The global microcatheters market is forecast to grow at a compound annual growth rate (CAGR) of more than 5% during the forecast period from 2021-2030.
Microcatheters are small catheters used for minimally invasive procedures. Flexible and inserted into the vessel or body cavity, they allow fluids or gases to drain with the help of surgical instruments. An artery or vein can be inserted with a microcatheter to measure blood pressure.
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The finical wall often appears in micrographs. Catheters like these are ideal for exploring the vast network of modest veins found inside the body. Catheters of this size are perfect for navigating through the body’s extensive network of veins. Medical devices and healthcare industries commonly utilize micro-catheters. A number of companies are designing and manufacturing advanced products to meet the demand in the global market by physicians and healthcare providers.
Factors Affecting
- Microcatheters market growth is primarily driven by minimally invasive surgeries, increasing clinical research studies, and the increasing number of neurovascular disorders, cardiovascular diseases, and cancer patients.
- Governments are also taking initial steps to implement various schemes which are boosting the market’s demand.
- The increase in capital income in developed countries has increased the demand for microcatheters on the market.
- Treatment procedures are too expensive and cannot be afforded by middle and lower-class people, limiting market demand. The lack of skilled physicians performing these tasks with the latest technology is also a challenge to the market.
Impact Analysis of COVID-19
During the early stages of the COVID-19 outbreak, there were a number of complications from neurovascular and cardiovascular surgery. Surgical procedures decrease due to increasing risk of coronavirus infection among hospitalized patients, thereby increasing the risk of complications during surgery. While Coronavirus cases are declining in some countries, there is a resurgence in microcatheters. Furthermore, the business has been able to stay afloat by partnering with government agencies and government initiatives to make clinical emergency treatments available to patients with cardiac conditions.
Regional Analysis
The number of healthcare facilities in North America accounts for the region’s largest market share.In addition, government initiatives to spread awareness of chronic complaints and the high prevalence of heart disease and stroke in North America also drive the market. Also contributing to the market growth is a growing need for minimally invasive treatments and the availability of technologically advanced products.
Due to the aging population, the prevalence of chronic illnesses, the large population base, better diagnostic excellence, and increasing patient affordability, Asia Pacific is forecast to grow at the fastest CAGR.
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Leading Competitors
The leading prominent competitors in the global microcatheters market are:
- AngioDynamics, Inc. (US)
- ASAHI INTECC CO., LTD. (Japan)
- B. Braun Melsungen AG (Germany)
- Becton, Dickinson, and Company (US)
- Boston Scientific Corporation (US)
- BTG PLC (UK)
- Cardinal Health, Inc. (US)
- Cook Group Incorporated (US)
- Johnson and Johnson (US)
- Medtronic Plc (Ireland)
- Merit Medical Systems, Inc. (US)
- Penumbra (US)
- Stryker Corporation (US)
- Teleflex Incorporated (US)
- Terumo Corporation (Japan)
- Other Prominent Players
Scope of the Report
The global microcatheters market segmentation includes Type, Design, Application, End-User, and Region.
Segmentation based on Type
- Delivery Microcatheters
- Steerable Microcatheters
- Aspiration Microcatheters
- Diagnostic Microcatheters
- Segmentation based on Design
- Single-Lumen Microcatheters
- Dual-Lumen Microcatheters
Segmentation based on Application
- Cardiovascular
- Neurovascular
- Peripheral Vascular
- Oncological
- Urological
- Otolaryngological
- Other Application
Segmentation based on End-User
- Hospitals
- Surgical Centers
- Specialty Clinics
- Ambulatory Surgical Centers
- Others
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Aim of the Report
- This study aims to determine the market size of various segments and countries with forecast values for next ten years.
- Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
- It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
- The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
What is the goal of the report?
-The market report presents the estimated size of the Healthcare market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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