Neurovascular Catheters Global Market Report 2024

The neurovascular catheters market has grown strongly in recent years. It will grow from $4.22 billion in 2023 to $4.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. Historical growth in the utilization of neurovascular catheters can be attributed to several factors. These include the increased paperwork within enterprises, the improvement in accuracy and recognition rates of these catheters, the growth of the banking and financial services sector, the digitization of medical records, addressing the needs within the education sector, as well as initiatives aimed at reducing costs.

The neurovascular catheters market is expected to see strong growth in the next few years. It will grow to $6.72 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. Anticipated growth in the upcoming period within the realm of neurovascular catheters can be attributed to various factors. These include the growing regulatory compliance needs, the expansion of data analytics utilization, cross-industry adoption of these catheters, enhancements in security features, and an increased emphasis on environmental sustainability within this field.

The growth trajectory of the neurovascular catheter market is poised to surge due to the escalating incidence of neurological conditions. These conditions, impacting the brain, nerves, and spinal cord, prompt the use of neurovascular catheters for diagnosis and intervention in neurovascular procedures. Notably, the World Health Organization's 2022 report projects a concerning statistic one in four individuals over 25 may face a stroke in their lifetime, with 13.7 million new cases annually, resulting in 5.5 million deaths. Additionally, hemorrhagic strokes, affecting nearly 15 million globally, contribute significantly to this trend, emphasizing the market's expansion linked to neurological ailments.

The anticipated expansion of the neurovascular catheter market is driven by the burgeoning aging population. This demographic shift, characterized by a rising proportion of elderly individuals, emphasizes the critical role of neurovascular catheters in addressing neurological issues prevalent in aging demographics. As highlighted in the World Health Organization's October 2022 report, the global populace aged 60 and above is expected to reach 1.4 billion by 2050, doubling to 2.1 billion by 2050. Consequently, the market's growth is inexorably linked to the increasing demands of an aging demographic seeking neurological care.

Technological innovation stands as a pivotal trend driving the evolution of the neurovascular catheters market. Market leaders are vigorously innovating to fortify their market position. Notably, Bendit Technologies' introduction of the Bendit21 steerable micro catheter in February 2022 showcases significant advancements. This catheter's three-dimensional clinician-controlled movement and its ability to access intricate vascular sites, simplifying complex catheterization processes, signifies a breakthrough in achieving swift and precise results.

Companies within the neurovascular catheter market focus on the development of balloon guide catheters (BGC). A case in point is EOSolutions Corporation's launch of the 'Dr. Banner balloon guide catheter (BGC)' in May 2023. This innovative device boasts an impressive inner diameter of 0.091, superior distal trackability, a super-compliant polyurethane balloon, and enhanced proximal stability. These features position the BGC as a superior tool for neurovascular procedures, underscoring the market's focus on cutting-edge product development.

In January 2022, VitalPath, a US-based manufacturer of catheters and catheter shafts acquired Modern Catheter Technologies for an undisclosed amount. The acquisition will increase VitalPath's capacity for growth, bringing its entire manufacturing footprint to more than 80,000 square feet, including 35,000 square feet of ISO 7 and 8 cleanroom space. Modern Catheter Technologies is a US-based manufacturer of micro catheters used in neurovascular and electrophysiology.

Major companies operating in the neurovascular catheters market report are Medtronic plc, Stryker Corporation, Integra Life Sciences Holdings Corporation, Penumbra Inc., Johnson & Johnson, Terumo Corporation, Acandis GmbH, Biomerics LLC, Zeus Industrial Products Inc., Spiegelberg GmbH & Co. KG, Zimmer Biomet Holdings Inc., Concentric Medical lnc., Raumedic AG, Olympus Corporation, Braun Melsungen AG, Integer Holdings Corporation, Imperative Care Inc., Balt LLC, DePuy Synthes Companies, Creganna-Tactx Medical, Phenox GmbH, Teleflex Incorporated, Microvention Inc., Boston Scientific Corporation, Cook Medical LLC, Cordis Corporation, Merit Medical Systems Inc., NeuroSigma Inc., Rapid Medical Ltd., Surtex Instruments Limited, Vascular Solutions Inc., W. L. Gore & Associates Inc., Abbott Laboratories.

North America was the largest region in the neurovascular catheters market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global neurovascular catheters market during the forecast period. The regions covered in the neurovascular catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the neurovascular catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key types of neurovascular catheters include micro catheters, balloon catheters, access catheters, and embolization catheters. Micro catheters, with diameters typically ranging from 0.70 to 1.30mm, are utilized in intricate endovascular procedures for guidewire support, navigating complex vasculature, delivering therapeutic embolic materials, injecting contrast media, and performing other minimally invasive operations. These catheters find applications in treating conditions such as embolic stroke, brain aneurysms, arteriovenous malformations, and more. They are used across various healthcare settings including hospitals, clinics, ambulatory surgical centers, and diagnostic facilities.

The neurovascular catheters market research report provides neurovascular catheters market statistics, including neurovascular catheters industry global market size, regional shares, competitors with a neurovascular catheters market share, detailed neurovascular catheters market segments, market trends and opportunities, and any further data you may need to thrive in the neurovascular catheters industry. This neurovascular catheters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The neurovascular catheters market consists of sales of occlusion catheters, stent delivery catheters, diagnostic catheters, guiding catheters, and distal access catheters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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