Canada Neurovascular Devices Market Size & Outlook
Canada neurovascular devices market, 2018-2030 (US$M)
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Canada neurovascular devices market highlights
- The Canada neurovascular devices market generated a revenue of USD 73.3 million in 2023 and is expected to reach USD 115.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 6.7% 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 73.3 million |
| Market revenue in 2030 | USD 115.5 million |
| Growth rate | 6.7% (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, Canada accounted for 2.4% 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 North America, U.S. neurovascular devices market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 115.5 million by 2030.
Cerebral embolization and aneurysm coiling devices was the largest segment with a revenue share of 34.92% in 2023. Horizon Databook has segmented the Canada 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.
Healthcare coverage and compulsory insurance in the country enable adoption of advanced technologies. Industrialization in Quebec and Ontario is expected to positively impact the market due to the entry of new market players.
In addition, increasing awareness, as well as the presence of organizations such as the Canadian Neurological Sciences Federation and the Canadian Neurovascular Health Society, which focuses on neurovascular research, can promote market growth in the future.
Furthermore, rising government initiatives to spread awareness about brain aneurysms are expected to fuel market growth over the forecast period. For instance, the Brain Aneurysm Foundation of Canada organizes such awareness programs and conducts monthly educational webinars & social media campaigns for highlighting the prevalence of brain aneurysms.
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Neurovascular Devices Market Scope
Neurovascular Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada neurovascular devices market size, by device, 2018-2030 (US$M)
Canada Neurovascular Devices Market Outlook Share, 2023 & 2030 (US$M)
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