(PharmaNewsWire.Com, April 13, 2020 ) The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.
At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Microcatheters Market. We are working diligently to help companies take rapid decisions by studying:
The impact of COVID-19 on the Microcatheters Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
The rapid shifts in the strategies of the Top 50 companies in the Microcatheters Market
The shifting short-term priorities of the top 50 companies’ clients and their client’s clients
You can request an in-depth analysis detailing the impact of COVID-19 on the Microcatheters Market:
Growth in the target patient population (suffering from cardiovascular diseases, neurovascular disorders, and cancer), rising adoption of minimally invasive surgical procedures, and the increasing number of microcatheter-assisted clinical research studies.
The global microcatheters market is projected to reach USD 924 Million by 2024 from USD 688 Million in 2018, at a CAGR of 5.0% from 2018 to 2024.
Microcatheters market is segmented into delivery microcatheters, aspiration microcatheters, diagnostic microcatheters, and steerable microcatheters. The steerable microcatheters segment is expected to grow at fastest CAGR during forecast period owing to the growing number of image-guided and minimally invasive medical procedures across major countries, shift from manually operated devices towards robotically operated surgical platforms, rising prevalence of vascular diseases, and the procedural advantages associated with steerable microcatheters.
Microcatheters market is segmented into liver cancer, kidney cancer, lung cancer, bone cancer, and other cancers (includes pediatric cancer, prostate cancer, and breast cancer). The liver cancer segment accounted for the largest share in of the microcatheters market in 2018. The large share of this segment is attributed to factors such as rising cases of liver cancer across the globe and growing initiatives/research activities for developing advanced liver cancer therapies using microcatheters.
The microcatheters market is segmented into hospitals, surgical centers, & specialty clinics; and ambulatory care centers. In 2018, the hospitals, surgical centers, & specialty clinics segment accounted for the largest market share majorly due to the growing number of hospitals and specialty clinics in emerging countries; increasing prevalence of target diseases; and large number of surgical and diagnostic procedures performed across these facilities.
Geographical Region Covered
North America is expected to account for largest share in the global microcatheters market in 2018. However, APAC is expected to grow at the highest CAGR during the forecast period. Emerging economies in the region such as India, China, and South Korea along with developed markets such as Japan and Australia are offering high-growth opportunities for market players in the field of microcatheters. This can be attributed to factors such as presence of a large patient pool, increasing prevalence & incidence of target diseases, growing healthcare infrastructure in Asian countries, and favorable government initiatives.
The major players operating in the global microcatheters industry include Boston Scientific Corporation (US), Medtronic Plc (Ireland), Terumo Corporation (Japan), ASAHI INTECC CO., LTD. (Japan), MERIT MEDICAL SYSTEMS, INC. (US), Teleflex Incorporated (US), Johnson and Johnson (US), Stryker Corporation (US), Cook Group Incorporated (US), Cardinal Health, Inc. (US), Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), AngioDynamics, Inc. (US), Penumbra (US), and BTG PLC (UK), among others.
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