Global Neurovascular Devices Market Size, Share, Growth Factors, Competitive Landscape, with Regional Forecast to 2035

Neurovascular disorders are recognized among one of the deadliest diseases, accounting for an alarming global toll of approximately 15 million new cases annually. At present, several conventional methods, such as open neurosurgery, microsurgery and bypass surgery are available for treating such conditions. However, these approaches often impose several complications such as disruption of normal vasculature and high chances of disease recurrence, owing to their highly invasive treatment approach. In order to address this, neurovascular devices emerged as a possible regime, which utilizes minimally invasive and more site-specific techniques. The concept of neurovascular devices holds significant potential in treating neurovascular disorders by shifting away from a highly invasive and complicated approaches.
The global neurovascular devices market size is projected to grow from $3,325 million in 2024 to $7,011 million by 2035, representing a CAGR of 7.02%, during the forecast period, till 2035.
The neurovascular devices have attracted significant attention, owing to their higher success rate in improving life expectancy and patient care outcomes. Neurovascular devices encompasses intracranial stents, embolic clippings, aspiration devices, balloon catheters and accessory devices. It is worth highlighting that neurovascular devices have been considered as the next generation of treatment for neurovascular disorders, owing to their minimal side effects, faster recovery, high success rates and positive patient outcomes. With Continuous research efforts and innovation in this field and rising interest of investors in this domain, the neurovascular devices market is anticipated to experience significant market growth over the forecasted period.
GLOBAL NEUROVASCULAR DEVICES - MARKET LANDSCAPE
The neurovascular devices landscape has transformed significantly since the introduction of microsurgical techniques for cerebral aneurysms, in the late 1960’s. Ever since then, with the application of microsurgical neurovascular devices, the life-expectancy of patients with neurovascular disorders has raised remarkably. During our research, we identified over 50 device developers engaged in the global neurovascular devices market.
Majority (49%) of the developers were established during the period post-2010. Moreover, there has been an increase in the number of developers entering the neurovascular devices domain over the past decades, reflecting a stable and enticing industry for the new entrants. Examples of developers established post-2020 include (in reverse chronological order, established post-2017) Artiria Medical (2019), Perfuze (2018), HeMo Bioengineering (2018), Ceretrieve (2018) and Vesalio (2018).
It is worth highlighting that more than 305 neurovascular devices have either received regulatory approval or are currently being commercialized for patients diagnosed with different types of neurovascular disorders. In fact, 10% of the neurovascular devices are currently being evaluated in clinical trials to assess the safety and effectiveness of these devices in neurovascular disorders.
Over 29% of the devices are utilized for the treatment of cerebral aneurysms, followed by devices used to treat ischemic strokes (24%). This can be attributed to fact that cerebral aneurysms and ischemic stroke have the highest global incidence rate. Further, close to 15% of the neurovascular devices are available for the treatment of arteriovenous fistulae. Notable examples of devices used to treat cerebral aneurysms include (in alphabetical order, aneurysm stents / implants) ACCERO heal Stent (Acandis), ACCERO Rex Stent (Acandis), ACCERO Stent (Acandis), ACCLINO heal Stent (Acandis), ACCLINO flex plus Stent (Acandis), pCONUS 1 Bifurcation Aneurysm Implant (Phenox) and pCONUS 2 Bifurcation Aneurysm Implant (Phenox).
Funding and investment analysis – Evaluating the overall potential of global neurovascular devices market.
During our research, we came across several funding and investment instances that have been inked between different stakeholders engaged in the global neurovascular devices market. It is worth mentioning that the number of funding instances in this domain has increased over time investing around USD14.5 billion, since 2019.
As is evident from the figure, the maximum number (36%) of funding instances focused on neurovascular devices were reported in 2021, attributing to the adverse effects of COVID-19 virus on various neurovascular diseases. Foreseeing the future potential of neurovascular devices, several investors have actively participated in various funding rounds, which is likely to help propel the growth of this industry. Examples of the companies that have raised funding in the year 2023 include (in reverse chronological order) BCV (December 2023), Route 92 Medical (November 2023), Inspire MD (May 2023) and Skynor Medical (January 2023).
The companies engaged in the domain of neurovascular devices have raised a significant capital through venture capital rounds (55%). Example of firms that raised funding through venture (series A) include (in reverse chronological order, post-2021) Artiria Medical (February 2024), BCV (December 2023), Artio Medical (June 2022) and Perfuze (February 2022). Further, a significant amount, worth more than USD 300 million has been secured through other equities round.
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