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(Medical-NewsWire.com, March 26, 2020 ) Market Overview
• The Global Neurovascular Catheters Market is expected to grow at a high CAGR during the forecasting period (2019-2026).
• A neurovascular catheter is used to drain or withdraw unwanted fluid from neurovascular organs such as brain, intracranial spaces, carotid artery, etc. It also administers medications to the neurovascular organs, and diagnose several neurovascular diseases like aneurysm, carotid artery disease, and others.
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Market Dynamics
• The major driving forces are the prevalence of neurovascular disorders, R&D investments, and technological advancements.
• The increasing cases of neurovascular disorders like ischemic stroke, stenosis, brain aneurysm, and other illnesses are expected to boost the market. For instance, according to WHO, globally, cerebrovascular accidents (stroke) are the second leading cause of death and the third leading cause of disability. Also, globally, 70% of strokes and 87% of both stroke-related deaths and disability-adjusted life years occur in the low- and middle-income countries. Around, 15 million people will suffer from strokes worldwide each year. Of these, 5 million dies and another 5 million are permanently disabled. Thus, the increasing number of ischemic stroke cases is driving the market.
• Technological advancements are expected to drive the market over the forecast period. With the advancements in catheter materials and designs, along with the availability of minimally invasive technologies, patients with neurovascular problems are beginning to experience reduced costs, pain, and recovery time. For instance, on January 7, 2019, MicroVention, Inc., received the FDA Premarket Approval for the WEB aneurysm embolization system for the treatment of intracranial aneurysms. The WEB System is the first, and the only PMA approved device in the new category of intrasaccular flow disruptors for aneurysm embolization. Also, the Penumbra JET 7 with XTRA FLEX technology is used with the Penumbra ENGINE in the fully integrated Penumbra System, enables the physicians to extract thrombus in acute ischemic stroke patients.
• Also, the presence of safety guidelines issued by the government bodies is expected to drive the market. For instance, in March 2017, the FDA has published an advisory on which catheters are and are not indicated for neurovascular thrombus retrieval. According to the document, neurovascular thrombus retrieval catheters (product code NRY) are cleared specifically for restoring blood flow or removing thrombus within 8 hours of acute ischemic stroke onset in patients who cannot receive or failed IV tissue plasminogen activator. In contrast, neurovascular guide catheters (product code DQY) are not cleared.
• However, complications with neurovascular catheters, the biocompatibility of catheters, risk of catheter blockage in the neurovascular organs, and detachment of coating from the catheter are expected to hamper the market growth.
• The complications associated with neurovascular catheters is expected to restrain the market. Any procedure that places a catheter inside a blood vessel carries certain risks. They include damage to the blood vessel, bleeding at the puncture site, and infection. FDA stated that it has received a small number of adverse event reports indicating patient injury, and at least one death, associated with the neurovascular guide catheters used in this manner. Also, the use of neurovascular guide catheters for thrombus removal may affect the safety and performance, which may result in device failure and other serious adverse effects like perforation, vessel damage, or dissection when used in the most distal regions of neurovasculature.
Market Segmentation Analysis
• The global neurovascular catheters market can be segmented by type into microcatheter, balloon catheter, access catheters, embolization catheters, and others.
• The microcatheter segment is expected to grow at a high rate over the forecast period, owing to the presence of key players manufacturing microcatheters. For instance, Covidien plc’s Apollo Onyx delivery microcatheter is the first detachable tip microcatheter available in the US. The new microcatheter is designed to solve the technical challenges of the catheter retrieval during Onyx LES embolizations of brain arteriovenous malformations (bAVMs). Thus, the presence of key players manufacturing microcatheter devices is driving the market.
• The balloon catheter segment is expected to boost the market growth over the forecast period, owing to the presence of recent FDA approved devices. For instance, On July 17, 2019, Q'Apel Medical has received US FDA clearance for its novel walrus Balloon Guide Catheter (BGC).
• The other segment includes the use of thrombectomy catheters, which uses vacuum aspiration to remove the clot. Penumbra’s Ace 68 system offered is the only device of its kind currently on the market in the US. Both Medtronic and Stryker have estimated that more than 240,000 patients are eligible for mechanical thrombectomy every year in the US, and current procedure numbers demonstrate that there is considerable room for market growth. Stent retrievers and thrombectomy catheters often are used in conjunction.
• The global neurovascular catheters market can be segmented by material into fluorinated ethylene propylene, nylon, polyether block amide, liquid crystal polymer, polyether ether ketone, and others.
• The fluorinated ethylene propylene segment is expected to drive the market growth over the forecast period, owing to the presence of technological advancements in the catheter material. For instance, Materials specialist and peelable heat shrink tubing (PHST) technology developer, Junkosha, has launched its 2.5:1 FEP PHST solution in February 2019. Junkosha's new 2.5:1 PHST solution has been designed to provide catheter manufacturers with the highest shrink ratio currently possible in Peelable fluorinated ethylene propylene (FEP), enabling customers to save time and money through a decreased number of shrink processes. Thus, the technological advancements in the catheter material is driving the market.
• The global neurovascular catheters market can be segmented by application into the neurovascular embolic stroke, arterial vasospasm, aneurysms, vertebral and sinus fistulas, and others.
• The aneurysms segment is expected to drive the market over the forecast period, owing to the increasing cases of brain aneurysms and the presence of key players manufacturing catheters for the treatment of the aneurysm. For instance, according to the Brain Aneurysm Foundation, every year, around 500,000 people die of brain aneurysms across the globe. Of these, 50% of people are 50 years old or below. Thus, the increasing cases of brain aneurysms are driving the market.
• The neurovascular embolic stroke segment is expected to grow at a high rate over the forecast period, owing to the increasing incidence of embolic strokes. For instance, according to the American Stroke Association, ischemic stroke occurs when a vessel supplying blood to the brain is obstructed. It accounts for about 87 % of all strokes. Thus, the increasing cases of embolic strokes are driving the market.
Geographical Analysis
• Geographically, the global neurovascular catheters market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
• North America is dominating the global neurovascular catheters market in 2018 and is estimated to hold significant market size over the forecast period (2019-2026) owing to the increasing cases of neurovascular disorders, advancement in technology, and the presence of maximum catheter retrievers in the market.
• The increasing incidence of neurovascular disorders is expected to boost the market. For instance, the CDC has reported that stroke kills about 140,000 Americans every year, about 1 out of every 20 deaths. Also, someone in the US has a stroke every 40 seconds. Every 4 minutes, someone dies of a stroke. Moreover, stroke costs the US an estimated $34 billion each year. Also, as per the Brain Aneurysm Foundation, an estimated six million people in the US have an unruptured brain aneurysm or 1 in 50 people. The annual rate of rupture is around 8 – 10 per 100,000 people. About 30,000 people in the US suffer a brain aneurysm rupture each year. Further, a brain aneurysm ruptures every 18 minutes in the US. Thus, increasing cases of neurovascular disorders is driving the market.
Competitive Landscape
• The major players operating in the global neurovascular catheters market are Stryker, Medtronic, Integer Holdings Corporation, DePuy Synthes (Johnson and Johnson), Biomerics, Zeus Industrial Products, Inc, Imperative Care Inc, and Penumbra, Inc.
• The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the neurovascular catheters market globally. For instance,
• On September 23, 2019, Phenox has signed an exclusive distribution agreement with Wallaby Medical Inc. for the commercialization of the Avenir Detachable Coil System in the US and EU markets.
• On July 22, 2019, Penumbra, Inc., a global healthcare company focused on innovative therapies, announced the U.S. commercial availability of the Penumbra System’s most advanced technology, the Penumbra JET 7 Reperfusion Catheter with XTRA FLEX technology at the Society of NeuroInterventional Surgery (SNIS) 16th Annual Meeting in Miami.
• In April 2019, Medtronic has announced the US launch of the Solitaire X Revascularisation Device, and its first use in the patients for the treatment of acute ischaemic stroke. Also, Medtronic introduced the Phenom 21 Catheter, a 160cm length microcatheter for the delivery of all sizes of Solitaire X.
• In 2017, The US FDA warned the healthcare providers of potential harm to the patients when neurovascular guide catheters are used to remove blood clots in stroke patients.
• On July 25, 2016, Codman Neuro, part of DePuy Synthes Companies of Johnson & Johnson, has agreed with InNeuroCo, Inc. for the exclusive US and European distribution rights for intermediate catheters that enable minimally invasive treatment of hemorrhagic stroke.
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