Microcatheters Market Projected to Cross US$ 924 Million – Overview by Cardiovascular Diseases, Neurovascular Disorders and Cancer Applications to 2024
Microcatheters market is segmented into delivery microcatheters, aspiration microcatheters, diagnostic microcatheters, and steerable microcatheters. High growth of this segment is attributed to the growing number of target medical procedures across major countries coupled with the wide availability of a range of delivery microcatheters.
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Growth of microcatheters market is primarily driven by majorly driven by growth in target patient population (suffering from cardiovascular diseases, neurovascular disorders, and cancer), rising adoption of minimally invasive surgical procedures, and the increasing number of microcatheter-assisted clinical research studies.
The global microcatheters market is projected to reach USD 924 Million by 2024 from USD 688 Million in 2018, at a CAGR of 5.0% from 2018 to 2024. The microcatheters market is segmented into delivery microcatheters, aspiration microcatheters, diagnostic microcatheters, and steerable microcatheters. The delivery microcatheters segment is expected to account for largest share of microcatheters market in 2018. The cardiovascular applications segment is estimated to command the largest share of the microcatheters market in 2018.
The steerable microcatheters segment is expected to grow at fastest CAGR during forecast period owing to the growing number of image-guided and minimally invasive medical procedures across major countries, shift from manually operated devices towards robotically operated surgical platforms, rising prevalence of vascular diseases, and the procedural advantages associated with steerable microcatheters.
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Report focuses on Microcatheter in global market, especially in North America, Europe & Asia-Pacific, South America, Middle East and Africa. Microcatheters market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America, & Middle East and Africa. It analyzes opportunities & challenges in market and provides details of competitive landscape for market leaders.
Breakdown of supply-side primary interviews:
- By Company Type: Tier 1 -45%, Tier 2 -34%, and Tier 3 -21%
- By Designation:C-level10%, Director-level14%, and Others -76%
- By Region: North America -31%, Europe- 33%, APAC -19%, and RoW- 17%
Major players in market include Boston Scientific Corporation (US), Medtronic Plc (Ireland), Terumo Corporation (Japan), ASAHI INTECC CO., LTD. (Japan), MERIT MEDICAL SYSTEMS, INC. (US), Teleflex Incorporated (US), Johnson and Johnson (US), Stryker Corporation (US), Cook Group Incorporated (US), Cardinal Health, Inc. (US), Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), AngioDynamics, Inc. (US), Penumbra (US), and BTG PLC (UK), among others.
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North America is expected to account for largest share in the global microcatheters market in 2018. However, APAC is expected to grow at the highest CAGR during the forecast period. Emerging economies in the region such as India, China, and South Korea along with developed markets such as Japan and Australia are offering high-growth opportunities for market players in the field of microcatheters.
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It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions and the respective countries in these regions.
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