Neurothrombectomy Devices Market
Number of pages: 100 | Report Format: PDF | Published date: 20 January, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market size value in 2021 |
US$ 560 million |
|
Revenue forecast in 2030 |
US$ 1246.7 million |
|
Growth Rate |
CAGR of 9.30 % from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Historical Years |
2020 |
|
Segments covered |
Device Type, End User, and Region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study conducted by Growth Plus Reports, the global neurothrombectomy devices market was valued at US$ 560 million in 2021 and is expected to register a revenue CAGR of 9.30% to reach US$ 1246.7 million by 2030.
Market Fundamentals
Ischemic stroke occurs when blood clots block the blood flow toward the brain, and brain cells start to die because of the lack of oxygen, resulting in a stroke. Neurothrombectomy devices are intended for blood clot removal and retrieving clots to treat ischemic stroke. Neurothrombectomy devices are classified as aspiration and clot retrievers.
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Market Dynamics
The global neurothrombectomy devices market revenue is driven by the increasing prevalence of ischemic stroke, high blood pressure, high cholesterol, and cardiovascular diseases. Additionally, technological advancement and the introduction of novel products contribute to the neurothrombectomy market revenue growth. Moreover, favorable reimbursement policies and increasing diagnosis testing contribute to the revenue growth of neurothrombectomy. However, the high cost of neurothrombectomy devices and the requirement for skilled people are holding back the neurothrombectomy market revenue growth.
Market Ecosystem
The global neurothrombectomy devices market has been analyzed from three perspectives: device type, end-user, and region.
Neurothrombectomy Devices Market by Device Type
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Based on the device type, the global neurothrombectomy devices market is segmented into aspiration devices and clot retrievers.
The clot retrievers segment accounts for the largest revenue share in the global neurothrombectomy market owing to the increasing adoption of clot retriever devices, increasing investment in research & development, and the introduction of novel products. For instance, in February 2022, Imperative Care launched the first and only Zoom POD stroke treatment filter to capture clots in the sterile field. Zoom POD stroke solution offers quick and successful clot retrieval during mechanical thrombectomy procedures as a treatment for ischemic stroke. Additionally, the growing prevalence of cardiovascular diseases and thrombophilia contributes to the revenue growth of this segment.
Neurothrombectomy Devices Market by End-User
Based on end-user, the global neurothrombectomy devices market is segmented into hospitals, specialty clinics, ambulatory centers, and others.
The hospital segment leads the global neurothrombectomy devices market in terms of the largest revenue share owing to the requirement of urgent medical attention, the adoption of novel technology, and increasing patient footfall in hospitals for diagnosis and treatment. Additionally, favorable reimbursement policies, the growing prevalence of chronic diseases such as cardiovascular diseases, and strategies taken by prominent players and hospitals contribute to the segment’s revenue growth. For instance, in August 2021, Holland Hospital and Metro Health announced a strategic partnership to provide stroke-focused novel medical procedure neurothrombectomy. Neurothrombectomy is a potentially life-saving procedure involving the surgical removal of a blood clot from a blood vessel. A multidisciplinary team of Holland Hospital and Metro Health experts are prepared to perform these procedures in Holland Hospital's Cath Lab Special Procedures Room.
Neurothrombectomy Devices Market by Region
Based on region, the global neurothrombectomy devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global neurothrombectomy devices market in terms of the largest revenue share. The large revenue share of North America is attributed to the increasing prevalence of chronic diseases, technological advancement, developed infrastructure, and top-notch health services. Additionally, growing expenditure on healthcare, the high adoption rate of novel treatments, and favorable reimbursement policies are contributing to the revenue growth of this region.
Competitive Landscape
The prominent players operating in the global neurothrombectomy devices market are:
Strategic Developments
The expected revenue CAGR for the global neurothrombectomy devices market is 9.3% during the forecast period from 2022 to 2030.
North America is the key growth region in the global neurothrombectomy devices market.
The estimated market size of the global neurothrombectomy devices market is US$ 1246.7 million in 2030.
The increasing prevalence of ischemic stroke, rising chronic diseases such as high blood pressure, high cholesterol, and cardiovascular disease; technological advancement; and the introduction of novel products are driving factors for the global neurothrombectomy devices market revenue growth.
Neurothrombectomy devices are used for blood clot removal and retrieving clots as a treatment for ischemic stroke.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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