The global neurothrombectomy devices market size was estimated at around USD $6.54 billion in 2022 and it is projected to hit around USD $12.63 billion by 2032, growing at a CAGR of 6.80% from 2023 to 2032.
Key Pointers
- The clot retriever segment dominated the market for neurothrombectomy devices and accounted for the largest revenue share of 58.24% in 2022.
- The hospital segment dominated the market with a share of 71.14%.
- The ASCs segment is expected to grow at the highest CAGR during the forecast period.
- Europe dominated the market for neurothrombectomy devices and accounted for the largest revenue share of 32.55% in 2022 owing to the increasing number of patients suffering from acute ischemic stroke.
Report Scope of The Neurothrombectomy Devices Market:
| Report Coverage | Details |
| Market Size In 2022 | USD $6.54 Billion |
| Revenue Forecast By 2032 | USD $12.63 Billion |
| Growth Rate From 2023 to 2032 | 6.80% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Segments Covered | Product, End-Use |
| Market Analysis (Terms Used) | Revenue In USD Million/Billion And CAGR From 2023 To 2032 |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Key Companies Profiled | Medtronic; Stryker Corp.; Acandis GmbH; Stryker; Phenox GmbH; Penumbra Inc.; Vesalio |
Increasing incidences of acute ischemic stroke on a global scale are majorly driving market growth. Furthermore, increased adoption of unhealthy lifestyles and increasing awareness of the disorder among the population is fueling the market growth. According to WHO, stroke is the second most common cause of death, followed by ischemic heart disease. Stroke is generally classified into three categories: hemorrhagic stroke, ischemic stroke, and subarachnoid hemorrhage. Ischemic stroke occurs when a blood vessel is blocked, limiting the amount of blood that can reach the brain.
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For instance, according to a report published by World Stroke Organization (WSO) in 2022, more than 62% of all stroke incidents are ischemic strokes. Out of these, 45% of ischemic strokes occurred in men and 55% in women. About 3.3 million people die due to ischemic stroke annually. Furthermore, according to the CDC, in the U.S., there are more than 795,000 stroke victims annually. Of these, about 610,000 are new or first strokes. Thus, the growing prevalence of ischemic stroke is expected to contribute to market growth. Increasing awareness about neurological conditions such as stroke has resulted in people being mindful of the causes and early manifestations of stroke. Moreover, the FDA has been collaborating with neurological devices manufacturers and professional societies, such as the NeuroPoint Alliance and the National Institutes of Health (NIH) (StrokeNet), to help develop robust registries that can also be used to generate data for premarket application and post-market surveillance.
An unhealthy lifestyle has doubled the risk of stroke among people. The most notable causes are unhealthy diet leading to obesity, physical inactivity, increased stress in work or life, and excessive consumption of alcohol & tobacco. Hypertension, cigarette smoking, and diabetes are recognized as primary risk factors for stroke. An unhealthy diet containing trans fats, cholesterol, and saturated fats may lead to stroke. Stroke remains the leading cause of mortality and morbidity due to the adoption of unhealthy lifestyles. For instance, according to CDC, one of the main factors contributing to major long-term disability is stroke. More than half of stroke survivors who are 65 years and older experience reduced mobility. Thus, increasing the adoption of unhealthy lifestyles is likely to boost the neurothrombectomy devices industry.
Furthermore, the introduction of technologically advanced products and rapid product approval process are factors expected to fuel market growth over the forecast period. There are various other technologies used in the development of neurothrombectomy devices for the treatment of AIS and its associated symptoms. For instance, in January 2023, Infinity Neuro announced CE Mark approval for its Inspira aspiration catheters. This is the company’s debut product. The company intends to follow up on it in 2023 and beyond with the release of a full line of products for the treatment of ischemic and hemorrhagic stroke.
Global Neurothrombectomy Devices Market Report Segmentation:
Product
- Clot Retrievers
- Aspiration/Suction Devices
- Vascular Snares
End-use
- Hospital
- Emergency Clinics
- Ambulatory Surgical Centers
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