Microcatheters Market Trends, Growth and Size Analysis by Design (Single and Double Lumen), Product (Aspiration, Delivery, Diagnostic, Steerable), Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology, Urology), End User (Hospitals, Ambulatory Surgical Centers, Specialized Clinics), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2027
Microcatheters Market Outlook
The rise in neurovascular and cardiovascular applications is estimated to spur the expansion of the microcatheters market. The market’s report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. The microcatheter market size is expected to reach USD 2,412 million at 4.1% CAGR by 2027.
The upsurge in the requirement for minimally invasive procedures is anticipated to bolster the development of the microcatheter market share in the upcoming period. Furthermore, the uptick in the diagnostic centers and hospitals in different areas is estimated to alter the microcatheter market companies in the duration of the forecast period. The reduced risk associated with the usage of microcatheters is estimated to spur the expansion of the global market in the forthcoming period.
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Microcatheters Market Segmental Analysis
The segmental study of the microcatheter market is carried out on the basis of design, application, region, end user, and product. The design segment of the market consists of the double and single lumen. The application segment of the market consists of peripheral vascular, neurovascular, oncology, cardiovascular, and urology. The region segment of the market consists of North America, Europe, Asia-Pacific, and other notable regions. The end-user segment of the microcatheter market consists of hospitals, specialized clinics, and ambulatory surgical centers. The product segment of the market consists of aspiration, delivery, diagnostic, and steerable.
Microcatheters Market Competitive Analysis
The market’s heightened focus on high-revenue decision-making is expected to hasten its return to normalcy in the coming months. The necessity to develop a competitive advantage over its competitors has a significant impact on the global microcatheters market. With a combination of innovation and continuous product refinement, the market is expected to lead its future expansion. During the predicted period, the focus on accelerated growth is expected to take center stage. The requirement to effectively engage clients in all the geographical areas is expected to aid the market in overcoming the current challenges.
Furthermore, the market stakeholders need to ensure that long-term sustainable growth targets are not endangered due to current difficulties. The current market trends are making a significant contribution to the industry’s growth. The market contenders are expected to promote growth enabling elements and, as a result, to bring the microcatheters market out of the current worldwide pandemic. The use of technology and a strategy-based approach is likely to increase the likelihood of future success.
The prominent players in the microcatheter market are
- Boston Scientific (US)
- Lepu Medical Technology Company (China)
- Terumo Medical Corporation (US)
- Merit Medical Systems, Inc. (US)
- Guerbet (France)
- Cook Medical (US)
- Acandis GmbH (Germany)
- Acrostak (Switzerland)
- Stryker Corporation (US)
- Medtronic (Ireland)
- Teleflex Inc. (US)
- Asahi Intecc (Japan)
- Cerus Endovascular Ltd (US).
Microcatheters Market Regional Overview
The regional summary of the microcatheter market covers North America, Europe, Asia-Pacific, and other notable regions. Due to the general availability and accessibility to technologically advanced devices, the rising number of percutaneous coronary intervention operations, and favorable government initiatives, North America dominated the microcatheter market in 2020. Due to the presence of a large patient pool, increasing prevalence and incidence of target diseases, and growing healthcare infrastructure in Asian countries, Asia-Pacific is expected to be the fastest-growing regional market for microcatheters.
Microcatheters Industry Updates:
July 2021 The Azur vascular plug has been introduced by Terumo Medical Corporation. The addition to Terumo’s embolisation portfolio is indicated for use in arteries of the peripheral vasculature to limit or stop blood flow. For handling difficult calcium and plaque seen in late-stage peripheral artery disease (PAD) and critical limb ischaemia (CLI) patients, the non-tapered, metal-alloy, and polymer construction provides great fatigue resistance. The release of the PG Pro peripheral microcatheter, which is approved for the infusion of diagnostic and therapeutic substances into the peripheral vasculature, complements the launch of the Azur vascular plug.
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Mar 2021 Transit Scientific’s non-tapered metal alloy XO Cross microcatheter platform just got CE mark approval in the European Union. During complex endovascular treatments, microcatheters are often employed to provide guidewire support, enable guidewire exchanges, access distal anatomy, cross lesions, provide therapeutic embolics, and inject contrast media. The XO Cross platform is intended to provide new degrees of pushability, trackability, and torque response for easier access to difficult peripheral lesions. For handling difficult calcium and plaque seen in late-stage peripheral artery disease (PAD) and critical limb ischaemia (CLI) patients, the metal-alloy and polymer, non-tapered, construction provides great fatigue resistance.
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