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The global neurovascular catheters market size was at USD 3.43 Billion in 2022 and is expected to reach USD 6.31 Billion in 2032

NEW YORK , NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- The global neurovascular catheters market had a value of USD 3.43 Billion in 2022 and is projected to reach USD 6.31 Billion by 2032, with a forecasted revenue CAGR of 7%. The market growth is driven by various factors, such as an increase in stroke and aneurysm cases, a rising preference for minimally invasive surgery, and technological advancements in neurovascular catheters. Furthermore, the growing prevalence of hypertension, obesity, and diabetes, which are major risk factors for stroke and aneurysm, is expected to drive market revenue growth.

Neurovascular catheters are utilized for treating various neurovascular conditions, including ischemic stroke, hemorrhagic stroke, and brain aneurysms. The incidence of these ailments is expected to increase as the world's population ages. According to the World Health Organization (WHO), stroke is the second leading cause of death and the third leading cause of disability worldwide, accounting for approximately 11% of all deaths.

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Segments Covered in the Report
The neurovascular catheters market is segmented based on Type Outlook, Application Outlook, End-Use Outlook, and Regional Outlook.
Under Type Outlook, the market is segmented into five categories: Microcatheters, Balloon Catheters, Access Catheters, Embolization Catheters, and Others. These types of catheters are used in various neurovascular procedures and are expected to contribute to the market growth during the forecast period.

The Application Outlook segment includes Embolic Stroke, Brain Aneurysm, Arteriovenous Malformations, and Others. These applications use neurovascular catheters for the treatment of various neurovascular conditions, and the market growth for these applications is expected to increase due to the growing prevalence of such conditions.

The End-Use Outlook segment covers four categories: Hospitals, Clinics, Ambulatory Surgical Centers, and Diagnostic Centers. The increasing demand for neurovascular catheters in hospitals and clinics is expected to drive the growth of the market during the forecast period.

In terms of Regional Outlook, the neurovascular catheters market is segmented into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to have the largest market share due to the presence of major market players and the rising prevalence of neurovascular conditions. The Asia Pacific region is expected to have the fastest growth rate during the forecast period due to the growing healthcare infrastructure and increasing awareness about neurovascular diseases.

In summary, the neurovascular catheters market is segmented based on Type Outlook, Application Outlook, End-Use Outlook, and Regional Outlook. The market growth is expected to increase due to the rising prevalence of neurovascular conditions and the increasing demand for neurovascular catheters in hospitals and clinics.

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Strategic development:
1. Product launches and approvals: Key players are focusing on launching new products and obtaining approvals from regulatory authorities to expand their product portfolio. For instance, in March 2022, Medtronic plc received FDA approval for its Pipeline Flex embolization device for the treatment of unruptured intracranial aneurysms.

2. Collaborations and partnerships: Companies are forming collaborations and partnerships to strengthen their market position and increase their reach. For example, in May 2021, Stryker Corporation entered into a partnership with neurovascular technology company Cerenovus to advance ischemic stroke treatment.

3. Mergers and acquisitions: Companies are acquiring other players to increase their market share and expand their product offerings. In February 2021, Boston Scientific Corporation acquired a medical device company, Preventice Solutions, to expand its cardiac monitoring and diagnostic capabilities.

4. Investments in research and development: Companies are investing in research and development activities to develop innovative products and technologies to enhance their market presence. For instance, in June 2021, Penumbra, Inc. announced the launch of its latest stroke technology, the Penumbra JET 7X System, which offers improved clot removal in stroke patients.

Competitive Landscape:
The global neurovascular catheters market is highly competitive, with key players focusing on product development, partnerships, and acquisitions to expand their market presence. Some of the major players in the market include Stryker Corporation, Medtronic plc, Boston Scientific Corporation, Johnson & Johnson, Terumo Corporation, Penumbra, Inc., MicroPort Scientific Corporation, Integra LifeSciences Holdings Corporation, Acandis GmbH, and ASAHI INTECC Co., Ltd.

Stryker Corporation is one of the leading players in the market, with a strong product portfolio of neurovascular devices, including catheters, stents, and coils. The company is focusing on collaborations and partnerships to expand its product offerings and strengthen its market position.

Medtronic plc is another major player in the neurovascular catheters market, offering a range of neurovascular devices for the treatment of stroke and aneurysm. The company is focusing on product launches and approvals to expand its product portfolio and increase its market share.
Boston Scientific Corporation is also a key player in the market, with a range of neurovascular catheters and stents for the treatment of various neurovascular conditions. The company is focusing on acquisitions to expand its product offerings and strengthen its market position.

Other major players in the market include Johnson & Johnson, Terumo Corporation, Penumbra, Inc., MicroPort Scientific Corporation, Integra LifeSciences Holdings Corporation, Acandis GmbH, and ASAHI INTECC Co., Ltd. These players are also focusing on product development and partnerships to expand their market presence and provide better treatment options for patients with neurovascular conditions.

Overall, the neurovascular catheters market is expected to witness significant growth in the coming years, driven by the increasing prevalence of neurovascular conditions and the growing demand for minimally invasive surgical procedures. The key players in the market are expected to continue their strategic developments to gain a competitive edge and expand their market share.

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In conclusion, the global neurovascular catheters market is highly competitive, with a few major players dominating the market. These companies are actively involved in developing new technologies and products, investing in research and development, and engaging in strategic partnerships and collaborations to maintain their market share and drive revenue growth.

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