Microcatheter Market Size and Growth Rate:
The global microcatheter market was estimated at US$ 162.3 Mn in 2017 and is poised to reach USD 304.5 Million in 2023 from USD 162.3 million in 2017 and this market witnessed a growth rate of 7.5% during the forecast period 2018-2023.
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Microcatheter Market Demand, 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.
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.
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 Insights:
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.
Top Companies are listed in this Microcatheter Market Report:
· Boston Scientific Corporation
· Codman Neuro
· Asahi Intecc USA, Inc.
· Merit Medical Systems, Inc.
· Terumo Medical Corporation
· Tokai Medical Products, Inc.
· Penumbra, Inc
· 10+ More Key Players
Microcatheter Market Key Segmentation:
Microcatheter Market - By Indication:
- Peripheral vascular
Microcatheter Market - By End User:
- Specialized clinics
- Outpatient surgery centers
Microcatheter Market – By Geographical Analysis:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key Takeaways from this Report:
- For different product types, end-use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the Microcatheter Market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the global Microcatheter Marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide Microcatheter Market in over 20 top nations.
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