A report from Persistence Marketing Research predicts the demand for neurovascular thrombectomy devices (NTDs), particularly stent retrievers, will surge in the near future alongside a growing prevalence of cerebral infarction and ischemic stroke.
NTDs, also known as cerebral thrombectomy devices, are tools used to retrieve or destroy blood clots in the brains of patients with thrombolysis, Persistence wrote in their report, which was published mid-January. The market is largely monopolized by major players like Johnson and Johnson, Medtronic, Terumo and Stryker, all of whom hold significant revenue share in the global NTD market.
A nationwide push to educate more people about ischemic stroke has succeeded, leaving those companies clambering to acquire or merge with other entities and expand their product offerings.
“Various government or nonprofit organizations are making efforts to spread awareness regarding ischemic strokes and their preventive measures,” the report read. “Rising disease awareness and device adoption is expected to help in higher market penetration of neurovascular thrombectomy devices.”
The incidence of ischemic stroke is expected to continue rising, according to research from Persistence, but that means an elevated need for new disease management solutions and, ultimately, more revenue.
“Increasing mortality rate due to ischemic stroke has increased the need for neurovascular thrombectomy devices for better disease management,” the report read.
According to Persistence data, recent clinical trials related to NTDs have been positive, including five major studies that concluded in 2015. Outcomes confirming the efficacy of such devices will further drive the NTD market as scientists gather more information and companies adapt their products for different blood vessel diameters, thrombus locations and blood clot sizes to stay relevant.
The report predicts that of all NTDs, stent retrievers will see the greatest growth since they’re being used more and more by healthcare professionals. The other side of the market, aspiration catheters, will likely expand at a slower clip.
Persistence bases their predictions on quantitative and economic assessments of the adoption of NTDs in different regions and countries, which they then validate with “rigorous” primary and secondary research, according to the report. Find full results here.