$1.2+ Billion Microcatheters Market Towards 2031 - Allied Market Research

PORTLAND`, OREGON, UNITED STATES, July 17, 2024 /EINPresswire.com/ -- Microcatheters Market Research, 2031

The global microcatheters market, valued at $748.9 million in 2021, is projected to reach $1.2 billion by 2031, with a CAGR of 5.2% from 2022 to 2031. Several factors contribute to this growth, particularly the increase in the geriatric population prone to chronic diseases and the rising prevalence of cardiovascular conditions.

𝑬𝒏𝒒𝒖𝒊𝒓𝒆 𝑩𝒆𝒇𝒐𝒓𝒆 𝑩𝒖𝒚𝒊𝒏𝒈: https://www.alliedmarketresearch.com/purchase-enquiry/A10218

Key Market Drivers
• Aging Population: Increased susceptibility to chronic diseases like heart disease and cancer.
• Cardiovascular Diseases: Higher incidence of conditions such as heart attacks, aneurysms, and atherosclerosis.
• Demand for Minimally Invasive Procedures: Preference for procedures like angiography, angioplasty, and embolization.

Microcatheter Applications
Microcatheters, characterized by their small diameter, are used for various medical purposes, including:
• Delivering therapeutics and diagnostic agents
• Withdrawing thrombus, fluid, and tissues from vessels
• Supporting guidewire exchanges and accessing distal anatomy
• Performing complex endovascular procedures

Market Insights
• Heart Attack Incidence: High rates in older populations, e.g., 190 per 10,000 in those over 85.
• Stroke Statistics: Over 795,000 strokes annually in the U.S., with 87% being ischemic.
• Cancer Cases: Significant cancer rates, e.g., 1,012,000 cases in Japan in 2020.

Challenges and Opportunities
• Challenges:
• Lack of skilled professionals in emerging markets.
• High costs of microcatheters.
• Opportunities:
• Introduction of new microcatheters in developing nations.
• Increased healthcare investment and spending in developing countries.

Market Segmentation
• By Product Type: Delivery, aspiration, diagnostic, and steerable microcatheters.
• By Application: Cardiovascular, neurovascular, peripheral vascular, urology, otolaryngology, and others.
• By Design: Single lumen and dual lumen microcatheters.
• By End User: Hospitals and clinics, and ambulatory surgical centers.

• By Region:
• North America
• Europe
• Asia-Pacific
• LAMEA (Latin America, Middle East, and Africa)

Segment Analysis
• Aspiration Microcatheters: Leading segment due to the rise in lung cancer and pulmonary thromboendarterectomy cases.
• Cardiovascular Applications: Highest market share due to the prevalence of chronic heart diseases.
• Dual Lumen Microcatheters: Expected to witness the highest growth due to increased open-heart surgeries and other cardiac conditions.
• Hospitals and Clinics: Dominant end user segment due to higher patient admissions and better resources.

Regional Insights
• North America: Dominated the market in 2021, driven by the high number of chronic heart disease cases, robust healthcare infrastructure, and significant healthcare expenditure.

Leading Companies
• Asahi Intecc Co., Ltd.
• Boston Scientific Corporation
• Cardinal Health, Inc.
• Cook Group Incorporated
• Johnson and Johnson
• Medtronic Plc
• Merit Medical Systems, Inc.
• Stryker Corporation
• Teleflex Incorporated
• Terumo Corporation

𝑬𝒏𝒒𝒖𝒊𝒓𝒆 𝑩𝒆𝒇𝒐𝒓𝒆 𝑩𝒖𝒚𝒊𝒏𝒈: https://www.alliedmarketresearch.com/purchase-enquiry/A10218

David Correa
Allied Market Research
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