The global neurovascular catheters market size is anticipated to reach USD 4.6 billion by 2027, expanding at a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for minimally invasive neurosurgical procedures, rising prevalence of stroke and brain aneurysm, and technological advancements are driving the market.
Stroke is the most common cause of death, followed by heart and cancer diseases worldwide. For instance, according to WHO, in 2016, 15.2 million deaths of the 56.9 million deaths worldwide were due to stroke. Acute Ischemic Stroke (AIS) is the most common form of stroke caused due to reduced blood supply to the brain, making brain cells to die. For instance, according to the U.S. CDC, 87.0% of strokes are classified as ischemic strokes, with U.S. being the most commonly affected country.
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Various initiatives are undertaken by the government worldwide to prevention stroke. For instance, the Well-Integrated Screening and Evaluation for Women Across the Nation (WISEWOMAN) program was started by the U.S. CDC in three states: North Carolina, Massachusetts, and Arizona, to minimize the risk of stroke and other neurovascular diseases in women by promoting a healthy lifestyle.
Further key findings from the study suggest:
• By type, embolization neurovascular catheters dominated the neurovascular catheters market in 2019 owing to increasing prevalence of conditions, such as brain aneurysms, nose bleeding, and arteriovenous malformations
• Based on application, the others segment is expected to expand at the highest CAGR during the forecast period owing to rising number of patients suffering from neurovascular diseases and conditions, such as carotid artery stenosis and atherosclerosis
• Based on end use, hospitals dominated the market in 2019 owing to factors, such as rising prevalence of acute ischemic stroke, growing awareness among population, and increasing government funding
• North America dominated the market with the largest share in 2019 owing to rising incidence of hemorrhagic stroke and brain aneurysm and increasing R&D investment
• Some of the key players operating in the neurovascular catheters market are Medtronic; Stryker; phenox GmbH; Penumbra, Inc.; Integer holdings Corporation; Terumo Corporation; Integra LifeSciences Corporation; Biomerics; Acandis GmbH; and Spiegelberg GmbH & Co. KG.
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Grand View Research has segmented the global neurovascular catheters market on the basis of type, application, end use, and region:
Neurovascular Catheters Type Outlook (Revenue, USD Million, 2016 - 2027)
• Microcatheters
• Balloon Catheters
• Access Catheters
• Embolization Catheters
• Others
Neurovascular Catheters Application Outlook (Revenue, USD Million, 2016 - 2027)
• Embolic Stroke
• Brain Aneurysm
• Arteriovenous Malformations
• Others
Neurovascular Catheters End-use Outlook (Revenue, USD Million, 2016 - 2027)
• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Diagnostic Centers
Neurovascular Catheters Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea
• Latin America
o Mexico
o Brazil
o Argentina
o Colombia
• Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.