Interventional neurology involves minimally invasive endovascular procedures to treat various neurological disorders. Interventional neurology devices such as embolization coils, stents and flow diverters are used to treat aneurysms, arteriovenous malformations and strokes. These interventional procedures provide several advantages over open surgery such as less recovery time, reduced risk of infection and shorter hospital stays. The global Interventional Neurology Market is estimated to be valued at US$ 2,450.6 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The increasing adoption of minimally invasive neurosurgery procedures over traditional open surgeries is one of the major factors spurring the growth of the global interventional neurology market. Minimally invasive procedures reduce blood loss, pain and risk of infection and allow for shorter hospital stays and quicker recovery time. With advancement in technology, interventional devices have become more accurate and easier to use, making minimally invasive procedures more feasible and accessible. This has increased their acceptance among patients and healthcare professionals for treatment of various neurological disorders.
Segment Analysis
The global interventional neurology market can be segmented based on product type, application, end-user, and region. Based on product type, the market is categorized into neurovascular devices, cerebral balloon angioplasty and stenting systems, aneurysm coiling and embolization devices, intrasaccular devices and carotid artery stenosis treatment devices. The aneurysm coiling and embolization devices segment dominated the market in 2023 owing to the rising prevalence of cerebral aneurysm, hemorrhagic strokes, increased adoption of minimally invasive neurosurgical procedures and availability of reimbursement for these procedures.
Key Takeaways
The global interventional neurology market is expected to witness high growth over the forecast period.
Regional analysis: North America dominated the market in 2023 owing to well-developed healthcare infrastructure, advanced technologies, and favorable reimbursement policies. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period as countries in this region are actively investing in healthcare infrastructure development.
Key players operating in the interventional neurology market are Penumbra, Inc., Medtronic, Stryker, Terumo Corporation, Johnson & Johnson Services, Inc., Boston Scientific Corporation, MicroPort Scientific Corporation, Merit Medical Systems, W. L. Gore & Associates, Inc., Abbott, Cook, and Palex Medical. Penumbra, Inc. continues to dominate the market with its wide product portfolio such as Penumbra system and Indigo System for thrombectomy. Medtronic has a strong foothold with the launch of Solitaire revascularization device specifically for large vessel occlusion strokes treatment.
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