Microcatheters Market is anticipated to grow at a substantial CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Microcatheters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global 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.
The continual growth of the microcatheters market can be attributed to several factors such as increasing incidence of target neurological conditions, increasing incidence of conditions affecting the peripheral vascular system. Moreover, increasing clinical research for minimally invasive cancer treatment and growing preference for safe and effective minimally invasive procedures across the globe is anticipated to further contribute to the substantial growth of the global market between 2019 and 2030. To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. The US department of veterans has entered into an agreement with Embolyx, a medical device company, to make availability of the new Sniper-tip in the United States and Europe. This new sniper tip has the ability to customize treatment with an array of different balloon microcatheter lengths and tip options.
Over the years, the growth in targeted patient population suffering from neurovascular disorders, cardiovascular diseases and cancer has played a vital role in contributing to the growth of the global microcatheters industry. Moreover, increasing number of microcatheter-assisted clinical research studies in several countries, namely India, China and other developing countries have emerged as essential contributors to global microcatheters market. Procedural benefits offered by microcatheters during critical cardiac surgeries, with availability of advanced technology has been a major driver for the global market, which is further anticipated to grow in the coming years.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Microcatheters Market is anticipated to grow at a substantial CAGR from 2019 to 2030. in detail along with the table of contents:https://www.marketindustryreports.com/101/microcatheters-market
Since the advent of safe and effective minimally-invasive procedures, the adoption of such procedures has witnessed substantial growth in recent times. Lower procedure associated pain and fewer post-operative complications have been pivotal in contributing to the growing adoption of minimally-invasive procedures. Increasing incidence of target neurological patients, expanding rate of conditions influencing the peripheral vascular system is anticipated to further propel the growth of the microcatheters market.
Various risks associated with microcatheter procedures have been affecting the growth of the industry inversely. Several risks, such as high cost associated with urological application, premium product pricing, trade barriers and unfavorable taxation policies can restraint the market growth.
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, rising medical tourism and increasing preference for minimally invasive procedures and adoption of latest technologies is anticipated to present a lucrative growth scenario for the market in this region. Furthermore, attractive procedure rates, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
The prominent players in the Microcatheters market are Boston Scientific Corporation, BD, Cardinal Health, Inc., Medtronic PLC, B. Braun Melsungen AG, Stryker Corporation, Inc., Teleflex Incorporated, Terumo Corporation, DePuy Synthes (Johnson & Johnson Services, Inc.) and AngioDynamics among others.
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