Global Neurovascular Catheters Market Size, Trends, and Growth Opportunity By Type (Microcatheters, Balloon Catheters, Access Catheters, Embolization Catheters, and Others), By Application (Embolic Stroke, Brain Aneurysm, Arteriovenous Malformations, and Others), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers, and Diagnostic Centers), By Region and Forecast to 2030.
Report ID : IR1002389 | Industries : Healthcare | Published On :July 2024 | Page Count : 232
Global Neurovascular Catheters Market Size, Trends, and Growth Opportunity By Type (Microcatheters, Balloon Catheters, Access Catheters, Embolization Catheters, and Others), By Application (Embolic Stroke, Brain Aneurysm, Arteriovenous Malformations, and Others), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers, and Diagnostic Centers), By Region and Forecast to 2030.
Global Neurovascular Catheters Market
The Global Neurovascular Catheters Market was valued at USD 3.01 billion in 2022 and is expected to reach 6.5 billion by 2030, at a CAGR 6.97% during the forecast period 2023- 2030.
Catheters are medical devices with a tube-like construction that slide into bodily cavities for therapeutic or diagnostic purposes. Unwanted fluids can be removed from neurovascular organs like the carotid artery, brain, and intracranial spaces using neurovascular catheters, which aid in the administration of medications to the organs and the diagnosis of neurovascular diseases like carotid artery disease and brain aneurysms. The transport of neurovascular devices to neurovascular organs is assisted by neurovascular catheters. The use of neurovascular catheters in numerous cranial surgeries is a result.
Market Drivers
Urbanization, stressful environments, and sedentary lifestyles are to blame for the rise in stroke cases, procedures, and neurovascular catheter usage. These are the main driving forces behind the market for neurovascular catheters. Additionally, awareness of the various treatments and patient reimbursement rules has grown.
Furthermore, improving over time and device upgrades are some of the additional variables influencing the market for neurovascular catheters. The market for neurovascular catheters is expanding thanks to improvements in ergonomic designs and clinical efficacy.
Market Restraints
The acceptance of neurovascular catheters is being constrained by several problems. One of these is the relatively low rate of neurovascular disease treatments in underdeveloped economies. The lower prices are a result of the high operating costs and the dearth of different reimbursement policies.
Additionally, the use of neurovascular catheters is in danger due to the applications of catheters and the risks they carry. Numerous other risk problems, such as catheter occlusion and catheter compatibility issues, are some of the major obstacles preventing the market for neurovascular catheters from expanding.
COVID 19 Impact
In response to COVID-19, there has been a sharp increase in demand for medical products such as masks, gloves, and safety glasses. There is a growing demand for medical supplies from both healthcare professionals and the general public as a result of an increase in COVID-19 cases around the world. To maintain a sufficient and ongoing supply of personal protective equipment in the market, manufacturers of these items have the opportunity to take advantage of the rising demand for medical supplies.
Due to these reasons, COVID-19 is anticipated to have a major effect on the market for neurovascular catheters.
Market Segmentation
Global Neurovascular Catheters Market is segmented into Type, Application, and End-use.
Based on Type, the market is divided into Microcatheters, Balloon Catheters, Access Catheters, Embolization Catheters, and Others.
Based on Application, the market is classified into Embolic Stroke, Brain Aneurysm, Arteriovenous Malformations, and Others.
Based on End-use, the market is segmented into Hospitals, Clinics, Ambulatory Surgical Centers, and Diagnostic Centers.
Regional Analysis
The Global Neurovascular Catheters Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Due to the presence of major producers in the region, including Penumbra, Inc., Stryker Corporation, Merit Medical Systems, Inc., and Johnson & Johnson, North America dominated the market with the largest share. For instance, J&J's Cerenovus will invest USD54.19 million in an Irish research facility in February 2022 to develop stroke gadgets. In July 2021, Health Canada will grant Medtronic Canada ULC, a division of Medtronic plc, a license to use the Rist Selective Radial Access Catheter and the Rist 079 Radial Access Guide Catheter, a revolutionary radial access catheter system. Due to this, patients in need of interventional neurovascular therapy have easier access to Medtronic Canada ULC. With the Rist 079 Radial Access Guide Catheter, interventional devices can be introduced into the neuro vasculature, peripheral, and coronary.
Key Players
Various key players are discussed in the Global Neurovascular Catheters Market Report including: Stryker, Medtronic, Integer Holdings Corporation, DePuy Synthes, Integra Life Sciences Corporation, Biomerics, Zeus Industrial Products, Inc., RAUMEDIC AG, Concentric Medical, Inc.., Johnson and Johnson company.
The first enrollment in STRAIT, a multi-center, prospective observational EU study to assess the efficacy and safety of the BOBBY balloon guide catheter for endovascular treatment of acute ischemic stroke, was completed in April 2022, according to MicroVention, Inc., a Terumo Corporation wholly owned subsidiary.
Market Taxonomy
By Type
• Microcatheters
• Balloon Catheters,
• Access Catheters
• Embolization Catheters
• Others
By Application
• Embolic Stroke
• Brain Aneurysm
• Arteriovenous Malformations
• Others
By End-use
• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Diagnostic Centers
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa