Dublin, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The "Microcatheter Market by Type (Delivery, Diagnostic, Aspiration, Steerable), Design (Single, Dual), Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology), End-User (Hospital and Ambulatory Surgical Centers) - Global Forecasts to 2027" report has been added to ResearchAndMarkets.com's offering.
The global microcatheter market is projected to reach USD 1,082 million by 2027 from USD 828 million in 2022, at a CAGR of 5.5% during the forecast period. Factors such as the growing adoption of minimally invasive procedures, rising geriatric individuals, Increasing prevalence of cardiovascular and neurovascular diseases, and increasing sedentary lifestyles and eating habits are increasing cardiac arrest cases, thereby increasing the minimally invasive procedures in hospitals.
The delivery microcatheter to hold the largest share of the market in 2022.
The delivery microcatheter holds the largest market share in 2022. The large share of this segment can be attributed to knowing the use of the microcatheter properly and the increasing number of nonsurgical procedures replacing open surgeries.
The clinics, hospitals, and medical spas segment are projected to register the highest CAGR during the forecast period.
Based on end users, the microcatheter market is segmented into hospitals, Surgical centers, and Specialty clinics. The hospitals, Surgical centers, and Specialty clinics are projected to register the highest CAGR during the forecast period of 2022 to 2027. The key factors supporting segment growth are the availability of high-quality non-surgical equipment and personnel in hospitals, growing awareness about minimally invasive procedures performed in hospital settings, and the increasing number of plastic surgeons.
The market in the North American region is expected to witness the highest growth during the forecast period.
North America accounted for the largest market share - 46.4% - in 2022. This share can be attributed to a large number of target procedures (including cardiovascular, neurovascular, and oncology, among others) performed in the region coupled with the high prevalence of related diseases & disorders. In addition, the presence of a well-established healthcare system in the US and ongoing investments by hospitals to upgrade & expand operating capabilities are some of the other factors expected to fuel the growth of the microcatheters market in North America.
While growth in the US and European markets for microcatheters is reaching stagnancy due to market saturation, the market in APAC is expected to witness significant growth in the coming years. The microcatheters market in the APAC region is expected to register a CAGR of 6.9% during the forecast period, primarily due to the growing number of hospitals in Asian countries, favorable government initiatives, growing healthcare industry, and increasing prevalence of target diseases & disorders in the region.
Market Dynamics
Drivers
- Technological Advancements in Interventional Cardiology
- Expansion of Patient Population Suffering from Chronic Illness
- Increasing Conferences and Symposia to Spread Awareness About Benefits of Microcatheters
Restraints
- Stringent Regulatory Guidelines and High Cost of Drug Approval
- Lack of Awareness About Microcatheters in Underdeveloped or Emerging Countries
Opportunities
- Rising Number of Patients Suffering from Chronic Diseases and Cancer Globally
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Microcatheter Market, by Product
7 Microcatheters Market, by Product Design
8 Microcatheters Market, by Application
9 Microcatheters Market, by End-user
10 Microcatheters Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Angiodynamics
- Asahi Intecc Co., Ltd.
- B. Braun Melsungen Ag
- Becton, Dickinson and Company
- Boston Scientific Corporation
- BTG PLC
- Cardinal Health
- Cook Medical Group
- Embolx Inc.
- Guerbet LLC
- Integer Holdings Corporation
- Johnson & Johnson
- Kaneka Corporation
- Libatape Pharmaceutical Co., Ltd.
- Medtronic plc
- Merit Medical Systems, Inc.
- Microvention Terumo
- Penumbra
- Reflow Medical
- Spartan Micro
- Stryker
- Teleflex
- Terumo Medical Corporation
- Tokai Medical
- Transit Scientific
- Trisalus Life Sciences, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/razknj
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