Microcatheters Market Demand 2022-2028: Rising Prevalence Of Chronic Illnesses Such As Neurovascular And Cardiovascular Problems
The latest market analysis report published by Reports and Data, titled ‘Global Microcatheters Market – Forecast to 2028,’ thoroughly examines the Microcatheters industry to provide essential data & information for the targeted readers. The report consists of quantitative and qualitative research on the market performed by our market experts. The Microcatheters industry report emphasizes the current and upcoming market revenue growth opportunities and trends. Moreover, the report offers key information on the industry statistics, as well as a wide range of dynamic factors including drivers, restraints, risks, challenges, threats, supply & demand ratios, production & manufacturing capacities, sales & distribution networks, cost & demand volatility, import/export ratios, profit margins, and macro-economic and micro-economic factors. The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview. Our market experts have determined the current financial positions of the leading industry players in the report leveraging advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.
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The global microcatheters market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are rising number of chronic diseases such as cardiovascular, neurovascular, and cancer, as well as increasing use of minimally invasive treatments, technological advancements, and supportive government initiatives to create awareness.
A catheter is a narrow tube constructed of medical-grade materials that are used to perform a variety of tasks. Catheters are medical devices that are introduced into the body to treat illness or perform surgery. Catheters can be tailored for cardiovascular, urological, gastrointestinal, neurovascular, and ophthalmic purposes by altering the material or changing manufacturing process. Microcatheter is a generic catheter with smaller outer diameters (ODs) and inner diameters (IDs). Micro-catheters are used widely in the medical device and healthcare sector. Companies are focusing on creating and promoting goods that fulfil stringent requirements of physicians and healthcare professionals around the world.
The global Microcatheters market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Microcatheters market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
- 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.
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Microcatheters Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Delivery Microcatheter
- Aspiration Microcatheter
- Diagnostic Microcatheter
- Steerable Microcatheter
Product Design Outlook (Revenue, USD Billion; 2018-2028)
- Single Lumen Microcatheter
- Dual Lumen Microcatheter
Application Outlook (Revenue, USD Billion; 2018-2028)
- Peripheral Vascular
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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