Global Neurovascular Embolization Devices Market - 2023-2030

Overview

Global Neurovascular Embolization Devices Market reached US$ 3.7 billion in 2022 and is expected to reach US$ 6.0 billion by 2030, growing with a CAGR of 6.4% during the forecast period 2023-2030.

Neurovascular embolization devices block or stop blood flow to undesirable vessel malformations. Aneurysm clips, liquid embolic systems, flow diversion stents, embolization coils, and intravascular flow disruptors are examples of neurovascular embolization devices. Stroke is an ailment where the blood supply to the brain is disrupted, resulting in a lack of oxygen, brain injury, and failure to perform.

It is most often because of a clot in an artery delivering blood to the brain. It can even be induced by hemorrhage when a burst vessel leads blood to drip into the brain. Stroke can induce enduring injury, such as partial paralysis and impairment in vocabulary, cognition, and remembering. The region of the brain involved and the period the blood supply has been blocked affects the sort and severity of disability.

The growing cases of brain stroke and aneurysms, increasing product authorizations, positive outcomes from research activities, market developments including mergers, acquisitions, products introductions, growing awareness among other factors are expected to boost the global neurovascular embolization devices market growth in the forecast period. Further, the growing cases and research fundings are also expected to contribute to the global market growth in the forecast period.

Dynamics

Growing Cases of Brain Stroke and Aneurysms

The growing cases of brain stroke and aneurysms are expected to boost the global market growth during the forecast period. For instance, according to the World Stroke Organization, stroke has already achieved epidemic ratios. Worldwide 1 out of 4 adults above the age of 25 are expected to have a stroke in their lifetime, over 12.2 million individuals globally are anticipated to encounter their first stroke this year and 6.5 million will die as a consequence.

More than 110 million individuals in the globe have encountered a stroke till present in their lives. The prevalence of stroke rises greatly with age, nevertheless, more than 60% of strokes transpire to individuals under the age of 70, and around 16% transpire to those below the age of 50. Moreover, according to the NHS England, about 1 out of 12,500 individuals in England have a ruptured brain aneurysm every year.

Furthermore, brain aneurysm impacts roughly 3.0% of people in the U.K. and the Brain Aneurysm Foundation assesses that over 6.0 million Americans are affected by brain aneurysms annually. In addition, according to the NIH, the global preponderance of cerebral aneurysms is roughly 3.2%, with a standard age of 50 and an altogether 1:1 gender ratio. This ratio varies greatly after age 50, with an increasing female predominance closing 2:1, considered to be owing to reduced circulating estrogen inducing a decrease in the collagen range of the vascular tissue.

Increasing Market Developments

The increasing market developments in the global neurovascular embolization devices market are expected to boost the global market. For instance, in July 2021, Zylox-Tonbridge Medical Technology Co., Ltd., a neuro- and peripheral-vascular interventional medical device corporation secured USD 329 million to sustain the designing and commercialization of its core developments including neurovascular embolization coils, a microcatheter for coiling, among others. Moreover, in January 2023, Fluidx Medical Technology, Inc., disclosed the data concerning the success of the IMPASS Embolic Device in in-vivo research associated with middle meningeal artery (MMA) embolizations which can be utilized for the treatment of chronic subdural hematomas (CSDH) on the surface of the brain.

Similarly, in March 2021, Shape Memory Medical Inc., a designer of innovative treatments for cardiovascular and neurovascular markets, obtained CE Mark Approval for the IMPEDE-FX RapidFill Device, an addition to the IMPEDE portfolio of biodegradable peripheral vascular embolization plugs. Further, in July 2023, Shape Memory Medical Inc. formed a sublicense deal with a global MedTech market leader. Under this, Shape Memory Medical intends to sublicense its proprietary shape memory polymer technology for a narrow indication in a therapeutic area beyond Shape Memory Medical's cardiovascular, endovascular, and neurovascular focus, in retrieval for an upfront license fee, and future landmarks and royalties.

Product Recalls

The product recalls from the market due to safety concerns are expected to hamper the global market growth during the forecast period. For instance, in September 2021, Medtronic recalled its Pipeline Flex Embolization Device and Pipeline Flex Embolization Device with Shield Technology, which are transcatheter devices utilized to plug brain aneurysms. The corporation expressed a risk of the delivery system's wire and tubes fracturing and breaking off when the system is being utilized to position, recover, or push the stent inside a patient.

The FDA has recognized this as a Class I recall, the most severe type of recall. Usage of these devices is estimated to induce severe damage or death. There have been 59 documented device malfunctions, 10 severe damages, and two deaths linked to this recall. The recall encloses 8,825 devices in the United States that were distributed between April 2019 to August 2020. Medtronic is the parent group of Micro Therapeutics Inc., ev3 Neurovascular, which constructs the devices. A recall letter was mailed to all buyers in July 2021, asking them to stop the use of any impacted product and quarantine all unused impacted products immediately.

High Device and Mean Hospitalization Costs

The high neurovascular embolization devices costs and mean hospitalization costs are expected to slow the global market growth in the forecast period. For instance, according to a study published in the Journal of Vascular Surgery, the price of coils used for intracranial aneurysm embolization has continued to rise despite an increase in competition in the marketplace. Coils on the US market range in list price from $500 to $3000.

The average intervention cost was USD 21,687.22, with some variation according to the aneurysm site. Moreover, the mean hospitalization cost for endovascular aortic aneurysm repair was $45,304 (50% operating room supplies, including graft). The average aneurysm-related readmission and reintervention costs were $13,119 and $22,023, respectively. Outpatient payments averaged $657 per person per year, 72% of which is attributable to computed tomography scans.

Segment Analysis

The global neurovascular embolization devices market is segmented based on product type, treatment, indication, end-user and region.

Flow Diversion Stents Product Type Expected to Dominate Market

Owing to the increasing market developments in the Flow Diversion Stents segment it is expected to dominate the global market. For instance, in October 2022, the Medtronic Neurovascular Co-Lab Platform was designed to sustain the pace of much-required innovation in stroke treatment and sustenance. Their community platform strives to modify opinions and technology into breakthrough multinational treatments by providing entrepreneurs and medics understanding and consideration and, most significantly, ensuring that innovation arrives to as many individuals as imaginable around the globe.

Moreover, in January 2023, Therma Bright Inc. financed Israeli Ischemic Stroke Blood Clot Retriever Technologies Startup Inretio Inc. The PREVA basket "ensnares" the clot, enclosing it and shielding the brain from any sub-clots that break off in the thrombectomy therapy. Again, in February 2022, Perfuze, a company involved in designing next-generation catheter-based aspiration technology, secured a USD 23.94 million Series A financing round.

Geographical Penetration

Growing Cases of Stroke and Aneurysm

The increasing cases of stroke and aneurysms in North America are expected to boost the regional market growth, dominating the global market throughout the forecast period. For instance, according to CDC facts revised in 2022, each year over 795,000 individuals in the United States encounter a stroke, approximately 610,000 of these are first or new strokes. Moreover, in the United States, there is assessed to be at least one stroke every 40 seconds, and every four minutes, an individual dies of a stroke. The same source even noted that roughly 87% of all strokes are ischemic strokes, in which blood flow to the brain gets blocked. An assessed 6.7 million individuals in the United States have an unruptured brain aneurysm or 1 in 50 individuals, the yearly rate of rupture is around 8 - 10 per 100,000 individuals.

Further, almost 30,000 individuals in the United States encounter a brain aneurysm rupture annually, it is estimated that a brain aneurysm ruptures every 18 minutes. Furthermore, the increase in the research funding in this region are also expected to contribute to the regional market growth in the forecast period. For instance, in October 2021, the Udall Center at the University of Minnesota Medical School acquired a new USD 11.3 million funding from the National Institute of Neurological Stroke for research purposes.

COVID-19 Impact Analysis

During the COVID-19 pandemic, elective and routine examinations and operations were postponed or discontinued because of redirecting aids to additional emergent therapy for extremely sick individuals and to avert the spread and contraction of COVID-19. Additionally, the workforce was pulled narrow, and healthcare structures witnessed growing turnover rates for full-time and agreement workers, which pushed the system and decreased the capacity to deliver clinical assistance.

The COVID-19 pandemic induced substantial disruption to specified care pathways, including critical conditions including aneurysmal subarachnoid hemorrhage (SAH) (aSAH). There was a relative decrease in the number of patients with aSAH during the COVID-19 pandemic. In spite of the extremely different states of hospitalization, there was no impairing noteworthy impact on the treatment and consequence of admitted individuals with aSAH. A past COVID-19 infection appeared to be an unrelated determining factor affecting favorable results.

By Product Type

• Liquid Embolic Systems
• Embolization Coils
• Aneurysm Clips
• Flow Diversion Stents
• Others

By Treatment

• Ischemic Stroke Solutions
• Hemorrhagic Stroke Solutions

• Indication
  • Brain aneurysm
  • Arteriovenous malformations
  • Others

By End-User

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Academic Research Centers
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• In February 2023, Shape Memory Medical Inc., designer of shape memory polymer for peripheral and neurovascular markets, reported the first patient treated in Germany as component of the EMBO-Post Market Surveillance Registry, the Company's forthcoming, multicenter, registry investigation of its IMPEDE and IMPEDE-FX Embolization Plugs when used for peripheral vascular embolization.
• In 2022, Rapid Medical, a designer of novel neurovascular devices, obtained FDA 510(k) authorization for TIGERTRIEVER 13 for the major vessel occlusions during the 19th Annual Conference of the Society of Neurointerventional Surgery (SNIS) in Toronto.
• In June 2022, Medtronic introduced the CE-marked fourth generation flow system, pipeline vantage with Shield technology, for endovascular treatment of brain aneurysms.

Competitive Landscape

The major global players in the market include: Medtronic plc, Stryker Corporation, Johnson & Johnson Inc., Terumo Corporation, B. Braun Melsungen AG., Integra LifeSciences Corporation, Acandis GmBH, Phenox GmBH, Lepu Medical Technology (Beijing)Co., and Shape Memory Medical Inc. among others.

Why Purchase the Report?

• To visualize the global neurovascular embolization devices market segmentation based on product type, treatment, indication, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of neurovascular embolization devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key product of all the major players.

The global neurovascular embolization devices market report would provide approximately 61 tables, 58 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies