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Microcatheter Market by Type, Design, Application, End-User - Global Forecasts to 2027
The global microcatheter market is projected to reach USD 1,082 million by 2027 from USD 828 million in 2022, at a CAGR of 5. 5% during the forecast period. Factors such as the growing adoption of minimally invasive procedures, rising geriatric individuals, Increasing prevalence of cardiovascular and neurovascular diseases, and increasing sedentary lifestyles and eating habits are increasing cardiac arrest cases, thereby increasing the minimally invasive procedures in hospitals.
New York, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Microcatheter Market by Type, Design, Application, End-User - Global Forecasts to 2027" - https://www.reportlinker.com/p05764811/?utm_source=GNW
The delivery microcatheter to hold the largest share of the market in 2022
The delivery microcatheter holds the largest market share in 2022. The large share of this segment can be attributed to knowing the use of the microcatheter properly and the increasing number of nonsurgical procedures replacing open surgeries.
The clinics, hospitals, and medical spas segment is projected to register the highest CAGR during the forecast period
Based on end users, the microcatheter market is segmented into hospitals, Surgical centers, and Specialty clinics.The hospitals, Surgical centers, and Specialty clinics are projected to register the highest CAGR during the forecast period of 2022 to 2027.
The key factors supporting segment growth are the availability of high-quality non-surgical equipment and personnel in hospitals, growing awareness about minimally invasive procedures performed in hospital settings, and the increasing number of plastic surgeons.
The market in North America region is expected to witness the highest growth during the forecast period.
North America accounted for the largest market share—46.4%—in 2022. This share can be attributed to a large number of target procedures (including cardiovascular, neurovascular, and oncology, among others) performed in the region coupled with the high prevalence of related diseases & disorders. In addition, the presence of a well-established healthcare system in the US and ongoing investments by hospitals to upgrade & expand operating capabilities are some of the other factors expected to fuel the growth of the microcatheters market in North America.
While growth in the US and European markets for microcatheters is reaching stagnancy due to market saturation, the market in the APAC is expected to witness significant growth in the coming years. The microcatheters market in the APAC region is expected to register a CAGR of 6.9% during the forecast period, primarily due to the growing number of hospitals in Asian countries, favorable government initiatives, growing healthcare industry, and increasing prevalence of target diseases & disorders in the region.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–30%, Tier 2–42%, and Tier 3– 28%
• By Designation: C-level–10%, Director-level–76%, and Others–14%
• By Region: North America–40%, Europe–30%, Asia Pacific–22%, Latin America–6%, and the Middle East & Africa–2%
The prominent players in the microcatheter market Boston Scientific Corporation. (US), Stryker Corporation (US), Teleflex Incorporated (US), Cook Group (US), Becton Dickinson and Company (US), Asahi Intecc Co.ltd (Japan) among others.
Research Coverage
This report studies the microcatheter market based on product,product design, end user and region.It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established and entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the microcatheter market.
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the microcatheter market..
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the microcatheter market.
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Read the full report: https://www.reportlinker.com/p05764811/?utm_source=GNW
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