Microcatheter Market Report Growth Analysis Forecast to 2023 | Research Cosmos

Microcatheter Market Size and Growth Rate:

According to the Research Report by Research Cosmos, The global Microcatheter Market Size was estimated at USD 162.3 Million in 2017 and is expected to reach nearly USD 304.50 Million by 2023, increasing at a CAGR of around 7.50% from 2018 to 2023.

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Microcatheter Market Overview:

Embolization is minimally invasive cryosurgery that marks a significant improvement in medical technology. Embolization procedures are used in the therapy of cerebral aneurysms and peripheral vascular disorders. Adoption of minimally invasive surgeries has been growing significantly due to various advantages including less blood loss, reduced hospital stays, less post-operative pain, and faster recovery. This is likely to propel the microcatheters market during the projected period

Microcatheter Market Growth Drivers and Restraints:

Growing target patient population of cardiovascular disorders, neurovascular diseases, and cancer; increasing adoption of minimally invasive surgical procedures (which utilizes microcatheters); and the growing number of microcatheter-assisted clinical research studies are the major circumstances driving the growth of this market.

Increase in the number of hospitals, improvements in reimbursement policies, an increase in incidences of cardiovascular diseases is expected to drive the global microcatheter market. The specialty clinics section is likely to create opportunities in the Asia Pacific. Increase in health care infrastructure in developing countries and rise in technological improvements are expected to drive the microcatheters market during the projection period.

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Microcatheter Market Geographical Segmentation:

The world microcatheters market is divided into five regional segments, namely, Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America is expected to account for the largest share in the global market in 2018. However, APAC is anticipated to grow at the highest CAGR during the projected period. Emerging economies in the region such as China, India, and South Korea along with advanced markets such as Japan and Australia are offering high-growth possibilities for market players in the field of microcatheters. This can be attributed to circumstances such as the presence of a large patient pool, rising prevalence &incidence of target diseases, improving healthcare infrastructure in Asian nations, and favorable government initiatives.

Key players of the Microcatheter Market:

The important players operating in the microcatheters market include Boston Scientific Corporation (US), MERIT MEDICAL SYSTEMS, Medtronic Plc (Ireland), Terumo Corporation (Japan), ASAHI INTECC CO., LTD. (Japan), INC. (US), Teleflex Incorporated (US), Cook Group Incorporated (US), Johnson and Johnson (US), Stryker Corporation (US), Cardinal Health, Inc. (the US), Becton, AngioDynamics, Inc. (US), Dickinson and Company (US), B. Braun Melsungen AG (Germany), Penumbra (US), and BTG PLC (UK), among others.

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