North America Neurovascular Devices/Interventional Neurology Market Research Report – Segmented By Technology, Product, End-users and Country (the United States, Canada and Rest of North America) - Industry Size, Share, Growth, Trends and Forecast (2024 to 2029)

Updated On: January, 2024
ID: 1629
Pages: 132

North America Interventional Neurology Market Size (2022 to 2027)

The size of the Interventional Neurology Market in North America was worth USD 940.26 Million in 2022 and is estimated to reach USD 1413.83 million by the end of 2027, with a growing potential of 8.50%. North America is expected to account for the highest share in the market. It is due to the significant adoption of neurovascular devices among neurosurgeons, the presence of key manufacturers in the region, and increasing R & D investments are driving the growth of the North American interventional neurology market.

The rising patient population with neuro-related problems like Alzheimer's disease, cerebrovascular diseases that include stroke, migraine and other headache disorders and others are expected to fuel the growth of the North America Interventional neurology market. Growing aging population are vulnerable to mental disorders and is expected to provide a boost to the market growth in the North America. Favourable medical reimbursements, continuous product developments, and rising ordinary occurrence rates of chronic neurological illness and nerve disorders like epilepsy and dementia are further estimated to drive the market to grow. According to Brain Aneurysm Foundation, around 6 million in the United States are suffering with unruptured brain aneurysm.

Lack of skilled neurosurgeons and strict rules for the regulatory bodies to approve new technologies are impeding the market growth. Moreover, the high costs related associated with neurology devices are an obstructing factor.

This market research report on the North America Neurovascular Devices/Interventional Neurology Market has been segmented and sub-segmented into the following categories.

  • By Technology: Embolization and Coiling, Balloon Angioplasty, Carotid Stenting, Neurothrombectomy, and Micro Support Devices
  • By Product: Carotid Stent, Microcatheter, Flow Diversion, Microguidewires, Suction Device, Stenting Systems, and Clot Retrieval
  • By End User: Hospitals, Ambulatory Centers and Neurology Clinics
  • By Country: The United States, Canada, and Rest of North America

Regional Analysis:

According to the American Neurological Association's 2020 report, 5.9 million patients with Alzheimer's disease and 2.3 million other dementia patients in the United States. Many global players have been drawn to this region due to the demand for minimally invasive technologies and the increasing prevalence of neurological disorders. The increased demand for medical services and healthcare facilities in North America is estimated to significantly impact the North American market's growth for interventional neurology devices in the region between 2020 and 2025. Moreover, the increased population spending in countries like the United States and Canada drives this industry's growth. Per capita purchasing power parity (PPP) health expenditure in the United States has increased significantly from USD 9,397.43 in 2018 to USD 10,839.74 in 2020. According to the World Health Organization, it rose from USD 5,729.86 in 2018 to USD 6,712.71 in Canada in 2020. According to estimates from the Centers for Disease Control and Prevention, spending on personal health care in the United States would increase by a 5.7% annual percentage change between 2010-2020, with a total expenditure of USD 2.703 billion in 2010 3.857 billion USD in 2020. It can be attributed to the high demand for new medical and healthcare technologies in North America.

Key players in North America Neurovascular Devices/Interventional Neurology Market are Stryker Corporation, Medtronic plc, Penumbra Inc., Johnson & Johnson, Terumo Corporation, Abbott Laboratories, W. L. Gore & Associates Inc., Merit Medical Systems Inc., Microport Scientific Corporation, and Medikit Co., Ltd.

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