Microcatheters Market by Product Type (Diagnostics, Delivery, Aspiration and Steerable), Product Design (Dual-Lumen and Single-Lumen), Application (Oncological Applications, Urological Applications, Peripheral Vascular Applications, Cardiovascular Applications, Neurovascular Applications and Otolaryngological Applications) and End Users (Ambulatory Care Centers and Hospitals, Surgical Centers, & Specialty Clinics) - Analysis & Forecast 2019-2030
Report ID : 101 | Published Date : May 2019 | Pages : 150 | Region : Global | Report Code : MD-53
Microcatheters Market Overview and Introduction
The Microcatheters market was estimated to be over US$ 680 Mn in 2018. It is anticipated to grow at a substantial CAGR from 2019 to 2030.
Microcatheters are thin tubes with small diameter catheters made from medical grade materials and they deliver a broad range of functions in minimally invasive application. Catheters are medical devices that can be injected in the body to treat diseases or perform a surgical procedures. These small catheters are perfect for navigating the vast network of veins found within the body.
This market is driven by growing preference for safe and effective minimally invasive procedures and growth in the target patient population. Moreover, increasing number of microcatheter-assisted clinical research studies and technological advancements have been pivotal in contributing to the extensive growth of this market. However, high cost associated with kidney transplant procedures in urological disease is likely to restrain the market to a certain extent.
Microcatheters Market by Product Type and Design
On the basis of product type, This market is segmented into diagnostics microcatheters, delivery microcatheters, aspiration microcatheters and steerable microcatheters. The steerable microcatheters segment is estimated to account for the largest share in the market. The large share of this product segment can be attributed to the growing number of image-guided and minimally invasive medical procedures across major countries, rising prevalence of vascular diseases, and the procedural advantages associated with steerable microcatheters.
On the basis of product design, the market can be segmented into dual-lumen and single-lumen.
Microcatheters Market by Application
In terms of application this market can be segmented into oncological applications, urological applications, peripheral vascular applications, cardiovascular applications, neurovascular applications and otolaryngological applications and other applications. The segment of neurovascular applications is estimated to account for the largest market share owing to factors such as ongoing technological advancements in the field of endovascular microcatheters, the increasing incidence of target neurological conditions, , and market availability of specialized products.
Microcatheters Market by End Users
Based on the end users, the market is segmented into ambulatory care centers and hospitals, surgical centers, & specialty clinics.
Microcatheters Market by Region
This market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated this market, followed by Europe and Asia Pacific. North America will continue to dominate the market in the forecast period owing to factors such as presence of a well-established healthcare system, high number of target procedures performed in the region coupled with presence of large patient pool and on-going investments by healthcare institutions. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, Japan and India. Factors such as rise in medical tourism, procedural benefits offered by microcatheters during critical cardiac surgeries and highly advanced hospital infrastructure are likely to attract patients from different parts of the world.
Microcatheters Market by Prominent Players
The prominent players in above market are Boston Scientific Corporation, BD, Cardinal Health, Medtronic, B. Braun Melsungen AG, Stryker, Teleflex Incorporated, Terumo Corporation, DePuy Synthes (Johnson & Johnson Services, Inc.) and AngioDynamics among others.