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The Neurovascular Access Catheters Market is expected to register a CAGR of 4.9% during the forecast period. Neurovascular catheters are used to drain or withdraw unwanted fluid from neurovascular organs such as brain, carotid artery, intracranial spaces, etc., to administer medications to the neurovascular organs or to diagnose neurovascular diseases such as brain aneurysms, carotid artery disease, etc. Neurovascular access catheters are used to locate and to insert catheter or medical device and fluid into human body and these catheters are customized, designed and molded into distinct access configurations as per requirement from end use. Neurovascular access catheters are of different types such as single lumen, double lumen and multiple lumen catheters among them multiple lumen is of great importance owing to their enhanced versatility and visualization.
Neurovascular catheter is mainly used for preventing embolic stroke and acts as a guide wire for performing surgical procedure. According to Brain Aneurysm Foundation, approximately 500,000 deaths worldwide each year are caused by brain aneurysms, and half the individuals are younger than 50 years of age. The annual rate of rupture is approximately 8-10 individuals per 100,000, or about 30,000 people in the United States. Increasing prevalence of neurovascular disorders like ischemic stroke, stenosis, brain aneurysm, and other illnesses, investments in research and development, technological advancements in neurovascular catheters are the key driving factors in neurovascular access catheters market.
Key Market Trends
Multiple Lumen Catheters Segment is Expected to Hold a Major Market Share in the Neurovascular Access Catheters Market
Multiple Lumen Catheters provides multiple functions and can serve as inflation ports, fluid-transfer channels, guidewire access points, or even steering lumens and can also be braided or coiled for additional performance. According to Brain Aneurysm Foundation, approximately 500,000 deaths worldwide each year caused by brain aneurysms, and half the individuals are younger than 50 years of age.
Multiple lumen catheters segment hold a significant market share in the neurovascular access catheters market and is anticipated to show similar trend over the forecast period due to enhanced versatility and visualization. Increasing prevalence of neurovascular disorders like ischemic stroke, stenosis, brain aneurysm, and other illnesses and technological advancements in neurovascular catheters are the key driving factors in the multiple lumen catheters segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global neurovascular access catheters market due to increasing prevalence of neurovascular disorders like ischemic stroke, stenosis, brain aneurysm and other illnesses, growing adoption of neurovascular catheters, high diagnostic rate in this region.
As per Brain Aneurysm Foundation, about 6.5 million people in the United States suffer with brain aneurysm, or 1 in 50 people among these women are more likely to suffer with brain aneurysm than men (3:2 ratio). Furthermore, increasing investments in research and development and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Neurovascular Access Catheters Market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Stryker Corporation, Medtronic Plc, DePuy Synthes (Johnson & Johnson), Integer Holdings Corporation, Biomerics, Penumbra, Inc, Zeus Industrial Products, Inc, Imperative Care Inc.
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