Global Neurovascular Catheters Market Size, Share & Industry Trends Analysis Report By Type, By End-Use (Hospitals, Clinics, Ambulatory Surgical Centers and Diagnostic Centers), By Application, By Regional Outlook and Forecast, 2023 - 2029

Global Neurovascular Catheters Market Size, Share & Industry Trends Analysis Report By Type, By End-Use (Hospitals, Clinics, Ambulatory Surgical Centers and Diagnostic Centers), By Application, By Regional Outlook and Forecast, 2023 - 2029

The Global Neurovascular Catheters Market size is expected to reach $4.6 Billion by 2029, rising at a market growth of 6.8% CAGR during the forecast period.

Catheters are medical devices utilized for therapeutic or diagnostic purposes, consisting of a tubular structure that is inserted into the body cavity. Neurovascular catheters can effectively remove excess fluids from neurovascular organs such as the carotid artery, brain, and intracranial spaces. This facilitates the administration of medications and aids in the diagnosis of neurovascular diseases such as carotid artery disease and brain aneurysms.

Neurovascular catheters facilitate the transportation of neurovascular devices to vital neurovascular organs, such as the brain. Thus, neurovascular catheters are utilized in diverse cranial operations. The demand for neurovascular catheters has been on the rise due to an increase in neurological procedures. Furthermore, there have been several innovative treatments for ischemic stroke, such as flow-diverting stents and stent retrievers, which have contributed to the advancement of catheter production.

The catheters utilized for such interventions are specially designed to cater to the sensitivity of neurovascular organs. Any malfunction or failure of the catheter can lead to vessel damage and perforation. The rising demand for neurovascular catheters is anticipated due to a rising number of neurovascular surgeries and catheter usage in surgical procedures and this trend is expected to continue during the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the economy globally, affecting both developing and developed nations. It caused disruptions in operations across all sectors and organizations, regardless of their size. In addition, COVID-19 had a significant impact on the healthcare industry. The pandemic has moderately impacted the neurovascular catheter market, with a drop in non-essential medical procedures and restricted patient footfall throughout healthcare settings during the crisis. Amid the COVID-19 pandemic, the medical and healthcare industries were working diligently to maintain their operations despite ongoing lockdown measures.

Market Growth factors

The Growing Adoption of Advance Catheters

An advanced catheter is a medical device that is minimally invasive and typically includes a thin-walled, braid-reinforced shaft or tube that has several durometers. In specific cases, physicians can use advanced catheters to map the cardiovascular system and ablate cardiac tissue. In certain scenarios, these catheters aid in the positioning and transporting of additional implantable equipment. The designs of advanced catheters are typically less forgiving compared to traditional catheters. The development of advanced catheters has expanded the capabilities of minimally invasive procedures, allowing physicians to reach previously inaccessible areas of the body. As a result, these catheters play a crucial role in enhancing patient outcomes and streamlining surgical procedures. With their growing usage, the market for neurovascular catheters is expected to propel.

There Is an Increasing Incidence of Hemorrhagic Stroke

Hemorrhagic stroke is a medical condition that occurs when a blood vessel ruptures and causes bleeding in the brain. The classification of hemorrhagic stroke includes intracerebral hemorrhage (ICH) and subarachnoid hemorrhage (SAH). Hemorrhagic stroke poses a significant risk of morbidity and mortality. The severity of hemorrhagic stroke is linked to poorer outcomes. Prompt diagnosis and treatment are crucial due to the typical swift progression of hemorrhage, which can result in a sudden decline of consciousness and neurological impairment. The increasing prevalence of hemorrhagic stroke globally will increase the utilization of neurovascular catheters and thereby surge the market growth.

Market Restraining Factors

Dearth Of Medical Professionals

The availability, accessibility, acceptability, and quality of health workers are crucial for the functioning of health systems. Achieving optimal health service coverage and fulfilling the right to the highest attainable standard of health is contingent upon these factors. According to WHO projections, there is a potential deficit of 10 million healthcare professionals by 2030, primarily in low- and lower-middle-income nations. Notwithstanding, nations of diverse economic standings encounter challenges in educating, employing, assigning, retaining, and enhancing the productivity of their labor force. The shortage of healthcare professionals, especially in low and middle-income nations, will decrease neurovascular procedures, resulting in low adoption of neurovascular catheters and restricting the market growth.

Type Outlook

Based on type, the neurovascular catheters market is segmented into microcatheters, balloon catheters, access catheters, embolization catheters and others. The microcatheters segment acquired a considerable growth rate in the neurovascular catheters market in 2022. This is due to the fact that microcatheters are a vital tool in neurovascular procedures, as they are small, hollow tubes inserted into blood vessels. These devices are designed for the purpose of delivering a range of neurovascular tools to the brain site and are utilized in various diagnostic and therapeutic cranial procedures.

End Use Outlook

By end use, the neurovascular catheters market is classified into hospitals, clinics, ambulatory surgical centers and diagnostic centers. The hospitals segment witnessed the largest revenue share in the neurovascular catheters market in 2022. The primary reason for the growth of this segment is the increasing number of patients with neurovascular disorders. The availability of technologically advanced neurovascular catheters and favorable reimbursement policies are increasing their popularity.

Application Outlook

On the basis of application, the neurovascular catheters market is divided into embolic stroke, brain aneurysms, arteriovenous malformations and others. This is owing to the various benefits ASCs provide to its patients, such as reduced procedure time and discharge on the same day. Advanced and minimally invasive surgical procedures have made it possible to perform most neurosurgeries at ASCs. In addition, ASCs offer cost-effective healthcare options to patients as compared to hospitals.

Regional Outlook

Region-wise, the neurovascular catheters market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region registered the highest revenue share in the neurovascular catheters market in 2022. The market growth in North America is due to the presence of many major companies. There is a growing need for minimally invasive surgical procedures and a rising number of neurological disorders. Moreover, escalated research and development expenses by manufacturers and augmented government initiatives are substantially fueling the growth of the neurovascular catheters market in the region.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Johnson & Johnson (Johnson & Johnson Services, Inc.) is the forerunners in the Neurovascular Catheters Market. Companies such as Terumo Corporation, Integer Holdings Corporation, and Medtronic PLC are some of the key innovators in Neurovascular Catheters Market.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Medtronic PLC, Stryker Corporation, Terumo Corporation, Integer Holdings Corporation, Penumbra, Inc., Johnson & Johnson (Johnson & Johnson Services, Inc.), Integra LifeSciences Corporation, Acandis GmbH, Spiegelberg GmbH & Co. KG, RAUMEDIC AG (REHAU Industries SE & Co. KG)

Scope of the Study

Market Segments covered in the Report:

By Type

Embolization Catheters
Access Catheters
Balloon Catheters
Microcatheters
Others
By End Use

Hospitals
Clinics
Ambulatory Surgical Centers
Diagnostic Centers
By Application

Brain Aneurysm
Embolic Stroke
Arteriovenous Malformations
Hydrolysate
By Geography

North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled

Medtronic PLC
Stryker Corporation
Terumo Corporation
Integer Holdings Corporation
Penumbra, Inc.
Johnson & Johnson (Johnson & Johnson Services, Inc.)
Integra LifeSciences Corporation
Acandis GmbH
Spiegelberg GmbH & Co. KG
RAUMEDIC AG (REHAU Industries SE & Co. KG)
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