Microcatheters Market -Overview
The microcatheter market will be bolstered by its major use in neurovascular and cardiovascular applications. The global microcatheters market is being driven by rising acceptance of minimally invasive techniques and the opening of new diagnostic centres and hospitals in emerging nations. As per MRFR, the market is estimated to gain an income of USD 2,412.0 million at a CAGR of ~4.1% by 2027.
Minimally invasive surgery is becoming more popular due to its benefits over traditional open operations, which include smaller and fewer scars, shorter hospital stays and recovery periods, and overall better outcomes that will support the growth of the global microcatheter market.
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The segmental analysis of the microcatheter market is carried out based on end user, design, and application type. The microcatheters market is divided into three categories based on the end user: specialist clinics, hospitals, and ambulatory surgery centers. The market has been divided into single and double lumens by design. The global microcatheters market has been divided into five categories based on application type: peripheral vascular, cardiovascular, neurovascular, oncology, and urology. The region segment of the microcatheter market consists of Europe, Asia-Pacific, North America, and other vital regions.
Detailed Regional Analysis
The regional scrutiny of the microcatheter market consists of Europe, Asia-Pacific, North America, and other vital regions. With the accessibility of technologically sophisticated devices, the mounting number of percutaneous coronary intervention procedures, and favorable government efforts, North America dominated the microcatheter market throughout the projection period. Due to the increasing number of percutaneous coronary intervention procedures, growing geriatric population, accessibility and accessibility to technologically advanced products, and growing government initiatives, North America is anticipated to dominate the microcatheters market through the forecast period. The rising use of minimally invasive surgery across the region and high demand for technologically innovative products have led to Europe is the second-largest market for microcatheters. Furthermore, with the increasing prevalence and incidence of target diseases, a large patient pool, and growing healthcare infrastructure in Asian countries, Asia-Pacific is considered one of the fastest regional markets for microcatheters.
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The minimization of supply chain bottlenecks is the main objective that market challengers are intended to address aggressively in the predicted year. During the forecast period, the market is anticipated to offer new and profitable expansion options. The battle for the majority share is predicted to change the market landscape in the forecast period fundamentally. The market is more inclined to conduct business transactions online than in physical locations. End-users in the business are predicted to exhibit a wide range of preferences in the coming years. Companies now have a new mission surrounding the customer journey and the rapid acceleration of digitalization due to the global pandemic. However, the upheaval produced by the COVID crisis has not only created a whole new dimension of risk. Still, it has also prompted enterprises to reassess risks as they navigate cautiously through an uncertain economic climate. After the decline seen in the aftermath of the pandemic, the government bodies of various nations are believed to play an important role in the worldwide market’s resuscitation.
The illustrious contenders in the microcatheter market are Boston Scientific (US), Cook Medical (US), Terumo Medical Corporation (US), Asahi Intecc (Japan), Teleflex Inc. (US), Lepu Medical Technology Company (China), Merit Medical Systems, Inc. (US), Medtronic (Ireland), Guerbet (France), Acandis GmbH (Germany), Acrostak (Switzerland), Stryker Corporation (US), Cerus Endovascular Ltd (US).
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Nov 2021 The FDA has approved novel hydrophilic-coated XO Cross Microcatheters for guidewire support, exchange, and contrast media injection in the peripheral vasculature, according to Transit Scientific. For increased 1:1 torque, low-profile, pushability, tracking, crossing, fatigue-resistance, and angiography, the XO Cross-platform features a metal-alloy exoskeleton, non-tapered shaft, proprietary hydrophilic lubricious coating, and wide inner lumen.
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