Microcatheter Market to Register a Stout Growth by End 2026

Posted by Aman Jaiswar on October 11th, 2019

Transparency Market Research (TMR) has published a new report titled, “Microcatheter Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, 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, increase in target patient population are likely to fuel the global microcatheter market from 2018 to 2026. Improved hospital infrastructure in developed markets such as North America and Europe, rise in medical tourism in Asia Pacific, and advantages of minimally invasive procedures are expected to drive the microcatheter market during the forecast period.

Rise in Adoption of Minimally Invasive Surgeries to Propel Market

Embolization is a minimally invasive surgery that marks a significant advancement in medical technology. Embolization procedures are used in the treatment of cerebral aneurysms and peripheral vascular diseases. Adoption of minimally invasive surgeries has been increasing significantly due to various advantages including less post-operative pain, less blood loss, reduced hospital stay, and faster recovery. This is likely to propel the microcatheters market during the forecast period.

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Increase in target patient population and Technological Advancements

Increase in the geriatric population, which is prone to neurovascular and cardiovascular diseases, is projected to drive the microcatheter market. According to the National Institute of Neurological Disorders and Stroke, nearly 30,000 people in the U.S. suffer a brain aneurysm rupture each year.

According to the American Heart Association, cardiovascular diseases account for around 17.3 million deaths each year, which is expected to increase to about 23.6 million by 2030. Technological advancements such as introduction of double coaxial guiding catheter technique, which is employed to treat chronic total occlusion (CTO) is driving the market. This technique places one guide catheter inside another. The advantages of passive support provided by a large guide catheter are combined with the ability to actively engage the smaller catheter into the target vessel. These developments are likely to add value to microcatheters and drive the global microcatheter market.

Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics and Asahi Intecc USA, Inc. to Lead the Market

The report also provides profiles of leading players operating in the global microcatheter market, which 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.