Microcatheter Market is projected to reach USD 1,082 million by 2027 from USD 828 million in 2022, at a CAGR of 5.5% during the forecast period according to a new report by MarketsandMarkets™. The high prevalence of increasing chronic diseases like cardiovascular and neurovascular disease, increasing geriatric population, sedentary lifestyle, government subsidies, and expenses or tax relaxations in these countries can also help companies to grow. These are the key factors driving the market in near future.
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Body Contouring segment to register significant growth rate over the forecast period of 2022-2027
Based on the product type, the global microcatheter market is segmented into Delivery microcatheters, Aspiration microcatheters, diagnostic microcatheters, and Steerable microcatheters. The delivery microcatheter segment is anticipated to register the highest growth rate over the forecast period. Steerable microcatheter segment accounts the second share in the microcatheter market.
Hospitals, Surgical centers & Specialty Clinics segment accounted for the largest share of the medical aesthetic, by end-user market in 2021.
The Hospitals, Surgical centers & Speciality Clinics segment dominates the market because most minimally invasive procedures are performed in hospitals, Surgical centers & Specialty. Increasing Cardiovascular and neurovascular procedures are taking place mainly in hospitals where trained surgeons perform the minimal invasive procedure with minute details and care.
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North America to register major growth in the market during the forecast period
North America microcatheter market is anticipated to register the highest growth over the forecast period of 2022 to 2027. North America accounted for the largest share of 46.4% of the microcatheters market in 2022. This market is projected to reach USD 1028 million by 2027 from USD 828 million in 2022, at a CAGR of 5.5% during the forecast period. North America holds 46.4% share of the total microcatheter market. The large share of North America can be attributed to the high number of cardiovascular, neurovascular, and other target procedures performed in the region. Other factors such as large patient pool, the presence of a well-established healthcare system, and ongoing investments by hospitals to upgrade their operating rooms are also driving the growth of this regional segment.
As of 2022, prominent players in the microcatheter market are Boston Scientific Corporation. (US), Stryker Corporation (US), Teleflex Incorporated (US), Cook Group (US), Becton Dickinson and Company (US), Asahi Intecc Co., ltd (Japan).
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