Global Microcatheters Market

Microcatheters Market Size, Share, Growth Analysis, By Product Design(Single Lumen, and Dual Lumen), By Product(Delivery Microcatheters, Aspiration Microcatheters, Diagnostic Microcatheters, and Steerable Microcatheters), By Application(Cardiology, Neurology, Peripheral Vascular, Oncology), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2938 | Region: Global | Published Date: October, 2024
Pages: 206 | Tables: 94 | Figures: 66

Microcatheters Market Insights

Global Microcatheters Market was valued at USD 2 Billion in 2022 and is expected to rise from USD 2.09 Billion in 2023 to USD 2.97 Billion by 2031, at a CAGR of 4.5% during the forecast period (2024–2031).

The surging prevalence of cardiovascular disorders and neurovascular diseases around the world is projected to primarily augment the sales of microcatheters going forward. Growing popularity of minimally invasive surgeries and advancements in catheter development technologies are also expected to foster new market growth opportunities in the future. High investments in the development of microcatheter design will also boost microcatheters demand over the coming years. Rapidly expanding senescent population base around the world is also predicted to bolster sales of microcatheters in the long run. Moreover, an increased use of embolization procedures for the treatment of multiple disorders is also expected to favor market development through 2031. On the contrary, dearth of skilled professionals to manage the use of microcatheters, high costs of microcatheters, and limited reimbursement are projected to slow down market growth potential.

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Global Microcatheters Market was valued at USD 2 Billion in 2022 and is expected to rise from USD 2.09 Billion in 2023 to USD 2.97 Billion by 2031, at a CAGR of 4.5% 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. 'Medtronic Plc', 'Terumo Corporation', 'Merit Medical System', 'Stryker Corporation', 'Penumbra Inc.', 'Boston Scientific Corporation', 'Teleflex Inc.', 'Asahi Intecc USA, Inc.', 'Surmodics, Inc.', 'BioCardia Inc.'

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: SQMIG35A2938

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