Global Neurovascular Catheters Market Size, Share, Growth Analysis, By Application(Embolic Stroke, Brain Aneurysms), By Type(Micro, Balloon) - Industry Forecast 2024-2031

Global Neurovascular Catheters Market size was valued at USD 3.03 Billion in 2022 and is poised to grow from USD 3.25 Billion in 2023 to USD 5.66 Billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).

Several significant drivers propel the neurovascular market, including the escalating incidence of neurological disorders like brain aneurysms and stroke, the uptake of unhealthy lifestyles, heightened public consciousness regarding neurological ailment treatment, increasing disposable income, and the introduction of novel products by major market players. The surge in neurovascular diseases alongside advancements in neurovascular catheter technology are poised to fuel market expansion. Notably, the global prevalence of subarachnoid hemorrhage (SAH) stands at 6.67 per 100,000 individuals, affecting over 500,000 people annually, with low- and middle-income countries bearing a substantial burden. Furthermore, market growth is expected to persist due to technological breakthroughs in neurovascular access catheters. For instance, in February 2022, CERENOVUS, a subsidiary of Johnson & Johnson Medical Device Companies, launched EMBOGUARD, a cutting-edge balloon guide catheter for endovascular procedures, including acute ischemic stroke interventions. The market is likely to expand further with ongoing research and comparative studies on different neurovascular access catheters, such as the study in September 2022 highlighting the efficacy of access catheters with an inner diameter of 0.096 inches for neurovascular therapies via both femoral and radial arteries, demonstrating high technical success rates and minimal procedural complications.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Neurovascular Catheters Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Neurovascular Catheters Market Segmental Analysis

Global Neurovascular Catheters Market is segmented on the basis of application, type, end use and region. By type, the market is segmented into micro, balloon, access, embolization, and others. By application, the market is segmented into embolic stroke, brain aneurysms, arteriovenous malformations, and others. By end use, the market is segmented into hospitals, clinics, ambulatory surgical centers, and diagnostic centers. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Neurovascular Catheters Market

The increasing incidence of neurological conditions like stroke, aneurysms, and arteriovenous malformations (AVMs) is fueling the need for neurovascular catheters, which are crucial for both diagnosis and treatment. As the occurrence of these disorders continues to rise, the demand for neurovascular catheters is also escalating accordingly.

Restraints in the Global Neurovascular Catheters Market

Neurovascular catheters are employed for accessing and maneuvering through intricate blood vessels within the brain, presenting challenges that may result in diverse complications including bleeding, clotting, vessel perforation, and infection. These complications pose significant risks, potentially leading to severe neurological impairments or fatality, and contribute to prolonged hospitalization and escalated healthcare expenses. Furthermore, the likelihood of complications is heightened in patients with concurrent medical conditions.

Market Trends of the Global Neurovascular Catheters Market

The rising occurrence of neurological conditions like stroke, aneurysms, and arteriovenous malformations is fueling the need for neurovascular catheters. As per the World Health Organization (WHO), stroke ranks as the second most prevalent cause of death worldwide, intensifying the demand for viable treatment solutions for neurological disorders.