Interventional Neuroradiology Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

Interventional Neuroradiology Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Neurovascular Embolization & Coiling Assist Devices, Accessories), Disease (Cerebral Aneurysms, Intra-Cranial Tumors, Acute Strokes, Other Diseases), End User (Hospitals, Ambulatory Surgical Centers, Other End Users), and Geography

  • Report Code : TIPRE00003497
  • Category : Medical Device
  • No. of Pages : 150
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The Interventional neuroradiology market size is projected to reach US$ 2.41 billion by 2031 from US$ 4.42 billion in 2023. The market is expected to register a CAGR of 7.2% during 2023–2031. Ongoing clinical trials for the treatment of stroke is thus likely to remain a key trends in the market.

Interventional Neuroradiology Market Analysis

Identifying conditions such as embolisms and ischemia has been made easier and less intrusive by developments and improvements in diagnostic and imaging tools. The Radiological Society of North America reports a 43 percent rise in radiology exams using sophisticated modalities. In 2020, it's anticipated that health data would total more than 2,000 exabytes. Because of this, there is a greater need for neurovascular devices to treat them.

Interventional Neuroradiology Market Overview

A minimally invasive (MIS) medical procedure is generally carried out by inserting a small device in the body through an incision or anatomical opening. Minimally invasive procedures have been performed widely in recent years. Since these incisions are tiny, the patient recovers comparatively faster, with less discomfort. Benefits of a minimally invasive procedure include minor cuts, less trauma to the muscles, tissues, and nerves tissues, less tissue injury, less tissue injury, less pain, less trauma to organs, faster oral intake, and less hospital stay. In addition, the rise in awareness about minimally invasive procedures and the availability of reimbursement for minimally invasive procedures are likely to foster the demand for minimally invasive procedures. Thus, owing to these factors, the market for interventional neuroradiology is likely to propel significantly during the forecast period.

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Interventional Neuroradiology Market: Strategic Insights

Market Size Value inUS$ 1,969.39 Million in 2018
Market Size Value byUS$ 3,254.55 Million by 2027
Growth rateCAGR of 5.9% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Interventional Neuroradiology Market Drivers and Opportunities

Rise In The Prevalence Of The Cerebral Aneurysm to Favor Market

Neurological diseases are disorders of the spine, brain, and the nerves that connect them. There are beyond 600 diseases of the nervous system, includes as brain tumors, Parkinson's disease, epilepsy, and stroke, as well as less familiar ones, for instance frontotemporal dementia. In recent years, the prevalence of neurological disorders has increased significantly. A brain aneurysm ruptures every 18 minutes. The annual rupture rate in the United States is around 8 – 10 per 100,000 people. Thus, the rising prevalence of cerebral aneurysms is anticipated to fuel the market's growth during the forecast period.

Development in the Healthcare Market

The health care industry has been witnessing rapid transformations in recent years. Various technological advancements have been witnessed in the industry, such as stem cell therapy, smart brain prosthetics, and transcranial MRI-guided focused ultrasound. Countries across the globe have been preferring advanced technologies in healthcare. With a need for better healthcare capabilities, technology-enabled care (TEC) solutions are preferred in healthcare systems in emerging economies. The increase in the ageing population, incidences of chronic illnesses are the primary factors driving the growth of the healthcare sector. There has been a significant increase in healthcare expenditure in recent years. As per the World Bank, Healthcare expenditure accounts for 9.94% of global GDP. The above factors are expected to offer broad growth opportunities in the healthcare industry at the global level.

 Interventional Neuroradiology Market Report Segmentation Analysis

Key segments that contributed to the derivation of the  interventional neuroradiology market analysis are product, disease and end user.

  • Based on product, the interventional neuroradiology market is divided into neurovascular embolization & coiling assist devices, accessories. The neurovascular embolization & coiling assist devices segment held a larger market share in 2023.
  • By disease, the market is bifurcated into cerebral aneurysms, intra-cranial tumors, acute strokes, other diseases. The acute strokes segment held the largest share of the market in 2023.
  • By end user, the market is segmented into hospitals, ambulatory surgical centers, other end users. The hospitals segment held the largest share of the market in 2023.

 Interventional Neuroradiology Market Share Analysis by Geography

The geographic scope of the  interventional neuroradiology market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

The market for interventional neuroradiology in the US holds the largest share among the countries of North America. The market is expected to grow owing to the availability of advanced healthcare infrastructure, the number of neurological disorders, and product innovations introduced by key players operating in the region. In the United States, an increase in the prevalence of neurological disorders has been witnessed in recent years. According to the Brain Aneurysm Foundation’s recent data published in 2023 states, approximately 6.8 million people have unruptured brain aneurysms in the US.  Therefore, the prevalence of the brain aneurysm and the developments made by the companies is expected to propel the market's growth during the forecast period.

 Interventional Neuroradiology Market Report Scope

 Interventional Neuroradiology Market News and Recent Developments

The  Interventional Neuroradiology Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the  interventional neuroradiology market are listed below:

  • Royal Philips, a global leader in health technology, announced major enhancements to its Image Guided Therapy System – Azurion – with the launch of its new Azurion neuro biplane system. (Source: Royal Philips, Company Website, February 2024)
  • CERENOVUS, Inc., part of Johnson & Johnson MedTech, launched CEREGLIDE 71 Intermediate Catheter, a next-generation intermediate catheter with TruCourse indicated for the revascularization of patients suffering from acute ischemic stroke. (Source: CERENOVUS, Inc., Company Website, February 2024)

 Interventional Neuroradiology Market Report Coverage and Deliverables

The “ Interventional Neuroradiology Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Interventional neuroradiology market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Interventional neuroradiology market trends as well as market dynamics such as drivers, restraints, and key opportunities
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Interventional neuroradiology market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the XYZ market
  • Detailed company profiles
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

Frequently Asked Questions

Which region dominated the interventional neuroradiology market in 2023?

North America dominated the interventional neuroradiology market in 2023

What are the driving factors impacting the interventional neuroradiology market?

Key factors driving the market are progressive aging population, increasing demand for minimally invasive procedures and rise in the prevalence of the cerebral aneurysm.

What are the future trends of the interventional neuroradiology market?

Ongoing clinical trials for the treatment of stroke is thus likely to remain a key trends in the market.

Which are the leading players operating in the interventional neuroradiology market?

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

What is the expected CAGR of the interventional neuroradiology market?

The market is expected to register a CAGR of 7.2% during 2023–2031.

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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