Neurovascular Embolization Market - By Product (Embolic Coils, Flow Diversion Devices, Liquid Embolic Agents, Aneurysm Clips, Intrasaccular Flow Disruptors), Procedure (Aneurysm Coiling & Embolization, AVM Embolization), End-use – Global Forecast, 2023-2032

Neurovascular Embolization Market - By Product (Embolic Coils, Flow Diversion Devices, Liquid Embolic Agents, Aneurysm Clips, Intrasaccular Flow Disruptors), Procedure (Aneurysm Coiling & Embolization, AVM Embolization), End-use – Global Forecast, 2023-2032

Neurovascular Embolization Market Size

Neurovascular Embolization Market size was valued at USD 1.4 billion in 2022 and is estimated to account for USD 2.5 billion by 2032. Neurovascular embolization is a minimally invasive procedure that uses embolic agents delivered through a catheter to treat aneurysms, arteriovenous malformations, and tumors in brain and spinal cord by blocking or reducing blood flow to the affected area.
 

According to the Brain Aneurysms Foundation, in the U.S., roughly 6.7 million people have unruptured brain aneurysms, leading to an annual rupture rate of 8-10 cases per 100,000. Therefore, the rising prevalence of neurovascular diseases highlights the significance of neurovascular embolization as a crucial treatment, making it a key driver for the market progress.
 

Furthermore, research efforts dedicated to understanding neurovascular diseases and improving treatment techniques have led to the development of novel therapies. This includes new embolic agents, better imaging modalities, and alternative approaches, expanding the range of options available for physicians. Therefore, research initiatives stimulate market growth by providing new and better solutions.
 

COVID-19 Impact

The COVID-19 pandemic had a negative impact on the neurovascular embolization market with procedure delays and resource shifts. Nevertheless, it heightened medical awareness, boosted funding, and expedited telemedicine adoption. Additionally, there was a rise in incidence of ruptured blister aneurysms during the pandemic which were addressed to in later stages of pandemic. Despite healthcare disruptions, the pandemic ultimately created opportunities for progress in the neurovascular devices sector, estimated to reach 7.5 billion by 2032, contingent on ongoing research and healthcare policy developments.
 

Neurovascular Embolization Market Trends

Ongoing technological innovations in neurovascular embolization devices have enhanced treatment outcomes and patient safety. New materials, improved imaging techniques, and the development of more precise, minimally invasive devices have made the procedure more effective and accessible. For instance, in July 2023, MicroVention, Inc., released 5-year monitoring data for their intrasaccular device, WEB, and established two new sizes (SL 7x2 and SL 6x2) for aneurysm embolization technology, broadening its applicability to various aneurysm types and sizes. Such advancements attract healthcare providers and patients to opt for neurovascular embolization.

• Furthermore, as awareness of the effectiveness and benefits of neurovascular embolization procedures rises among healthcare professionals and the public, there will be a growing demand for these treatments.
   
• Additionally, improved knowledge about the availability and success of such procedures drives more patients to seek intervention for neurovascular conditions.
   

Neurovascular Embolization Market Analysis

The market by product is categorized into embolic coils, flow diversion devices, liquid embolic agents/systems, aneurysm clips and intrasaccular flow disruptors. The embolic coils segment garnered USD 907 million revenue size in the year 2022.

• The dominance of the embolic coils segment is attributed to its proven clinical efficacy, minimally invasive nature, versatility, and ongoing technological advancements. These coils effectively treat cerebral aneurysms and other neurovascular conditions, instilling confidence among healthcare professionals and patients.
   
• Additionally, high patient satisfaction, growing awareness, and education in the field have solidified their position as the preferred choice for effective and safe treatment.
   

Based on procedure, the neurovascular embolization market is segmented into aneurysm coiling and embolization, arteriovenous malformation (AVM) embolization, and other procedures. The aneurysm coiling and embolization segment dominated the market and accounted for over 59% business share in the year 2022.
 

• High segment growth is attributed to the rising prevalence of intracranial aneurysms and the effectiveness of these minimally invasive procedures in treating them.
   
• Furthermore, the high success rate, shorter recovery time, patient and provider preference, ongoing technological advances, an aging population base at higher risk, increased awareness, and substantial R&D investments continue to drive the dominance of aneurysm coiling and embolization in the market.
   

The neurovascular embolization market by end-use is categorized into hospitals, specialty clinics, and other end-users. The hospitals garnered USD 894 million revenue size in the year 2022.
 

• The dominance of the segment is attributed due to their specialized care capabilities, advanced imaging resources, emergency support, and multidisciplinary teams.
   
• Furthermore, their access to critical care units, comprehensive resources, insurance partnerships, and roles in research and education make them the preferred choice for neurovascular interventions, establishing their market supremacy.
   

The U.S. neurovascular embolization market accounted for USD 503 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.
 

• The U.S. has taken a commanding position in the market, primarily due to its advanced healthcare infrastructure, coupled with a high prevalence of neurovascular conditions, positions it as a hub for cutting-edge embolization procedures.
   
• Additionally, the strong regulatory framework provided by institutions such as the FDA instills confidence in both patients and healthcare providers, firmly establishing the U.S. as the market leader.
   

Neurovascular Embolization Market Share

The neurovascular embolization industry is consolidated, with key players such as Medtronic, Stryker, Cerenovus (Johnson & Johnson), and others dominating the market. These companies focus on ongoing product innovation, geographical expansion, and partnerships to secure substantial market shares. For instance, Medtronic's pipeline flex embolization device with shield technology has received FDA approval. This technology is a notable advancement in flow diversion therapy, reducing the risk of clot formation on the device's surface and improving treatment safety and efficacy.
 

Some of the eminent market participants operating in the neurovascular embolization industry include

• Medtronic
• Stryker
• Cerenovus (Johnson & Johnson)
• Integra LifeSciences
• Penumbra Inc
• Balt SAS
• B. Braun Melsungen AG
• Phenox GmbH
• MicroVention Inc (Terumo Corporation)
• Shape Memory Medical Inc
• Peter Lazic GmbH
• Spartan Micro
   

Neurovascular Embolization Industry News

• In December 2022, Stryker inaugurated a new research and development center in India. The primary goal of this facility was to expedite the development of cutting-edge neurovascular devices designed for treatment of strokes. The inauguration enabled Stryker to enhance its R&D capabilities, access a skilled workforce, expand its global reach, and gain valuable insights into the local market.
   
• In January 2021, Penumbra, Inc. (USA) and Genesis Medtech (Australia) partnered to enhance Penumbra's market presence in China by introducing and manufacturing innovative neurovascular products within the Chinese market. Such collaborations are anticipated to augment industry expansion.
   

Neurovascular embolization market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Units from 2018 to 2032 for the following segments

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By Product, 2018 – 2032 (USD Million and Units)

• Embolic coils
• Flow diversion devices
• Liquid embolic agents/systems
• Aneurysm clips
• Intrasaccular flow disruptors

By Procedure, 2018 – 2032 (USD Million)

• Aneurysm coiling and embolization
• Arteriovenous malformation (AVM) embolization
• Other procedures

By End-use, 2018 – 2032 (USD Million)

• Hospitals
• Specialty clinics
• Other end-users

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa