Market research and competitive intelligence provider Fact.MR recently published an updated analysis of the neurointerventional devices market, which found the industry to be worth US$2.3 billion in 2020. The study predicts that the market will reach a value of USD 1 million. $5 billion by 2031, progressing at a strong CAGR of 8% through 2031.

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Healthcare has advanced tremendously over the past decade, which can be attributed to increasing prevalence of disease, proliferation of technology, and increasing overall health care spending. Neurological disorders have increased over the past decade. A major factor driving the neurointerventional devices industry is the increasing prevalence of cerebral aneurysms.

Growing demand for minimally invasive products is a major factor driving the growth potential of the neurointerventional devices market. Minimally invasive products allow patients to heal faster and with far less discomfort than standard surgical procedures. However, the high cost of neurointerventional devices is expected to hamper the market revenue potential globally.

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The growing geriatric population is also expected to play a crucial role in the demand for neurointerventional devices in the coming years. Adoption of neurointerventional devices is currently limited only to developed regions such as North America and Europe, which are expected to be highly lucrative markets during the forecast period. However, the popularity and adoption of neurointerventional devices is expected to see a healthy increase in APAC and Latin America.

Highlights of market research

• By the end of 2031, the value of the neurointerventional devices industry is estimated at US$ 5 billion.
• High cost of neurointerventional devices expected to hamper the market growth.
• Over the next decade, the market is expected to rise at a healthy CAGR of 8%.
• North America is expected to hold the dominant share during the forecast period.
• APAC and Latin America projected a healthy increase in adoption of neurointerventional devices.
• Growing demand for minimally invasive procedures, prevalence of cerebral aneurysm and stroke, and growing geriatric population are the factors driving the demand.

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A Major Part of the Neural Interventional Devices Industry Survey

• By product type:
  • Embolic Coil Neural Intervention Device
  • Neurovascular Thrombectomy Neurointervention Device
  • Carotid Stent Nerve Intervention Device
  • flow diverter neural intervention device
  • Emboloprotective neurointerventional device
  • Stent Retriever Neural Intervention Device
  • Intracranial stent neurointervention device
  • Liquid embolism neurointerventional device
  • Intravesicular neurointervention device
  • Balloon Nerve Intervention Device
• End User:
  • hospital
  • ambulatory surgery center
• application:
  • Neurointerventional device for coiling procedure
  • Nerve Intervention Device for Stenting
  • Neurointerventional device for cerebral angiography
  • Neurointerventional device for neurothrombectomy
  • Neural Intervention Device for Flow Interruption

Benefits reported and key questions answered

• Neurointerventional Devices Market Category and Segment-Level Analysis:  Fact MR provides a detailed analysis of factors influencing sales growth in key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at a regional and local level.
• Neurointerventional Devices Market Historical Volume Analysis : This report compares the Neurointerventional Devices Market historical sales and projected sales performance for 2021-2031.
• Neurointerventional Devices Market Manufacturing Trends Analysis:  The report provides a detailed analysis of the manufacturing trends of the Neurointerventional Devices market. It carefully measures the impact of the changing healthcare needs of key demographics around the world.
• Neurointerventional Devices Market Consumption by Demographics:  This report examines consumer behavior that is influencing the neurointerventional devices market demand outlook over the evaluation period. A close analysis of the impact of the passion for digital trends on the market for neurointerventional devices.
• Post COVID Consumer Spending on Neurointerventional Devices Market Consumption:  The healthcare industry has been significantly impacted by the COVID-19 pandemic. The Fact MR Market Survey analyzed consumer spending after COVID-19. Evaluate how current trends are impacting the spending on healthcare services, impacting the neurointerventional devices market growth.