The global “microcatheter market” is set to gain impetus from their ever-increasing usage in a wide range of therapeutic and diagnostic procedures.This information is published by Fortune Business Insights™ in an upcoming report, titled, “Microcatheter Market Size, Share & Industry Analysis, By Indication (Neurovascular, Coronary, and General Peripheral Vascular), By Product (Single Lumen, Dual Lumen), By End-User (Hospitals, Specialty Clinics, and Ambulatory Surgery Centers) and Regional Forecast, 2020-2027.” The report further mentions that microcatheters are gaining more popularity because of the surging initiatives by government agencies of various countries to enhance their healthcare infrastructures.
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A list of all the renowned microcatheter manufacturers operating in the global market:
- Boston Scientific Corporation
- Codman Neuro
- Asahi Intecc USA, Inc.
- Merit Medical Systems, Inc.
- Terumo Medical Corporation
- Teleflex Incorporated.
- Penumbra, Inc.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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To get the short-term and long-term impact of COVID-19 on this Market.
How Did We Conduct Our Research?
The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down methods to calculate the market size.
Drivers & Restraints-
Rising Healthcare Expenditure to Bolster Growth
The increasing prevalence of cardiovascular and neurovascular diseases worldwide is set to drive the microcatheter market growth in the near future. Besides, the improvements in healthcare infrastructures, as well as the surging healthcare spending would also accelerate growth. However, the high cost of drug approval and strict regulatory guidelines may hinder growth.
Increasing Number of AngiographyProcedures to Favor Growth in Europe
Regionally, North America is set to procure the highest microcatheter market share in the near future and retain its dominant position. This growth is attributable to the high per capita health care expenditure and rising cases of cardiovascular diseases in the region. Besides, the availability of advanced healthcare facilities in the region would also contribute to this growth. Europe, on the other hand, is anticipated to remain in the second position because of the rapid expansion of the healthcare sector, as well as the rising number of PCI and angiographyprocedures.
In Asia Pacific, the surging incidence of heart diseases, improvements in healthcare facilities, and increasing aging population would propel growth. Developing countries, such as India and China are set to majorly contribute to this growthbecause of the new product launches, growing economy, and large population base.
Key Players Focus on Gaining Marketing Approvals & Launching Novel Products to Intensify Competition
The global market contains numerous big, small, and medium companies that are mainly focusing on introducing state-of-the-art microcatheters to cater to the increasing demand from patients and healthcare institutions alike. Some of the others are aiming to receive approvals from regulatory bodies to distribute their products. Below are the two latest industry developments:
- December 2020:Bendit Technologiesannounced the development of its novel microcatheters that can navigate to the brain more precisely and quickly than the existing ones in the market. Doctors will be able to control the tip of the microcatheter with a small button and a handle from the outside of the body.
- July 2020: Cerus Endovascular Ltd. bagged the CE Mark approval forCerusEndo MC 021, its novel microcatheter. It enables doctors to deliver therapeutic devices and gain access to tortuous neurovasculature for intended targets.
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What are the key segments in the market?
- General Peripheral Vascular
- Single Lumen
- Dual Lumen
- Specialty Clinics
- Ambulatory Surgery Centers
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
With tables and figures helping analyse worldwide Global Microcatheter Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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