Global Microcatheters Market Size - Industry Trends & Forecast Report 2027 - PDF document

Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027) Global Microcatheters Market Size - Industry Trends & Forecast Report 2027 Summary Global Microcatheters Market, By Type (Delivery, Diagnosis, Aspiration, Steerable), Design (Single, Dual Lumen), Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology, Urology), End - User (Hospital, Specialty Clinics), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021 - 2027 A study recently conducted by the strategic consulting and market re search firm BlueWeave Consulting revealed that the global microcatheters market was worth USD 715.9 Million in the year 2020. The market is estimated to grow at a CAGR of 5.6%, earning revenue of around USD 1,057.8 Million by the end of 2027. Microcatheters are small, empty tubes that are inserted into blood vessels used in several in terventional procedures. Rising prolonged disorders such as cardiovascular disorders, neurovascular disorders, and cancer, coupled with the growing acceptance of minimally invasive procedures are the key factors driving the global microcatheters market. Ad ditionally, the use of technologically advanced products and many government campaigns contribute to the market's growth . Global Microcatheters Market Size - Industry Trends & Forecast Report 2027 The Global Microcatheters Market was worth USD USD 715.9 Million in 2020 and is further projected to reach USD 1,057.8 Million by 2027, at a CAGR of 5.6% View report Press release Sample report Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027) during 2021 - 2027 (forecast period). Microcatheters are thin - walled delivery device, which primarily used in minimally invasive procedures. Microcatheters are i n high demand due to an increase in the number of heart disorders, neurovascular diseases, and cancer cases across the globe. In addition, people nowadays prefer non - invasive procedures for surgeries or diagnostic purposes, which contributes to the growing demand for microcatheters. Also, technological advancements are playing a key role in the growth of the global microcatheters market. Global Microcatheters Market Overview: The delivery devices majorly used in minimally invasive applications are called microcatheters. These devices are used majorly in both the medical device and healthcare industries . Micro - catheters are utilized to reach the body's tiny, microscopic blood ve ssels. These catheters are widely used in the neurovascular domain because they allow doctors to navigate the complex network of blood vessels that make up the human body. The growth of the microcatheters market is fueled by an increase in the occurrence o f cardiovascular and neurovascular illnesses, as well as an increase in the elderly population. However, the market for microcatheters is stifled by strict laws and restrictions, as well as a scarcity of qualified professionals. Global Microcatheters Mar ket Forecast and Trends Growth Drivers Increasing Prevalence of Cardiovascular Diseases Cardiovascular Diseases are a category of ailments affecting the heart and blood arteries, including cerebrovascular disease, coronary heart disease, rheumatic hear t disease, and other conditions. Elevated blood pressure, glucose, lipids, and weight, and obesity are the most common symptoms among people at risk of CVDs. All these symptoms can be easily measured in initial care facilities. People at high risk of CVD c an receive appropriate treatment, which can help them avoid dying too young. CVDs are among the top 10 leading causes of death worldwide that affect more people than any other disease. The increasing cases of CVD are responsible for driving the growth of t he global microcatheters market. The increasing number of government initiatives and programs The global microcatheter market is driven by an increase in government strategies to encourage better facilities. For example, the Brazilian government has adop ted special regulations that allow foreign doctors from the United States, the United Kingdom, and other parts of the world to join and improve health care services and performs in the country. These kinds of campaigns are propelling the microcatheter indu stry forward. Furthermore, the microcatheters market is expected to grow during the forecast period due to an increase in strategic Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027) collaborations, as well as mergers and acquisitions, and growing recommendations for the usage of microcatheters. Rest raints High cost of microcatheters and lack of awareness in developing countries Reasons restraining the microcatheter market's growth are the high cost of microcatheters and lack of awareness among people, particularly in developing countries. Microcathet ers are significantly more expensive for middle - class individuals, thus they frequently reconsider the use of microcatheters due to cost concerns. Furthermore, developing countries, such as a few countries in the Asia Pacific, the Middle East, and Africa, lack adequate access to essential healthcare services. However, healthcare facilities are currently improving and expanding in Asian countries due to a huge population and the rising prevalence of diseases. Impact of COVID - 19 in the industry Various neur ovascular and cardiovascular surgical procedures were negatively impacted during the early stages of the COVID - 19 outbreak. Because of the rising prevalence of coronavirus infection among hospitalized patients, there is a considerable risk of infection dur ing surgical procedures, which is one of the main factors contributing to a reduction in surgical procedures. However, as the number of coronavirus cases is declining in some countries, the market for microcatheters is reviving. Furthermore, organizational alliances and government initiatives aimed at delivering clinical emergency treatment to patients with cardiac diseases have kept the business afloat. Global Microcatheters Market: By Type Based on types, the global microcatheters market is divided into Delivery, Diagnosis, Aspiration, and Steerable. Among all these segments, the steerable microcatheters segment is predicted to grow with the maximum CAGR during the forecast period. The proce dural advantages of steerable microcatheters are the primary reason behind the growth of this segment. Furthermore, an increasing number of image - guided and minimally invasive medical procedures across economies are some additional factors aiding the growt h of this segment. Also, the rising acceptance of robotically operated surgical procedures and the rising incidences of vascular diseases are contributing to the growth of the global microcatheters market. Global Microcatheters Market: By Application Bas ed on applications, the global microcatheters market is categorized into Cardiovascular, Neurovascular, Peripheral Vascular, Oncology, and Urology. During the forecast period, the neurovascular segment is likely to witness the highest growth. In 2016, cere brovascular stroke was the second most common cause of death and the third leading cause of disability. Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027) The primary reasons for stroke are hypertension, cigarette smoking, and diabetes. Thus, a growing number of neurological procedures is resulting in the growing demand for microcatheters worldwide. Global Microcatheters Market: By End User Based on end - users, the global microcatheters market is divided into Hospitals and Specialty Clinics. The hospital segment dominates the global microcatheter market an d is likely to maintain its dominance even in the forecast period. The global microcatheter market is expected to be driven by an increase in the number of hospitals, better reimbursement policies, and an increase in the number of cardiovascular disorders. On the other hand, in the Asia Pacific, the specialty clinics segment is likely to create immense lucrative opportunities. During the forecast period, APAC's microcatheters market is likely to be driven by technical advancements and improved healthcare infrastructure in emerging countries. Global Microcatheters Market – Regional Insights Based on region, the global microcatheters market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all the regions, N orth America holds the largest market share owing to the growing number of healthcare facilities in the region. Additionally, growing government initiatives to spread awareness regarding chronic complaints, and a significant incidence of heart disease and stroke in the region are also contributing to the growth of the microcatheters market in North America. Furthermore, an increase in the demand for minimally invasive techniques and the accessibility of technologically advanced products contribute to the r egional market growth. On the other hand, due to the rising aging population, increasing incidence of chronic illnesses, vast population base, better diagnostic excellence, and increasing patient affordability, Asia Pacific is expected to grow at the faste st CAGR throughout the forecast period. Recent Developments In January 2021, Asahi Intecc USA announced that its direct sales team will sell the Neurovascular portfolio, consisting of Chikai Guide Wires and Fubuki Guide Catheters and Sheaths. In May 2020, Tokai Medical Products, Inc. announced CE Mark approval for the Rescue balloon occlusion catheter, a low - profile device designed for Resuscitative Endovascular Balloon Occlusion of the Aorta (REBOA). Competitive Landscape The key players in the glo bal microcatheters market are Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics, Asahi Intecc USA, Inc., Merit Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027) Medical Systems, Inc., Stryker, Terumo Medical Corporation, Tokai Medical Products, Inc., and Penumbra, Inc. and other key manuf acturers. The key players are adopting growth plans to increase their product offerings, and strengthen their geographical reach besides surging customer base to capture the large market share. Additionally, many leading players are struggling to bring mor e technologically advanced instruments to the market. However, strict regulatory practices, product recalls, and a lack of skilled medical professionals act as an essential restraint to the global microcatheters market. Scope Attribute Details Years Considered Historical data – 2017 - 2020 Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD Million Market Coverage U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia Product/Service Segment ation By Type, By Design, By Application, By End Users, By Region Key Players Key players in the global microcatheters market are Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics, Asahi Intecc USA, Inc., Merit Medical Systems, Inc., Stryker, Terumo Medical Corporation, Tokai Medical Products, Inc., and Penumbra, In c. and other key manufacturers. · By Type o Delivery o Diagnosis o Aspiration o Steerable · By Design o Single o Dual Lumen Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027) · By Application o Cardiovascular o Neurovascular o Peripheral Vascular o Oncology o Urology · By End User o Hospital o Specialty Clinics · By Region o North America o Latin America o Europe o Asia Pacific o Middle East o Africa FAQs 1. What is the current size of the global microcatheters market? Answer: Global microcatheters market has reached USD 715.9 Million in 2020. 2. What are the major factors driving the growth of the global microcatheters market? Answer: Increasing number of heart diseases, neurovascular diseases, and cancer majorly contribute to the demand of the microcatheters market. In addition, people are looking for non - invasive procedures for surgeries or diagnostic purposes, and technologic ally advanced products, which in turn is contributing to the growth of the microcatheters market. 3. Who are the key players in the global microcatheters market? Answer: The key players in the global microcatheters market are Boston Scientific Corporatio n, Codman Neuro, Medtronic, Biometrics, Asahi Intecc USA, Inc., Merit Medical Systems, Inc., Stryker, Terumo Medical Corporation, Tokai Medical Products, Inc., and Penumbra, Inc. and other key manufacturers. Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027) 4. Based on product, which segment accounted for the largest share in the global microcatheters market? Answer: The steerable segment accounted for the largest share in the global microcatheters market. 5. Which end - user segment accounted for the largest share in the global microcatheters market? Answer : The hospital segment is growing at a higher rate in the global microcatheters market. About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Microcatheters Market Awaits Moderate Growth: Projected to touch USD 1057.8 Million by 2027, growing at the CAGR of 5.6% during the forecast period (2021 - 2027)