Neurothrombectomy Devices Market Size, Share, Industry Trends and Forecast to 2030

Neurothrombectomy Devices Market Size & CAGR in 2021

The global neurothrombectomy devices market is expected to witness a CAGR of 6.5% from 2021 to 2028. As a result, the market is projected to reach USD 2.5 billion by 2028. The increasing incidence of stroke cases globally is a significant factor driving the market growth for neurothrombectomy devices. Neurothrombectomy devices are crucial in the treatment of acute ischemic stroke, thereby propelling market expansion.

COVID-19 Impact on the Neurothrombectomy Devices Market

The COVID-19 pandemic had a mixed impact on the neurothrombectomy devices market. While there was a temporary slowdown in elective procedures and hospital admissions, the demand for neurothrombectomy devices surged due to the increased prevalence of stroke cases during the pandemic. Healthcare facilities and device manufacturers adopted stringent safety measures to ensure the continuity of essential neurothrombectomy procedures.

Neurothrombectomy Devices Dynamics

The neurothrombectomy devices market is driven by the rising geriatric population, which is more susceptible to strokes. Technological advancements in neurothrombectomy devices, such as the development of stent retrievers and aspiration devices, have enhanced the efficacy of stroke treatment. Moreover, increasing awareness about the importance of timely stroke intervention has boosted the demand for neurothrombectomy devices.

Segments and Related Analysis

The neurothrombectomy devices market can be segmented based on product type, end-user, and region. Product types include stent retrievers, aspiration devices, suction devices, and others. End-users of neurothrombectomy devices are hospitals, ambulatory surgical centers, and specialty clinics. Regionally, North America dominates the market due to the presence of advanced healthcare infrastructure and a high prevalence of stroke cases.

By Region Analysis

1. North America: The largest market for neurothrombectomy devices due to the high incidence of stroke cases and well-established healthcare facilities. 2. Europe: Growing adoption of advanced neurothrombectomy devices and increasing investment in stroke research drive market growth in this region. 3. Asia Pacific: Rapidly expanding healthcare sector and rising awareness about stroke treatment solutions contribute to market development in APAC. 4. Latin America: Increasing focus on improving healthcare infrastructure and access to stroke treatment options propel market growth in this region.

Key Market Players and Competitive Landscape

The key players in the neurothrombectomy devices market include Stryker Corporation, Medtronic, Penumbra Inc., Johnson & Johnson, and MicroVention Inc. These companies are focused on introducing innovative neurothrombectomy devices to enhance patient outcomes and maintain a competitive edge in the market.

Recent Happenings in the Neurothrombectomy Devices Market

1. In March 2021, Stryker Corporation launched a next-generation neurothrombectomy device that offers improved navigability and clot retrieval efficacy. 2. Medtronic introduced a novel aspiration device for neurothrombectomy procedures in May 2021, enhancing the treatment options for acute ischemic stroke patients. 3. Penumbra Inc. collaborated with leading research institutions to study the long-term outcomes of neurothrombectomy procedures in July 2021, aiming to optimize patient care strategies. 4. Johnson & Johnson announced the acquisition of a promising startup specializing in neurothrombectomy devices in September 2021, expanding its product portfolio in the stroke treatment segment. 5. MicroVention Inc. received regulatory approval for its advanced stent retriever device in December 2021, enabling more effective clot removal in neurothrombectomy procedures.