Neurothrombectomy Devices Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Neurothrombectomy Devices Market is segmented By Product Type (Clot Retrievers, Aspiration/Suction Devices, Vascular Snares, Continuous Flush Catheters, Others) By Application (Ischemic Stroke, Hemorrhagic Stroke, Others) By End User (Hospitals, Ambulatory Surgery Centers, Speciality Clinics, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

The Global Neurothrombectomy Devices Market reached US$ 71.05 million in 2023 and is expected to reach US$ 1,302.98 million by 2031, growing at a CAGR of 6.5% during the forecast period 2024-2031.

Neurothrombectomy refers to the surgical removal of clotted blood from a cerebral vessel as a treatment for ischemic stroke. Neurothrombectomy devices for the treatment of patients with acute ischemic stroke offer several advantages over pharmacologic agents. The use of these devices allows patients to avoid the use of pharmacologic thrombolysis agents, thereby presumably minimizing the risk for ICH. Additionally, treatment of patients with neurothrombectomy devices for acute ischemic stroke can be extended beyond the 3-hour window from symptom onset, beyond which thrombolytics cannot typically be used.

Market Scope

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Market Dynamics: Drivers & Restraints

Rise in  the incidence of acute ischemic stroke

The rise in the incidence of acute ischemic stroke is one of the factors that helps to drive the market during the forecast period. In 2020, the global prevalence of all stroke subtypes was 89.13 million cases; notably, the global prevalence of acute ischemic stroke (AIS) was 68.16 million people. 

In America, around 7.6 million people self-report having had a stroke. It’s estimated that between 2015 and 2035, total direct medical stroke-related costs are projected to more than double, from $36.7 billion to $94.3 billion, with much of the projected increase in costs arising from those ≥80 years of age. Indeed, each year around 795,000 people experience a new or recurrent stroke, of all strokes, 87% are ischemic, and 10% are ICHs.

Furthermore, global neurothrombectomy devices are also driven by various other factors like a rise in the advancements in the devices, a rise in the prevalence of chronic diseases, a rise in the number of surgical procedures and others helping the market to grow during the forecast period.

High costs associated with the devices

Among the treatment options available to treat ischemic stroke, mechanical thrombectomy is the main procedure where the blood clots are removed mechanically by a specialist. The procedure is a highly specialised treatment and thus requires specialised devices for the procedure. These devices are complex to design and expensive to manufacture. The process should be completed within 6 to 24 hours from the start of stroke symptoms. For instance, the cost of stent retrievers and aspiration catheters ranges from USD $9914 per unit respectively. 

Segment Analysis

The global neurothrombectomy devices market is segmented based on product type, application, end-user and region.

The clot retriever from the product type segment accounted for approximately 39.3% of the neurothrombectomy devices  market share

The clot retriever from the product type segment accounted for approximately 39.3%. Clot retriever devices are witnessing significant growth due to the rising prevalence of acute ischemic stroke and an increasing number of product launches by key market players. It is mainly used for removing blood clots from the cerebral arteries. Furthermore, the use of clot retrievers has increased in elderly patients (aged 55 to 65) due to the growing incidence of stroke. Hence, growing cases of targeted disorder are propelling segment growth.

For instance, in April 2022, Medtronic announced the launch of a registry for the collection of real-world data associated with the use of revascularisation devices in acute ischemic stroke (AIS) patients. The Prospective Registry for Assessment of Acute Ischemic Stroke Patients Treated with Neurothrombectomy Devices in India (PRAAN) is an industry-first endeavour to create a post-market registry to assess clinical outcomes associated with the use of medtronic market-released revascularisation devices in patients experiencing acute ischemic stroke.

Geographical Analysis

North America is estimated to hold about 38.4% of the total market share throughout the forecast period

North America is estimated to hold about 38.4% of the total market share throughout the forecast period owing to factors like increasing population, risk of AIS disorder, technological advancements, government investments, and demand for minimally invasive surgeries. Also, the U.S. has seen extensive public and private funding initiatives to raise awareness about advanced devices, while manufacturers' R&D investment and government initiatives contribute to the growth of the regional market.

For instance, in April 2021, the Society of Neurointerventional Surgery (SNIS) and NeuroPoint Alliance (NPA) collaborated with the Society of Vascular and Interventional Neurology (SVIN) to the NeuroVascular Quality Initiative-Quality Outcomes Database (NVQI-QOD).

Covid 19 Impact Analysis

The COVID-19 pandemic significantly impacted the neurothrombectomy devices market, reducing hospital visits and healthcare services due to social distancing measures. It also affected general hospital care for non-COVID-19 patients worldwide. The pandemic affected production and demand, disrupting the supply chain and increasing the financial burden on companies. Scientists and biologists could not work from their labs, stalling progress in clinical trials and causing new therapies to be delayed. 

Competitive Landscape

The major global players in the market include Medtronic Plc, Acandis GmbH, Stryker Corporation, Phenox GmbH, PENUMBRA, INC, Abbott Laboratories, Microport Scientific Corporation, Merit Medical Systems, Inc, Vesalio llc, MicroVention Inc(Terumo Corporation) among others.

Key Developments

• In, October 2021, Phenox GmbH launched PRESET 6-50 mechanical thrombectomy devices globally to expand its technology for acute ischemic stroke. The product has the longest stent retriever in the Phenox product portfolio. This addition of a long stent retriever helps in better patient outcomes and improved mortality rates.

Why Purchase the Report?

• To visualize the global neurothrombectomy devices market segmentation based on product type, application, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analysing trends and co-development. 
• Excel data sheet with numerous data points of the neurothrombectomy devices market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global neurothrombectomy devices market report would provide approximately 64 tables, 61 figures and 186 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies