Neurovascular Catheters Market To Reach $5.23 Billion By 2030

Neurovascular Catheters Market Growth & Trends 

The global neurovascular catheters market size was estimated at USD 5.23 billion in 2030 and is projected to expand at a CAGR of 7.25% from 2024 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. 

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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.

Neurovascular Catheters Market Segmentation 

Grand View Research has segmented the global neurovascular catheters market research report based on the type, component, application, End-use, and region:

Neurovascular Catheters Type Outlook (Revenue USD Million, Volume unit; 2018 - 2030)

• Microcatheters

• Balloon Catheters

• Access Catheters

• Embolization Catheters

• Others

Neurovascular Catheters Component Outlook (Revenue USD Million; 2018 - 2030)

• Catheter Mandrels

• Catheter Liners

• Reflow Heat Shrinks

• Nylon Tubing/Pebax

• Other Components

Neurovascular Catheters Application Outlook (Revenue USD Million; 2018 - 2030)

• Embolic Stroke

• Brain Aneurysm

• Arteriovenous Malformations

• Others

Neurovascular Catheters End-use Outlook (Revenue USD Million; 2018 - 2030)

• Hospitals

• Clinics

• Ambulatory Surgical Centers

• Diagnostic Centers

Neurovascular Catheters Regional Outlook (Revenue USD Million; 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Norway

  • Denmark

  • Sweden

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Neurovascular Catheters Market

• Medtronic

• Nordson Corporation

• Stryker Corporation

• Terumo Corporation

• Integer Holdings Corporation

• Penumbra, Inc.

• Johnson & Johnson Services, Inc.

• Integra LifeSciences Corporation