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Microcatheter, is the small diameter, single luminal catheter device that can be loaded in the guidewire in minimally invasive applications. These microcatheters are ideal for circumnavigating the immense network of tiny veins present within the human body. These devices can be commonly found throughout the medical device and healthcare industries. An increase in the prevalence of heart diseases, government initiatives to promote better facilities, and increasing applications of microcatheters are expected to drive the market.
Factors such as a rise in the incidences and the prevalence of neurovascular and cardiovascular diseases, increasing number of invasive diagnstic and therapeutic procedures, growing healthcare spending and imoriving healthcare infrastructure are leading drivers for the market.
Key Market Driver -
Rise in incidences of infectious diseases and zoonotic diseases.
Key Market Restraint -
Stringent regulatory guidelines and high cost of drug approval.
The global microcatheter market can be segmented on the basis of indication, end-user, and region. Based on the indication, the market can be segmented into neurovascular, coronary, and general peripheral vascular. Based on the end-user, the market can be segmented into hospitals, specialty clinics, and ambulatory surgery centers.
Geographically, the microcatheter market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The major companies in the global microcatheter report include Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics, Asahi Intecc USA, Inc., Merit Medical Systems, Inc., Stryker, Terumo Medical Corporation, Teleflex Incorporated., Penumbra, Inc. and other prominent players.
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Geographically, the global microcatheter market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Geographically, North America is expected to hold the largest share of the market, and it is also projected to hold this dominance during the forecast period. Factors such as the increasing prevalence of cardiovascular diseases as well as high per capita health care expenditure and availability of better and advanced health care facilities are anticipated for the lucrative growth of the market in the region. Europe is expected to hold the second-largest share of the market, and this growth can be attributed to the increasing number of angiography and PCI procedures and expansion of the health care industry. However, the Asia-Pacific region possesses the high potential for growth of the market due to the increase in the geriatric population, an increase in the prevalence of heart diseases, and improving healthcare facilities in the region. Countries like China and India are likely to provide lucrative market opportunities due to the large population base, growing economy, and new microcatheter product launches. Latin America and Middle East & Africa are expected to hold a significant share of the global microcatheter market during the forecast period.
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