Portland, OR, Nov. 18, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global microcatheters market generated $748.9 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $748.9 million |
| Market Size in 2031 | $1.2 billion |
| CAGR | 5.2% |
| No. of Pages in Report | 132 |
| Segments Covered | Product Type, Application, Product Design, End User, and Industry Vertical |
| Drivers | Rise in geriatric population that are prone to chronic heart diseases and cancer |
| Increase in prevalence of cardiovascular diseases | |
| Opportunities | Development of the healthcare sector across the globe |
| Restraints | Lack of skilled professionals for minimal invasive procedure |
| High cost of microcatheters in developing nations |
Covid-19 scenario:
- The Covid-19 pandemic had a negative impact on the market as several surgeries for heart and of cancer patients were postponed and instead home care setting was preferred.
- Moreover, non-essential surgical procedures took a potential backlog. Discovery and development of microcatheters is slowing down during pandemic but did not stop.
The global microcatheters market is segmented into product type, application, product design, end user, and industry vertical. Based on product design, the dual lumen microcatheter segment held the lion’s share in 2021, accounting for more than three-fifths of the market. Moreover, the segment is expected to manifest the highest CAGR of 5.3% during the forecast period.
On the basis of end user, the hospitals and clinics segment dominated the market in 2021, contributing to more than two-thirds of the market. On the contrary, the ambulatory surgical centers segment is expected to register the highest CAGR of 5.8% during the forecast period.
Based on product type, the aspiration microcatheter segment held the largest share in 2021, accounting for more than one-third of the market. However, the steerable microcatheter segment is projected to showcase the highest CAGR of 6.2% during the forecast period.
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On the basis of application, the neurovascular segment is expected to register the highest CAGR of 6.1% during the forecast period. However, the cardiovascular segment held the largest share in 2021, contributing to more than one-fourth of the market.
The global microcatheters market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2021, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 6.9% during the forecast period.
The global microcatheters market includes an in-depth analysis of the prime market players such as Asahi Intecc Co., Ltd., Boston Scientific Corporation, Cardinal Health, Inc., Cook Group Incorporated, Johnson And Johnson, Medtronic Plc, Merit Medical Systems, Inc., Stryker Corporation, Teleflex Incorporated, Terumo Corporation.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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