Market Industry Reports (MIR) has published a new report titled “Global Microcatheters Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global microcatheters market is estimated to be US$ 222.3 Mn in 2019. It is anticipated to grow at a CAGR of 7.8% from 2019 to 2030.
The growth of the microcatheters market can be attributed to several factors such as growing target patient population of cardiovascular diseases, neurovascular disorders, and cancer, growing number of Ambulatory Care Centers & Office Based Labs (OBL) and increasing focus on R&D by Key Players. Moreover, improved hospital infrastructure in developed countries, rise in medical tourism and increase in advantages of minimally invasive procedures are expected to drive the microcatheter market during the forecast period. To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives and various product launches. For instance, Merit Medical Systems, Inc. launched Merit Pursue Microcatheter, a small distal microcatheter designed for pushability and trackability through small and tortuous vessels.
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Top Players:
The prominent players in the global microcatheters market are ASAHI INTECC CO., LTD., Boston Scientific Corporation, BTG International Ltd., DePuy Synthes (Johnson & Johnson Services, Inc.), Medtronic, Merit Medical Systems, Penumbra, Inc, Stryker, Teleflex Incorporated and Terumo Medical Corporation.
Several countries, namely Brazil, Malaysia, Thailand, Singapore, India and other developing countries have emerged as essential contributors to global medical tourism industry. China and India are lucrative markets and moreover, new product launches & product enhancements are factors that are further driving the microcatheter market in Asia Pacific. Multiple factors have been responsible for attracting patients to tour worldwide for medical treatments. India is one the fastest growing country in the APAC region, owing to medical tourism in this region. India offers wide range of surgeries at low cost compared to US & European Region. Cardiovascular surgeries, Cardiac Bypass, Heart valve replacement & Angioplasty surgeries are most commonly performed surgeries and attract medical tourists. Healthcare facilities in APAC regions are also growing and attracting many market players to launch products for different applications in this region. For instance, Gurbet plans to register SeQure and DraKon microcatheters in next two years in Australia, China, India, Japan, Korea, Singapore and Vietnam. Moreover, new technologically advanced products like steerable microcatheter by Sumitomo Bakelite are under clinical trials in Japan
There has been a marked trend in the adoption of minimally invasive surgeries globally. This growing adoption of minimally invasive surgeries has been fuelled by factors such as benefits of faster recovery, with less pain and fewer complications. Minimally invasive procedures not only have smaller incisions on the skin surface, but also cause lesser postoperative pain. The recovery time is also shorter, with the ability of the patients to return earlier to normal life or normal activity, as compared to conventional open surgery. One of the most common tools for minimally invasive surgery is microcatheter which is a long, thin, and flexible wire. The microcatheter is inserted into the vascular system for diagnosis as well as treatment. Due to rising adoption of minimally invasive surgeries, use of microcatheters is expected to rise further in the coming years.
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Regional Analysis:
Asia Pacific is expected to witness fastest growth during the forecast period. The high growth of this region can be attributed to factors such as presence of large patient pool, increasing healthcare infrastructure in Asian countries, increasing medical tourism and rising prevalence of several diseases. China commanded the largest share in the Asia-Pacific microcatheters market in 2018. There is a large population suffering from CVD, which is contributing to highest CVD death rates in the world, as CVD accounts for 45% of the over deaths in this region. Emerging markets such as India, China, South Korea and Japan are expected to drive the Asia-Pacific microcatheters market during the forecast period.
Table of Contents
- INTRODUCTION
- Market Definition
- Market Ecosystem
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecasted Years – 2019 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottoms Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecasting Model
- Limitations/Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- UNIQUE SELLING PROPOSITIONS (USPs)
- Technological Advancements
- Application Horizon Assessment
- Industry Speaks
- GLOBAL MICROCATHETERS MARKET – ANALYSIS & FORECAST, BY PRODUCT
- Diagnostics Microcatheters
- Delivery Microcatheters
- Aspiration Microcatheters
- Steerable Microcatheters
- GLOBAL MICROCATHETERS MARKET – ANALYSIS & FORECAST, BY PRODUCT DESIGN
- Dual-Lumen Microcatheters
- Single-Lumen Microcatheters
- GLOBAL MICROCATHETERS MARKET – ANALYSIS & FORECAST, BY APPLCIATION
- Oncological Application
- Urological Application
- Peripheral Vascular Application
- Cardiovascular Application
- Neurovascular Application
- Other Applications
- GLOBAL MICROCATHETERS MARKET – ANALYSIS & FORECAST, BY END USERS
- Ambulatory Care Centers
- Hospitals, Surgical Centers, & Specialty Clinics
- Office Based Labs (OBL)*
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