Interventional Neurology Market

Global Interventional Neurology Market Size (2024 to 2029)

The global interventional neurology market size is estimated to be worth USD 4411.3 million by 2029 from USD 2885.5 million in 2024, growing at a CAGR of 8.86% during the forecast period.

MARKET DRIVERS

The growing patient population suffering from neurological diseases is one of the key factors propelling the growth of the interventional neurology market.

The rapid adoption of technological developments in treatment procedures, favorable reimbursement policies, and increasing healthcare infrastructure across developing countries drive the global interventional neurology market. The growing patient population suffering from the target diseases, ongoing product development and commercialization and growing consumer demand for successful neurovascular devices propel the interventional neurology market growth. For instance, Alzheimer's disease accounts for almost a quarter of the 1.2 million brain disorders. In addition, the increasing awareness around stroke care is anticipated to increase demand for these devices. 

An increasing number of companies in the field of neurovascular therapies and growing awareness among neurosurgeons regarding minimally invasive surgical procedures contribute to the growth rate of the interventional neurology market. The growing emphasis of the market participants on R&D leading to new product launches and enhancements, lower product costs due to the strengthening of distribution networks and localized manufacturing, the rapid rise in the geriatric population and high-stress levels in young people fuel the interventional neurology market growth.

The growing demand for minimally invasive neurosurgical procedures and an increasing number of R&D activities in neurovascular therapies are expected to provide growth opportunities for market participants in the interventional neurology market. According to the Indian Brand Equity Foundation, the government spent USD 1.14 billion in 2018 to treat and raise awareness of CNS disorders due to increased cases. Besides, overall government spending on mental health care accounts for 2.4% of total government health spending in the United States. On the other hand, The government's median allocation of funds in psychiatric hospitals accounts for 80% of total government health spending.

MARKET RESTRAINTS

The high cost of interventional neurology procedures and devices is primarily hindering the growth of the global market.

Limited availability of skilled interventional neurologists and stringent regulatory requirements and lengthy approval processes for new devices and techniques primarily hamper the growth of the interventional neurology market. Limited reimbursement coverage for certain interventional neurology procedures, lack of awareness and understanding among patients and healthcare professionals about interventional neurology treatments and challenges in accessing and navigating complex neurovascular anatomy hinder the market growth. Risks and complications associated with interventional neurology procedures, limited research and clinical evidence supporting the efficacy and safety of certain interventional neurology techniques, and the competition from alternative treatment options, such as pharmaceutical therapies or traditional surgical approaches, further impede the market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Interventional Neurology Market Analysis By Technology

The embolization and coiling segment is predicted to account for the largest share of the global interventional neurology market during the forecast period. The effectiveness of embolization and coiling in treating cerebral aneurysms and reducing the risk of rupture primarily drive the growth of the embolization and coiling segment in the global market. The growing incidence of aneurysms, advancements in coiling techniques, the minimally invasive nature of the procedure, the growing demand for minimally invasive treatments, improved patient outcomes, and technological advancements in embolization and coiling devices further support segmental growth.

The neuro-thrombectomy segment is expected to witness a healthy CAGR during the forecast period. The growing incidence of ischemic stroke, the rising awareness about the effectiveness of neuro-thrombectomy in improving patient outcomes and the rising number of advancements in devices used for clot retrieval primarily drive the growth of the neuro-thrombectomy segment. The benefits of timely clot removal, reduced disability rates and improved long-term prognosis contribute to the segmental growth in the global interventional neurology market. Ongoing research and development efforts to enhance the safety and efficacy of neuro-thrombectomy procedures further support segmental growth.

Global Interventional Neurology Market Analysis By Product

The carotid stents segment is projected to hold the major share of the global interventional neurology market during the forecast period. Carotid stenting offers an alternative treatment option to surgical interventions and provides benefits such as reduced risks, shorter recovery time, and improved patient outcomes. The growing prevalence of carotid artery diseases, rapid adoption of minimally invasive procedures and increasing number of advancements in stent technology primarily drive the growth of the carotid stents segment.

The clot retrieval segment is estimated to register a healthy CAGR in the global market during the forecast period. Clot retrieval procedures aim to restore blood flow to the affected area of the brain and minimize long-term neurological damage. The effectiveness of clot retrieval in improving patient outcomes has led to its increasing adoption in stroke management protocols. The growing incidence of stroke, rising awareness about the importance of timely treatment and technological advancements in clot retrieval devices majorly fuel the growth rate of the clot retrieval segment.

Global Interventional Neurology Market Analysis By End User

The hospital segment is expected to account for the leading share of the interventional neurology market throughout the forecast period. Factors such as increasing patient admissions for neurological conditions, advancements in medical infrastructure and the availability of skilled healthcare professionals drive the growth of the hospital segment in the global market.

The ambulatory centers segment is predicted to witness a healthy CAGR during the forecast period. The growing preference for outpatient care, shorter procedure times, reduced healthcare costs, and advancements in medical technology that allow certain interventional neurology procedures to be performed in an ambulatory setting drive the growth of the ambulatory center's segment in the global market.

REGIONAL ANALYSIS

North America held the major share of the global market in 2022 and the domination of the North American region in the global market is likely to continue throughout the forecast period. The presence of advanced healthcare infrastructure, rapid adoption of technological advancements, high healthcare expenditure, and the availability of a well-established healthcare system that supports the adoption of interventional neurology procedures in North America primarily drive the growth of the interventional neurology market in the North American region. Factors such as a high prevalence of neurological disorders, an increasing geriatric population, favorable reimbursement policies and continuous advancements in interventional neurology technologies boost the growth rate of the North American market. The U.S. led the interventional neurology market in the North American region, followed by Canada in 2022. The domination of the U.S. in the North American region is estimated to continue during the forecast period owing to the presence of key market players and research institutions.

Europe was the second largest regional market worldwide and is expected to grow at a prominent CAGR during the forecast period owing to the well-developed healthcare system and a strong focus on research and innovation. The growing prevalence of neurological disorders, rising awareness about advanced treatment options, increasing number of initiatives from the European governments to improve neurological care and the presence of leading medical device manufacturers in Europe further fuel the growth rate of the European market. Favorable reimbursement policies and an increasing number of collaborations between academic institutions and industry players further propel the growth of the interventional neurology market in Europe.

Asia-Pacific is projected to be the fastest-growing regional market worldwide during the forecast period. Large population base, increasing healthcare infrastructure, a rising prevalence of neurovascular diseases, an increasing number of improvements in healthcare access, growing healthcare expenditure and rising awareness about interventional neurology procedures drive the interventional neurology market growth in the Asia-Pacific region. The growing number of advancements in medical technology, increasing investments in healthcare infrastructure, and the presence of a large patient pool contribute to the growth of the APAC market. China led the market in the Asia-Pacific region in 2022.

Latin America is likely to project a steady CAGR during the forecast period. The growing patient population suffering from neurovascular diseases, increasing healthcare expenditure and the growing number of initiatives from the governments of Latin America to improve healthcare access and quality drive the growth of the interventional neurology market in Latin America.

MEA is predicted to register a moderate CAGR in the coming years.

KEY PLAYERS IN THE GLOBAL INTERVENTIONAL NEUROLOGY MARKET

Companies leading the global interventional neurology market profiled in the report are Stryker Corporation, Medtronic plc, Johnson & Johnson, Terumo Corporation, Penumbra Inc., Abbott Laboratories, Merit Medical Systems Inc., W. L. Gore & Associates Inc., Microport Scientific Corporation, and Medikit Co., Ltd.

DETAILED SEGMENTATION OF THE GLOBAL INTERVENTIONAL NEUROLOGY MARKET INCLUDED IN THIS REPORT

This market research report on the global interventional neurology market has been segmented and sub-segmented based on technology, product, end-user, and region.

By Technology

• Embolization and Coiling
• Balloon Angioplasty
• Carotid Stenting
• Neuro-thrombectomy
• Micro Support Devices

By Product

• Carotid Stent
• Microcatheter
• Flow Diversion
• Micro-guidewires
• Suction Device
• Stenting Systems
• Clot Retrieval

By End User

• Hospitals
• Ambulatory Centers
• Neurology Clinics

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa