Market Trends of Neurovascular Access Catheters Industry
This section covers the major market trends shaping the Neurovascular Access Catheters Market according to our research experts:
Multiple Lumen Catheters Segment is Expected to Hold a Notable Market Share in the Neurovascular Access Catheters Market Over the Forecast Period
A multi-lumen catheter is a single catheter that has multiple internal channels (called lumens). Each lumen can be connected to a distinct intravenous infusion, and the fluid will normally emerge at a slightly different place along the catheter. The multi-lumen catheter market is expected to expand during the forecast period due to factors such as the rising prevalence of neurovascular disorders such as ischemic stroke, stenosis, brain aneurysm, and other illnesses, as well as technological advancements in neurovascular catheters. For instance, as per the Global Stroke Fact Sheet 2022, 12,224,551 cases of ischemic stroke were reported in 2022 across the globe. As per the same source, there are over 12.2 million new strokes each year. Globally, one in four people over age 25 will have a stroke in their lifetime. Hence, the rise in cases of ischemic stroke is anticipated, utilizing the multi-lumen catheter for the treatment and thereby promoting the market growth.
Additionally, an increase in product launches, strategic collaborations, and partnerships by the major players is expected to promote market growth. For example, Zeus Industrial Products added PTFE Sub-Lite-Wall multi-lumen tubing to its line of products in February 2022.It has ultrathin walls, is certified USP Class VI biocompatible, has high structural integrity, improved planarity, high lubricity, and excellent dielectric strength.
Thus, due to the rise in neurovascular complications, increase in multi-lumen catheter product launches, and increase in research and development, the studied segment is anticipated to witness growth over the forecast period.
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 have a large share of the global market for neurovascular access catheters. This is because neurovascular disorders like ischemic stroke, stenosis, brain aneurysms, and other illnesses are becoming more common, neurovascular catheters are becoming more popular, and the rate of diagnosis is high in this region.
As per the Brain Aneurysm Foundation's 2023 update, an estimated 6.7 million people in the United States have an unruptured brain aneurysm, or 1 in 50 people. About 30,000 people in the United States suffer a brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. Hence, the high prevalence of brain aneurysms is likely to increase the adoption of neurovascular access catheters and thereby boost market growth. Furthermore, increasing product launches and the presence of a well-established healthcare infrastructure are also fueling the growth of the overall regional market to a large extent. For instance, in August 2022, Vena Medical, a developer of neurovascular devices, publicized the successful treatment of the first five patients in the world using the Vena BDAC at the London Health Sciences Centre (LHSC), the University Hospital, and The Ottawa Hospital (TOH). Canada is the first to benefit from the Vena BDAC technology developed right in the patient's backyard for those requiring mechanical thrombectomy during ischemic stroke treatment. Thrombectomy, a minimally invasive procedure to remove a blood clot, is now the standard of care treatment for patients with an acute ischemic stroke (AIS) secondary to a large vessel occlusion.
North America is expected to grow over the next few years because neurovascular diseases are becoming more common, more neurovascular access catheter products are coming out, and more research and development is being done.
