Medtronic’s latest recall of the Pipeline Vantage 027 and 021 products is likely to result in revenue losses in the flow-diverting stents market. The flow-diverting stents market was worth $746.9m in 2024 and is expected to reach $1.03bn in 2034 with a compound annual growth rate of 3.3%, according to GlobalData, a leading data and analytics company. This costly string of incidents can be expected to cause some hesitancy towards using Medtronic’s flow-diverting stents in the near future. Healthcare providers may look to more reliable devices when performing delicate procedures such as treating aneurysms in the case of this device.
The recall comes after as many as four deaths and 17 injuries were linked to Medtronic’s devices due to tubes unable to properly attach to blood vessel walls throughout procedures, resulting in risks to the patient for stroke, thrombosis, and death.
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Due to the severity of this recall, there is a significant opportunity to make gains in the flow-diversion stents market for Terumo and Stryker, however, it is unlikely to translate into major changes in market position in the overarching neurovascular embolisation market. In the larger neurovascular embolisation device market, Medtronic is a major player, making up the largest portion of about 31.8% of the global market with competitors such as Stryker and Terumo taking up 25.3% and 17.4% of the market, respectively. However, looking specifically at the flow diversion-stents section of neurovascular embolisation devices, Medtronic dominates this space, taking up approximately 55.9% of the market with Stryker and Terumo covering 18.5% and 18.9%, respectively.
The global neurovascular embolisation market is expected to continue to increase as a result of better patient outcomes for endovascular procedures for treating arteriovenous malformations (AVMs) rather than surgical procedures, which are more invasive. Additionally, incidences of AVMs are expected to grow due to population trends and advancements in diagnostic technologies are also anticipated to boost growth in this area.
Medtronic has incurred a substantial complication in flow-diversion stents that could result in notable losses. Although this presents a setback for flow-diversion stents, it is unlikely to have a meaningful effect on its position in neurovascular embolisation overall, which is expected to display significant growth over the next decade.
