(MENAFN- EIN Presswire) Neurothrombectomy devices market 2030.
PORTLAND, OREGON, UNITED STATES, May 22, 2023 /einpresswire.com / -- The neurothrombectomy devices market size was valued at $481.10 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Market Growth: The Neurothrombectomy Devices market has been experiencing significant growth in recent years. This growth can be attributed to various factors such as an increase in the prevalence of ischemic strokes, advancements in technology, and the rising adoption of minimally invasive procedures.
Rising Stroke Incidence: Ischemic strokes, caused by the blockage of blood vessels in the brain, are a leading cause of mortality and disability worldwide. The increasing incidence of ischemic strokes has led to a higher demand for neurothrombectomy procedures, driving the market growth for Neurothrombectomy Devices.
Technological Advancements: The market has witnessed notable advancements in neurothrombectomy device technology. Manufacturers are continuously developing and improving devices to enhance their efficacy and safety. These advancements include the development of stent retrievers, aspiration catheters, and other minimally invasive devices.
Minimally Invasive Approach: Neurothrombectomy procedures have shifted toward minimally invasive techniques, offering advantages such as reduced procedural risks, shorter hospital stays, and faster patient recovery. This shift has fueled the demand for Neurothrombectomy Devices that enable such procedures.
Favorable Reimbursement Policies: Reimbursement policies play a crucial role in the adoption of medical devices. Many healthcare systems and insurance providers have recognized the effectiveness of neurothrombectomy in treating stroke patients, leading to favorable reimbursement policies. This has positively impacted the market growth for Neurothrombectomy Devices.
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Drivers:
Increasing Prevalence of Ischemic Strokes: Ischemic strokes, caused by the blockage of blood vessels in the brain, are a significant health concern globally. The rising incidence of ischemic strokes is a key driver for the Neurothrombectomy Devices market. As the number of stroke cases increases, the demand for effective and efficient neurothrombectomy procedures rises, leading to the adoption of Neurothrombectomy Devices.
Advancements in Device Technology: Technological advancements have significantly improved the effectiveness and safety of neurothrombectomy procedures. The development of innovative devices such as stent retrievers, aspiration catheters, and clot retrieval systems has revolutionized the field. These devices enable physicians to perform minimally invasive procedures with better precision, leading to improved patient outcomes. The continuous innovation and development of advanced neurothrombectomy devices drive market growth.
Segmentation:
Product Type: Neurothrombectomy Devices can be segmented based on the type of devices used for the procedure. Common types of devices include stent retrievers, aspiration catheters, clot retrieval systems, and other accessories.
End User: The market can be segmented based on the end users of Neurothrombectomy Devices, which typically include hospitals, ambulatory surgical centers, and specialty clinics. Each end user segment may have different requirements and preferences for Neurothrombectomy Devices.
Geography: Geographical segmentation is essential as market dynamics, regulatory policies, and healthcare infrastructure can vary across different regions. The Neurothrombectomy Devices market can be segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Stroke Type: Neurothrombectomy procedures are primarily performed for ischemic strokes caused by blood clot blockages. However, ischemic strokes can occur in different regions of the brain, such as anterior circulation and posterior circulation. Therefore, the market can be segmented based on the type of stroke being treated.
Sales Channel: The market can also be segmented based on the sales channel through which Neurothrombectomy Devices are distributed. This can include direct sales from manufacturers to end users, distribution through medical device distributors, and online sales channels.
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Regional Growth Dynamics:
North America accounted for major neurothrombectomy devices market share in 2021, owing to increase in cases of neurothrombectomy of different organs, robust healthcare infrastructure, presence of key players, and rise healthcare expenditure. However, Asia-Pacific is expected to witness highest CAGR during the forecast period, owing to rise in geriatric population, unmet medical demands, initiatives by government & non-governmental organizations (NGOs) to promote awareness regarding neurothrombectomy devices, and increase in public–private investments in the healthcare sector.
Competitive Landscape:
Medtronic plc
Stryker Corporation
Johnson & Johnson (Cerenovus)
Penumbra, Inc.
Terumo Corporation
MicroVention, Inc. (a subsidiary of Terumo Corporation)
Acandis GmbH
Phenox GmbH
Boston Scientific Corporation
Rapid Medical Ltd.
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