Global Microcatheters Market, By Type (Delivery, Diagnosis, Aspiration, Steerable), Design (Single, Dual Lumen), Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology, Urology), End-User (Hospital, Specialty Clinics), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021-2027
- Published Date: June 2021
- Report ID: BWC20396
- Available Format: PDF
- Page: 161
Report Overview
The delivery devices majorly used in minimally invasive applications are called microcatheters. These devices are used majorly in both the medical device and healthcare industries. Micro-catheters are utilized to reach the body's tiny, microscopic blood vessels.Global Microcatheters Market Size - Industry Trends & Forecast Report 2027
The Global Microcatheters Market was worth USD USD 715.9 Million in 2020 and is further projected to reach USD 1,057.8 Million by 2027, at a CAGR of 5.6% during 2021-2027 (forecast period). Microcatheters are thin-walled delivery device, which primarily used in minimally invasive procedures. Microcatheters are in high demand due to an increase in the number of heart disorders, neurovascular diseases, and cancer cases across the globe. In addition, people nowadays prefer non-invasive procedures for surgeries or diagnostic purposes, which contributes to the growing demand for microcatheters. Also, technological advancements are playing a key role in the growth of the global microcatheters market.
Source: BlueWeave Consulting
Global Microcatheters Market Overview:
The delivery devices majorly used in minimally invasive applications are called microcatheters. These devices are used majorly in both the medical device and healthcare industries. Micro-catheters are utilized to reach the body's tiny, microscopic blood vessels. These catheters are widely used in the neurovascular domain because they allow doctors to navigate the complex network of blood vessels that make up the human body. The growth of the microcatheters market is fueled by an increase in the occurrence of cardiovascular and neurovascular illnesses, as well as an increase in the elderly population. However, the market for microcatheters is stifled by strict laws and restrictions, as well as a scarcity of qualified professionals.
Global Microcatheters Market Forecast and Trends
Growth Drivers
Increasing Prevalence of Cardiovascular Diseases
Cardiovascular Diseases are a category of ailments affecting the heart and blood arteries, including cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Elevated blood pressure, glucose, lipids, and weight, and obesity are the most common symptoms among people at risk of CVDs. All these symptoms can be easily measured in initial care facilities. People at high risk of CVD can receive appropriate treatment, which can help them avoid dying too young. CVDs are among the top 10 leading causes of death worldwide that affect more people than any other disease. The increasing cases of CVD are responsible for driving the growth of the global microcatheters market.
The increasing number of government initiatives and programs
The global microcatheter market is driven by an increase in government strategies to encourage better facilities. For example, the Brazilian government has adopted special regulations that allow foreign doctors from the United States, the United Kingdom, and other parts of the world to join and improve health care services and performs in the country. These kinds of campaigns are propelling the microcatheter industry forward. Furthermore, the microcatheters market is expected to grow during the forecast period due to an increase in strategic collaborations, as well as mergers and acquisitions, and growing recommendations for the usage of microcatheters.
Restraints
High cost of microcatheters and lack of awareness in developing countries
Reasons restraining the microcatheter market's growth are the high cost of microcatheters and lack of awareness among people, particularly in developing countries. Microcatheters are significantly more expensive for middle-class individuals, thus they frequently reconsider the use of microcatheters due to cost concerns. Furthermore, developing countries, such as a few countries in the Asia Pacific, the Middle East, and Africa, lack adequate access to essential healthcare services. However, healthcare facilities are currently improving and expanding in Asian countries due to a huge population and the rising prevalence of diseases.
Impact of COVID-19 in the industry
Various neurovascular and cardiovascular surgical procedures were negatively impacted during the early stages of the COVID-19 outbreak. Because of the rising prevalence of coronavirus infection among hospitalized patients, there is a considerable risk of infection during surgical procedures, which is one of the main factors contributing to a reduction in surgical procedures. However, as the number of coronavirus cases is declining in some countries, the market for microcatheters is reviving. Furthermore, organizational alliances and government initiatives aimed at delivering clinical emergency treatment to patients with cardiac diseases have kept the business afloat.
Global Microcatheters Market: By Type
Based on types, the global microcatheters market is divided into Delivery, Diagnosis, Aspiration, and Steerable. Among all these segments, the steerable microcatheters segment is predicted to grow with the maximum CAGR during the forecast period. The procedural advantages of steerable microcatheters are the primary reason behind the growth of this segment. Furthermore, an increasing number of image-guided and minimally invasive medical procedures across economies are some additional factors aiding the growth of this segment. Also, the rising acceptance of robotically operated surgical procedures and the rising incidences of vascular diseases are contributing to the growth of the global microcatheters market.
Global Microcatheters Market: By Application
Based on applications, the global microcatheters market is categorized into Cardiovascular, Neurovascular, Peripheral Vascular, Oncology, and Urology. During the forecast period, the neurovascular segment is likely to witness the highest growth. In 2016, cerebrovascular stroke was the second most common cause of death and the third leading cause of disability.
The primary reasons for stroke are hypertension, cigarette smoking, and diabetes. Thus, a growing number of neurological procedures is resulting in the growing demand for microcatheters worldwide.
Global Microcatheters Market: By End User
Based on end-users, the global microcatheters market is divided into Hospitals and Specialty Clinics. The hospital segment dominates the global microcatheter market and is likely to maintain its dominance even in the forecast period. The global microcatheter market is expected to be driven by an increase in the number of hospitals, better reimbursement policies, and an increase in the number of cardiovascular disorders.
On the other hand, in the Asia Pacific, the specialty clinics segment is likely to create immense lucrative opportunities. During the forecast period, APAC's microcatheters market is likely to be driven by technical advancements and improved healthcare infrastructure in emerging countries.
Global Microcatheters Market – Regional Insights
Based on region, the global microcatheters market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all the regions, North America holds the largest market share owing to the growing number of healthcare facilities in the region. Additionally, growing government initiatives to spread awareness regarding chronic complaints, and a significant incidence of heart disease and stroke in the region are also contributing to the growth of the microcatheters market in North America. Furthermore, an increase in the demand for minimally invasive techniques and the accessibility of technologically advanced products contribute to the regional market growth. On the other hand, due to the rising aging population, increasing incidence of chronic illnesses, vast population base, better diagnostic excellence, and increasing patient affordability, Asia Pacific is expected to grow at the fastest CAGR throughout the forecast period.
Recent Developments
- In January 2021, Asahi Intecc USA announced that its direct sales team will sell the Neurovascular portfolio, consisting of Chikai Guide Wires and Fubuki Guide Catheters and Sheaths.
- In May 2020, Tokai Medical Products, Inc. announced CE Mark approval for the Rescue balloon occlusion catheter, a low-profile device designed for Resuscitative Endovascular Balloon Occlusion of the Aorta (REBOA).
Competitive Landscape
The key players in the global microcatheters market are 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. and other key manufacturers.
The key players are adopting growth plans to increase their product offerings, and strengthen their geographical reach besides surging customer base to capture the large market share. Additionally, many leading players are struggling to bring more technologically advanced instruments to the market. However, strict regulatory practices, product recalls, and a lack of skilled medical professionals act as an essential restraint to the global microcatheters market.
Scope
|
Attribute |
Details |
|
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
|
Facts Covered |
Revenue in USD Million |
|
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia |
|
Product/Service Segmentation |
By Type, By Design, By Application, By End Users, By Region |
|
Key Players |
Key players in the global microcatheters market are 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. and other key manufacturers. |
· By Type
o Delivery
o Diagnosis
o Aspiration
o Steerable
· By Design
o Single
o Dual Lumen
· By Application
o Cardiovascular
o Neurovascular
o Peripheral Vascular
o Oncology
o Urology
· By End User
o Hospital
o Specialty Clinics
· By Region
o North America
o Latin America
o Europe
o Asia Pacific
o Middle East
o Africa
FAQs
1. What is the current size of the global microcatheters market?
Answer: Global microcatheters market has reached USD 715.9 Million in 2020.
2. What are the major factors driving the growth of the global microcatheters market?
Answer: Increasing number of heart diseases, neurovascular diseases, and cancer majorly contribute to the demand of the microcatheters market. In addition, people are looking for non-invasive procedures for surgeries or diagnostic purposes, and technologically advanced products, which in turn is contributing to the growth of the microcatheters market.
3. Who are the key players in the global microcatheters market?
Answer: The key players in the global microcatheters market are 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. and other key manufacturers.
4. Based on product, which segment accounted for the largest share in the global microcatheters market?
Answer: The steerable segment accounted for the largest share in the global microcatheters market.
5. Which end-user segment accounted for the largest share in the global microcatheters market?
Answer: The hospital segment is growing at a higher rate in the global microcatheters market.
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Microcatheters Market Insights
4.1. DROC Analysis
4.1.1. Growth Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. Recent Development
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Intensity of Rivalry
4.4 Value Chain Analysis
4.5 Key Strategic Developments
5. Global Microcatheters Market Overview
5.1. Market Size & Forecast by Value, 2017-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Type
5.2.1.1. Delivery
5.2.1.2. Diagnosis
5.2.1.3. Aspiration
5.2.1.4. Steerable
5.2.2. By Design
5.2.2.1. Single
5.2.2.2. Dual-Lumen
5.2.3. By Application
5.2.3.1. Cardiovascular
5.2.3.2. Neurovascular
5.2.3.3. Peripheral Vascular
5.2.3.4. Oncology
5.2.3.5. Urology
5.2.4. By End User
5.2.4.1. Hospital
5.2.4.2. Speciality Clinics
5.2.5. By Region
5.2.5.1. North America
5.2.5.2. Latin America
5.2.5.3. Europe
5.2.5.4. Asia Pacific
5.2.5.5. Middle East
5.2.5.6. Africa
6. North America Microcatheters Market
6.1. Market Size & Forecast by Value, 2017-2027
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Design
6.2.3. By Application
6.2.4. By End User
6.2.5. By Country
6.2.5.1. United States
6.2.5.2. Canada
7. Europe Microcatheters Market
7.1. Market Size & Forecast by Value, 2017-2027
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Design
7.2.3. By Application
7.2.4. By End User
7.2.5. By Country
7.2.5.1. Germany
7.2.5.2. Poland
7.2.5.3. Russia
7.2.5.4. Italy
7.2.5.5. France
7.2.5.6. United Kingdom
7.2.5.7. Spain
7.2.5.8. Rest of Europe
8. Asia Pacific Microcatheters Market
8.1. Market Size & Forecast by Value, 2017-2027
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Design
8.2.3. By Application
8.2.4. By End User
8.2.5. By Country
8.2.5.1. China
8.2.5.2. India
8.2.5.3. Japan
8.2.5.4. Malaysia
8.2.5.5. Singapore
8.2.5.6. Rest of Asia Pacific
9. Latin America Microcatheters Market
9.1. Market Size & Forecast by Value, 2017-2027
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Design
9.2.3. By Application
9.2.4. By End Users
9.2.5. By Country
9.2.5.1. Brazil
9.2.5.2. Mexico
9.2.5.3. Rest of Latin America
10. Middle East & Africa Microcatheters Market
10.1. Market Size & Forecast by Value, 2017-2027
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Design
10.2.3. By Application
10.2.4. By End User
10.2.5. By Country
10.2.5.1. Saudi Arabia
10.2.5.2. UAE
10.2.5.3. South Africa
10.2.5.4. Rest of Middle East & Africa
11. Competitive Landscape
11.1. List of Key Players and Their Offerings
11.2. Market/Ranking Share Analysis
11.3. Competitive Benchmarking, By Operating Parameters
12. COVID-19 Impact
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
14.1. Boston Scientific Corporation
14.2. Codman Neuro
14.3. Medtronic
14.4. Biometrics
14.5. Asahi Intecc USA, Inc.
14.6. Merit Medical Systems, Inc.
14.7. Stryker
14.8. Terumo Medical Corporation
14.9. Tokai Medical Products, Inc.
14.10. Penumbra, Inc.
14.11. Other Prominent Players
14. Key Strategic Recommendations
* Financial information of non-listed Companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.
List of Figures
Fig: Global Microcatheters Market Segmentation
Fig: Global Microcatheters Market Value Chain Analysis,
Fig: Company Market Share Analysis, 2020
Fig: Global Microcatheters Market Size, By Value (USD Million), 2017-2027
Fig: Global Microcatheters Market Share (%), By Type, By Value, 2017-2027
Fig: Global Microcatheters Market Share (%), By Design, By Value, 2017-2027
Fig: Global Microcatheters Market Share (%), By Application, By Value, 2017-2027
Fig: Global Microcatheters Market Share (%), By End Users, By Value, 2017-2027
Fig: Global Microcatheters Market Share (%), By Country, By Value, 2017-2027
Fig: North America Microcatheters Market Size, By Value (USD Million), 2017-2027
Fig: North America Microcatheters Market Share (%), By Type, By Value, 2017-2027
Fig: North America Microcatheters Market Share (%), By Design, By Value, 2017-2027
Fig: North America Microcatheters Market Share (%), By Application, By Value, 2017-2027
Fig: North America Microcatheters Market Share (%), By End Users, By Value, 2017-2027
Fig: North America Microcatheters Market Share (%), By Country, By Value, 2017-2027
Fig: Europe Microcatheters Market Size, By Value (USD Million), 2017-2027
Fig: Europe Microcatheters Market Share (%), By Type, By Value, 2017-2027
Fig: Europe Microcatheters Market Share (%), By Design, By Value, 2017-2027
Fig: Europe Microcatheters Market Share (%), By Application, By Value, 2017-2027
Fig: Europe Microcatheters Market Share (%), by End Users, By Value, 2017-2027
Fig: Europe Microcatheters Market Share (%), By Country, By Value, 2017-2027
Fig: Asia-Pacific, Microcatheters Market Size, By Value (USD Million), 2017-2027
Fig: Asia-Pacific, Microcatheters Market Share (%), By Type, By Value, 2017-2027
Fig: Asia-Pacific, Microcatheters Market Share (%), By Design, By Value, 2017-2027
Fig: Asia-Pacific, Microcatheters Market Share (%), By Application, By Value, 2017-2027
Fig: Asia-Pacific, Microcatheters Market Share (%), By End Users, By Value, 2017-2027
Fig: Asia-Pacific, Microcatheters Market Share (%), By Country, By Value, 2017-2027
Fig: Latin America Microcatheters Market Size, By Value (USD Million), 2017-2027
Fig: Latin America Microcatheters Market Share (%), By Type, By Value, 2017-2027
Fig: Latin America Microcatheters Market Share (%), By Design, By Value, 2017-2027
Fig: Latin America Microcatheters Market Share (%), By Application, By Value, 2017-2027
Fig: Latin America Microcatheters Market Share (%), By End Users, By Value, 2017-2027
Fig: Latin America Microcatheters Market Share (%), By Country, By Value, 2017-2027
Fig: Middle East & Africa Microcatheters Market Size, By Value (USD Million), 2017-2027
Fig: Middle East & Africa Microcatheters Market Share (%), By Type, By Value, 2017-2027
Fig: Middle East & Africa Microcatheters Market Share (%), By Design, By Value, 2017-2027
Fig: Middle East & Africa Microcatheters Market Share (%), By Application, By Value, 2017-2027
Fig: Middle East & Africa Microcatheters Market Share (%), By End Users, By Value, 2017-2027
Fig: Middle East & Africa Microcatheters Market Share (%), By Country, By Value, 2017-2027
List of Tables
Table: Global Microcatheters Market Size, By Type, By Value (USD Million), 2017-2027
Table: Global Microcatheters Market Size, By Design, By Value (USD Million), 2017-2027
Table: Global Microcatheters Market Size, By Application, By Value (USD Million), 2017-2027
Table: Global Microcatheters Market Size, By End Users, By Value (USD Million), 2017-2027
Table: Global Microcatheters Market Size, By Region, By Value (USD Million), 2017-2027
Table: North America Microcatheters Market Size, By Type, By Value (USD Million), 2017-2027
Table: North America Microcatheters Market Size, By Design, By Value (USD Million), 2017-2027
Table: North America Microcatheters Market Size, By Application, By Value (USD Million), 2017-2027
Table: North America Microcatheters Market Size, By End Users, By Value (USD Million), 2017-2027
Table: North America Microcatheters Market Size, By Country, By Value (USD Million), 2017-2027
Table: Europe Microcatheters Market Size, By Type, By Value (USD Million), 2017-2027
Table: Europe Microcatheters Market Size, By Design, By Value (USD Million), 2017-2027
Table: Europe Microcatheters Market Size, By Application, By Value (USD Million), 2017-2027
Table: Europe Microcatheters Market Size, By End User, By Value (USD Million), 2017-2027
Table: Europe Microcatheters Market Size, By Country, By Value (USD Million), 2017-2027
Table: The Asia-Pacific Microcatheters Market Size, By Type, By Value (USD Million), 2017-2027
Table: The Asia-Pacific Microcatheters Market Size, By Design, By Value (USD Million), 2017-2027
Table: The Asia-Pacific Microcatheters Market Size, By Application, By Value (USD Million), 2017-2027
Table: The Asia-Pacific Microcatheters Market Size, By End User, By Value (USD Million), 2017-2027
Table: The Asia-Pacific Microcatheters Market Size, By Country, By Value (USD Million), 2017-2027
Table: Latin America Microcatheters Market Size, By Type, By Value (USD Million), 2017-2027
Table: Latin America Microcatheters Market Size, By Design, By Value (USD Million), 2017-2027
Table: Latin America Microcatheters Market Size, By Application, By Value (USD Million), 2017-2027
Table: Latin America Microcatheters Market Size, By End User, By Value (USD Million), 2017-2027
Table: Latin America Microcatheters Market Size, By Country, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Microcatheters Market Size, By Type, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Microcatheters Market Size, By Design, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Microcatheters Market Size, By Application, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Microcatheters Market Size, By End User, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Microcatheters Market Size, By Country, By Value (USD Million), 2017-2027
Table: Boston Scientific Corporation Financial Analysis
Table: Boston Scientific Corporation Business Overview
Table: Codman Neuro, Financial Analysis
Table: Codman Neuro, Business Overview
Table: Medtronic Financial Analysis
Table: Medtronic Business Overview
Table: Biometrics Financial Analysis
Table: Biometrics Business Overview
Table: Asahi Intecc USA, Inc. Financial Analysis
Table: Asahi Intecc USA, Inc. Business Overview
Table: Merit Medical Systems, Inc. Financial Analysis
Table: Merit Medical Systems, Inc. Business Overview
Table: Stryker Financial Analysis
Table: Stryker Business Overview
Table: Terumo Medical Corporation Financial Analysis
Table: Terumo Medical Corporation Business Overview
Table: Tokai Medical Products, Inc Financial Analysis
Table: Tokai Medical Products, Inc Business Overview
Table: Penumbra, Inc Financial Analysis
Table: Penumbra, Inc Business Overview
Market Segmentation
- By Type
- Delivery
- Diagnosis
- Aspiration
- Steerable
- By Design
- Single
- Dual Lumen
- By Application
- Cardiovascular
- Neurovascular
- Peripheral Vascular
- Oncology
- Urology
- By End User
- Hospital
- Specialty Clinics
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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