Neurovascular Catheters Market Size, Share & Trends Analysis Report By Type (Microcatheter, Balloon Catheter, Access Catheter, Embolization Catheter), By Applications, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Neurovascular Catheters Market Size, Share & Trends Analysis Report By Type (Microcatheter, Balloon Catheter, Access Catheter, Embolization Catheter), By Applications, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Neurovascular Catheters Market Growth & Trends

The global neurovascular catheters market size is anticipated to reach USD 5.23 billion by 2030 and expand at a CAGR of 7.19% from 2023 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.

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

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