The global neurovascular catheters market size was valued at USD 3.01 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 7.19% from 2023 to 2030. The increasing prevalence of neurological conditions such as brain aneurysms and stroke, the adoption of unhealthy lifestyle, increasing awareness among the population about the treatment of neurological conditions, increasing disposable income, and new product launch by the key market players are some of the prime factors driving the market.
Minimally invasive surgeries are gaining popularity owing to reduced risk and trauma associated with these procedures. Strokes, or hemorrhage, are the result of damaged, blocked or injured blood vessels, which can cause bleeding or circulation problems in the brain. Open or minimally invasive surgical techniques are used for the treatment of blocked blood vessels of the brain. To remove the blockage from the brain, minimally invasive endovascular surgery techniques are preferred. Neurovascular catheters coupled with other advanced devices are preferred as minimally invasive techniques for the treatment of aneurysm, stroke, and other blood vessel conditions in the brain. This minimally invasive technique offers quicker recovery and less stress on the body as compared to open surgery.
Moreover, minimally invasive neurovascular surgeries involve fewer interruptions of muscles and tendons, making the procedure more natural and easier. Certain benefits offered by these catheters, such as easy access to intracranial space, minimal invasion, and simplification of complex procedures owing to advanced designs & features of catheters, make wound closure easier as well as enable faster healing as compared to traditional, open surgery. Increasing concern for more esthetic and natural appearance in all age groups and less amount of blood loss during minimally invasive surgeries are among the major market growth drivers. Such procedures will further help lower trauma and facilitate quicker recovery than invasive procedures. Thus, neurovascular catheters involve less amount of blood loss and quicker recovery time, which is expected to increase the demand for minimally invasive neurovascular procedures.
A slew of potential new technologies, mergers and acquisitions in the neurovascular space are on the horizon. For instance, in October 2022, the Medtronic Neurovascular Co-Lab Platform was created to help speed much-needed innovation in stroke treatment and care. Their community platform aims to transform ideas and technology into breakthrough global medicines by giving entrepreneurs and physicians with insight and care, and, most importantly, ensuring that innovation reaches as many people as possible around the world. As a result, the availability of new treatment choices and an expanding variety of tactics will drive up demand for neurovascular catheters in the coming years.
Embolization catheters held the largest market share of around 27.62% in 2022. During a catheter embolization procedure, drugs or synthetic substances called embolic agents are injected through a catheter into selected blood vessel to block blood flow feeding the tumor or malformation. Neurovascular embolization catheters used to stop or control abnormal bleeding can close off vessels supplying blood to a tumor or to treat aneurysms. They are a minimally invasive treatment and offer better control over bleeding than open surgeries. Thus, increasing demand for embolization catheters in the treatment of aneurysms is expected to boost the market.
Embolization catheters offered by Biomerics are used to occlude or block blood flow to an area of the body. For instance, in May 2022, Biomerics launched a new division called Biomerics Imaging Guided Intervention (IGI). The IGI Division of Biomerics offers innovative image production and processing technologies for real-time minimally invasive advanced surgery operations. Biomerics IGI was established to link Biomerics interventional catheter technology with its imaging and guidance technologies in order to allow these systems which is anticipated to boost the segment growth in near future.
The microcatheter segment is expected to expand at the highest CAGR of 8.0% during the forecast period. Microcatheters are small, hollow tubes inserted into blood vessels used in neurovascular procedures. They are intended to deliver various neurovascular devices to the brain site and are used in numerous diagnostic & therapeutic cranial procedures. These catheters are sophisticated devices and designed with several properties, such as softness, trackability, hydrophilic coating, & stability. Increasing number of growth strategies by key market players such as product launch, mergers & acquisitions, and others along with the rising prevalence of acute ischemic stroke will drive the segment growth in near future.
For instance, in March 2022, Guerbet announced that it will launch a new line of guidewires, resulting in a broad range of embolization solutions and interventional imaging available and more than double its line of microcatheter. Furthermore, in March 2021, Varian announced a fresh investment in Bend It Technologies Ltd., an Israeli medical device firm that is developing Bendit steerable microcatheters for use by interventionalists performing minimally invasive peripheral vascular treatments. They are capable of delivering diagnostic, embolic, or therapeutic materials into the vascular. Thus, due to such factors segment is expected to grow in the near future.
The brain aneurysms segment held the largest market share of around 32.79% in 2022. Brain aneurysms, also called intracranial aneurysms, are leaks or ruptured blood vessels, causing bleeding in the brain. Factors contributing to the formation of intracranial aneurysms are hypertension, smoking, injury or trauma to blood vessels, a complication from a few types of blood infections, and genetic predisposition. Thus, a global increase in the prevalence of brain aneurysms is anticipated to boost the market in the forecast period.
The treatment of an aneurysm includes surgical clipping, medical therapy, endovascular therapy, or coiling without or with adjunctive devices. Some of the FDA-approved microcatheters available for the treatment of cerebral aneurysms are the JET Family of Reperfusion Catheters System (Penumbra) and CODMAN ENTERPRISE 2 (Johnson & Johnson). These devices can recover or destroy blood clots in aneurysms, thus, boosting the market growth.
The others segment is expected to grow at the highest CAGR during the forecast period. Other application segment consists of Moyamoya disease, carotid artery stenosis, and cerebral atherosclerosis. Moyamoya disease is a rare, cerebral disorder caused by obstructed arteries at the base of the brain. The condition may cause a recurrent transient ischemic attack, stroke, or bleeding in the brain. According to NORD, Moyamoya disease incidence is higher in Asian countries, such as Japan, Korea, and China, than Europe or North America.
Carotid artery stenosis, also called carotid artery disease, is a blockage or narrowing of carotid arteries. This usually results in the build-up of fatty deposits called plaque within the arteries, which is called atherosclerosis. It can get worse over a period to completely block the artery, which may lead to stroke. Common risk factors include smoking, high blood pressure, age, diabetes, obesity, and an unhealthy lifestyle. Cerebral or intracranial arteriosclerosis is caused by hardening and thickening of arterial walls in the brain. It can lead to transient ischemic or hemorrhagic strokes, or even long-term motor impairments. Thus, the increasing prevalence of the abovementioned neurovascular disorders is anticipated to drive the market.
The hospital segment held the largest market share of around 55.53% in 2022. The growth of this segment can be attributed primarily to the increasing patient pool suffering from neurovascular disorders, such as ischemic & hemorrhagic stroke, brain aneurysm, Traumatic brain injury (TBI), and Arteriovenous Malformation (AVM). For instance, according to World Stroke Organization, throughout their lifetime, 1 in 4 persons over the age of 25 years is expected to experience a stroke. Every year, 13.7 million people are expected to experience their first stroke, and 5.5 million of them may die. Without suitable action, it appears that the annual death toll will increase to 6.7 million.
Moreover, over 15 million people are living with the impact of hemorrhagic stroke globally. Furthermore, the availability of technologically advanced neurovascular catheters, coupled with favorable reimbursement policies, can further enhathe nce market growth in hospitals during the forecast period. For instance, Medtronic offers comprehensive services to secure and maintain coverage & payment for various neurovascular devices.
In addition, the increasing number of patients being admitted to hospitals due to surgeries, therapies, and treatments is projected to favor the neurovascular catheters industry. Thus, subsequent increase in number of patients across the globe, launch of technologically advanced products, and favorable reimbursement policies are leading to a growing demand for hospital treatments.
Ambulatory surgical centers are expected to expand at the highest CAGR during the forecast period. Ambulatory Surgical Centers (ASCs) offer several advantages to patients, including shorter procedure time and same-day discharge, as compared to hospitals. Most neurosurgeries can now be performed at ASCs, as surgical procedures can be more advanced and less invasive. Since ASCs can be less expensive than hospitals, they provide significant cost savings to patients. Due to these reasons, ASCs have been growing rapidly.
Thus, the growth of the ASC segment can be attributed to shorter procedure time and advancements in minimally invasive surgical techniques. An increase in the number of ASCs and other healthcare modern facilities is expected to drive the segment. For instance, according to ASC Becker, the total number of Medicare-certified ASCs in the U.S. is nearly 5,700. Thus, an increasing number of ASCs and rising awareness about the availability & advantages of other medical facilities are expected to help this segment grow over the forecast period.
North America dominated the market with the share of 33.23% in 2022 owing to the presence of key manufacturers such as Penumbra, Inc., Stryker Corporation, Merit medical systems, Inc., and Johnson & Johnson in the region. For instance, in February 2022, J&J's Cerenovus dedicates USD54.19 million to the development of stroke devices at an Irish research facility. Additionally, in July 2021, Rist Selective Radial Access Catheter and the Rist 079 Radial Access Guide Catheter, a first-of-its-kind radial access catheter system, have been licensed by Health Canada for use by Medtronic Canada ULC, a division of Medtronic plc.
This gives Medtronic Canada ULC better access to patients in need of interventional neurovascular therapy. Interventional devices can be inserted into the neurovasculature, peripheral, and coronary with the Rist 079 Radial Access Guide Catheter. It is the first catheter created and approved expressly to travel along the wrist's radial artery pathway. Furthermore, rising prevalence of neurological disorders, and increasing demand for minimally invasive surgical procedures are driving the market growth in this region.
Furthermore, increased R&D expenditure by manufacturers and increased government efforts are significantly contributing to regional market growth. Medtronic Neurovascular Clinical Affairs, for example, is financing a clinical trial to evaluate the safety and efficacy of the 'Pipeline Vantage Embolization Device' with Shield Technology in the treatment of intracranial aneurysms within the specified indication for usage.
Also, recently in April 2021, the Society of Neurointerventional Surgery (SNIS) and NeuroPoint Alliance (NPA) are collaborated with the Society of Vascular and Interventional Neurology (SVIN) to the NeuroVascular Quality Initiative-Quality Outcomes Database (NVQI-QOD). The strategic alliance marks a major step forward for NeuroVasc Technologies in bringing a full neurovascular platform to market.
Asia Pacific is expected to expand at the highest CAGR of 8.01% during the forecast period due to the factors such as rising target disease burden, technological advancements, increasing prevalence of neurological disorders.Furthermore, factors such as the presence of key players in the region, rising healthcare expenditure are also contributing towards the region growth. For instance, in January 2022, MicroPort NeuroTech Limited's independently created Diveer Intracranial Balloon Catheter has acquired marketing approval from China's National Medical Products Administration (NMPA). It is a specialized rapid-exchange intracranial balloon catheter indicated for the non-acute treatment of symptomatic intracranial atherosclerotic stenosis (ICAS). Thus, in turn is anticipated to boost the market growth in the near future.
Key market players are focusing on the launch of innovative types of medical devices, growth strategies, and technological advancements. For instance,in April 2022, MicroVention, Inc., a Terumo Corporation wholly owned subsidiary, announced the completion of its first enrollment in STRAIT, a multi-center, prospective observational EU study to evaluate the performance and safety of the BOBBY balloon guide catheter for endovascular treatment of acute ischemic stroke.
In North America and Europe, the BOBBY Balloon Guide Catheter is currently approved. It was designed to improve compatibility and navigability with the SOFIA Plus 6Fr Aspiration Catheter while also simplifying balloon preparation. These advancements in the neurovascular catheters market are anticipated to boost the market growth during the forecast period. Some of the key players in the global neurovascular catheters market are:
Integer Holdings Corporation
Johnson & Johnson Services, Inc.
Integra LifeSciences Corporation
Spiegelberg GmbH & Co. KG
Market size value in 2023
USD 3,219.13 million
Revenue forecast in 2030
USD 5.23 billion
CAGR of 7.19% from 2023 to 2030
Volume in 2023
14 million Unit
Volume forecast in 2030
23 million Unit
CAGR of 7.09% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Revenue in USD million, volume in million unit, and CAGR from 2023 to 2030
Revenue, competitive landscape, growth factors, and trends
Type, application, end-use, region
North America; Europe; Asia Pacific; Latin America; MEA
U.S.; Canada; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait
Key companies profiled
Medtronic; Stryker; Terumo Corporation; Integer Holdings Corporation; Penumbra, Inc.; Johnson & Johnson Services, Inc.; Integra LifeSciences Corporation; Acandis GmbH; Spiegelberg GmbH & Co. KG
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This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global neurovascular catheters market report on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Million; Volume, Unit, 2018 - 2030)
Application Outlook (Revenue, USD Million; Volume, Unit, 2018 - 2030)
End Use Outlook (Revenue, USD Million; Volume, Unit, 2018 - 2030)
Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; Volume, Unit, 2018 - 2030)
Middle East and Africa (MEA)
b. The global neurovascular catheters market was estimated at USD 3.01 billion in 2022 and is expected to reach USD 3,219.13 million in 2023.
b. The global neurovascular catheters market is expected to grow at a compound annual growth rate of 7.19% from 2023 to 2030 to reach USD 5.23 billion by 2030.
b. North America dominated the neurovascular catheters market with a share of 33.23% in 2022. This is attributable to the increasing government initiatives, rising demand for minimally invasive surgical procedures and technological advancement by the key market players in the region.
b. Some key players operating in the neurovascular catheters market include Medtronic, Stryker, phenox GmbH, Penumbra, Inc., Integer Holdings Corporation, Terumo Corporation, Integra LifeSciences Corporation, Biomerics, Acandis GmbH, and Spiegelberg GmbH & Co. KG.
b. Key factors that are driving the neurovascular catheters market growth include the increasing prevalence of neurological conditions such as brain aneurysms and stroke, adoption of unhealthy lifestyles, increasing disposable income, and new product launch by the key market players.
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