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
NEW YORK, April 10, 2019 /PRNewswire/ -- The global microcatheters market is projected to grow at a CAGR of 5.0% during the forecast period
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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. Growth in this market is primarily driven by the growth in the 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. However, the premium product pricing, unfavorable taxation policies, and trade barriers are expected to limit market growth to a certain extent.
The delivery microcatheters segment is expected to account for the largest market share of global microcatheters market in 2018
Based on product type, 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 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.
The cardiovascular application segment accounted for the largest share of the microcatheters market in 2018
Based on application, the microcatheters market is segmented into cardiovascular, neurovascular, peripheral vascular, oncological, urological, otolaryngologic, and other applications. The cardiovascular applications segment is estimated to command the largest share of the microcatheters market in 2018.
North America to account for the largest share of the global market in 2018
The microcatheters market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America to accounted for a largest share in 2018. The high number of cardiovascular, neurovascular, and other target procedures performed in the region coupled with large patient pool, presence of a well-established healthcare system, and on-going investments by hospitals to upgrade their operating rooms are the key factors contributing to the large share of this regional market
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 - 45%, Tier 2 - 34%, and Tier 3 - 21%
• By Designation: C-level 10%, Director-level 14%, and Others - 76%
• By Region: North America - 31%, Europe - 33%, APAC - 19%, and RoW - 17%
The major players in the 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.
Research Coverage
This report studies the microcatheters market based on product type, product design, application, end user, and region.The report also studies factors such as drivers, restraints, opportunities, and challenges affecting market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets 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.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market shares of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the microcatheters market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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