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The rise of the neurovascular devices market

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According to a new report, the neurovascular device market size is expected to rise to £3.4 billion by 2028.

Devices such as coils, clips and stents used in modern life saving procedures for stroke such as thrombectomy, which recent research has shown is a safe procedure to be also used in narrower vessels, is helping this market to grow.

The increase in commonality of minimally invasive procedures and breakthrough non-invasive treatments like spinal cord stimulation devices are all playing a part in helping to boost this market according to the report by KBV Research titled “Global Neurovascular Devices Market Size, Share & Industry Trends Analysis Report By End User, By Technology, By Disease Pathology, By Regional Outlook and Forecast, 2022 – 2028”.

Set backs

As to be expected, the covid-19 pandemic caused the neurovascular market to suffer due to the limited accessibility of medical care for disorders other than covid-19 globally. 

The scarce availability of medical professionals around the globe has also caused a detrimental impact on the market.

Market Growth

The market demand for minimally invasive techniques is forever growing due to the benefits they hold over traditional surgical procedures, including shorter hospital stays, meaning more beds are freed up and less of a demand for the building of new hospitals.

With elderly patients more susceptible to neurological and neurovascular disorders. They choose treatment methods that offer a simple diagnosis and the shortest hospital stay possible, it is these factors that are expected to support the expansion of the neurovascular devices market in the future.

Stroke prevalence

Strokes are one of the biggest causes of disability and mortality worldwide, with an estimated 100,000 individuals in the UK have strokes each year. The rate of strokes globally is at an all time high and stroke also continues to add significant contribution to the annual death toll globally.

Due to this, there is a sizeable patient base to be treated. Throughout the forecast period, it is estimated that a growing patient base along with rising patient awareness regarding the “availability of treatment and reimbursement for neurological disorders” will further speed up the growth of the neurovascular devices market.

Read the full details of the report here.

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