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Increasing number of patients suffering from chronic diseases and cancer globally is a key factor driving market revenue growth
Market Size – USD 2.05 Billion in 2022, Market Growth – at a CAGR of 3.50%, Market Trends –Technological advancements in interventional cardiology
” - Emergen ResearchVANCOUVER, BC, CANADA, May 25, 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.
There are now more sophisticated microcatheters available that offer better performance, navigation, and more safety during treatments owing to development of new and advanced microcatheter technologies such as steerable microcatheters. Use of a microcatheter is necessary for Chronic Total Occlusion (CTO) Percutaneous Coronary Intervention (PCI).
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Report Scope:
Forecast Period: 2023- 2032
CAGR: 3.50%
Base Year: 2022
Number of Pages: 250
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
The complete regional analysis covers:
North America (U.S., Canada, Mexico
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)
Leading Players Profiled in the Report:
Medtronic, Stryker, Penumbra, Inc., Integer Holdings Corporation, MicroVention, Inc., Boston Scientific Corporation, Teleflex Incorporated, Merit Medical Systems, Biomerics, and Becton and Dickinson Company (BD).
Some Key Highlights from the Report
The aspiration microcatheters segment accounted for largest revenue share in the global microcatheters market in 2022. This is due to rising demand for treatment of acute strokes, peripheral artery disorders and aneurysms. During interventional procedures, these catheters provide for rapid recanalization, complete blood flow cessation, and protection against distal embolism.
In addition, catheters are frequently used to clean out clogged blood arteries of thrombus or other material. Numerous clinical investigations have demonstrated efficacy of coronary aspiration catheters in removing thrombi (blood clots) obstructing coronary arteries. Aspiration catheters are most useful when blood flow has completely stopped.
The cardiovascular segment is expected to register steadily fast revenue growth rate in the global microcatheters market during the forecast period. This is due to global increase in Cardiovascular Disease (CVD) rates. World Health Organization (WHO) forecasts that over 3.6 million people will die from CVDs due to avoidable factors such as inactivity, obesity, smoking, excessive alcohol consumption, and hypertension.
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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
In conclusion, the report is designed to provide an in-depth analysis of all the key change calculation factors that replicate the decisions that trigger the change, which pushes the player's winning position profitable on the growth curve despite massive competition in the target Microcatheters market.
Key Questions Answered in the Report:
What is the growth rate of the Microcatheters market? What is the anticipated market valuation of Microcatheters industry by 2032?
What are the key growth driving and restraining factors of the Microcatheters market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Microcatheters industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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