Neurothrombectomy Devices Market Growth & Trends
The global neurothrombectomy devices market size is anticipated to reach USD 1.10 billion by 2030, growing at a CAGR of 6.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing incidence of acute ischemic stroke on a global scale is majorly driving the market. Furthermore, increased adoption of unhealthy lifestyles and increasing awareness of the disorder among the population is fueling the market for neurothrombectomy devices.
The outbreak of the COVID-19 has a negative impact on the market as the majority of elective brain procedures were postponed to free-up limited space in healthcare settings to treat COVID-19 patients. For instance, according to the International Journal of Stroke in 2021, it was reported that the total mechanical thrombectomy procedures were decreased by 12.7% from March to May 2020 globally.
However, patients suffering from COVID-19 have subsequently shown neurologic symptoms which are expected to create a favorable environment for market growth in the near future. Thus, COVID-19 might have a positive impact on the market in near future.
Moreover, the introduction of technologically advanced products and the rapid product approval process are factors expected to fuel the market growth during the forecast period. There are various other technologies used in the development of neurothrombectomy devices for the treatment of AIS and its associated symptoms. For instance, in April 2019, Medtronic launched its fourth-generation Solitaire X revascularization device, which is designed for the treatment of AIS.
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Neurothrombectomy Devices Market Report Highlights
Based on products, the clot retrievers segment dominated the market in 2021, with a share of 58.24% owing to the rising prevalence of acute ischemic stroke and an increasing number of product launches by key market players
Based on end-use, the hospital segment dominated the market in 2021 with a share of 71.03% due to improving health care facilities and the availability of advanced equipment in the hospitals
Europe led the market with the maximum revenue share in 2021, owing to the increasing number of patients suffering from acute ischemic stroke. As per the EM Consulte, approximately 1.1 million individuals suffer from stroke disorder amongst which acute ischemic stroke accounts for a significant share
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