular system and travels to the arteries of the brain. Such clot formation could prove fatal as it can block the blood flow and oxgen supply to the brain, leading to brain damage or stroke. There are various therapeutic options for the treatment of neurovascular embolism, hence, embolectomy was not a highly preferred option for treatment of the disorder. However, constant innovation in the field of medical devices that offer minimal post-surgery recovery time and higher success rates are driving the growth of the market. For instance, in January 2019, Micro Therapeutics, Inc. received U.S FDA approval for the company’s Solitaire Revascularization Device, a mechanical neurovasclar embolectomy device for the treatment of acute ischemic stroke.

Globally, there is an increase in the prevalence of neurovascular disorders stroke, hypertension among others. According to the National Institute of Neurological Disorders and Stokes, around 800,000 individuals suffer from stroke each year in the U.S. Out of which 600,000 are categorized as first time attacks and 185,000 categorized as recurrent attacks. Such high increase in the prevalence of the disorder is estimate to increase the neurovascular embolectomy devices market growth in the coming years.

However, recent product recalls of neurovascular embolectomy devices could hamper the market growth over the forecast duration. For instance, in 2018, Medtronic had to recall its product MindFrame Capture LP, a stent retriever embolectomy device used in patients with ischemic stroke. FDA classified this recall as Class I due to risk of the wire breakage during the surgical procedure.

Key Market Driver -

Increasing incidences of stroke and neurovascular disorders

Key Market Restraint -

Product recalls of neurovascular embolectomy devices

Market Segmentation:

Globally, the neurovascular embolectomy devices market can be segmented on the basis of product type, end-users, and region. Based on the product type, the market can be bifurcated into stent retrieval systems and aspiration systems. Based on the end-user, the market can be categorised hospitals, specialty clinics, and others.

Geographically, the neurovascular embolectomy devices market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Key Players Covered:

Some of the major companies that are present in the neurovascular embolectomy devices market are Boston Scientific Corporation, Cook Medical, Medtronic, LeMaitre Vascular Inc., Teleflex Inc., Straub Medical AG, Johnson and Johnson Services Inc. Edwards Life Sciences among others.

Key Insights:

• Prevalence of Strokes by Key Countries/Region


• Introduction of New Products/Approvals (By Major Players)


• Key Industry Developments Mergers, Acquisitions, and Collaborations


• Technological Advancements in Neurovascular Embolectomy Device Market

Regional Analysis:

Based on geography, the neurovascular embolectomy devices market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region likely dominated the neurovascular embolectomy market and is projected to follow the same trend over the forecast duration. This is attributed to the advanced healthcare infrastructure, higher availability of embolectomy devices in healthcare facilities and increasing awareness regarding neurovascular diseases in the region. Combined with this, higher investment in R&D is anticipated to drive the neurovascular embolectomy devices market in the North America. Europe is projected to be the second highest valued market globally over the forecast duration. Favorable reimbursement policies, robust government initiative for public awareness regarding neurovascular embolectomy devices, and active government funding in healthcare sector is projected to bolster the market growth in the region. However, the neurovascular embolectomy devices market in countries such as China and India of the Asia-Pacific region is estimated to grow at a faster CAGR attributing to increase in the incidence of stroke and higher population of geriatrics. The market in Latin America and the Middle East and Africa are expected to capture lower share in the global neurovascular embolectomy devices market owing to lower availability of advanced neurovascular embolectomy devices in the regions.

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Segmentation

Neurovascular Embolectomy Devices Market Industry Developments

• In January 2018, Medtronic received FDA approval for the company’s Riptide Aspiration System. The device is indicated to treat large vessel occlusive disease.


• In June 2019, Stryker received U.S FDA approval for the company’s Trevo XP ProVue Retriever, a neurovascular embolectomy stent retriever used for patient suffering from ischemic stroke.