Global Microcatheter Market – Snapshot

Microcatheters, although a broad term, is often used to describe thin wall, small diameter catheter and delivery devices that are utilized in minimally invasive applications. These small catheters are ideal for navigating the vast network of tiny veins found within the body. Micro-catheters are commonly found throughout the medical device and healthcare industries. The global microcatheter market was valued at US$ 162.3 Mn in 2017 and is anticipated to reach nearly US$ 304.5 Mn by 2026, expanding at a CAGR of around 7.5% from 2018 to 2026. Rise in adoption of minimally invasive procedures, technological advancements, and increase in target patient population are likely to fuel the global microcatheter market from 2018 to 2026.

Surge in government initiatives to promote better facilities, increase in strategic collaborations along with mergers and acquisitions, strong product pipeline, and increasing applications of microcatheters drive the global microcatheter market. However, stringent regulatory requirements and product recall are major factors restraining the global microcatheter market.

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The global microcatheter market can be segmented based on indication, end-user, and geography. In terms of indication, the global microcatheter market can be classified into coronary, neurovascular, and general peripheral vascular. Based on end-user, the global microcatheter market can be segregated into hospitals, specialty clinics, and ambulatory surgery centers. In terms of geography, the global microcatheter market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on indication, the coronary segment dominates the global microcatheter market. Rise in prevalence of cardiovascular diseases due to changing lifestyles such as consumption of alcohol, smoking, work pressure, and obesity drives the segment. According to WHO report (2017), cardiovascular diseases (CVDs) accounts for 17.7 million deaths each year, 31% of all global deaths. Increase in incidence rate of cerebral aneurysm is expected to boost the neurovascular segment during the forecast period.

In terms of end-user, the hospital segment dominates the global microcatheter market. According to the American Hospital Association, in the U.S., in 2016, there are 5,534 registered hospitals. Increase in number of hospitals, improvements in reimbursement policies, and increase in incidences of cardiovascular diseases are expected to drive the global microcatheter market. The specialty clinics segment is likely to create opportunities in Asia Pacific. Increase in health care infrastructure in emerging countries and rise in technological advancements are expected to drive the microcatheters market during the forecast period

North America accounted for 39.1% share of the market in 2017. Increasing prevalence of cardiovascular diseases as well as high per capita health care expenditure and availability of better and advanced health care facilities have resulted in people spending more on health care. Increasing number of angiography and PCI procedures and expansion of the health care industry are likely to fuel the microcatheter market in Europe during the forecast period. China and India are lucrative markets and also product launches are factors driving the microcatheter market in Asia Pacific. In 2018, ASAHI received chronic total occlusion (CTO) approvals for Corsair Pro Micro catheters and its Coronary Guide Wires to the include MIRACLEbros series, CONFIANZA series, FIELDER series, and Gaia series. Latin America and Middle East & Africa are expected to hold a significant share of the global microcatheter market during the forecast period. The Government of Brazil has introduced certain policies that allow foreign doctors from the U.S., the U.K., and other parts of the world to participate and improve health care services and practices in the country. The business council of Saudi Arabia provides support for partner identification, logistics, and market insights for better penetration into the market for new or private players in order to reduce the demand-supply gap in health care services.

Major players operating in the global microcatheter market include 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. These players adopt organic and in-organic growth strategies to expand product offerings, strengthen geographical reach, increase customer base, and capture market share.

Global Microcatheter Market: Overview

This report analyzes the current and future scenario of the global microcatheter market. Rise in adoption of minimally invasive procedures, technological advancements, increase in target patient population, surge in government initiatives to promote better facilities, increase in strategic collaborations along with mergers and acquisitions, strong product pipeline, and increasing indications for the usage of microcatheters are likely to fuel the global microcatheter market during the forecast period. The global market has been segmented based on indication, end-user, and region.

The global microcatheter market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on indication, end-user, and region. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the overview section. Additionally, the section comprises competitive matrix and company profiles along with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis by region and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global microcatheter market.

Global Microcatheter Market: Key Segments

Based on indication, the global microcatheter market has been segregated into coronary, neurovascular, and general peripheral vascular. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.

In terms of end-user, the global microcatheter market has been divided into hospitals, specialty clinics, and ambulatory surgery center. The segments have been analyzed based on health care infrastructure, government investment, and economic development in the regions. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.

Global Microcatheter Market: Regional Outlook

In terms of revenue, the global microcatheter market has been segmented into five major regions and the key countries in the respective region are: North America (U.S. and Canada), Europe (U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, China, Japan, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin of America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The research study also covers the competitive scenario in these regions.

Companies Mentioned in the Report

The report also profiles the major players in the market in terms of various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players operating in the global microcatheter market include 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. These players are adopting organic and in-organic growth strategies to expand product offerings, strengthen geographical reach, increase customer base, and garner market share.

The global microcatheter market has been segmented as follows:

Global Microcatheter Market, by Indication

  • Coronary
  • Neurovascular
  • General Peripheral Vascular

Global Microcatheter Market, by End-user

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgery Center

Global Microcatheter Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • India
    • Japan
    • China
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
.