The global neurovascular catheters market size is projected to reach USD 1,083.5 million by 2026, exhibiting a CAGR of 7.1% during the forecast period. Increasing prevalence of stroke around the globe will be the prime growth driver for this market in the coming years, states Fortune Business Insights™ in its new report, titled “Neurovascular Catheters Market Size, Share & Industry Analysis, By Type (Microcatheters, Balloon Catheters, Thrombectomy Catheters, and Others), By Application (Hemorrhagic Stroke, and Ischemic Stroke), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2019-2026”.
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Data analysis by the World Stroke Organization revealed that every year there are more than 13.7 million new stroke cases worldwide, with nearly 25% of the people over the 25 years of age likely to suffer from stroke at least once in their lifetime. Furthermore, the Global Burden of Disease (GBD) study of 2018 found that strokes caused approximately 5.5 million deaths and 116.4 million Disability-Adjusted Life Years (DALYs) globally in 2016. Thus, strokes present a heavy health and economic burden and therefore, their effective treatment should a top priority. This situation would, as a result, generate huge demand for neurovascular catheters across the globe as these devices have proven to be critical in performing neurovascular procedures.
Leading Players operating in the Neurovascular Catheters Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Braun Melsungen AG
- Zeus Industrial Products, Inc.
- RAUMEDIC AG
- Penumbra, Inc.
- Integra LifeSciences
- DePuy Synthes
- Integer Holdings Corporation
- Boston Scientific Corporation
- Teleflex Incorporated
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Rising Incidence of Brain Aneurysms to Propel the Market
Brain aneurysm refers to a bulging area in an artery in the brain that has the appearance of a balloon. The walls of this balloon are weak and therefore, it poses the risk of rupturing and inducing a hemorrhagic stroke in a patient. One of the leading neurovascular catheters market trends is the steadily climbing incidence rate of brain aneurysms. According to the Brain Aneurysm Foundation (BAF), around 6.5 million Americans are living with a non-ruptured brain aneurysm, with 30,000 of them suffering from an aneurysm rupture every year. Worldwide, nearly half a million people die because of brain aneurysms annually. Moreover, the economic costs of this condition are staggering. For example, the BAF estimates that the total loss faced in terms of wages by aneurysm survivors is approximately USD 150 million. Treating this complex condition necessitates the employment of efficient surgical devices and neurovascular catheters server this purpose perfectly well.
- February 2020: The US-based specialty medical device maker Teleflex Incorporated announced its acquisition of IWG High Performance Conductors, a leading company in medical tubing. This move will aid Teleflex in widening its customized medical devices portfolio and providing innovative solutions for neurovascular interventions.
- May 2019: Medtronic, the Irish medical device giant, introduced its revascularization device in the US called Solitaire X. The device is intended to treat patients suffering from acute ischemic stroke as it can efficiently remove blood clots in the brain and help restore blood flow in such patients.
North America to Occupy Driver’s Seat in the Market; Europe to Follow
With a market size of USD 271.6 million in 2018, North America is anticipated to dominate the neurovascular catheters market share during the forecast period. This will mainly occur as a result of rising prevalence of neurovascular disorders and patient-friendly reimbursement policies in the region. In Europe, rapid adoption of advanced medical devices and spreading awareness about neurovascular conditions will augment the market growth. Similarly, in Asia-Pacific, the primary growth drivers will be increasing incidence of complex neurovascular disorders such as arteriovenous malformations. However, market growth is expected to be slow in Middle East & Africa and Latin America on account of poor awareness about neurovascular disorders.
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- Balloon Catheters
- Access Catheters
- Micro Catheters
- Embolization Catheters
- Intracranial Support Catheters
- Embolic Stroke
- Brain Aneurysms
- Sinus Fistulas
- Arteriovenous Malformations
- Ether Ketone
- Ambulatory Surgery Centres
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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