Neurovascular Catheters Market | SWOT Analysis of Major Market Segments

A catheter is a tube-shaped medical device which is inserted into body cavities for diagnostic or therapeutic purposes. A neurovascular catheters is used to drain or withdraw unwanted fluid from neurovascular organs (brain, carotid artery, intracranial spaces, etc.), administer medications to the neurovascular organs, and diagnose several neurovascular diseases (brain aneurysms, carotid artery disease, etc.).

The global Neurovascular Catheters Market is driven by prevalence of neurovascular disorders, neurovascular disease diagnosis and treatment rate, competitive scenario of the key players, pricing strategy, and global regulatory scenario. The neurovascular catheters market is likely to face challenges such as biocompatibility of catheters, risk of catheter blockage in the neurovascular organs, and detachment of coating from the catheter. R&D investments and technological advancements are likely to boost the growth of the global neurovascular catheters market.

Based on catheter type, the global neurovascular catheters market can be segmented into microcatheter, balloon catheter, access catheters, embolization catheters, and others. In terms of material, the global neurovascular catheters market can be classified into fluorinated ethylene propylene, liquid crystal polymer, nylon, polyether block amide, polyether ether ketone, and others. The neurovascular catheter is primarily used to prevent embolic stroke. Based on application, the global neurovascular catheter market can be categorized into neurovascular embolic stroke, aneurysms, vertebral and sinus fistulas, arterial vasospasm, and others. In terms of end-user, the global neurovascular catheters market can be divided into hospitals, ambulatory surgical centers, independent clinics, and others.

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Geographically, the global neurovascular catheters market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the Centers for Disease Control and Prevention (CDC), approximately 9 per 100,000 persons per year are affected with brain aneurysms in the U.S. Over 10 per 100,000 people per year suffer from brain aneurysm in Europe. Apart from brain aneurysms, stroke is one of the leading causes of death in North America and Europe. According to the American Stroke Association, nearly 800,000 people suffer and 130,000 million people die from stroke in the U.S. each year. Incidence of stroke in Europe is higher than in North America.

According to the World Health Organization (WHO), around 1 million people suffer and 150,000 million people die from stroke in Europe each year. North America and Europe held significant shares of the global neurovascular catheters in 2016, owing to high rate of neurovascular diseases in the regions, high diagnosis and treatment rate of neurovascular disorders, developed medical infrastructure, and availability of advanced neurovascular catheters. Asia Pacific is anticipated to hold the third largest share of the global neurovascular catheters market. The neurovascular catheters market in the region is expected to expand at the fastest CAGR during the forecast period due to large neurovascular patient pool, high diagnostic and treatment rate of neurovascular disorders, rise in adoption of neurovascular catheters, and presence of local players. Latin America and Middle East & Africa are expected to be small markets for neurovascular catheters during the forecast period.

Prominent players in the global neurovascular catheters market include Stryker, Medtronic (a Johnson and Johnson company), Integer Holdings Corporation, DePuy Synthes (a Johnson and Johnson company), Integra LifeSciences Corporation, Biomerics, Zeus Industrial Products, Inc., RAUMEDIC AG, and Concentric Medical, Inc.

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