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 North America microcatheters market is expected to reach US$ 354.21 million by 2027 from US$ 184.49 million in 2019; it is estimated to grow with a CAGR of 8.6% from 2020 to 2027. The growth of the market is attributed to some key driving factors such as significantly increasing prevalence of chronic disorders like cardiovascular & neurovascular diseases and rising elderly population across North America. However, product recall and stringent regulatory requirement and lack of expert professionals are the major factor hindering 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. As per the American Heart Association (AHA) 2019 statistics, 121.5 million adults in the US (around 50% of the US adult population) suffer from a CVD. Therefore, the significantly rising incidence of CVDs across North America 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 North America, 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 North America microcatheters market.
North America has been recording growing number of COVID-19 confirmed cases since its outbreak. The outbreak has adversely affected the adoption of and demand for neurovascular devices in neurosurgeries/elective surgeries. Several measures are being taken to prevent the spread of the novel coronavirus that causes COVID-19. Also, the rapidly rising number of COVID-19 confirmed cases have resulted in cancellation of doctor's appointment and decreased demand for the elective neurosurgery. In addition, there is a disruption in supply chain due to long period of lockdown. Moreover, the financial crisis among the masses in North America hampers the growth of the microcatheters market in the region.
Key Market Segments
The North America 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 North America 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 North America microcatheters market are the American College of Cardiology (ACC), Neurological Health Charities Canada (NHCC) and American Heart Association (AHA).
Reasons to buy the report
NORTH AMERICA MICROCATHETERS MARKET SEGMENTATION
By Indication
By End User
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 184.49 Million |
| Market Size by 2027 | US$ 354.21 Million |
| CAGR (2020 - 2027) | 8.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Indication
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Microcatheters Market is valued at US$ 184.49 Million in 2019, it is projected to reach US$ 354.21 Million by 2027.
As per our report North America Microcatheters Market, the market size is valued at US$ 184.49 Million in 2019, projecting it to reach US$ 354.21 Million by 2027. This translates to a CAGR of approximately 8.6% during the forecast period.
The North America 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 North America Microcatheters Market report:
The North America Microcatheters Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Microcatheters Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Microcatheters Market value chain can benefit from the information contained in a comprehensive market report.
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