PUBLISHER: Grand View Research | PRODUCT CODE: 1268819
PUBLISHER: Grand View Research | PRODUCT CODE: 1268819
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.