Cutting-Edge Medical Technologies Helping Neurovascular Devices Market Expand at 8.5% CAGR through 2031

WESTFORD, MASSACHUSETTS, UNITED STATES, August 9, 2024 /EINPresswire.com/ -- Neurovascular Devices Market size was valued at USD 2.90 Billion in 2022 and is poised to grow from USD 3.15 Billion in 2023 to USD 6.04 Billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).

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The market for neurovascular devices is anticipated to be fueled by the rise in neurological diseases, advancements in technology, and a rise in the need for minimally invasive operations. Devices used in interventional neurology treat and diagnose problems linked with the brain vascular system and central nervous system. Endovascular, catheter-based, on top of angiography and fluoroscopy techniques constitute interventional neurology.

Thanks to increased healthcare spending, technological improvements, and the growing prevalence of neurovascular illnesses, the global market for neurovascular devices is growing quickly. Some of the key topics comprise increased employment of minimal invasive techniques, changes in equipment design prompted by technology and more focus on early detection and cure of neurovascular diseases.

Top Player’s Company Profiles

• Acandis GmbH
• Asahi Intecc Co. Ltd.
• Imperative Care Inc.
• Integer Holdings Corporation
• Johnson & Johnson
• Medtronic plc
• MicroPort Scientific Corporation
• Penumbra Inc.
• Perflow Medical Ltd.
• Rapid Medical
• Stryker Corporation
• Terumo Corporation

Promise of AI and Advanced Technologies to Enhance Patient Care

The following are the key Neurovascular Devices Trends that will shape the growth of the market in the next 5 years

• July of 2024 Prominent companies such as Medtronic and Stryker are propelling their neurovascular device portfolios with cutting-edge technology, such as AI-assisted imaging and next-generation stenting devices. These advancements will positively influence the market by enhancing both procedural accuracy and patient outcomes over the next 4-5 years.

• August of 2024 The increasing need for less invasive procedures is fueling research and development of neurovascular devices. On reaction to this, companies such as Johnson &Johnson and Penumbra are diversifying their product lines thus positioning themselves to take a bigger chunk of the expanding market in future years.

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Rising Demand for Minimally Invasive Procedures

• In July 2024, improved stenting technologies and AI-assisted imaging-equipped neurovascular devices were introduced by Medtronic and Stryker. This progress would greatly benefit the health of the patients and would also increase the preciseness of procedures, thus enabling the sector to grow and expand further in the next ten years.

• August of 2024 Businesses like Johnson & Johnson and Penumbra are expanding the range of products they offer in response to the growing demand for minimally invasive procedures. In making this deliberate decision, they hope for a larger slice of pie as they prepare adequately for the changing neurovascular landscape in the next decade that will be driven by funding in high-tech healthcare.

Segments covered in Neurovascular Devices are as follows:

• Disease Pathology
o Cerebral Aneurysm (Embolic Coils [Bare Detachable Coils, Coated Detachable Coils], Flow Diversion Devices, Intracranial Stents, Microcatheters, Guidewires), Arteriovenous Malformation And Fistulas (Liquid Embolic Agents, Occlusion Balloon Catheters, Microcatheters), Ischemic Stroke (Clot Retriever Devices, Suction & Aspiration Devices, Vascular Snares, Microcatheters, Micro Guidewires, Balloon Catheters), Carotid Artery Stenosis (Carotid Artery Stents, Embolic Protection Devices, Balloon Catheters), and Others

• End-Use
o Hospitals and Surgical Centres, Ambulatory Care Centers, Research Laboratories and Academic Institutes

Role of Telemedicine and Innovative Devices in Transforming the Market

Boston Scientific revealed developments in thrombectomy tools in September 2024 with the goal of improving stroke patients' clot retrieval effectiveness. At the same time, Siemens Healthineers will partner up with a leading neurovascular start-up which is supposed to result in devices for therapy that will use the latest imaging techniques thereby improving accuracy during diagnosis and treatment while still in progress. Also, there is a growing demand for remote monitoring devices due to the rise in telemedicine practice hence companies such as Abbott are driven by this need to look for new approaches. When taken as a whole, these innovations should greatly improve patient outcomes, simplify processes, and increase market accessibility. Due to advancements in technology and healthcare spending, growth in the market for neuro-vessel devices is anticipated to escalate quickly over the next couple of years.

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Convergence of Innovative Technologies and Market Dynamics

In conclusion, the growing incidence of neurological disorders, the growing need for minimally invasive procedures, and technological improvements are all expected to propel the global market for neurovascular devices towards substantial growth. Some of the biggest companies in the world today, like Boston Scientific, Medtronic, Stryker and Johnson & Johnson are taking the lead in making strides that would enhance the precision of procedures and the results obtained after treating patients. The blend of telemedicine being endorsed by the established players partnering with emerging neurovascular start-ups signifies an epoch-making shift in this field of healthcare delivery. Over the next ten years, neurovascular devices should have a dynamic and significant future if healthcare investments keep rising.

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