Australia Neurovascular Devices Market Size & Outlook
Australia neurovascular devices market, 2018-2030 (US$M)
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Australia neurovascular devices market highlights
- The Australia neurovascular devices market generated a revenue of USD 65.1 million in 2023 and is expected to reach USD 109.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, cerebral embolization and aneurysm coiling devices was the largest revenue generating device in 2023.
- Neurothrombectomy Devices is the most lucrative device segment registering the fastest growth during the forecast period.
Neurovascular devices market data book summary
| Market revenue in 2023 | USD 65.1 million |
| Market revenue in 2030 | USD 109.2 million |
| Growth rate | 7.7% (CAGR from 2023 to 2030) |
| Largest segment | Cerebral embolization and aneurysm coiling devices |
| Fastest growing segment | Neurothrombectomy Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Cerebral Embolization and aneurysm Coiling devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices, Trans Radial Access Devices |
| Key market players worldwide | Medtronic PLC, Johnson & Johnson, Penumbra Inc, MicroPort Scientific Corp, Stryker Corp, Terumo Corp, Integra Lifesciences Holdings Corp |
Other key industry trends
- In terms of revenue, Australia accounted for 2.2% of the global neurovascular devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan neurovascular devices market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 212.2 million by 2030.
Cerebral embolization and aneurysm coiling devices was the largest segment with a revenue share of 34.87% in 2023. Horizon Databook has segmented the Australia neurovascular devices market based on cerebral embolization and aneurysm coiling devices, cerebral angioplasty and stenting systems, neurothrombectomy devices, support devices, trans radial access devices covering the revenue growth of each sub-segment from 2018 to 2030.
Factors promoting market growth over the forecast period. For instance, as per a study published by Stroke Foundation in 2018, stroke is one of the leading causes of death in Australia, and in 2017, there were more than 56,000 recurrent and new stroke cases reported in Australia.
Similarly, as per a report published by Australian Institute of Health and Welfare in 2018, around 8,200 deaths were recorded due to stroke, representing 5.20% of all deaths in Australia in 2016. Such factors are anticipated to positively impact the market growth.
In addition, as per a report published by Australian Institute of Health and Welfare in 2018, government funding was around two-thirds of all healthcare spending and nongovernment funding was around 33.00%.
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Neurovascular Devices Market Scope
Neurovascular Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia neurovascular devices market size, by device, 2018-2030 (US$M)
Australia Neurovascular Devices Market Outlook Share, 2023 & 2030 (US$M)
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