Neurovascular Catheters Market Growth Set to Surge Significantly during 2021-2031
Neurovascular Catheters Market: Introduction
- Catheter is a long thin tube inserted in the body to treat or perform surgical procedure. Treatment of neurovascular conditions requires specialized and miniature delivery access systems. Neurovascular catheters are improved and technically advanced medical devices useful in treatment of various neurovascular disease and conditions. Neurovascular catheters are used to withdraw unwanted fluid from the brain, carotid artery, intracranial spaces, and others neurovascular organs.
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- Neurovascular catheters are widely used in the prevention of embolic stroke. Neurovascular catheters comprise guidewires, microcatheters, thrombectomy catheters, coil delivery systems, vascular closure devices, and embolization catheters. Hence, availability of technically advanced components and catheters has created a paradigm shift in minimally invasive surgeries.
Key Drivers, Restraints, and Opportunities of Neurovascular Catheters Market
- Shift toward minimally invasive surgeries, rise in awareness about neurovascular catheters, technological advancements, and adoption of innovative devices are factors projected to boost the growth of the global neurovascular catheters market during the forecast period. Furthermore, increase in cases of stroke, blood vessel rupture, stenosis, and embolism are anticipated to fuel the growth of the global market in the next few years. Increase in number of patients suffering from cerebrovascular conditions across regions is expected to drive the global neurovascular catheters market during the forecast period.
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- According to NCBI data (2021), the global prevalence of cerebral aneurysm is 3.2%, with a mean age of 50. It is most common among the population of Finland and Japan, with overall mortality rate of aneurysmal SAH (subarachnoid hemorrhage) at 20%, and 30% to 40% of morbidity in patients with rupture. These factors are likely to propel the global neurovascular catheters market during the forecast period.
North America to Dominate Global Neurovascular Catheters Market
- North America dominated the global neurovascular catheters market in 2020, followed by Europe and Asia Pacific. According to research, cerebrovascular disease is the third leading cause of death in the U.S., with an estimated 134,000 deaths every year. New or recurrent strokes are expected to reach 1.25 million by 2025 in the country. This is projected to boost the demand for neurovascular catheters in the region during the forecast period. Moreover, stroke is considered a major cause of disability among adults in the U.S., which leads to neurovascular conditions. Favorable regulatory approvals by the FDA, technological advancements, and presence of key players in the region are anticipated to drive the neurovascular catheters market during the forecast period. In January 2019, Imperative Care, Inc. announced that the U.S. FDA approved the 510(k) clearance of its first family of access catheters suitable for aneurysms, stroke, and other blood vessel conditions.
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- Europe is considered another prominent market for neurovascular catheters. Availability of innovative catheters, technological advancements, increase in incidence and prevalence of stroke, trauma, aneurysms, arteriovenous malformations (AVMs), and other conditions are likely to drive the demand for neurovascular catheters during the forecast period. Presence of key players in countries in Europe offering innovative neurovascular catheters is projected to propel the market during the forecast period.
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Key Companies in Global Neurovascular Catheters Market
- Balt USA LLC
- Integer Holdings Corporation
- DePuy Synthes
- Integra Life Sciences Corporation
- Zeus Industrial Products, Inc.
- RAUMEDIC AG
- Concentric Medical, Inc.
- Creganna Medical
- Terumo Corporation
- Other prominent players
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