Neurovascular Catheters Global Market Report 2023
Major players in the neurovascular catheters market are Medtronic plc., Stryker Corporation, Integra Life Sciences Holdings Corporation, Penumbra Inc., Johnson & Johnson, Terumo Corporation, Acandis GmbH, Biomerics LLC, Zeus Industrial Products Inc.
New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Neurovascular Catheters Global Market Report 2023" - https://www.reportlinker.com/p06479844/?utm_source=GNW
, Spiegelberg GmbH & Co. KG, Zimmer Biomet, Concentric Medical, Raumedic AG, Olympus Corporation, and Braun Melsungen AG.
The global neurovascular catheters market is expected to grow from $3.85 billion in 2022 to $4.22 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neurovascular catheters market is expected to reach $6.06 billion in 2027 at a CAGR of 9.4%.
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.
Neurovascular catheters are medical devices used to treat neurological issues and diseases by providing access to neurovascular organs and the delivery of embolic coils and thrombectomy devices. They are used in minimally invasive therapies to treat blood vessel disorders in the brain, where catheters are manually inserted into the patient’s femoral or brachial arteries and guided to the brain to provide treatment that eliminates cutting into the patient’s skull and brain tissue.
North America was the largest region in the neurovascular catheters market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in neurovascular catheters report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of neurovascular catheters are micro catheters, balloon catheters, access catheters, embolization catheters, and others. Micro catheters are small 0.70-1.30mm diameter catheters used in complex endovascular operations for guidewire support, exchanges, accessing distal anatomy, crossing lesions, delivering therapeutic embolic, injecting contrast media, and performing other procedures and other minimally invasive procedures to deliver gadgets and navigate the human body’s complicated vasculature. The major applications are embolic stroke, brain aneurysm, arteriovenous malformations, and others that are used in hospitals, clinics, ambulatory surgical centers, and diagnostic centers.
The rise in the incidence of neurological conditions is expected to propel the growth of the neurovascular catheters market going forward.Neurological problems are diseases that affect the brain as well as the nerves throughout the body and the spinal.
Neurovascular catheters are used to diagnose and treat neurological conditions by interventions in the brain and intracranial areas during neurovascular procedures such as neurovascular organs. For instance, according to the report published World Health Organization in 2022, a Switzerland-based organization for public health, one in every four people over the age of 25 is anticipated to have a stroke during their lifetime, whereas every year, 13.7 million people are estimated to have their first stroke, with 5.5 million of them dying as a result. Furthermore, nearly 15 million people worldwide are affected by hemorrhagic stroke, a condition in which a ruptured blood vessel causes bleeding inside the brain. Therefore, the rise in the incidence of neurological conditions drives the growth of the neurovascular catheters market.
Technological innovation is a key trend gaining popularity in the neurovascular catheters market.Major companies operating in the neurovascular catheters market are innovating new products to strengthen their position in the market.
For instance, in February 2022, Bendit Technologies, an Israel-based manufacturer innovative catheters introduced Bendit21, steerable micro catheter for treating symptomatic internal carotid artery aneurysm.The Bendit21 steerable micro catheter’s three-dimensional clinician-controlled movement and independent control of catheter tip deflection are intended to enable access to difficult-to-reach vascular sites such as coronary, peripheral, and neurovasculature.
Additionally, it simplifies the difficult catheterization process into a single step, allowing for speedy and precise results.
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.
The countries covered in the neurovascular catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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 resale along the supply chain, either further along the supply chain or as part of other products.
The neurovascular catheters market research report is one of a series of new reports that 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.
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