Fact.MR – A Market Research and Competitive Intelligence Provider: The global coronary microcatheters market is forecast to total US$ 363 Mn by 2031, finds Fact.MR in a recent market study.
Single Lumen Coronary Microcatheters Sales to Accelerate at 6.4% through 2031
In a recent market analysis, Fact.MR covers recent developments in the global coronary microcatheters market across segments of the market including product type, tip type, and material. The study also sheds light on crucial factors such as drivers, trends, opportunities, and threats to help readers understand the market scenario.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global coronary microcatheters market is forecast to total US$ 363 Mn by 2031, finds Fact.MR in a recent market study. Rising incidence of cardiovascular diseases and cardiac arrest are underpinning the need for technologically advanced catheters. Driven by these, the market is projected to gain traction at a 6.7% CAGR over the assessment period.
In 2020, sales prospects were dampened to an extent due to the onset of the novel COVID-19 pandemic. However, demand is expected to gain momentum at a considerable pace, as the market experienced year-over-year growth by 6% between 2020 and 2021.
According to World Health Organization (WHO), nearly 17.9 million deaths are caused due to cardiovascular diseases, which is about 32% of the total deaths worldwide. As the prevalence of these diseases continues to grow, demand for efficient diagnosis and treatment options will increase. This is expected to boost the market in the forthcoming years.
Further, to facilitate optimal treatment, medical professionals are using different tip types such as steerable, angled, and straight tip. As per Fact.MR, demand for straight tip microcatheters is projected to rise at a considerable pace as they offer control, speed, and delivery effectively.
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The U.S. is anticipated to dominate the North America market over the forecast period, opines Fact.MR. Growth is driven by growing prevalence of cardiac diseases, along with the increasing adoption of technologically advanced medical equipment in the healthcare sector.
“Increasing sales of steerable microcatheters for percutaneous coronary intervention are expected to boost the market. In addition to this, manufacturers are increasing their research and development (R&D) activities to develop innovative products for the diagnosis of blood-related diseases such as anaemia and blood cancer. This is expected to generate growth opportunities for market players,” says a Fact.MR analyst.
Key Takeaways:
- Based on product type, sales in the single lumen segment are projected to increase at a 6.4% CAGR through 2031.
- In terms of tip type, demand for straight tip catheters is anticipated to gain traction, accounting for over 54.5% share through 2021
- Demand in cardiac catheterization laboratories is forecast to increase at a robust 8.4% CAGR through 2031.
- The U.S. is projected to account for nearly 91% of the North America market share in 2021.
- Brazil will emerge as a lucrative pocket, holding 40% of the Latin America market share.
Growth Drivers:
- Growing demand for portable and compact cardiological devices such as electrocardiogram (ECG) across India, South Korea, and Japan is expected to fuel the growth in the market.
- Rapid adoption of technologically advanced equipment in the healthcare sector worldwide will continue spurring demand in the market.
Restraints:
- Stringent regulations regarding product quality may delay product approvals, limiting the sales.
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Competitive Landscape
Leading players operating in the global coronary microcatheters market are investing in research and development to diversify their product portfolios. In addition to this, players are investing in mergers, acquisitions, and collaborations to expand their global presence.
For instance, in August 2020, Medtronic launched a new surgical catheter called Telescope Guide Extension Catheter. The new catheter is specifically designed for providing extra support and access to distal lesions while helping to deliver coronary stents, balloons, and other devices for angioplasty procedures.
Key Players in the Coronary Microcatheters Market Include:
- Boston Scientific Corporation
- Teleflex Corporation
- ASAHI INTECC USA, INC.
- Medtronic
- Terumo Corporation
- KANEKA CORPORATION
- CookMerit Medical Systems
- Merit Medical Systems
- Nipro Corporation
- OrbusNeich Medical Company Limited
- Baylis Medical Company, Inc
- Interventional Medical
- Device Solutions (IMDS)
- Reflow Medical, Inc.
- Shanghai Kindly Medical Instruments Co, Ltd
- ACIST Medical Systems, Inc
- iVascular S.L.U.
- Acrostak Int. Distr. Sàrl
More Valuable Insights on Coronary Microcatheters Market
Fact.MR provides an unbiased analysis of the coronary microcatheters market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global coronary microcatheters market with a detailed segmentation on the basis of:
Product:
- Single-lumen Coronary Microcatheters
- Dual-lumen Coronary Microcatheters
- Guide Extension Coronary Microcatheters
Tip Type:
- Steerable Coronary Microcatheters
- Angled Tip Coronary Microcatheters
- Straight Tip Coronary Microcatheters
Material:
- Stainless Steel Coronary Microcatheters
- Stainless Steel+ Polytetrafluoroethylene – PTFE Coronary Microcatheters
- Tungsten-braided Shaft Coronary Microcatheters
- Platinum/Tungsten Coil Coronary Microcatheters
Regions:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions Covered in Coronary Microcatheters Market Report
- The report offers insight into the coronary microcatheters market demand outlook for 2021-2031.
- The market study also highlights projected sales growth for coronary microcatheters market between 2021 and 2031.
- Coronary microcatheters market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Coronary microcatheters market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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