The market is estimated to grow with a CAGR of 5. 5% from 2021 to 2028. The growth of the market is attributed to some key driving factors such as significantly increasing prevalence of cardiovascular diseases and increasing incidences of neurovascular diseases.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Micro Catheter and Micro Guidewire Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type ; Indication ; End User ; and Geography" - https://www.reportlinker.com/p06130859/?utm_source=GNW
However, the lack of expert professionals is anticipated to deter the market growth.
Cardiovascular diseases (CVDs) are likely to remain the major cause of morbidity and mortality across the world.Heart failure, stroke, rheumatic heart disease, aortic aneurysm, and peripheral artery disease are among the most common CVDs.
A few factors such as unhealthy diet adoption, tobacco consumption, sedentary lifestyle, and alcoholism are prominently contributing to the growing incidence of CVDs across the globe.According to the World Health Organization (WHO), CVDs are number one cause of death across the world.
Also, in 2020, the Centers of Disease Control and Prevention (CDC) estimated that, on an average, one death after every 36 seconds is recorded due to CVDs in the US.Moreover, according to the same study, the country reports an estimated 850,000 cases of heart attack each year.
Furthermore, as per the American Heart Association (AHA) 2019 statistics, 121.5 million adults in the US, which is around half of the US adult population, suffer from CVDs. In addition, according to a report published by the British Heart Association in 2020, around 0.6 million deaths were reported due to CVDs in the UK. Also, the same study stated that the circulatory systems disease and chronic rheumatic heart disease held major share in the overall mortality caused by CVDs in the country. According to the European Cardiovascular Disease Statistics 2019, every year CVDs cause 3.9 million deaths in Europe and more than 1.8 million deaths in the European Union (EU). The CVD accounts for 45.0% of all deaths in Europe and 37.0% of all deaths in the EU. Further, according to a study published in Journal of Lancet Public Health in 2020, CVDs cause around 4.0 million deaths in China each year.
Based on product type the market is segmented into, micro catheters and micro guidewires. The micro catheter segment held the largest share of the market in 2020, and the same segment is anticipated to register the highest CAGR of 5.9% in the market during the forecast period.
Based on indication, the micro catheters and micro guidewires market is segmented into neurovascular, cardiology, urology, otolaryngology, oncology, and others. The cardiology segment held the largest share of the market in 2020, however the oncology segment is anticipated to register the highest CAGR of 6.3% in the market during the forecast period.
Based on end user, the micro catheters and micro guidewires market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2020 and is estimated to register the highest CAGR of 6.1% in the market during the forecast period.
Central Drugs Standard Control Organization, Commission for Protection against Health Risks, Contract Research Organizations, and Drug Safety and Effectiveness Network are among the major secondary sources referred to while preparing the report on the micro catheters and micro guidewires market.
Read the full report: https://www.reportlinker.com/p06130859/?utm_source=GNW
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