The Europe microcatheters market is expected to reach US$ 193. 11 million by 2027 from US$ 107. 15 million in 2019; it is estimated to grow at a CAGR of 7. 7% from 2020 to 2027. The market growth is attributed to significantly increasing prevalence of chronic disorders, such as cardiovascular and neurovascular diseases, and rising elderly population across Europe.
New York, June 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Microcatheters Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Indication and End User" - https://www.reportlinker.com/p06075674/?utm_source=GNW
However, product recall and stringent regulatory requirement, and lack of expert professionals hinder the market growth.
Micro-catheters are delivery devices used in minimally invasive applications.These small catheters are ideal for navigating the vast network of tiny veins found within the body.
According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the most prominent cause of morbidity and mortality across the world.The CVDs include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and so on.
According to the European Cardiovascular Disease Statistics 2017, CVDs causes 3.9 million deaths and more than 1.8 million deaths in the European Union (EU) every year. Therefore, the significantly rising incidence of CVDs across Europe is likely to propel the demand for devices, such as microcatheters, that are required to treat these diseases. In addition, in the recent years, the prevalence of neurological disorders such as cerebral aneurysm has increased significantly across Europe, which fuelled the demand for microcatheters used in their treatment procedures. Also, the rising geriatric population leads to rise in cardiovascular disease and neurological disease, which is contributing to the growth of the Europe microcatheters market.
The European economy is severely affected due to the exponential growth in the number of COVID-19 confirmed cases in the region.Regulatory bodies in the region are taking preventive measures such as complete quarantine and shutdown of all business operations.
In March 2020, the European Medicines Agency established a managing committee to deal with the impact of COVID-19 outbreak on the supply chain of medicines and devices.However, due to the fear of infection in patients as well as doctors, people are refraining from hospitals and planned surgeries.
These factors are disrupting the overall manufacturing and marketing of microcatheters, which would restrain the growth of the Europe microcatheters market during the forecast period.
The Europe microcatheters market, by indication, is segmented into neurovascular, coronary, and general peripheral vascular. The coronary segment held the largest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the Europe microcatheters market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2019, and the same segment is estimated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources referred to while preparing the report on the Europe microcatheters market are the Federation of Italian Medical and Scientific Societies (F.I.S.M), Societa Italiana Di Neuroscienze (SINS), and World Stroke Organization (WSO).
Read the full report: https://www.reportlinker.com/p06075674/?utm_source=GNW
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