Technological Advancements and Rising Number of Ambulatory Surgical Centres (ASCs) & Office Based Labs (OBLs)
The Global Microcatheters Market is expected to clock US$ 567 million by 2031 owing to technological advancements, rising number of ambulatory surgical centres (ASCs) & office based labs (OBLs).
Rising cases of cardiovascular diseases, neurovascular disorders, and cancer, growing adoption of minimally invasive surgical procedures, and increasing number of microcatheter-assisted clinical research studies.
Clairvoyance Research conducted an in-depth market analysis study of the global microcatheters market. The study comprehensively analyzes the market from different perspectives and provides granular insights on hot revenue pockets, headwinds & tailwinds impacting the market, quantitative (market size & forecasts) and qualitative analysis from ‘Design, Type, Application, End-user and Region’ perspective, key strategies and competitive landscape.
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Technological Advancements, Rising Number of Ambulatory Surgical Centres (ASCs) & Office Based Labs (OBLs) Set to Drive the Microcatheters Market
In North America and Europe, in order to increase patient access, reduce costs and increase volume of treated patients respective governments have rolled out several initiatives and awarded funding to number of facilities. The number of ambulatory care centers in the United States have skyrocketed over the years from approximately 1000 in 1988 to over 9280 in 2020.
These centers perform wide range of procedures such as cardiac procedures – diagnostic coronary angiograms, coronary stenting and electrophysiology work that involves diagnostic procedures and ablations. Most of these procedures utilize microcatheters. Growth in ambulatory care centers and office based labs in North America and Europe is expected to spur the demand of microcatheters.
Technological advancements in microcatheters in another pivotal factor that is expected to drive the global microcatheters market. For instance – In January, 2021, Baylis Medical launched 2-French electrophysiology microcatheters in Europe. It is the smallest diagnostic catheter in the European electrophysiology market which enables physicians to reach previously inaccessible areas of the heart for procedure mapping. Similarly, in July, 2020, ACIST Medical Systems launched ACIST Navvus® II Rapid Exchange FFR MicroCatheter. It is second-generation microcatheter that delivers more flexibility and a streamlined crossing profile to assess complicated lesions.
The global microcatheters market has been analyzed from five main perspectives: Design, Type, Application, End User and Region.
Key Takeaways – By Type Perspective
The global microcatheters market has been segmented majorly into four distinct categories depending on type, viz. delivery microcatheters, diagnosis microcatheters, aspiration microcatheters and steerable microcatheters. The steerable microcatheters segment holds the largest share in the market. The growth of the segment can be attributed to the rising demand of minimally invasive procedures and benefits of steerable microcatheters in super selective angiography with positive impacts on procedural efficiency.
Key Takeaways – Regional Perspective
The global microcatheters market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America commanded the largest share in the global microcatheters market, followed by Asia Pacific, Europe & Rest of the World (RoW). Factors such as rising prevalence of targeted diseases such as cardiovascular & urological diseases coupled with rising number of intervention procedures for these diseases, advanced healthcare infrastructure, and presence of prominent players are attributed for the large share of the region in the global market.
Snapshot – Competitive Landscape
The microcatheters market is marked by presence of prominent players such as Medtronic, Terumo Medical Corporation, Teleflex Incorporated, Stryker, BD, Boston Scientific Corporation, B. Braun Melsungen AG, Penumbra, Inc., Merit Medical Systems and Johnson & Johnson Medical. Other players operating in the market are ASAHI INTECC CO., LTD., Cook Medical, Cardinal Health, AngioDynamics, among others.
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