Albany NY, United States: Transparency Market Research has published a new report titled, “Microcatheter Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”.
Albany NY, United States: Transparency Market Research (TMR) has published a new report titled, “Microcatheter Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global microcatheter market was valued at US$ 162.3 Mn in 2017 and is anticipated to reach nearly US$ 304.5 Mn by 2026, expanding at a CAGR of around 7.5% from 2018 to 2026. Rise in adoption of minimally invasive procedures, technological advancements, increase in target patient population are likely to fuel the global microcatheter market from 2018 to 2026. Improved hospital infrastructure in developed markets such as North America and Europe, rise in medical tourism in Asia Pacific, and advantages of minimally invasive procedures are expected to drive the microcatheter market during the forecast period.
Rise in Adoption of Minimally Invasive Surgeries to Propel Market
Embolization is a minimally invasive surgery that marks a significant advancement in medical technology. Embolization procedures are used in the treatment of cerebral aneurysms and peripheral vascular diseases. Adoption of minimally invasive surgeries has been increasing significantly due to various advantages including less post-operative pain, less blood loss, reduced hospital stay, and faster recovery. This is likely to propel the microcatheters market during the forecast period.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=35942
Increase in target patient population and Technological Advancements
Increase in the geriatric population, which is prone to neurovascular and cardiovascular diseases, is projected to drive the microcatheter market. According to the National Institute of Neurological Disorders and Stroke, nearly 30,000 people in the U.S. suffer a brain aneurysm rupture each year.
According to the American Heart Association, cardiovascular diseases account for around 17.3 million deaths each year, which is expected to increase to about 23.6 million by 2030. Technological advancements such as introduction of double coaxial guiding catheter technique, which is employed to treat chronic total occlusion (CTO) is driving the market. This technique places one guide catheter inside another. The advantages of passive support provided by a large guide catheter are combined with the ability to actively engage the smaller catheter into the target vessel. These developments are likely to add value to microcatheters and drive the global microcatheter market
Request Sample of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=35942
Product Recall and Stringent Regulatory Requirement to Restrain Market
Several microcatheters witnessed recalls in the last few years due to defects in the products. This is expected to impact the demand for these devices. Product recalls also have a negative impact in the future profitability and adoption of these procedures by patients. In October 2016, Medtronic recalled certain lots of pipeline embolization device, Alligator retrieval device, and X-Celerator hydrophilic guide wire. The recall also included the stylet containing UltraFlow flow directed microcatheters and marathon flow directed microcatheters.
Product approvals and launch of medical devices are governed by various regulations established by the U.S. FDA and other regulatory bodies operating in each country. The U.S. FDA continues to increase testing and documentation required for the clearance of devices. Similar regulations are noted in the European Union (EU), Japan, and China. The various levels of approval processes can delay the product release in the market, which could have a negative impact on revenue
Request for Analysis of COVID-19 Impact on Microcatheter Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=35942
Market in Asia Pacific to Register Exponential Growth
In terms of revenue, the microcatheter market in Asia Pacific is expected to expand at a CAGR of 7.8% during the forecast period. Increase in product launches is expected to drive the Asia Pacific microcatheter market. In 2018, ASAHI received chronic total occlusion (CTO) approvals for Corsair Pro Micro catheters and its Coronary Guide Wires to the include MIRACLEbros series, CONFIANZA series, FIELDER series, and Gaia series.
According to the World Health Organization, most of the financial burden in health care is the responsibility of governments of countries in Asia Pacific. For instance, in China, more than 95% of health care coverage is under public insurance schemes, which lay emphasis on catastrophic diseases and inpatient services.
Enquiry Before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=35942
Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics and Asahi Intecc USA, Inc. to Lead the Market
The report also provides profiles of leading players operating in the global microcatheter market, which include Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics, Asahi Intecc USA, Inc., Merit Medical Systems, Inc., Stryker, Terumo Medical Corporation, Tokai Medical Products, Inc., and Penumbra, Inc.
Browse more Reports by Transparency Market Research:
Antimicrobial Susceptibility Test Market: Investments in cutting edge research; rising emphasis on remedies for drug and environmental concerns, increasing incidence of infectious diseases and rising antibiotic resistance are projected to drive the global antimicrobial susceptibility test market during the forecast period.
Fabry Disease Treatment Market: Types of treatment is likely to be the key factors in which the global fabry disease treatment market can be categorized. Substrate reduction therapy (SRT), chaperone treatment, enzyme replacement therapy (ERT), and others are the therapies available in this market. Among these, enzyme replacement therapy is standardized for disease management.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453