San Francisco, 27 May 2024: The Report Neurovascular Catheters Market Size, Share & Trends Analysis Report By Type (Microcatheter, Balloon Catheter, Access Catheter, Embolization Catheter), By Applications, By End-use, By Region, And Segment Forecasts, 2030 - 2030

The global neurovascular catheters market size is anticipated to reach USD 5.23 billion by 2030 and expand at a CAGR of 7.19% from 2030 to 2030, according to a new report by Grand View Research, Inc. The rising prevalence of neurological illnesses such as stroke, brain aneurysm, and cerebral artery stenosis is driving the growth of the market. According to the World Stroke Organization (WSO), in 2022, there will be over 12.2 million new strokes per year. One in every four adults over the age of 25 will suffer a stroke throughout their lifetime. In addition, nearly 7.6 million new ischemic strokes occur each year.

Around 62% of all incident strokes worldwide are ischemic strokes, with over 1.2 million new subarachnoid hemorrhages occurring each year. Thus, this, in turn, is expected to increase the demand for neurovascular catheters in the near future. The rising prevalence of brain aneurysms in both developed and developing countries is further driving the introduction of technologically advanced products to the market. Market participants are constantly working to introduce technologically advanced products to the market.For instance, in September 2021, Medtronic plc announced the CE Mark clearance of its radial artery access portfolio, which comprises the Rist 079 Access Radial Guide Catheter and the Access Rist Radial Selective Catheter.

Furthermore, in March 2022, MicroPort Scientific Company announced that its Hyperflex Balloon Catheter has received registration approval from the Japan Pharmaceuticals and Medical Devices Agency (PMDA). Various initiatives are undertaken by the government worldwide to prevent stroke. For instance, the Well-Integrated Screening and Evaluation for Women Across the Nation (WISEWOMAN) program was started by the U.S. CDC in three states: North Carolina, Massachusetts, and Arizona, to minimize the risk of stroke and other neurovascular diseases in women by promoting a healthy lifestyle.

The increasing prevalence of neurological conditions such as brain aneurysms and stroke, the adoption of unhealthy lifestyle, increasing awareness among the population about the treatment of neurological conditions, increasing disposable income, and new product launch by the key market players are some of the prime factors driving the market.

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The increasing prevalence of neurological conditions such as brain aneurysms and stroke, the adoption of unhealthy lifestyle, increasing awareness among the population about the treatment of neurological conditions, increasing disposable income, and new product launch by the key market players are some of the prime factors driving the market.

Neurovascular Catheters Market Report Highlights

• In 2022, embolization catheters dominated the neurovascular catheters market with a market share of 27.62% owing to the increasing prevalence of conditions, such as brain aneurysms, nose bleeding, and arteriovenous malformations
• Based on application, brain aneurysm segment dominated the market in 2022 with a market share of 32.79% owing to the rising number of patients suffering from neurovascular diseases and conditions, such as carotid artery stenosis and atherosclerosis
• Among end use, hospitals held a majority share of the market of 55.53% in the year 2022. An increasing number of patients being admitted to hospitals due to surgeries, therapies, and treatments is expected to increase the demand for neurovascular catheters in the near future
• North America led the market with a maximum revenue share of 33.23% in 2022. Rising demand for minimally invasive surgeries and rising government initiatives for improving healthcare infrastructures are among the key factors driving market growth. In addition, technological advancement and innovation of new noninvasive techniques will create lucrative opportunities for the segment

Minimally invasive surgeries are gaining popularity owing to reduced risk and trauma associated with these procedures. Strokes, or hemorrhage, are the result of damaged, blocked or injured blood vessels, which can cause bleeding or circulation problems in the brain. Open or minimally invasive surgical techniques are used for the treatment of blocked blood vessels of the brain. To remove the blockage from the brain, minimally invasive endovascular surgery techniques are preferred. Neurovascular catheters coupled with other advanced devices are preferred as minimally invasive techniques for the treatment of aneurysm, stroke, and other blood vessel conditions in the brain. This minimally invasive technique offers quicker recovery and less stress on the body as compared to open surgery.

Moreover, minimally invasive neurovascular surgeries involve fewer interruptions of muscles and tendons, making the procedure more natural and easier. Certain benefits offered by these catheters, such as easy access to intracranial space, minimal invasion, and simplification of complex procedures owing to advanced designs & features of catheters, make wound closure easier as well as enable faster healing as compared to traditional, open surgery. Increasing concern for more esthetic and natural appearance in all age groups and less amount of blood loss during minimally invasive surgeries are among the major market growth drivers. Such procedures will further help lower trauma and facilitate quicker recovery than invasive procedures. Thus, neurovascular catheters involve less amount of blood loss and quicker recovery time, which is expected to increase the demand for minimally invasive neurovascular procedures.

Neurovascular Catheters Market Report Scope

A slew of potential new technologies, mergers and acquisitions in the neurovascular space are on the horizon. For instance, in October 2022, the Medtronic Neurovascular Co-Lab Platform was created to help speed much-needed innovation in stroke treatment and care. Their community platform aims to transform ideas and technology into breakthrough global medicines by giving entrepreneurs and physicians with insight and care, and, most importantly, ensuring that innovation reaches as many people as possible around the world. As a result, the availability of new treatment choices and an expanding variety of tactics will drive up demand for neurovascular catheters in the coming years.

List of Key Players in the Neurovascular Catheters Market

• Medtronic
• Stryker
• Terumo Corporation
• Integer Holdings Corporation
• Penumbra, Inc.
• Johnson & Johnson Services, Inc.
• Integra LifeSciences Corporation
• Acandis GmbH
• Spiegelberg GmbH & Co. KG