Neurothrombectomy Devices Market Trends

Growth Drivers

• Growing Per Capita Medical Expenditure – With advanced healthcare facilities and better diagnostics development, now people are spending more money on healthcare than ever to keep themselves disease-free which in turn is expected to escalate the neurothrombectomy devices market in the upcoming years. According to the OECD, health expenditure and financing in the United States increased from USD 11859 in 2020 to USD 12318 in 2021.
• Rapidly Increasing Death Toll of Strokes on Public Health – For instance, according to research, with over 5 million fatalities each year, stroke is the second most common cause of death in the world.
• An Upsurge in Government Spending on Healthcare – As per figures, United States government spending on healthcare increased by nearly 35% in 2020 which denotes a major increase from the 6% growth in 2019.
• Rising Cases of Ischemic Stroke - According to research, over 3.3 million people died of an ischemic stroke in 2020 throughout the world. Ischemic stroke accounts for more than 80% of stroke cases.
• Increased Risk of Thromboembolic and Ischemic Diseases as of COVID-19 – For instance, people with COVID-19 have a higher risk of incident cardiovascular disease in general, including cerebrovascular disorders, dysrhythmias, ischemic, and thromboembolic disease, following the 30 days of infection.

Challenges

• Extreme Cost of Neurothrombectomy Devices – Mechanical thrombectomy is a highly specialized process through which the blood clot is removed by a neurologist. This procedure necessitates the application of thrombectomy devices that are high in cost. Hence, this factor is anticipated to lower the market’s growth over the projected time frame.
• High Competition Among Major Market Players
• Delay in the Research and Testing Process of Neurothrombectomy Devices