Latin America Neurovascular Devices Market Size & Outlook
Latin America neurovascular devices market, 2018-2030 (US$M)
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Latin America neurovascular devices market highlights
- The Latin America neurovascular devices market generated a revenue of USD 499.1 million in 2023.
- The market is expected to grow at a CAGR of 5.3% 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 499.1 million |
| Market revenue in 2030 | USD 714.3 million |
| Growth rate | 5.3% (CAGR from 2023 to 2030) |
| Largest segment | Cerebral embolization and aneurysm coiling devices |
| Fastest growing segment | Neurothrombectomy Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 16.6% of the global neurovascular devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,092.8 million by 2030.
Cerebral embolization and aneurysm coiling devices was the largest segment with a revenue share of 35.22% in 2023. Horizon Databook has segmented the Latin America 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.
The neurovascular devices market in Latin America is anticipated to witness a moderate growth rate over the forecast period. Increasing awareness about treatment of acute ischemic stroke and growing healthcare expenditure in Latin America are primary factors expected to drive the market over the forecast period.
In addition, increasing healthcare expenditure in Brazil and gradual adoption of advanced healthcare facilities may positively impact the market growth.
However, lack of adequate skilled professionals & knowledge regarding proper treatment of acute ischemic stroke in countries such as Mexico, Colombia, and Argentina is likely to impede the market growth in Latin America.
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Neurovascular Devices Market Scope
Neurovascular Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America neurovascular devices market size, by country, 2018-2030 (US$M)
Latin America Neurovascular Devices Market Outlook Share, 2023 & 2030 (US$M)
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