Neurothrombectomy Devices Market Size, Share & Trends Report

Neurothrombectomy Devices Market Size, Share & Trends Analysis Report By Product (Clot Retrievers, Aspiration/Suction Devices, Vascular Snares), By End Use, By Region, And Segment Forecasts, 2019 - 2026

  • Published Date: Jun, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-941-8
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 115

Report Overview

The global neurothrombectomy devices market size was valued at USD 567.50 million in 2018 and is expected to expand at a CAGR of 5.4% by 2026. Increasing incidence of acute ischemic stroke on the global scale is majorly driving the growth. Furthermore, unhealthy lifestyle of an increasing number of consumers coupled with increasing awareness regarding the disorder is projected to fuel the demand.

U.S. neurothrombectomy devices Market size

Neurothrombectomy devices are used to destroy and/or retrieve the blood clots in the cerebral neurovasculature. Acute ischemic stroke is one of the common strokes and is caused due to reduction of blood supply to the brain, leading to death of the brain cells.

Neurothrombectomy is one of the most preferred treatments, since it improves functional outcomes and lowers the mortality rate in patients. Rise in cases of acute ischemic stroke especially among geriatric population is majorly affecting the growth of clot retrievers in U.S. According to the World Health Organization (WHO), in 2015, 15 million people suffered from stroke worldwide. This is anticipated to boost the demand for neurothrombectomy devices in near future.

Increasing technological advancements and innovations in the market are anticipated to positively influence the demand over the forecast period. Changing lifestyle of consumers involving adoption of unhealthy habits can increase the risk of acute ischemic stroke and other such disorders, thereby leading to an increased product demand.

Increasing frequency of hemorrhagic stroke due to aging blood vessels and high blood pressure is yet another factor influencing the growth positively. Also, high prevalence of obesity among adults is increasing the risk of strokes, impelling the growth. Furthermore, rising elderly population and risk of the targeted disorder in North America is expected to contribute to the market growth during the forecast period.

Product Insights

Clot retrievers led the neurothrombectomy devices market in 2018 and is expected to expand at the fastest CAGR. Clot retrievers are used for removing blood clots from the blood vessel present in cerebral arteries. High prevalence of the targeted disorder is projected to propel the segment growth.

Aspiration/suction devices segment is expected to grow considerably in near future owing to increasing preference for these products by physicians. These devices vacuum clots out of the blood vessels. Use of latest technology for the treatment of stroke is also expected to drive the segment growth. The targeted devices re-vascularize large vessel occlusion of patients with accuracy. The Food and Drug Administration (FDA) approved Penumbra’s new Penumbra Stroke System in 2007, specially designed for aspiration thrombectomy in the distal intracranial vasculature. Hence, increasing focus by manufacturers on product launch is expected to fuel the segment growth. Vascular snares is another surgical device used to extract thrombus in patients with acute ischemic stroke. These devices are anticipated to witness growth owing to the rise in prevalence of neurological disorders. In addition, the expansion of healthcare domain in most major economies is propelling the market.

End-Use Insights

Hospital segment led the market in the previous years and is anticipated to expand at the fastest CAGR by 2026 due to rise in cases of the targeted disorder coupled with rising awareness. Stroke is one of the leading causes of disability and death for a large population, hence therapy using neurothrombectomy devices is highly preferred.

Global neurothrombectomy devices Market share

Patients prefer hospitals over clinics owing to the availability of enhanced health care facilities. It is essential to treat the patient within eight hours onset of systems. This factor is projected to drive the hospital segment. Rising disposable income of the consumers is also anticipated to positively influence the inclination towards hospitals in the near future. Therefore, growing number of patients suffering from acute ischemic stroke in most regions is expected to drive the growth over the forecasted period.

The ambulatory surgical centers segment is expected to expand at the highest CAGR during the forecast period owing to availability of treatment within six hours onset of acute ischemic stroke. In addition, shorter waiting time is expected to drive the growth.

Regional Insights

North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regional segments. Europe held the highest market share owing to increasing number of patient suffering from acute ischemic stroke. As per the EM Consulte, approximate 1.1 million individuals suffer from stroke disorder amongst which acute ischemic stroke accounts for a significant share. In addition, increasing approvals for neurothrombectomy devices and launch of new products by manufacturers is expected to boost the regional market growth.

North America is anticipated to witness a significant CAGR over the forecast period. Rising population along with increased risk of acute ischemic stroke disorder is fueling the regional market significantly. In addition, technological advancements, growing cases of hemorrhagic, ischemic stroke, and demand for minimally invasive surgeries are other factors driving the growth.

Neurothrombectomy Devices Market Share Insights

Some of the key market players include Medtronic; Acandis GmbH; Stryker; Phenox GmbH; Penumbra Inc.; and Vesalio. The key players are focusing on adopting growth strategies, such as collaborations, partnerships, and mergers for product innovations, conducting conferences and new product launches.

Stryker launched its new Sonopet iQ Ultrasonic Aspirator System in San Diego at the American Association of Neurological Surgeons annual meeting. This technology is designed to increase speed and power with improved control and precision to enhanced ease of use. This launch will help the company enhance its product portfolio for the treatment of acute ischemic stroke.

Penumbra launched Penumbra JET D Reperfusion catheters and Penumbra JET 7 and latest advancements in stroke thrombectomy aspiration technology. It is designed especially for physicians to enable extraction of thrombus safely for patient suffering from acute ischemic stroke, through the delivery of deep vacuum aspiration power of the penumbra engine.

Neurothrombectomy Devices Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 634.2 million

Revenue forecast in 2026

USD 864.02 million

Growth Rate

CAGR of 5.4% from 2019 to 2026

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2026

Quantitative units

Revenue in USD million and CAGR from 2019 to 2026

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Product, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S., Canada, U.K., Germany, France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, Argentine, Colombia, South Africa, Saudi Arabia, UAE

Key companies profiled

Medtronic; Acandis GmbH; Stryker; Phenox GmbH; Penumbra Inc.; Vesalio.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global neurothrombectomy devices market report on the basis of product, end-use, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2026)

    • Clot Retrievers

    • Aspiration/ Suction Devices

    • Vascular Snares

  • End-Use Outlook (Revenue, USD Million, 2015 - 2026)

    • Hospital

    • Emergency Clinics

    • Ambulatory Surgical Centers

  • Regional Outlook (Revenue, USD Million, 2015 - 2026)

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

      • UAE

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