Interventional Neuroradiology Market Size Report Analysis 2027

Interventional Neuroradiology Market to 2027- Global Analysis and Forecasts by Product (Neurovascular Embolization & Coiling Assist Devices, Accessories); Disease (Cerebral Aneurysms, Intra-Cranial Tumors, Acute Strokes, Intra-Cranial Tumors, Others); End User (Hospitals, Ambulatory Surgical Centers, Other End Users) and Geography

  • Report Code : TIPRE00003497
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 186
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[Research Report] The interventional neuroradiology market was valued at US$ 1,969.39 million in 2018 and it is projected to reach US$ 3,254.55 million in 2027; it is expected to grow at a CAGR of 5.9% from 2018 to 2027.

Interventional neuroradiology is a medical sub-specialty that utilizes minimally-invasive image based technologies and procedures for the diagnosis and treatment of various diseases of head, neck and spine. The interventional neuroradiology therapies are accomplished majorly with the help of microcatheters inserted in the groin area and, under X-ray guidance, threaded through the blood vessels leading into the brain. The growth of the global interventional neuroradiology market is attributed to the progressive aging population, increasing demand for minimally invasive procedures and rise in the prevalence of the cerebral aneurysm. However, high cost of embolization coils and dearth of skilled professionals are the major factor hindering the market growth.

The global interventional neuroradiology market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Lucrative Regions for Global Interventional Neuroradiology Market



Lucrative Regions for Global Interventional Neuroradiology Market
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Insights

Rise in the Prevalence of the Cerebral Aneurysm to Drive Global Interventional Neuroradiology Market Growth

Neurological diseases are the disorders of the brain, spine and the nerves that connect them. There are more than 600 diseases of the nervous system, such as brain tumors, epilepsy, Parkinson's disease and stroke as well as less familiar ones such as front temporal dementia. During recent years, the prevalence of neurological disorders have increased significantly.

A cerebral aneurysm (also called an intracranial aneurysm or brain aneurysm) is a bulging, weakened area in the wall of an artery in the brain, resulting in an abnormal widening, ballooning, or bleb. Because there is a weakened spot in the aneurysm wall, there is a risk for rupture (bursting) of the aneurysm. The most common type of cerebral aneurysm is called a saccular, or berry, aneurysm, occurring in 90 percent of cerebral aneurysms. This type of aneurysm looks like a "berry" with a narrow stem. More than one aneurysm may be present. Two other types of cerebral aneurysms are fusiform and dissecting aneurysms. A fusiform aneurysm bulges out on all sides (circumferentially), forming a dilated artery. Fusiform aneurysms are often associated with atherosclerosis.

Currently, the cause of cerebral aneurysms is not clearly understood. However, brain aneurysms are associated with several causative factors, such as smoking, hypertension, and family history. The most common cause of a brain aneurysm is an abnormal degenerative change in the wall of an artery, and the effects of pressure from the pulsations of blood being pumped forward through the arteries in the brain.

The prevalence of cerebral aneurysms has increased tremendously across the globe. Approximately, 30,000 people in the United States suffer from brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. The annual rate of rupture in the United States is found to be around 8 – 10 per 100,000 people. Hence, the rising prevalence of cerebral aneurysms is anticipated to fuel the growth of the market during the forecast period.

Product -Based Insights

In terms of product, the global interventional neuroradiology market is segmented into neurovascular embolization & coiling assist devices and accessories. In 2018, the neurovascular embolization & coiling assist devices segment held largest share of the market. Also, the same segment is estimated to register the highest CAGR during the forecast period.

 

Global Interventional Neuroradiology Market, by Product – 2018 and 2027



Global Interventional Neuroradiology Market, by Product – 2018 and 2027
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Disease-Based Insights

Based on disease, the global interventional neuroradiology market is segmented into cerebral aneurysms, intra-cranial tumors, acute strokes, and other diseases. The acute strokes segment held the largest market share in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.

End User-Based Insights

In terms of end user, the global interventional neuroradiology market is segmented into hospitals, ambulatory surgical centers and other end users. The hospitals segment held the largest share of the market in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.

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Interventional Neuroradiology Market: Strategic Insights

Interventional Neuroradiology Market

  • CAGR (2018 - 2027)
    5.9%
  • Market Size 2018
    US$ 1.97 Billion
  • Market Size 2027
    US$ 3.25 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Balt Extrusion
  • Merit Medical Systems
  • Terumo Corporation
  • Medtronic
  • Penumbra, Inc.
  • Stryker
  • DePuy Synthes
  • Boston Scientific Corporation
  • W. L. Gore & Associates

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Product
  • Neurovascular Embolization & Coiling Assist Devices
  • Accessories
Disease
  • Cerebral Aneurysms
  • Intra-Cranial Tumors
  • Acute Strokes
  • Intra-Cranial Tumors
  • Others
End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Other End Users
Geography
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South and Central America
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

The global interventional neuroradiology market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.

Global Interventional Neuroradiology Market – by Product

  • Neurovascular Embolization & Coiling Assist Devices
  • Embolic Coils
  • Flow Diversion Devices
  • Liquid Embolic Agents
  • Accessories
  • Microcatheters
  • Microguidewires

Global Interventional Neuroradiology Market – by Disease

  • Cerebral Aneurysms
  • Intra-Cranial Tumors
  • Acute Strokes
  • Other Diseases

Global Interventional Neuroradiology Market – by End- User

  • Hospitals
  • Ambulatory Surgical Centers
  • Other End Users

Global Interventional Neuroradiology Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • BALT EXTRUSION
  • Merit Medical Systems
  • Terumo Corporation
  • Medtronic
  • Penumbra, Inc.
  • Stryker
  • DePuy Synthes
  • Boston Scientific Corporation
  • W. L. Gore & Associates
  • MicroPort Scientific Corporation

Interventional Neuroradiology Market Report Scope

Report Attribute Details
Market size in 2018 US$ 1.97 Billion
Market Size by 2027 US$ 3.25 Billion
Global CAGR (2018 - 2027) 5.9%
Historical Data 2016-2017
Forecast period 2019-2027
Segments Covered By Product
  • Neurovascular Embolization & Coiling Assist Devices
  • Accessories
By Disease
  • Cerebral Aneurysms
  • Intra-Cranial Tumors
  • Acute Strokes
  • Intra-Cranial Tumors
  • Others
By End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Other End Users
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Balt Extrusion
  • Merit Medical Systems
  • Terumo Corporation
  • Medtronic
  • Penumbra, Inc.
  • Stryker
  • DePuy Synthes
  • Boston Scientific Corporation
  • W. L. Gore & Associates
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Product ; Disease ; End User and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

    The List of Companies

    1. Balt Extrusion
    2. Merit Medical Systems
    3. Terumo Corporation
    4. Medtronic
    5. Penumbra, Inc.
    6. Stryker
    7. DePuy Synthes
    8. Boston Scientific Corporation
    9. W. L. Gore & Associates
    10. MicroPort Scientific Corporation

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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