Neuroendovascular Non-coils Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Japan, China - Size and Forecast 2024-2028

Neuroendovascular Non-coils Market 2024-2028

The Neuroendovascular Non-coils Market size is estimated to grow by USD 329.15 million at a CAGR of 4.29% between 2023 and 2028. 

Neuroendovascular non-coil treatment is classified as a minimally invasive procedure. Minimally invasive treatments can be referred to as medical interventions that use small incisions or natural body openings to access and treat internal conditions, minimizing damage to surrounding tissues and reducing the recovery time of the patient. Therefore,  the minimally invasive nature of neuroendovascular non-coil devices enables shorter hospital stays compared with open surgical treatments which is positively impacting the market.

Technavio has segmented the market into  Product Type, End-user, and Geography

• The product type segment is classified into neuroendovascular stents, access devices, flow diversion devices, and others
• The end-user segment is classified into hospitals, ambulatory surgical centers (ASCS), stroke centers, and others
• The geography segment includes key regions such as North America, Europe, Asia, and the Rest of the World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.

What will be the Size of the Neuroendovascular Non-coils Market During the Forecast Period?

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Neuroendovascular Non-coils Market Segmentation by Product Type, End-user and Geography Analysis

Product Type Analysis 

Neuroendovascular stents

The neuroendovascular stents segment is estimated to witness significant growth during the forecast period. Neuroendovascular stents segment can be referred to as medical devices used in neuroendovascular procedures to treat cerebrovascular diseases such as aneurysms and stenosis. In addition,  advancements in stent technology have led to improved device design and biocompatibility, improving their safety and efficacy. Furthermore, improved stent materials, such as newer alloys and bioresearchable polymers, have contributed to better outcomes and reduced complications.

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The neuroendovascular stents segment was the largest segment and was valued at USD 516.21 million in 2018. Moreover, these advancements have instilled confidence among healthcare professionals, driving the adoption of neuroendovascular stents. In addition, the rising prevalence of cerebrovascular diseases worldwide has increased the demand for treatment options such as neuroendovascular stents. Furthermore, factors such as sedentary lifestyles, high blood pressure, smoking, and the aging population contribute to the increasing incidence of conditions such as cerebral aneurysms and carotid artery stenosis. In addition, this segment offers a minimally invasive approach to treating these conditions, leading to faster recovery times and reduced risks compared with traditional surgical interventions. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

End-user Analysis 

Hospitals

Hospitals are the main end-users that significantly influence the growth of the global neuroendovascular non-coils market. Several multispecialty hospitals perform surgeries, including intracranial aneurysms and other related risks. In addition, this segment comprises large-size multispecialty hospitals and hospital groups that work under government sponsorship and supervision or through funding from private entities. Furthermore, these hospitals work closely with reimbursement authorities and government organizations to obtain discounts for bulk purchases. Moreover, major surgeries are conducted in surgical rooms with special operating equipment. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

Ambulatory surgical centers (ASCs)

Ambulatory surgical centers (ASCs) carry out surgeries in outpatient settings. These facilities provide various advantages to patients, including lower cost of procedures, limited stay in hospitals, and same-day discharge for most procedures.  This segment is growing rapidly due to the presence of advanced operating equipment, specialist surgeons, and operating and recovery rooms. In addition, ASCs ensure the prevention of infections as recommended by the Centers for Medicare and Medicaid Services (CMS). Moreover, ASCs perform sophisticated minimally invasive procedures to treat urological disorders such as aneurysms. Furthermore, many ASCs are a part of GPOs. As a result, this reduces the cost of devices, which helps reduce the cost of surgeries. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

Regional Analysis

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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period.  Factors such as the increasing technological advancements and product launches and the growing funding for start-up companies for the development of innovative advanced medical devices are significantly contributing to the market growth in North America. In addition, the high prevalence of cancer and vascular diseases in the region, coupled with the presence of skilled professionals to conduct embolization procedures, is likely to fuel the growth of the neuroendovascular non-coils market in the region. Furthermore, the increasing prevalence of vascular diseases and the growing adoption of minimally invasive embolization procedures have compelled companies to implement various market strategies, such as product launches, to strengthen their market presence. Hence, such factors drive the market growth in North America during the forecast period.

COVID Recovery Analysis

In 2020, during the COVID-19 pandemic, the growth of the global neuroendovascular non-coils market witnessed a significant slowdown due to the lockdown such that various non-urgent treatments were performed either in a limited capacity or were completely postponed as per guidelines in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the restoration of operations in healthcare units. Such factors are expected to drive the market during the forecast period.

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Key Neuroendovascular Non-coils Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 11 market companies, including:

Cook Group Inc: The company offers neuroendovascular non-coils such as Optima or OptiMAX coil systems intended for use in the peripheral and neurovasculature to endovascularly obstruct or occlude blood flow.

• Johnson and Johnson
• Kaneka Corp.
• Medtronic Plc
• Penumbra Inc.
• Rapid Medical Ltd.
• Shape Memory Medical Inc.
• Stryker Corp.
• Terumo Corp.
• Wallby Medical LLC
• BALT Group

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Neuroendovascular Non-coils Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Neuroendovascular Non-coils Market Drivers

One of the key factors driving the neuroendovascular non-coils market growth is the increasing incidence of intracranial aneurysms. The rising incidence of intracranial aneurysms, also known as cerebral aneurysms or brain aneurysms, is a significant driver for the growth of the global neuroendovascular non-coils market, which is fuelling the demand for effective and advanced treatment options. In addition, neuroendovascular non-coil devices have emerged as a valuable treatment modality, particularly for managing complex and large aneurysms that may be challenging to treat with traditional methods.

Moreover, with a higher number of diagnosed intracranial aneurysms, there is an expanded patient pool seeking treatment options. In addition, neuroendovascular non-coil devices provide a minimally invasive alternative to surgical clipping, making it an attractive treatment option for patients who are eligible for this procedure. Furthermore, as the global population continues to age, the incidence of aneurysms is likely to increase, further fuelling the demand for flow diversion and other treatment options. Hence, such factors drive the market growth during the forecast period.

Significant Neuroendovascular Non-coils Market Trends

A key factor shaping the neuroendovascular non-coils market growth is the growing awareness and education about intracranial aneurysms. The increasing awareness and education about intracranial aneurysms and available treatment options, such as neuroendovascular non-coil devices, play a major role in shaping the global neuroendovascular non-coils market. In addition, increased awareness among both patients and healthcare providers results in higher demand for effective treatments and more informed decision-making.

Moreover, improved awareness of the signs and symptoms of intracranial aneurysms prompts individuals to seek medical attention promptly. In addition, early detection allows for timely diagnosis and intervention, leading to better treatment outcomes and a higher likelihood of successful flow diversion procedures. Furthermore, as patients have become more informed about their condition and treatment options, they are more likely to request advanced and minimally invasive treatment methods such as flow diversion. Hence, such factors are positively impacting the market which in turn drives the market growth during the forecast period.

Major Neuroendovascular Non-coils Market Challenges

Stringent regulations associated with the approval of neuroendovascular non-coil devices are one of the key challenges hindering the neuroendovascular non-coil market growth. Regulatory approvals and stringent regulations are essential factors that influence the availability and adoption of neuroendovascular non-coil devices in different countries, including the US, Australia, and the UK. In addition, the process of obtaining regulatory approvals and ensuring market access can be complex and may vary from one country or region to another.

Moreover, medical devices, such as neuroendovascular non-coil devices, typically need to undergo rigorous regulatory scrutiny and obtain approvals from health authorities before they can be marketed and used for patient care. Furthermore, the regulatory approval process involves demonstrating the safety, efficacy, and quality of the device through preclinical testing and clinical trials. Hence, such factors are negatively impacting the market which in turn hinders the market growth during the forecast period.

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Key Neuroendovascular Non-coils Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Neuroendovascular Non-coils Market Customer Landscape

Segment Overview

The neuroendovascular non-coils market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Product Type Outlook (USD Million, 2018 - 2028)
  • Neuroendovascular stents
  • Access devices
  • Flow diversion devices
  • Others
• End-user Outlook (USD Million, 2018 - 2028)
  • Hospitals
  • Ambulatory surgical centers (ASCs)
  • Stroke centers
  • Others
• Geography Outlook (USD Million, 2018 - 2028)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the World
    • Australia
    • Argentina
    • Brazil
       

Neuroendovascular Non-coils Market Scope
Report Coverage	Details
Page number	167
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 4.29%
Market Growth 2024-2028	USD 329.15 million
Market structure	Concentrated
YoY growth 2023-2024(%)	3.86
Regional analysis	North America, Europe, Asia, and the Rest of the World (ROW)
Performing market contribution	North America at 39%
Key countries	US, Germany, UK, Japan, and China
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Cook Group Inc., Johnson and Johnson, Kaneka Corp., Medtronic Plc, Penumbra Inc., Rapid Medical Ltd., Shape Memory Medical Inc., Stryker Corp., Terumo Corp., Wallby Medical LLC, and BALT Group
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Neuroendovascular Non-coils Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the neuroendovascular non-coils market between 2024 and 2028
• Precise estimation of the neuroendovascular non-coils market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of neuroendovascular non-coils market companies

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