Yahoo Finance Microcatheter Market worth $ 2.36 Billion, Globally, by 2028 at 3.61 % CAGR: Verified Market Research™
A rising number of chronic disorders, such as neurovascular diseases, cardiovascular diseases and cancer is expected to contribute to the upswing of the market. Additionally, the increasing adoption of minimally invasive procedures and technologically advanced products are the primary drivers of growth of the market.
Jersey City, New Jersey, May 11, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Microcatheter Market” By Product Type (Delivery, Aspiration, Diagnostic, & Steerable Microcatheters), By End-User (Hospitals, Surgical Centers, and Specialty Clinics & Ambulatory Surgical Centers), By Application (Cardiovascular, Neurovascular, Peripheral Vascular & Others), By Cancer Type (Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, and Other Cancer), By Product Design (Single-Lumen & Dual-Lumen Microcatheters) and By Geography. According to Verified Market Research, the Global Microcatheter Market was valued at USD 1.78 Billion in 2020 and is projected to reach USD 2.36 Billion by 2028, growing at a CAGR of 3.61% from 2021 to 2028.
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Browse in-depth TOC on “Microcatheter Market”
202 - Pages
126 – Tables
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Global Microcatheter Market Overview
The primary growth driver of the Global Microcatheter Market is the increasing adoption of Minimally Invasive Procedures. This can be reinforced by the fact that the minimally invasive surgeries market was valued at USD 1.1 Billion in 2017 and is predicted to grow at a rate of over 8.5% in the years 2018-2026.
Also, a rising number of chronic diseases has also led to the growth of the Microcatheters Market, since a microcatheter is extensively deployed while performing operating procedures for neurovascular and cardiovascular diseases. Such chronic disorders are primarily originated from an unhealthy lifestyle pattern, such as the one involving smoking, or a lifestyle trying to navigate through hypertension and obesity. These are the primary causes of heart diseases and neurovascular strokes.
According to the World Health Organization, in 2016, 71% of the annual deaths worldwide are due to chronic disorders, which amounts to 41 million people. Most chronic disease deaths are due to cardiovascular diseases are a primary reason for these deaths, and with which a fatal impact on 17.9 million people. This is followed by 7 million people dying primarily because of strokes and other neurovascular disorders. Thus, a large number of patients suffering from cardiovascular and neurovascular disorders is majorly driving the market.
Key Developments in Microcatheter Market
• In 2021, Transit Scientific announced it received CE Mark approval in the European Union for its non-tapered metal alloy XO Cross microcatheter platform.
• In April 2019, Medtronic has launched Phenom 21 Microcatheter for the delivery of all sizes of vasculature devices. This device eliminates blood clots from obstructed vessels to restore blood flow in patients with large vessel occlusion.
• In 2018, ASAHI INTECC CO., LTD. (Japan) and Medtronic plc agreed to a partnership to exclusively distribute Asahi Intecc’s Neurovascular Guidewire and catheter in the US market.
The major players in the market are Cook Group Incorporated, Medtronic Plc, Merit Medical Systems, Inc., Stryker Corporation, Terumo Corporation, Penumbra Inc., Boston Scientific Corporation, ASAHI INTECC CO. LTD., AngioDynamics, Inc., Cardinal Health, Inc., among others.
Verified Market Research has segmented the Global Microcatheter Market On the basis of Product Type, End-User, Application, Cancer Type, and Product Design and Geography.
Microcatheter Market by Product Type
Delivery Microcatheters
Aspiration Microcatheters
Diagnostic Microcatheters
Steerable Microcatheters
Microcatheter Market by End User
Hospitals, Surgical Centers, and Specialty Clinics
Ambulatory Surgical Centers
Microcatheter Market by Application
Cardiovascular
Neurovascular
Peripheral Vascular
Oncological
Urological
Otolaryngological
Other Application
Microcatheter Market by Cancer Type
Liver Cancer
Kidney Cancer
Lung Cancer
Bone Cancer
Other Cancer (includes pediatric cancer, prostate cancer, and breast cancer)
Microcatheter Market by Product Design
Single-Lumen Microcatheters
Dual-Lumen Microcatheters
Microcatheter Market by Geography
North America
U.S
Canada
Mexico
Europe
Germany
France
U.K
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
ROW
Middle East & Africa
Latin America
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