North America Microcatheters Market

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.

North America Microcatheters Strategic Insights

Strategic insights for the North America Microcatheters provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Microcatheters Report Scope

North America Microcatheters Regional Insights

The geographic scope of the North America Microcatheters refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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).

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NORTH AMERICA MICROCATHETERS MARKET SEGMENTATION

By Indication

• Neurovascular
• Coronary
• General Peripheral Vascular

By End User

• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics

By Country

• US
• Canada
• Mexico

Company Profiles

• Boston Scientific Corporation
• Medtronic
• Merit Medical Systems Inc
• Terumo Corporation
• Biomerics LLC
• Asahi Intecc USA, Inc.
• Penumbra, Inc
• Stryker Corporation
• Teleflex Incorporated