The market for neurothrombectomy devices is expected to grow at a CAGR of around 6.3% from 2020 to 2027 and expected to reach the market value of around US$ 976.4 Mn by 2027.
Neurothrombectomy devices are U.S. Food and Drug Administration (FDA) approved medical devices intended to retrieve or destroy blood clots in the cerebral neurovasculature by mechanical, laser, ultrasound technologies, or a combination of technologies. Two neuro thrombectomy devices including the MERCI clot retriever and the penumbra system are FDA cleared through the FDA 510(k) process. These devices offer a number of advantages when compared to pharmacologic thrombolysis such as enhanced efficacy in treating large vessel occlusions, rapid achievement of recanalization vs IV rtPA, and greater efficacy with a lower risk for hemorrhagic events. Whereas, neuro thrombectomy devices employ a variety of mechanisms including clot retrievers, aspiration/suction devices, snare-like devices, ultrasonography technologies, and lasers.
The increasing prevalence of acute ischemic strokes is boosting the demand for neuro thrombectomy devices in the market. Acute ischemic strokes or AIS occurs when blood flow through a brain artery is blocked by a clot or a mass of thickened blood. Moreover, AIS is responsible for almost 90% of all strokes. The rising adoption of the unhealthy lifestyle that includes prolonged sitting, smoking, and obesity are supporting market growth. The technological advancements in the treatment procedures with the help of neuro thrombectomy devices are additionally bolstering the market value. The growing awareness among the population about the treatments and increasing disposable income which is supporting the spending power of people is bolstering the market value
On the other hand, the risks associated with the neuro thrombectomy devices like failure to deploy the device or remove the clot, device breakage/fracture, perforation, dissection, and thrombus formation are likely to limit the growth to an extent over the forecast period from 2020 to 2027.
Segment Instance of Global Neurothrombectomy Devices Market
Hospitals Segment Accounted For The Major Revenue Share In The Global Neurothrombectomy Devices Market
In 2019, the hospital segment is leading the market with a major revenue share and the segment is also projected to maintain its dominance over the forecast period from 2020 to 2027. As the neuro thrombectomy devices require professional experience and advanced machinery for the desired task to be done successfully is the factor supporting the high usage of these devices in the hospitals, where a large number of professionals exist along with the needed technical support.
Europe is projected to lead the market with maximum revenue share (%) in near future
Europe is anticipated to dominate the neuro thrombectomy devices market in 2027 with a major revenue share. The presence of major players including Phenox GmbH and Acandis GmbH in the region is further estimated to support the regional market value. The continuous efforts by the major players in order to expand their market share are additionally accelerating the regional market growth. The major economy of the region, Germany is expected to contribute to its significant share in the future period.
Asia Pacific is estimated to experience noticeable growth over the forecast period from 2020 to 2027
Asia Pacific is projected to exhibit the growth over the forecast timeframe from 2020 to 2027due to its emerging economies including China and India. Their increasing investment volume in the healthcare sector is supporting regional market growth. The presence of potential opportunities in the region due to increasing disposable income and changing lifestyle of people is bolstering the risk of stroke or blood clots in the regional population. The growing geriatric population which is prone to develop blood clots is additionally proliferating the regional market value.
Key Market Players
The players profiled in the report include Abbott, Acandis GmbH, Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic, Penumbra Inc., Phenox GmbH, Stryker Corporation, and Vesalio. In 2019, Penumbra Inc. had launched Penumbra JET 7 and Penumbra JET D Reperfusion catheters latest development in stroke thrombectomy aspiration technology.
Market By Product
Market By End-use
Ambulatory Surgical Centers
Market By Geography
Middle East & Africa
The market for neurothrombectomy devices is expected to reach a market value of around US$ 976.4 Mn by 2027.
The neurothrombectomy devices market is expected to grow at a CAGR of around 6.3% from 2020 to 2027.
Hospitals is the leading segment by end-use in the neurothrombectomy devices market.
Clot Retrievers, Aspiration/Suction Devices, and Vascular Snares are the segments by product in the neurothrombectomy devices market.
The increasing prevalence of acute ischemic strokes, rising adoption of unhealthy lifestyle that includes prolonged sitting, smoking, and obesity, technological advancements in the treatment procedures, growing awareness among the population about the treatments and increasing disposable income are some of the factors driving the market growth.
Abbott, Acandis GmbH, Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic, Penumbra Inc., Phenox GmbH, Stryker, Stryker Corporation, and Vesalio are the prominent players in the neurothrombectomy devices market.
Europe is expected to hold the highest market share in the neurothrombectomy devices market in 2027