New York, NY -- (SBWIRE) -- 04/28/2020 -- According to Study, Growth of the Microcatheters market can be attributed to several factors such as increasing target patient population suffering from neurovascular disorders, cardiovascular diseases, and cancer among others. Microcatheters are extensively utilized in neurovascular and cardiovascular fields. In neurovascular procedures microcatheters are used to locate and treat aneurysms and many other cranial blood flow complications. Biomerics, a company involved in development, and production of medical devices for diagnostic and interventional procedures provides microcatheters for use in neurovascular and cardiovascular diseases to treat aneurysms, clots, and other blood flow problems. However, designing and manufacturing of an ultra-thin walled micro-catheter particularly for cardiovascular and neurovascular market is a difficult task and requires greater expertise.

A report "Global Microcatheters Market" has been recently published by Market Industry Reports (MIR). As per the published report, the global microcatheters market was estimated to be over US$ 222.3 million in 2019. It is anticipated to grow at a CAGR of 7.8% from 2019 to 2030.

The prominent players in the global microcatheters market:

Medtronic, Terumo Medical Corporation, ASAHI INTECC CO., LTD, Teleflex Incorporated., and Cardinal Health., among others are some of the prominent players operating in the global microcatheters market.

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Scope of Report:

Increasing adoption of minimally invasive surgical procedures is one of the major factors contributing to the growth of the microcatheters markets. The minimally invasive surgical procedures are performed through tiny incisions instead of a large opening. Benefits include quicker recovery times, shorter hospital stays, less scars, less pain and discomfort, and lesser chances of infection and bleeding.

The growth of the microcatheters market can be attributed to several factors such as growing target patient population of cardiovascular diseases, neurovascular disorders, and cancer, growing number of Ambulatory Care Centers & Office Based Labs (OBL) and increasing focus on R&D by Key Players. Moreover, improved hospital infrastructure in developed countries, rise in medical tourism and increase in advantages of minimally invasive procedures are expected to drive the microcatheter market during the forecast period.

Regional Analysis:

Several countries, namely Brazil, Malaysia, Thailand, Singapore, India and other developing countries have emerged as essential contributors to global medical tourism industry. China and India are lucrative markets and moreover, new product launches & product enhancements are factors that are further driving the microcatheter market in Asia Pacific. Multiple factors have been responsible for attracting patients to tour worldwide for medical treatments. India is one the fastest growing country in the APAC region, owing to medical tourism in this region. India offers wide range of surgeries at low cost compared to US & European Region.

Cardiovascular surgeries, Cardiac Bypass, Heart valve replacement & Angioplasty surgeries are most commonly performed surgeries and attract medical tourists. Healthcare facilities in APAC regions are also growing and attracting many market players to launch products for different applications in this region. For instance, Gurbet plans to register SeQure and DraKon microcatheters in next two years in Australia, China, India, Japan, Korea, Singapore and Vietnam. Moreover, new technologically advanced products like steerable microcatheter by Sumitomo Bakelite are under clinical trials in Japan.

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Table of Content:

INTRODUCTION
Market Definition
Market Ecosystem
Market Classification
Geographic Scope
Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecasted Years – 2019 to 2030
Currency Used

RESEARCH METHODOLOGY
Research Framework
Data Collection Technique
Data Sources
Secondary Sources
Primary Sources
Market Estimation Methodology
Bottoms Up Approach
Top Down Approach
Data Validation and Triangulation
Limitations/Assumptions of the Study

ABSTRACT OF THE STUDY

MARKET DYNAMICS ASSESMENT
Overview
Drivers
Barriers/Challenges
Opportunities

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