Market Introduction
Micro-catheters are described as thin wall, small diameter catheters and delivery devices used in minimally invasive applications. These small catheters are ideal for navigating the vast network of tiny veins found within the body.
Market Overview and Dynamics
The Europe microcatheters market is expected to reach US$ 193.11 million by 2027 from US$ 107.15 million in 2019; it is estimated to grow at a CAGR of 7.7% from 2020 to 2027. The market growth is attributed to significantly increasing prevalence of chronic disorders, such as cardiovascular and neurovascular diseases, and rising elderly population across Europe. However, product recall and stringent regulatory requirement, and lack of expert professionals hinder the market growth.
According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the most prominent cause of morbidity and mortality across the world. The CVDs include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and so on. According to the European Cardiovascular Disease Statistics 2017, CVDs causes 3.9 million deaths and more than 1.8 million deaths in the European Union (EU) every year. Therefore, the significantly rising incidence of CVDs across Europe is likely to propel the demand for devices, such as microcatheters, that are required to treat these diseases. In addition, in the recent years, the prevalence of neurological disorders such as cerebral aneurysm has increased significantly across Europe, which fuelled the demand for microcatheters used in their treatment procedures. Also, the rising geriatric population leads to rise in cardiovascular disease and neurological disease, which is contributing to the growth of the Europe microcatheters market.
The European economy is severely affected due to the exponential growth in the number of COVID-19 confirmed cases in the region. Regulatory bodies in the region are taking preventive measures such as complete quarantine and shutdown of all business operations. In March 2020, the European Medicines Agency established a managing committee to deal with the impact of COVID-19 outbreak on the supply chain of medicines and devices. However, due to the fear of infection in patients as well as doctors, people are refraining from hospitals and planned surgeries. These factors are disrupting the overall manufacturing and marketing of microcatheters, which would restrain the growth of the Europe microcatheters market during the forecast period.
Key Market Segments
The Europe microcatheters market, by indication, is segmented into neurovascular, coronary, and general peripheral vascular. The coronary segment held the largest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the Europe microcatheters market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2019, and the same segment is estimated to register the highest CAGR in the market during the forecast period.
Major Sources and Companies Listed
A few of the primary and secondary sources associated with this report on the Europe microcatheters market are the Federation of Italian Medical and Scientific Societies (F.I.S.M), Societa Italiana Di Neuroscienze (SINS), and World Stroke Organization (WSO).
Reasons to buy the report
EUROPE MICROCATHETERS MARKET SEGMENTATION
By Indication
By End User
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 107.15 Million |
| Market Size by 2027 | US$ 193.11 Million |
| CAGR (2020 - 2027) | 7.7% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Indication
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Microcatheters Market is valued at US$ 107.15 Million in 2019, it is projected to reach US$ 193.11 Million by 2027.
As per our report Europe Microcatheters Market, the market size is valued at US$ 107.15 Million in 2019, projecting it to reach US$ 193.11 Million by 2027. This translates to a CAGR of approximately 7.7% during the forecast period.
The Europe Microcatheters Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Microcatheters Market report:
The Europe Microcatheters Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Microcatheters Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Microcatheters Market value chain can benefit from the information contained in a comprehensive market report.
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