North America Neurovascular Catheters Market Size, Share & Industry Trends Analysis Report By Type, By End-Use (Hospitals, Clinics, Ambulatory Surgical Centers and Diagnostic Centers), By Application, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The North America Neurovascular Catheters Market would witness market growth of 6.3% CAGR during the forecast period (2023-2029).
The market potential for products and services catering to the geriatric population (those aged 65 years or above) is expanding globally due to advancements in healthcare and heightened awareness of health concerns among seniors. In addition, the forecast period will witness growth in the neurovascular catheter market due to the rise in age-related neurological disorders. A multi-lumen catheter is a medical device that features several internal channels, or lumens, within a single catheter.
Each lumen has the capability to be linked to a separate intravenous infusion, and typically the fluid will exit at a slightly varied location along the catheter. The expansion of the multi-lumen catheter market is anticipated during the forecast period owing to the increasing prevalence of neurovascular disorders like ischemic stroke, stenosis, brain aneurysm, and other ailments, along with advances in technology in neurovascular catheters. The anticipated growth of the studied segment is attributed to the increase in multi-lumen catheter product launches and growing research and development over the forecast period.
The market is being driven by a variety of factors, including the increasing incidence of neurological conditions such as brain stroke and aneurysms, the spread of unhealthy lifestyles, growing awareness among the general population about neurological treatment, rising levels of disposable income, and the introduction of new products by major market players.
In the United States, over 10,000 individuals turn 65 every day. In 2019, 54.1 million people in the United States were 65 years of age or older. More than one in seven Americans and they made up 16% of the population, represented. Since 2009, there has been a 36% increase in elderly Americans, which amounts to 14.4 million more individuals. In comparison, the population under 65 has only experienced a 3% increase. The demographic of Americans aged 45 to 64, who will reach the age of 65 within the next two decades, experienced a 4% growth from 80.3 million to 83.3 million between 2009 and 2019.
The population of Americans aged 60 and over has increased by 34%, from 55.7 million to 74.6 million. There were 24.1 million males and 30 million women over the age of 65 in 2019. Future projections indicate that the senior population will continue to increase dramatically. Hence, the aging population in the region is expected to surge the demand for neurovascular catheters as the geriatric population is more prone to get neurovascular-related illnesses like embolic stroke, which require the use of these catheters, thereby propelling the market growth in North America.
The US market dominated the North America Neurovascular Catheters Market by Country in 2022; thereby, achieving a market value of $1,249.2 million by 2029. The Canada market is poised to grow at a CAGR of 8.7% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 7.8% during (2023 - 2029).
Based on Type, the market is segmented into Embolization Catheters, Access Catheters, Balloon Catheters, Microcatheters and Others. Based on End-Use, the market is segmented into Hospitals, Clinics, Ambulatory Surgical Centers and Diagnostic Centers. Based on Application, the market is segmented into Brain Aneurysm, Embolic Stroke, Arteriovenous Malformations and Hydrolysate. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Neurovascular Catheters Market is Projected to reach USD 4.6 Billion by 2029, at a CAGR of 6.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Stryker Corporation, Terumo Corporation, Integer Holdings Corporation, Penumbra, Inc., Johnson & Johnson (Johnson & Johnson Services, Inc.), Integra LifeSciences Corporation, Acandis GmbH, Spiegelberg GmbH & Co. KG, RAUMEDIC AG (REHAU Industries SE & Co. KG).
Scope of the Study
Market Segments Covered in the Report:
- Embolization Catheters
- Access Catheters
- Balloon Catheters
By End Use
- Ambulatory Surgical Centers
- Diagnostic Centers
- Brain Aneurysm
- Embolic Stroke
- Arteriovenous Malformations
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- Stryker Corporation
- Terumo Corporation
- Integer Holdings Corporation
- Penumbra, Inc.
- Johnson & Johnson (Johnson & Johnson Services, Inc.)
- Integra LifeSciences Corporation
- Acandis GmbH
- Spiegelberg GmbH & Co. KG
- RAUMEDIC AG (REHAU Industries SE & Co. KG)
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