Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Neurovascular Catheters market.
Trusted Business Insights presents an updated and Latest Study on Neurovascular Catheters Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Neurovascular Catheters market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Neurovascular Catheters Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19
Report Overview: Neurovascular Catheters Market
The global neurovascular catheters market size was valued at USD 1.6 billion in 2020 and is anticipated to expand at a CAGR of 5.6% over the forecast period 2021-2027. Increasing prevalence of neurological conditions, such as stroke and brain aneurysm, and rising demand for minimally invasive neurosurgical procedures are expected to drive the market for neurovascular catheters.
Strokes or hemorrhage are the results 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 the blocked blood vessels of the brain. Minimally invasive endovascular surgery techniques are preferred for the repair of an infrarenal abdominal aortic aneurysm. Microcatheters, coupled with the other advanced techniques, are preferred for the treatment of various neurovascular conditions, such as aneurysms, stroke, and other blood vessel conditions.
Moreover, minimally invasive neurovascular surgeries involve fewer interruptions of muscles and tendons, making the procedure more natural and easier. Minimally invasive techniques are used in the treatment of various neurovascular conditions, such as acute ischemic stroke, intracranial aneurysms, vascular malformations, and intracranial vascular stenosis. In these cases, wound closure is easier and simpler as well as the healing time is less as compared to traditional, open surgery.
Additionally, growing concerns over more aesthetic and natural appearance among all age groups as well as less amount of blood loss during minimally invasive surgeries are expected to fuel the demand for neurovascular catheters. Such procedures will further help lower trauma and facilitate quicker recovery than invasive procedures. Thus, increasing demand for minimally invasive procedures is expected to drive the market for neurovascular catheters.
Increasing awareness about neurological conditions, such as stroke, hemorrhage, and brain aneurysm, boosts the demand for neurovascular catheters. As per the Brain Aneurysm Foundation, almost 500,000 people die due to brain aneurysm every year. Whereas, in the U.S., 30,000 people suffer from brain aneurysm every year. In addition, the federal government of the U.S spends 83 cents per year on brain aneurysm research for each person affected. At present, several initiatives and programs have been launched by the governments of various countries to improve public awareness and treatment related to neurological conditions, such as ischemic stroke.
Furthermore, the U.S. government has implemented a smoking cessation policy, which indirectly aims at countering the incidence of stroke. Initiatives such as the Family Smoking Prevention and Tobacco Control Act give FDA the power to control the manufacture, marketing, and use of tobacco products. Moreover, the American Stroke Association is actively involved in the prevention and treatment of stroke and other neurovascular disorders. These initiatives are expected to positively impact the growth of the market for neurovascular catheters.
In addition, favorable government initiatives such as those undertaken by the Department of Health and Human Services in the U.S. to control the incidence of stroke are anticipated to provide growth opportunities for the market. The program involves initiatives undertaken to limit disorders causing stroke and improve the overall health of the people. Growing awareness among people and government initiatives to prevent the incidence rate of stroke is likely to boost the market growth.
Type Insights: Neurovascular Catheters Market
Based on type, the global neurovascular catheters market is segmented into microcatheters, balloon catheters, access catheters, embolization catheters, and others. In 2019, embolization catheters lead the market for neurovascular catheters owing to the increasing number of patients suffering from neurovascular conditions such as arteriovenous malformations, nose bleeding, and brain aneurysms. Furthermore, benefits offered by the embolization catheters such as high effectiveness in controlling bleeding and minimally invasive treatment as compared to the traditional surgery are contributing to the segment growth.
The microcatheters segment is expected to expand at the highest CAGR during the forecast period. Increasing number of neurosurgical procedures and the introduction of technologically advanced microcatheters by the key players, such as Medtronic, Stryker, and Terumo Corporation, are expected to drive these neurovascular catheters. Furthermore, microcatheters can be used for navigating the vast network of small veins that helps the surgeons to reach the tumor or clots even in the small veins, which is not accessible through other neurovascular catheters.
Application Insights: Neurovascular Catheters Market
Neurovascular catheters are used in the treatment of various diseases and conditions, such as embolic stroke, brain aneurysm, arteriovenous malformations, and other disorders. In 2019, the brain aneurysm segment lead the market for neurovascular catheters owing to factors such as increasing incidence of a brain aneurysm, new product launches by various market players, and increasing awareness among the population about the treatment of brain aneurysm.
The others segment is expected to expand at the highest CAGR during the forecast period. An increasing number of patients suffering from various neurovascular conditions, such as atherosclerosis and intracranial artery stenosis, government initiatives, and an increase in the R&D investment are a few factors contributing to the segment growth.
End-use Insights: Neurovascular Catheters Market
Based on end use, hospitals lead the market for neurovascular catheters in 2019. Government funding, availability of advanced products, and the presence of skilled neurosurgeons are some of the key factors driving the segment. In addition, increasing number of hospitals worldwide and improvement in the healthcare infrastructure in the developing countries are boosting the segment growth.
Ambulatory surgical centers are expected to expand at the highest CAGR during the forecast period. Factors such as the provision of same day surgical care inclusive of preventive and diagnostic procedures, shorter waiting time at the ambulatory surgical centers, personalized treatment, shorter stay, and government initiatives are fueling the segment growth.
Regional Insights: Neurovascular Catheters Market
North America lead the market for neurovascular catheters owing to government initiatives and increasing demand for minimally invasive surgical procedures. Furthermore, a surge in the prevalence of neurological conditions, such as brain aneurysm and stroke, and increasing disposable income are contributing to the market growth in the region.
Asia Pacific is expected to expand at the highest CAGR during the forecast period due to factors such as unhealthy lifestyle, growing aging population, increasing incidence of hypertension, improvement in the quality of diagnosis, and increasing government spending on healthcare. Moreover, the presence of high growth opportunities in developing countries, such as Japan, India, and China, due to the rising geriatric population and increasing prevalence of various neurovascular conditions, like an aneurysm, is likely to contribute to the regional market growth.
Neurovascular Catheters Market Share Insights
Major players operating in the industry for neurovascular catheters include
- phenox GmbH
- Penumbra, Inc.
- Integer Holdings Corporation
- Terumo Corporation
- Integra LifeSciences Corporation
- Acandis GmbH
- Spiegelberg GmbH & Co. KG.
Market players are focusing on the introduction of innovative neurovascular catheters, growth strategies, and technological advancements.
For instance, in 2019, Medtronic announced the launch of Solitaire X revascularization device in the U.S. for the treatment of patients suffering from acute ischemic stroke. Additionally, the company has launched Phenom 21 Catheter, (160cm microcatheter) for the delivery of all sizes of Solitaire X. Now, this neurovascular catheter eliminates blood clots from obstructed vessels in the brain to restore blood flow in patients with large vessel occlusion. These advancements are anticipated to drive the market for neurovascular catheters over the forecast period.
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global neurovascular catheters market report on the basis of type, application, end use, and region:
Type Outlook (Revenue, USD Million, 2016 – 2027)
- Balloon Catheters
- Access Catheters
- Embolization Catheters
Application Outlook (Revenue, USD Million, 2016 – 2027)
- Embolic Stroke
- Brain Aneurysm
- Arteriovenous Malformations
End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Ambulatory Surgical Centers
- Diagnostic Centers
Quick Read Table of Contents of this Report @ Neurovascular Catheters Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580