NEW YORK, United States, Oct. 05, 2022 (GLOBE NEWSWIRE) -- According to 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 2020 – 2026” in its research database.
“According to the latest research study, the demand of global Microcatheters Market size & share in terms of revenue was worth of USD 760 Million in 2020 and it is expected to surpass around USD 1,800 Million mark by 2026, growing at a compound annual growth rate (CAGR) of approximately 8.2% during the forecast period 2021 to 2026.”
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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Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 760 Million |
| Projected Market Size in 2026 | USD 1,800 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, End-User, Application, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Industry Growth Factors
The global microcatheters market is strongly driven by forces guided by a rise in increasing chronic disorders among the advanced population related to cardiovascular, neurovascular, and cancerous conditions coupled with the rising adoption of minimally invasive procedures. Additional factors that can be credited to the drastic rise in microcatheters are advancements in technology along with increased government incentives. Moreover, a rapid change in the sedimentary lifestyle pertains to an increase in habits such as smoking cigarettes, hypertension, and obesity-related disorders will further boost the growth of the microcatheters market to a significant rate.
Advancements in technology such as the rise of use for steerable microcatheters will further augment the market development. Advanced features in the latest iteration of microcatheters such as a reduced failure rate, decrease in procedural time and the real-time ability to change the degree of angulation will open opportunities for the microcatheter market to flourish during the forecast period. Additionally, collaborative efforts from the global organizations and improved medical infrastructure are expected to push the market of microcatheters towards a ballooned state during the forecast.
Browse the full “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 2020 – 2026” Report at https://www.fnfresearch.com/microcatheters-market
Segmentation Analysis
The global microcatheters market can be segmented on the basis of type, design, end-user, applications, and regions.
The global microcatheters market can be broken down into single lumen and dual-lumen microcatheter on the basis of design. The dual lumen microcatheters are expected to witness the highest market share during the forecast period. The latter segment recouped around 70% of the market share during the last iteration of the forecast. The dominant position by the segment can be attributed to the numerous advantages it offers over its counterpart such as easy access to the mentioned site, the ability to tune more than one analgesic infusion during the procedure, and the preferred device to be used for a variety of interventional cardiology procedures. The global microcatheters market can be disintegrated into delivery, aspiration, diagnostic, and steerable microcatheter on the basis of type.
Aspiration microcatheters are expected to dominate the market during the forecast period owing to an increased demand for acute stroke, aneurysms, and peripheral artery-based disorders. Aspiration-based microcatheters also offer additional feasibility such as rapid recanalization, total stoppage of blood flow, and improved preventative abilities for embolism-like conditions during operations. The global microcatheters market can be broken down into cardiology, neurology, peripheral vascular, oncology, urology, otolaryngology, and others. The cardiology segment is expected to dominate the market in terms of revenue during the forecast period owing to the worldwide trend of increase of cardiovascular-related disorders and conditions.
However, the neurology segment will witness the fastest growing CAGR owing to the second and third most cause of disability-related conditions. 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; the growing prevalence of target diseases, and also a surge in the performance of surgical and diagnostic procedures across these facilities.
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Competitive Landscape
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards. Some of the main competitors dominating 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
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Microcatheters market is estimated to grow annually at a CAGR of around 8.2% over the forecast period (2021-2026).
- In Terms Of Revenue, The Microcatheters market size was valued at around US$ 760 Million in 2020 and is projected to reach US$ 1,800 Million by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The hospital category represented the end-user segment that was responsible for the biggest market share.
- The cardiology market segment is expected to have the biggest share of the market based on how it will be used.
- During the period covered by this forecast, the market share in North America will expand at a rate that is highest among other regions.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2026
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Design, Type, End-User, Application, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Regional Analysis:
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.
Recent Developments
- 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.
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The global Microcatheters market is segmented as follows:
By Design Segment Analysis
- Single Lumen Microcatheters
- Dual Lumen Microcatheters
By Type Segment Analysis
- Delivery Microcatheter
- Aspiration Microcatheter
- Diagnostic Microcatheter
- Steerable Microcatheter
By End-User Segment Analysis
- Hospitals
- Surgical Centers
- Specialty Clinics,
- Ambulatory Care Centers
By Application Segment Analysis
- Cardiology
- Neurology
- Peripheral Vascular
- Oncology
- Urology
- Otolaryngology
- Others
By Regional Segment Analysis
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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