Global Microcatheters Market

Microcatheters Market by Product (Delivery, Steerable), Product Design (Single, Dual), Application (Cardiovascular, Oncology), End-User (Hospitals, Ambulatory Surgical Centers), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2967 | Region: Global | Published Date: November, 2024
Pages: 206 | Tables: 94 | Figures: 66

Microcatheters Market Dynamics

Drivers

Demand for Minimally Invasive Procedures

  • Preference and popularity of minimally invasive procedures has increased substantially in recent years. The growing number of hospitals offering these procedures is driving up the demand for microcatheters and other products that make minimally invasive surgeries possible and accessible.

High Incidence of Cardiovascular and Neurovascular Disorders

  • More people are at risk of developing cardiovascular and neurovascular disorders in present times than ever before. This surge in prevalence of these diseases can be attributed to poor lifestyles. Microcatheters play a crucial role in the treatment of these indications thereby driving market growth.

Restraints

Risks and Complications in Procedures

  • While microcatheters enable minimally invasive surgeries for patients, they are not free from risks and complications. Internal bleeding, infections, and blood vessel damage are some key risks and complications that could impede sales of microcatheters over the coming years.

Dearth of Skilled Professionals

  • The healthcare industry is already facing a shortage of skilled medical professionals to handle different tasks and procedures. This trend is also true for microcatheters as they require highly skilled surgeons and medical professionals to manage them. Hence, lack of such professionals could slow down microcatheters market development in the future.
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FAQs

Global Microcatheters Market was valued at USD 860 Million in 2022 and is expected to rise from USD 908.16 Million in 2023 to USD 1404.34 Million by 2031, at a CAGR of 5.60% during the forecast period (2024–2031). 

Microcatheter manufacturers should focus on simplifying the use of their products to address the dearth of skilled medical professionals. Microcatheters companies can also work with healthcare insurance providers and healthcare companies to improve the reimbursement scenario for their offerings. Targeting developing countries will also be a major strategy for all microcatheters providers in the long run. 'Terumo Corporation ', 'Merit Medical System ', 'Stryker Corporation ', 'Penumbra Inc. ', 'Boston Scientific Corporation ', 'Teleflex Inc. ', 'Asahi Intecc USA, Inc. ', 'Surmodics, Inc. ', 'BioCardia Inc.  ', 'CARDINAL HEALTH, INC. ', 'JOHNSON & JOHNSON ', 'LEPU MEDICAL TECHNOLOGY (BEIJING) CO., LTD ', 'BECTON, DICKINSON AND COMPANY ', 'KANEKA CORPORATION ', 'ANGIODYNAMICS, INC. ', 'MILLAR, INC. ', 'BAYLIS MEDICAL COMPANY, INC. ', 'EMBOLX, INC. ', 'ACANDIS GMBH ', 'COOK MEDICAL'

Preference and popularity of minimally invasive procedures has increased substantially in recent years. The growing number of hospitals offering these procedures is driving up the demand for microcatheters and other products that make minimally invasive surgeries possible and accessible.

Use of Microcatheters in Oncology: Incidence of cancer has increased rapidly around the world, and everyone is focused on finding viable treatment options for the same. Microcatheters companeis can explore the scope of application of their offerings in oncology to expand their business reach and revenue generation in the future.

North America is estimated to spearhead the global microcatheters demand outlook across the study period. The presence of a developed healthcare infrastructure, rising surgical procedure volumes, and high healthcare expenditure allow this region to hold a dominant stance. Growing aging population has helped the United States become the most opportune market in North America. Canada is also expected to provide good growth opportunities for microcatheters companies. Rising preference for minimally invasive surgeries in this region will also boost sales of microcatheters going forward.

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Global Microcatheters Market

Report ID: SQMIG35A2967

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