Neuro-interventional Devices Market Growth Accelerated by Rise in Neurological Disorders


 Neuro-interventional devices are medical devices that are used to treat various neurological disorders and conditions affecting the brain, spine and nervous system. These devices such as neurothrombectomy devices, aneurysm coil devices and intravascular stents are used to treat conditions such as ischemic strokes, brain aneurysm, arteriovenous malformations and others. The growing incidence of neurological disorders such as strokes, tumors and spinal injuries have increased the demand for neuro-interventional procedures fueling the need for advanced neuro-interventional devices. The global Neuro-interventional Devices Market is estimated to be valued at US$ 2.44 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The rise in neurological disorders has been a major factor propelling the growth of the neuro-interventional devices market. Neurological diseases including Alzheimer's disease, brain aneurysms, strokes and brain tumors are increasing at an alarming rate. As per the World Health Organization, neurological disorders accounted for nearly 14% of global deaths in 2019. Neurological conditions affect nearly 2.8 billion people globally. The growing prevalence of these diseases has increased the demand for minimally invasive neuro-interventional procedures which in turn is fueling the adoption of advanced neuro-interventional devices. Advanced neuro-interventional devices help in effective treatment of complex neurological conditions with better clinical outcomes.

Segment Analysis
The global neuro-interventional devices market is dominated by the aneurysm coiling and bypass systems segment due to the increasing prevalence of brain aneurysms across the globe. These systems assist in closing off an aneurysm and are minimally invasive procedures. This makes it easy for patients to recover post-surgery without much complications and downtime.

Key Takeaways

The global neuro-interventional devices market is expected to witness high growth. Rising cases of neurological disorders like stroke, brain aneurysms and other neurovascular diseases are anticipated to drive the market growth during the forecast period.

Regional analysis: North America dominates the global neuro-interventional devices market due to factors such as increasing healthcare expenditure, presence of established healthcare infrastructure and high adoption of advanced technologies. Additionally, presence of major players in the region contributes to its leading position in the market. However, Asia Pacific is expected to witness the highest growth rate owing to rapidly improving healthcare infrastructure and growing medical tourism industry in the region.

Key players operating in the neuro-interventional devices market are Penumbra, Inc., Stryker Corporation, Medtronic PLC., Johnson & Johnson Services, Inc., Terumo Corporation, Insera Therapeutics Inc., and Anaconda Biomed S.L. They are focused on launching advanced and innovative products to strengthen their market position.

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