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Increasing number of patients suffering from chronic diseases and cancer globally is a key factor driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 20, 2023/EINPresswire.com/ -- The global Microcatheters Market size was USD 2.05 Billion in 2022 and is expected to register a steady revenue CAGR of 3.50% during the forecast period, according to latest analysis by Emergen Research. Rising number of chronic diseases, such as cardiovascular, neurovascular, and cancer, as well as increasing use of minimally invasive treatments, technological advancements, and supportive government initiatives are major factors driving market revenue growth.

One of the main things driving the market for microcatheters is that people are becoming more interested in slightly invasive procedures. Minimally invasive surgery has many benefits over traditional surgery, such as less pain, shorter hospital stays, faster healing, and fewer problems. Microcatheters are an important part of these procedures because they allow for exact navigation and the targeted delivery of therapeutic agents like stents or embolic agents. As the number of people who want slightly invasive treatments keeps going up, more microcatheters are likely to be used, which will drive market growth.

The market is also growing because medical technology is always getting better. Microcatheters work much better and are much safer now that new materials, production methods, and imaging technologies have been developed. For example, treating microcatheters with hydrophilic and hydrophobic materials has made them easier to track, push, and turn. Also, the use of advanced imaging tools like fluoroscopy and intravascular ultrasound has made microcatheter-guided procedures easier to see and more accurate. These changes in technology have made microcatheters more useful and helped the market grow.

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Even though the market for microcatheters has good growth potential, it is limited in some ways. The high cost of microcatheter-based treatments is one of the main problems. The high price of microcatheters is partly due to the fact that they are made with complicated materials, exact engineering, and strict compliance with regulations. This cost factor can make it harder for microcatheters to be used, especially in places where healthcare funds are tight. Also, because microcatheter-guided procedures are so complicated, they require skilled medical workers, who may not be easy to find in some healthcare settings. This slows market growth.

A study from a reputable government agency says that the global market for microcatheters was worth USD X billion in 2022 and is expected to reach USD Y billion by 2027, growing at a CAGR of Z% during the forecast period. The study also said that cardiovascular interventions made up the largest share of the market because cardiovascular diseases are so common around the world. Also, the neurovascular segment is projected to grow by a lot. This is because strokes and aneurysms are becoming more common.

Some Key Highlights from the Report

In 2022, the aspiration microcatheters section brought in the most money for the microcatheters market as a whole. This is because more people are getting sudden strokes, problems with their peripheral arteries, and aneurysms. During interventional treatments, aspiration microcatheters are very useful because they allow for quick recanalization, stop blood flow completely, and protect against distal embolism.

The cardiovascular segment of the global microcatheters market is projected to have a steady and fast rate of revenue growth over the next few years. This growth is mostly caused by the rise of cardiovascular illnesses (CVDs) around the world. The World Health Organisation (WHO) says that controllable factors like being inactive, being overweight, smoking, drinking too much alcohol, and having high blood pressure will cause more than 3.6 million deaths from CVDs.

Cardiologists are using microcatheters more and more as a treatment for complicated coronary interventions, such as bifurcation lesions, ostial location, angled takeoffs, tortuous anatomy, coronary calcification, percutaneous coronary intervention (PCI), and chronic total occlusion (CTO). Single-Lumen Microcatheters (SLMs) and Double-Lumen Microcatheters (DLMs) are especially important for treating tumours with so many different parts.

In terms of geography, North America was the biggest market for microcatheters in terms of revenue in 2022. This is because there are more cardiovascular diseases and strokes in the area. North America also gains from having high-quality medical facilities, more help from the government, and a lot of public education campaigns about these disorders. The region also has cutting-edge medical technologies and a rising demand for minimally invasive procedures, both of which contribute to the growth of the market's revenue. Most medical equipment companies in Canada are small and medium-sized businesses (SMEs).

These businesses mainly focus on designing, making, and regulating testing and therapeutic medical equipment. This is good news for U.S. companies that sell medical devices abroad, since about 70% of the medical devices used in the U.S. come from other countries. In 2021, about 32% of all the manufactured medical tools and supplies that Canada imported came from the United States.

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Regional Landscape section of the Microcatheters report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Microcatheters Market Segmentation

Emergen Research has segmented the global microcatheters market on the basis of product type, application, product design, and region:

Product Type Outlook (Revenue, USD Billion; 2019-2032)

Delivery Microcatheters

Aspiration Microcatheters

Diagnostic Microcatheters

Steerable Microcatheters

Application Outlook (Revenue, USD Billion; 2019-2032)

Cardiovascular

Neurovascular

Peripheral Vascular

Urology

Others

Product Design Outlook (Revenue, USD Billion; 2019-2032)

Single Lumen Microcatheter

Dual Lumen Microcatheter

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Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

The report also discusses the key players involved in the market such as

Medtronic, Stryker, Penumbra, Inc., Integer Holdings Corporation, MicroVention, Inc., Boston Scientific Corporation, Teleflex Incorporated, Merit Medical Systems, Biomerics, and Becton and Dickinson Company (BD)

Highlights of Table of Contents (TOC):

Overview of Global Microcatheters Market

Competitive analysis of the Microcatheters market

Regional analysis of Global Microcatheters market production and revenue

Regional analysis of Global Microcatheters market supply, consumption, and export & import

Type-based market analysis of global Microcatheters production, revenue, and price trends

Application-based analysis of the global Microcatheters market

Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Microcatheters market

Global Microcatheters market forecast (2023-2032)

Conclusion of the research report

Appendix

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