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Microcatheters Market 2019 worth $924Million by 2024
Microcatheters Market categories the global market by Type (Delivery, Diagnosis, Aspiration, Steerable), Design (Single, Dual Lumen), Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology, Urology), End-User (Hospital, Specialty Clinics) & Geography"
The global microcatheters market is projected to reach USD 924 Million by 2024 from USD 688 Million in 2018, at a CAGR of 5.0% from 2018 to 2024.
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The growth of this market is primarily driven by majorly driven by the growth in the target patient population (suffering from cardiovascular diseases, neurovascular disorders, and cancer), rising adoption of minimally invasive surgical procedures, and the increasing number of microcatheter-assisted clinical research studies.
The major players operating in the microcatheters market include Boston Scientific Corporation (US), Medtronic Plc (Ireland), Terumo Corporation (Japan), ASAHI INTECC CO., LTD. (Japan), MERIT MEDICAL SYSTEMS, INC. (US), Teleflex Incorporated (US), Johnson and Johnson (US), Stryker Corporation (US), Cook Group Incorporated (US), Cardinal Health, Inc. (US), Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), AngioDynamics, Inc. (US), Penumbra (US), and BTG PLC (UK), among others.
An analysis of the market developments between 2015 and 2019 revealed that several growth strategies such as product launches and enhancements, partnerships, collaborations, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the microcatheters market. Among these business strategies, acquisitions were the most widely adopted growth strategies by market players.
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- In 2018, ASAHI INTECC CO., LTD. (Japan) entered in a partnership agreement with Medtronic plc to exclusively distribute Asahi Intecc’s Neurovascular guidewire and catheter in the US market.
- In 2017, Merit Medical Systems, Inc. (US) acquired products from Argon Medical Devices (US) and Catheter Connections, Inc. (US)
- In 2016, Merit Medical Systems, Inc. (US) received the US FDA’s 510(k) clearance for the SwiftNINJA Steerable Microcatheter.
- In 2015, Merit Medical Systems, Inc. (US) acquired Covidien plc (US).
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