Global Neurothrombectomy Devices Market Insights Forecasts to 2033

• The Global Neurothrombectomy Devices Market Size was Valued at USD 0.65 Billion in 2023
• The Market Size is Growing at a CAGR of 6.76% from 2023 to 2033
• The Worldwide Neurothrombectomy Devices Market Size is Expected to Reach USD 1.25 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Neurothrombectomy Devices Market Size is Anticipated to Exceed USD 1.25 Billion by 2033, Growing at a CAGR of 6.76% from 2023 to 2033.

Market Overview

A neurothrombectomy device is intended to retrieve or destroy blood clots in the cerebral neurovasculature by mechanical (i.e., snare or suction), laser, ultrasound technologies, or combination of technologies. It offers many potential advantages over pharmacologic thrombolysis, including more rapid achievement of recanalization, enhanced efficacy in treating large-vessel occlusions, and potentially lower risk for hemorrhagic events. Neurothrombectomy devices are categorized into five broad classes, including clot retrievers, aspiration/suction devices, snare-like devices, ultrasonography technologies, and lasers. There are various classes and devices identified as potentially useful for thrombus removal in the neurovasculature. Under Paul Coverdell's National Acute Stroke program launched in 2005, the Centers for Disease Control and Prevention (CDC) encourage and provide funding to state health departments for the improvement of quality of care for patients suffering from acute stroke disease. Since the program’s inception, almost one million stroke patients have been treated in over 700 hospitals across the US. Thus, it is expected that the aforementioned factors will accelerate that market expansion.

Report Coverage

This research report categorizes the market for the global neurothrombectomy devices market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global neurothrombectomy devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global neurothrombectomy devices market.

Driving Factors

According to the World Stroke Organization (WSO) in 2022, there is about more than 62% of all stroke incidents are ischemic strokes. Approximately 3.3 million people die due to ischemic stroke annually. The increased cases of stroke increase the demand for stroke treatment which ultimately leads to propelling market demand. Hypertension, cigarette smoking, and diabetes are recognized as primary risk factors for stroke. An unhealthy diet containing trans fats, cholesterol, and saturated fats may lead to stroke. Further, unhealthy diet, physical inactivity, increased stress in work or life, and excessive consumption of alcohol & tobacco. These factors are responsible for propelling the market growth for neurothrombectomy devices. Furthermore, the introduction of technologically advanced products and rapid product approval for new and innovative devices significantly contributed to driving the global neurothrombectomy devices market.

Restraining Factors

The high cost of neurothrombectomy devices for the treatment of acute ischaemic stroke hinders the global neurothrombectomy devices market.

Market Segmentation

The global neurothrombectomy devices market share is classified into device type and end-use.

• The clot retrievers segment dominated the market with the largest revenue share in 2023.

Based on the device type, the global neurothrombectomy devices market is categorized into aspiration and clot retrievers. Among these, the clot retrievers segment dominated the market with the largest revenue share in 2023. Clot retrievers are used for removing blood clots from the cerebral arteries. The growing prevalence of acute ischaemic stroke with the increased geriatric population is propelling the market in the clot-retriever segment.

• The hospitals segment accounted for the largest revenue share of the global retinoblastoma market in 2023.

Based on the end-use, the global neurothrombectomy devices market is categorized into hospitals, specialty clinics, and others. Among these, the hospitals segment accounted for the largest revenue share of the global retinoblastoma market in 2023. Owing to the availability of advanced types of equipment and improved healthcare facilities in the hospitals with the growing incidences of acute ischemic diseases, there is increasing market growth in the hospitals segment. 

Regional Segment Analysis of the Global Neurothrombectomy Devices Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is anticipated to hold the largest share of the global neurothrombectomy devices market over the predicted timeframe.

Europe is projected to hold the largest share of the global neurothrombectomy devices market over the forecast period. The increasing prevalence of ischaemic stroke in the region is driving the market for neurothrombectomy devices. The presence of advanced innovative technologies and healthcare infrastructure in the region is significantly contributing to the market growth. Further, the increasing approvals and the launch of new and innovative products are anticipated to propel the market growth.   

North America is expected to grow at the fastest CAGR growth of the global neurothrombectomy devices market during the forecast period. The presence of well-established key market players and the involvement of the government in the development of innovative medical devices are driving the market. Further, the increasing awareness about advanced devices is also responsible for enhancing the market growth in the region.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global neurothrombectomy devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Medtronic
• Penumbra, Inc.
• Phenox GmbH
• Acandis GmbH
• Stryker
• Vesalio
• Boston Scientific Corporation
• MicroVention Inc.
• Abbott
• Johnson & Johnson Private Limited
• Terumo Corporation
• Teleflex Incorporated
• Edwards Lifesciences Corporation
• Koninklijke Philips N.V.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2021, Penumbra, Inc. PEN recently received FDA clearance for the RED 62 Reperfusion Catheter. RED 62 is the latest addition to the company’s comprehensive Penumbra System, which enables physicians to perform mechanical thrombectomy in acute ischemic stroke patients with intracranial large vessel occlusions.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global neurothrombectomy devices market based on the below-mentioned segments: 

Global Neurothrombectomy Devices Market, By Device Type

• Aspiration
• Clot Retrievers

Global Neurothrombectomy Devices Market, By End-User

• Hospitals
• Specialty Clinics
• Others

Global Neurothrombectomy Devices Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa