Microcatheter Market – Overview
This report analyzes the current and future scenario of the global microcatheter market. Rise in adoption of minimally invasive procedures, technological advancements, increase in target patient population, surge in government initiatives to promote better facilities, increase in strategic collaborations along with mergers and acquisitions, strong product pipeline, and increasing indications for the usage of microcatheters are likely to fuel the global microcatheter market during the forecast period. The global market has been segmented based on indication, end-user, and region.
The global microcatheter market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on indication, end-user, and region. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the overview section. Additionally, the section comprises competitive matrix and company profiles along with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis by region and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global microcatheter market.
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Microcatheter Market – Snapshot
Microcatheters, although a broad term, is often used to describe thin wall, small diameter catheter and delivery devices that are utilized in minimally invasive applications. These small catheters are ideal for navigating the vast network of tiny veins found within the body. Micro-catheters are commonly found throughout the medical device and healthcare industries. The global microcatheter market was valued at US$ 162.3 Mn in 2017 and is anticipated to reach nearly US$ 304.5 Mn by 2026, expanding at a CAGR of around 7.5% from 2018 to 2026. Rise in adoption of minimally invasive procedures, technological advancements, and increase in target patient population are likely to fuel the global microcatheter market from 2018 to 2026.
Surge in government initiatives to promote better facilities, increase in strategic collaborations along with mergers and acquisitions, strong product pipeline, and increasing applications of microcatheters drive the global microcatheter market. However, stringent regulatory requirements and product recall are major factors restraining the global microcatheter market.
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North America to dominate global Microcatheter market
North America accounted for 39.1% share of the market in 2017. Increasing prevalence of cardiovascular diseases as well as high per capita health care expenditure and availability of better and advanced health care facilities have resulted in people spending more on health care. Increasing number of angiography and PCI procedures and expansion of the health care industry are likely to fuel the microcatheter market in Europe during the forecast period. China and India are lucrative markets and also product launches are factors driving the microcatheter market in Asia Pacific. In 2018, ASAHI received chronic total occlusion (CTO) approvals for Corsair Pro Micro catheters and its Coronary Guide Wires to the include MIRACLEbros series, CONFIANZA series, FIELDER series, and Gaia series. Latin America and Middle East & Africa are expected to hold a significant share of the global microcatheter market during the forecast period. The Government of Brazil has introduced certain policies that allow foreign doctors from the U.S., the U.K., and other parts of the world to participate and improve health care services and practices in the country. The business council of Saudi Arabia provides support for partner identification, logistics, and market insights for better penetration into the market for new or private players in order to reduce the demand-supply gap in health care services.
Key Manufacturers Operating in Market
Major players operating in the global microcatheter market include 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, Inc. These players adopt organic and in-organic growth strategies to expand product offerings, strengthen geographical reach, increase customer base, and capture market share.
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