Microcatheters Market Size & Share - Industry Trends and Forecast 2017 - 2025
The objectives of this study are as follows:
To define, describe, and forecast the "Microcatheters" market by type, application, component, delivery model, end user, and region
To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW)
To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
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Microcatheters are thin, tube-like, disposable medical devices used in minimally invasive procedures for a wide range of medical applications. Microcatheters are ideal for navigating the wide network of the blood vessels within the body and detecting the lesions prior to balloon dilation/stenting procedures. These are also used to facilitate the placement/exchange of guidewires and other interventional devices for infusion/delivery of diagnostic and therapeutic agents. Microcatheters are most commonly used in small blood vessels and in selective diagnostic and interventional procedures requiring ultra-thin devices for delivery, diagnosis, and mapping. These are extensively used in cardiovascular and neurovascular fields for applications, in which the access to tiny blood vessels is difficult with the use of standard catheters. Also, microcatheters have a variety of procedural applications in oncology including embolization, trans-catheter embolization, occlusion, and uterine fibroid embolization. Microcatheters are made of different medical-grade materials such as Pebax, polytetrafluoroethylene (PTFE), nitinol, and tungsten. These are generally coated with hydrophilic material to enhance the deliverability and crossability. Microcatheters are generally used along with guidewires to access the discrete regions in the blood vessels. Microcatheters are available in different sizes depending on the application, for instance, for a cardiac application, the microcatheter size required is 6 French. On the other hand, for a neurovascular application, the size required is 2.5 French.
The demand for microcatheters is projected to be greatly influenced by the increasing demand for minimally invasive surgeries worldwide, growing prevalence of hepatocellular carcinoma (HCC), increasing incidence of cardiac disorders and neurological disorders such as cerebral aneurysm during the forecast period. Hepatocellular carcinoma has the second-highest cancer-related mortality rate worldwide, as most of these cases are diagnosed in the secondary or last stage of cancer when surgery is not possible. Trans-catheter arterial chemoembolization (TACE) is considered the first line of treatment for the cases in which surgery is not advisable. TACE is the minimally invasive procedure performed to stop the blood supply to the tumor. The growing adoption of TACE procedures for the treatment of unresectable HCC is likely to boost the demand for microcatheters. Moreover, high prevalence of cardiovascular diseases such as cardiac aneurysm and coronary artery blockages is likely to propel the demand for microcatheters during the forecast period.
The global microcatheters market can be broadly segmented based on tip design, application, and geography. Microcatheters are available in different tip designs depending on the need and indication. The most commonly available tip designs are swan neck tip, J tip, 450 tip, and straight tip. Based on application, the microcatheters market has been segmented into neurovascular, cardiovascular, oncology, and others. The cardiovascular segment is projected to dominate the global microcatheters market during the forecast period, owing to high prevalence of coronary occlusion across the world. The cardiovascular segment is anticipated to register the maximum growth rate during the forecast period.
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Geographically, the global microcatheters market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global microcatheters market by 2025. The major share held by North America is attributable to well-established health care infrastructure, high per capita health care expenditure, high prevalence of cardiovascular and neurological disorders, and growing number of patients with hepatocellular carcinoma in the region. According to Center for Disease Control and Prevention, more than 610,000 people die of heart diseases every year. Moreover, about 40,710 new cases of primary liver cancer and intrahepatic bile duct cancer are estimated to be diagnosed by the end of 2017. Europe is projected to follow North America in the microcatheters market. The market in Asia Pacific is projected to expand at the maximum CAGR during the forecast period. Growth of the market in Asia Pacific is attributable to high incidence of cardiovascular diseases and hepatocellular carcinoma in countries such as India, China, and Japan. The market in Latin America and Middle East & Africa is likely to expand at a moderate growth rate during the forecast period.
Companies such as Boston Scientific Corporation, Codman Neuro (a Johnson & Johnson company), and Medtronic account for a key share of the global microcatheters market. Other prominent players operating in this market are Biometrics, Microcatheter Components, Asahi Intecc USA, Inc., Merit Medical Systems, Inc., Stryker, Terumo Medical Corporation, and Cook Group Incorporated.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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