Global Microcatheter Market growing at a CAGR of 5.1% from 2023 to 2031
Category : Medical Devices | Published Date : Sep 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyzes that the microcatheter market is predicted to grow at a compound annual growth rate of 5.1% from 2023 to 2031 and is expected to reach USD 1,259.78 million in 2031 and 845.53 million in 2023 which was valued at USD 809.36 million in 2022.
The report highlights the rising adoption of minimally invasive procedures, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Microcatheter market.
Global Microcatheter Market By Overview
The microcatheter market is bifurcated into type, product type, application, and end user. Based on type, the market is segmented into delivery microcatheters, diagnosis microcatheters, aspiration microcatheters, and steerable microcatheters. In 2022, the aspiration microcatheters segment dominated the overall microcatheter market. Based on product type, the market is segmented into single-lumen microcatheters and dual-lumen microcatheters. In 2022, the dual-lumen microcatheters segment dominated the overall microcatheter market. Based on application, the market is segmented into cardiovascular, peripheral vascular, urology, oncology, otolaryngology, and others. In 2022, the cardiovascular segment dominated the overall microcatheter market. Based on end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others. In 2022, the hospitals and clinics segment dominated the overall microcatheter market.
Get Free SampleMarket Dynamics
Driver:
- Increasing chronic diseases is boosting the market growth.
- Rising adoption of minimally invasive procedures is propelling the market growth.
Restraints:
- High cost of microcatheters is hampering the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Delivery Microcatheters, Diagnosis Microcatheters, Aspiration Microcatheters, and Steerable Microcatheters |
| By Product Type | Single-Lumen Microcatheters and Dual-Lumen Microcatheters |
| by Application | Cardiovascular, Peripheral Vascular, Urology, Oncology, Otolaryngology, and Others |
| By End User | Hospitals and Clinics, Ambulatory Surgical Centers, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Medtronic Plc, Merit Medical, and Surmodics, Inc., which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the microcatheter market is expected to witness substantial growth in the coming years due to growing advanced healthcare facilities in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Medtronic Plc
- Merit Medical
- Surmodics, Inc.
- Terumo Corporation
- Stryker Corporation
- Penumbra Inc.
- Boston Scientific Corporation
- Teleflex Inc.
- Johnson and Johnson
- Cardinal Health, Inc.
