What is the global market size of Neurovascular Catheters Market?

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).

Neurovascular Catheters Market Size

Neurovascular Catheters Market Insights

Neurovascular Catheters Market size was valued at USD 3.25 billion in 2023 and is poised to grow from USD 3.48 billion in 2024 to USD 6.08 billion by 2032, growing at a CAGR of 7.2% during the forecast period (2025-2032).

Some of the key market-driving factors include the rising prevalence of neurological conditions like brain aneurysms and stroke, the adoption of an unhealthy lifestyle, rising public awareness of neurological condition treatment, rising disposable income, and the introduction of new products by key market players. The rise in neurovascular illnesses and advancements in neurovascular catheter technology are two factors that are expected to be responsible for market growth. The estimated global incidence of subarachnoid haemorrhage (SAH), for instance, is 6.67 per 100,000 persons, according to a March 2022 Frontiers article. SAH affects over 500,000 people annually, with low- and middle-income nations home to nearly two-thirds of those affected.

Additionally, market expansion is anticipated throughout the forecast period due to technological developments in neurovascular access catheters. For instance, in February 2022, CERENOVUS, a young business that specialises in neurovascular care and is a part of the Johnson & Johnson Medical Device Companies, introduced the EMBOGUARD, a next-generation balloon guide catheter to be used in endovascular procedures, including those for patients with acute ischemic stroke. The market should expand over the study period as a result of research studies and comparisons of the various neurovascular access catheters. For instance, a September 2022 publication in PubMed said that neurovascular therapies could be performed through both the femoral artery and the radial artery using an access catheter with an inner diameter of 0.096 inches. It had an excellent technical success rate and a low percentage of issues during the process.

US Neurovascular Catheters Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

Neurovascular Catheters Market size was valued at USD 3.25 Billion in 2023 and is poised to grow from USD 3.48 Billion in 2024 to USD 6.07 Billion by 2032, growing at a CAGR of 7.20% during the forecast period (2025-2032).

The major challenge in the neurovascular catheters market is the high cost of procedures. Neurovascular procedures are complex and require specialized equipment, skilled healthcare professionals, and significant hospital resources. The high cost of procedures can limit their accessibility to patients, particularly in developing countries, where healthcare infrastructure and resources are limited. 'Medtronic plc (Ireland)', 'Stryker Corporation (US)', 'Terumo Corporation (Japan)', 'Penumbra, Inc. (US)', 'MicroPort Scientific Corporation (China)', 'Johnson & Johnson (US)', 'Merit Medical Systems, Inc. (US)', 'Integer Holdings Corporation (US)', 'Teleflex Incorporated (US)', 'Penumbra, Inc. (US)', 'Rapid Medical Ltd. (Israel)', 'MicroVention, Inc. (US)', 'Acandis GmbH (Germany)', 'Balt Extrusion (France)', 'Covidien (US)', 'Boston Scientific Corporation (US)', 'Cook Medical LLC (US)', 'Phenox GmbH (Germany)', 'Stryker Neurovascular (US)', 'Balt USA LLC (US)', 'Metactive Medical, Inc. (US)', 'Amplitude Surgical SA (France)'

The rising prevalence of neurological disorders such as stroke, aneurysms, and arteriovenous malformations (AVMs) is driving demand for neurovascular catheters. These catheters are used to diagnose and treat these conditions, and as the prevalence of these disorders increases, so too does demand for neurovascular catheters.

The increasing incidence of neurological disorders, such as stroke, aneurysms, and arteriovenous malformations, is driving the demand for neurovascular catheters. According to the World Health Organization (WHO), stroke is the second leading cause of death globally, and the demand for effective treatment options for neurological disorders is increasing.

Due to the presence of significant manufacturers in the area, including Penumbra, Inc., Stryker Corporation, Merit Medical Systems, Inc., and Johnson & Johnson, North America had the lion's share of the market in 2022 (33.23%). For instance, J&J's Cerenovus would invest USD 54.19 million in an Irish research facility's development of stroke devices in February 2022. The Rist Selective Radial Access Catheter and the Rist 079 Radial Access Guide Catheter, a groundbreaking radial access catheter system, will also be available in July 2021 thanks to a Health Canada licence obtained by Medtronic Canada ULC, a division of Medtronic