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HEALTHCARE & PHARMACEUTICAL

Neurothrombectomy Devices Market Analysis by Product Type (Clot Retrieval Devices, Aspiration Devices, and Snares); and by End-User (Hospitals, Emergency Clinics, Specialty Clinics, and Ambulatory Surgical Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Penumbra has received the CE Mark for its technologies, Lightning 7 and Lightning 12 which are a part of the Indigo Aspiration System, with mechanical thrombectomy technology.

  • AngioDynamics announced that AlphaVac., a mechanical thrombectomy system, has been approved by the US FDA under section 510(k).

Global Neurothrombectomy Devices Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~ USD 667 Million

Forecast Year Market Size (2033)

~ USD 1312 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global neurothrombectomy devices market is estimated to garner a revenue of ~USD 1312 million by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 667 million in the year 2022. The growth of the market can be attributed to the growing concern about the rising incidences of strokes, where neurothrombectomy devices are required when a clot occurs in one of the blood vessels that supply oxygen and nutrients to the brain, causing a condition of stroke. According to the statistics, in United States, 1 in 6 deaths in 2020 that occurred from cardiovascular disease was owing to stroke.

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In the treatment of ischemic stroke which mostly affects older people, neurothrombectomy devices are essential. The neurothrombectomy method is the most preferred treatment for acute ischemic stroke because it enhances functional results and reduces patient mortality.

Global Neurothrombectomy Devices Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Per Capita Medical Expenditure – with advanced healthcare facilities and better diagnostics development. People are spending more money on healthcare than ever to keep themselves disease-free which in turn is expected to escalate the neurothrombectomy devices market in the upcoming years. According to the OECD, Health expenditure and financing (per capita, current prices) in the United States increased from USD 11859 in 2020 to USD 12318 in 2021.

  • Stroke Endangering Public Healthaccording to research with over 5 million fatalities each year, stroke is the second most common cause of death in the world.

  • Increasing Government Spending on Healthcareas per figures, United States government spending on healthcare increased by nearly 35% in 2020, a major increase from the 6% growth in 2019.

  • Rising Cases of Ischemic Stroke - according to research, over 3.3 million people died of ischemic stroke in 2020. Ischemic stroke accounts for more than 80% of stroke cases.

  • Increased Risk of Diseases Due To COVID-19 people with COVID-19 have a higher risk of incident cardiovascular disease in general, including cerebrovascular disorders, dysrhythmias, ischemic, and thromboembolic disease, after the first 30 days after infection.

Challenges

  • Long Process and Wait for Approval for Neurotechnologies – as the process depends on the pathway chosen for regulatory approval. The evidentiary standard for different regulatory pathways is a time taking procedure.

  • Research and Testing Delays

  • High Competition Among Major Market Players

The global neurothrombectomy devices market is segmented and analyzed for demand and supply by end-user into hospitals, emergency clinics, specialty clinics, and ambulatory surgical centers. Out of these segments, hospitals hold the biggest market share by 2033, backed by the rising number of hospitals as they receive the highest patient traffic every day. For instance, in 2020, there were approximately 6100 hospitals in the United States.

Global Neurothrombectomy Devices Market Regional Synopsis

The North America neurothrombectomy devices market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the high spending on healthcare as well as the employment of a variety of neurothrombectomy devices in mechanisms including clot retrievers, snare-like devices, aspiration/suction devices, ultrasonography technologies, and lasers. It was found that the health spending per person was a little less than ~USD 12,000 in 2020 in United States.

Neurothrombectomy-Devices-Market-Scope

Market Segmentation

Our in-depth analysis of the global neurothrombectomy devices market includes the following segments:

       By Product Type

  • Clot Retrieval Devices
  • Aspiration Devices
  • Snares

       By End-User

  • Hospitals
  • Emergency Clinics
  • Specialty Clinics
  • Ambulatory Surgical Centers

Top Featured Companies Dominating the Global Neurothrombectomy Devices Market

  • Penumbra, Inc.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • AngioDynamics, Inc.
  • Edwards Lifesciences Corporation
  • Medtronic
  • Johnson & Johnson Services, Inc.
  • Stryker Corporation
  • Acandis GmbH
  • Abbott
  • Boston Scientific Corporation

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