Saudi Arabia Neurovascular Devices Market Size & Outlook
Saudi Arabia neurovascular devices market, 2018-2030 (US$M)
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Saudi Arabia neurovascular devices market highlights
- The Saudi Arabia neurovascular devices market generated a revenue of USD 28.4 million in 2023 and is expected to reach USD 39.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, cerebral embolization and aneurysm coiling devices was the largest revenue generating device in 2023.
- Support 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 28.4 million |
| Market revenue in 2030 | USD 39.2 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Cerebral embolization and aneurysm coiling devices |
| Fastest growing segment | Support 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, Saudi Arabia accounted for 0.9% 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 Middle East & Africa, South Africa neurovascular devices market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 45.4 million by 2030.
Cerebral embolization and aneurysm coiling devices was the largest segment with a revenue share of 35.21% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
Saudi Arabia neurovascular devices market is anticipated to witness a moderate growth rate over the forecast period. Increasing number of acute ischemic stroke cases is a major factor driving the market.
For instance, as per an article published by Hindawi in 2018, stroke is one of the major challenges in Saudi Arabia and the incidence rate of stroke was around 30 cases per 100,000 populations.
Furthermore, growing adoption of sedentary lifestyle is expected to boost the rate of acute ischemic stroke, thereby increasing the demand for neurovascular devices. However, low adoption of advanced healthcare facilities and lack of skilled healthcare professionals in Saudi Arabia may hinder the market growth.
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Neurovascular Devices Market Scope
Neurovascular Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia neurovascular devices market size, by device, 2018-2030 (US$M)
Saudi Arabia Neurovascular Devices Market Outlook Share, 2023 & 2030 (US$M)
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