The global neurovascular devices market is estimated to have reached a value of USD 2.81 billion in 2022 and is projected to grow at a steady Compound Annual Growth Rate (CAGR) of 6.1% to reach USD 4.51 billion by 2030, according to a recent market analysis. This growth is attributed to several key factors, including:
- Rising Prevalence of Neurological Disorders: The increasing incidence of neurological conditions like stroke, cerebral aneurysms, and carotid artery stenosis is driving the demand for neurovascular devices used in minimally invasive treatments.
- Technological Advancements: Continuous advancements in device technology, with improved functionalities and patient outcomes, are fueling market expansion.
- Growing Focus on Minimally Invasive Procedures: The growing preference for minimally invasive procedures, which offer faster recovery times and reduced risk of complications compared to traditional surgeries, is propelling the market forward.
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Market Segmentation:
The neurovascular devices market is segmented by various factors, including:
- Device Type: Cerebral embolization and aneurysm coiling devices, cerebral angioplasty and stenting systems, neurothrombectomy devices, and support devices.
- Therapeutic Application: Stroke, cerebral artery stenosis, cerebral aneurysm, and others.
- Region: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Findings:
- The cerebral embolization and aneurysm coiling devices segment is expected to hold the largest market share due to the increasing prevalence of cerebral aneurysms.
- The neurothrombectomy devices segment is projected to witness the fastest growth rate due to the rising demand for minimally invasive stroke treatment options.
- North America is expected to remain the dominant regional market due to the presence of well-established healthcare infrastructure, high disposable income, and favorable government regulations.