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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Key Market Players

The major players operating in the global microcatheters industry 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.

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.

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Recent Developments:
• 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).

North America is expected to account for largest share in the global microcatheters market in 2018. However, APAC is expected to grow at the highest CAGR during the forecast period. Emerging economies in the region such as India, China, and South Korea along with developed markets such as Japan and Australia are offering high-growth opportunities for market players in the field of microcatheters.

This can be attributed to factors such as presence of a large patient pool, increasing prevalence & incidence of target diseases, growing healthcare infrastructure in Asian countries, and favorable government initiatives.

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