[Latest] Global Microcatheters Market Size/Share Worth USD

SAN FRANCISCO, U.S., Feb. 21, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Microcatheters Market By Design (Single Lumen & Dual Lumen), By Type (Delivery Microcatheter, Aspiration Microcatheter, Diagnostic Microcatheter, & Steerable Microcatheter), By Application (Cardiology, Neurology, Peripheral Vascular, Oncology, Urology, Otolaryngology, & Others), By End-User (Hospitals, Surgical Centers, Specialty Clinics, and Ambulatory Care Centers), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” in its research database.

“According to the latest research study, the demand of global Microcatheters Market size & share was valued at approximately USD 760 million in 2020. The market is expected to grow above a CAGR of 8.2% and is anticipated to reach over USD 1800 million by 2026.”

The report analyses the Microcatheters market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Microcatheters market.

Microcatheters Market Overview:

Microcatheters are an astute form of catheters that usually range from a diameter range of 0.7 – 1.3 mm in diameter. These devices are usually used for delivering objects to and fro in the human body as well as provide guidewire support, access certain anatomies, inject therapeutic consumables, and providing certain injectables for further medical procedures. The major driving forces behind the significant growth of microcatheters can be credited to the rise in chronic diseases among the aging population as well as disorders relating to cardiovascular, neurovascular, and cancerous conditions.

Additional factors that credit the rise of microcatheters include improved features such as decreased failure rates and procedural times and the real-time ability to change the degree of angulation. Moreover, a litany of efforts from the combination of government bodies and global organizations to exchange valuable information about the advantages of microcatheters will further propel the growth of the market during the forecast.

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Key Insights from Primary Research:

• As per the analysis, the Microcatheters market is likely to grow above a CAGR of around 8.2% between 2021 and 2026.
• The Microcatheters market size was worth around US$ 760 million in 2020 and is estimated to hit approximately US$ 1800 million by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The advancement of chronic diseases among the advanced population related to cardiovascular, neurovascular, and cancerous problems, as well as the rising use of minimally invasive procedures, are the main forces driving the global microcatheters market.
• On the basis of design, the dual lumen microcatheters are anticipated to have the biggest market share over the projection period.
• Based on the type, aspiration microcatheters are anticipated to rule the market during the duration of the forecast.
• On the basis of region, the “North America” will likely overtake the global market with over 30% of the total revenue generated by the latter region.

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Competitive Players:

Some of the main players in the global Microcatheters market include;

• Medtronic Plc.
• Terumo Corporation
• Merit Medical Systems
• Stryker Corporation
• Penumbra Inc.
• Boston Scientific Corporation
• Teleflex Inc.
• ASAHU INTECC CO. LTD.
• Cook Group International
• Becton
• Dickinson and Company
• AngioDynamics Inc.
• B. Braun Melsungen

Industry Growth Factors:

The rise of chronic diseases associated with cardiovascular, neurovascular, and malignant illnesses in the advanced population, as well as the increased popularity of minimally invasive procedures, are major factors driving the global market for microcatheters. Technology developments and greater government incentives are additional factors that can be linked to the sharp increase in microcatheters. The market for microcatheters will also rise at a large rate because to a quick shift in the sedimentary lifestyle and a surge in habits like smoking, hypertension, and diseases linked to obesity.

Technology developments like the increased usage of steerable microcatheters will further support market growth. There will be chances for the microcatheter market to grow throughout the forecast period thanks to advanced characteristics in the most recent iteration of microcatheters, such as a lower failure rate, shorter procedure times, and the capacity to modify the degree of angulation in real-time. Also, it is anticipated that enhanced medical infrastructure and international organisation collaboration will drive the microcatheter market into a ballooning condition throughout the course of the forecast.

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Microcatheters Market: Segmentation Analysis

The market can be divided into delivery, diagnostic, aspiration, and steerable microcatheter based on the type. Aspiration microcatheters are expected to lead the market during the forecast timeframe owing to a rising occurrence of acute stroke, aneurysms, and peripheral artery-based disorders. Aspiration-based microcatheters also offer additional advantages such as rapid recanalization, complete prevention of blood flow, and efficient preventative abilities for conditions such as embolism at the time of operations.

By design, the global microcatheters market shows dominance in the dual lumen category owing to various benefits such as quick access to procedural websites. In this, multiple analgesics or drug infusions can be administered consecutively rather than using multiple perfusions. Dual lumen is mostly the preferred technology for interventional cardiology procedures. Furthermore, the rising prevalence of chronic diseases including cardiovascular or neurovascular diseases has increased the adoption of microcatheters in the developing regions, which is then projected to enhance the demand for lumen microcatheters.

Based on the end-user, the market is categorized into Hospitals, Surgical Centers, Specialty Clinics, and Ambulatory Care Centers. The hospital category accounted for the largest market share due to the rise in the number of hospitals and specialty clinics in developing nations; growing prevalence of target diseases, and also a surge in the performance of surgical and diagnostic procedures across these facilities.

On the basis of application, the global microcatheters market can be divided into cardiology, neurology, peripheral vascular, oncology, urology, otolaryngology, and others. The segment of cardiology will witness the largest market share owing to the current trend of increase in cardiovascular incidences over the forecast. The segment of neurology will witness the fastest growing CAGR during the forecast.

Regional Dominance:

North America Will Witness the Highest Growing Market Share During the Forecast Timespan

North America is expected to witness the largest market share during the forecast period owing to a litany of factors pertaining to better healthcare establishments, increased healthcare spending among consumers, widened government incentives, raising awareness among consumers, and better healthcare infrastructures.

The region of Asia-Pacific is expected to witness the fastest CAGR during the forecast owing to various crediting factors such as an increasing in the aging population in emerging economies such as Japan, China, and India. Additional factors for the significant rise in the region can be accredited towards improved healthcare facilities and increased consumer spending.

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Recent Industry Developments:

Here are some notable advancements and collaboration in recent times aimed at the microcatheters market –

• The region of Japan (ASAHI INTECC CO. LTD.) recently collaborated with a firm of the United States (Medtronic Plc.) to introduce a range of guidewire catheters in the region.
• Merit Medical Systems, Inc. collaborated with Argon Medical Devices and Catheter Connections, Inc. in order to extend its product range.
• Merit Medical Systems, Inc. furthers the FDA’s approval for SwiftNINJA steerable range of microcatheters.

Key questions answered in this report:

• What is the market size and growth rate forecast for Microcatheters industry?
• What are the main driving factors propelling the Microcatheters Market forward?
• What are the leading companies in the Microcatheters Industry?
• What segments does the Microcatheters Market cover?

• How can I receive a free copy of the Microcatheters Market sample report and company profiles?

Report Scope:

Report Attribute	Details
Market Size in (2020)	USD 760 Million
Projected Market Size in (2026)	USD 1800 Million
CAGR Growth Rate	8.2% CAGR
Base Year	(2020)
Forecast Years	2021 – 2026
Key Market Players	Medtronic Plc., Terumo Corporation, Merit Medical Systems, Stryker Corporation, Penumbra, Inc., Boston Scientific Corporation, Teleflex, Inc., ASAHU INTECC CO. LTD., Cook Group International, Becton, Dickinson and Company, AngioDynamics, Inc., and B. Braun Melsungen, among others.
Key Segment	By Design, Type, Application, End-User, and Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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The global microcatheters market is segmented as follows:

By Design 

• Single Lumen Microcatheters
• Dual Lumen Microcatheters

By Type

• Delivery Microcatheter
• Aspiration Microcatheter
• Diagnostic Microcatheter
• Steerable Microcatheter

By End-User

• Hospitals
• Surgical Centers
• Specialty Clinics,
• Ambulatory Care Centers

By Application

• Cardiology
• Neurology
• Peripheral Vascular
• Oncology
• Urology
• Otolaryngology
• Others

By Region

• North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key Offerings:

• Market Size, Trends, & Forecast by Revenue | 2021−2026
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by Design, Type, Application, End-User, and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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