Micro-Catheters are ultra-thin devices used for diagnosis, mapping and delivery in minimally invasive applications. These small catheters are ideal for navigating the vast network of tiny veins that are present within the body and are employed extensively in the neurovascular and cardiovascular fields.
The Global Micro Catheters Market was USD 302.95 million in 2018 and is estimated to reach USD 493.39 million by 2025 at a CAGR of 7.22% during the forecast period.
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Growth by Region
North America held 40% of the market share in 2018 due to the increasing prevalence of cardiovascular diseases, high per capita healthcare expenditure and also better and advanced healthcare facilities in the region resulting in people spending more on healthcare. While increasing number of angiography, as well as PCI procedures along with an expansion of the health care industry, are more likely to propel the growth of the micro-catheter market in Europe. On the other hand, China and India are lucrative markets and product launches in the region are driving the growth of the Asia-Pacific region.
Drivers vs Constraints
The global micro-catheters market is driven by a surge in government initiatives to promote better facilities, a rise in strategic collaborations accompanied with mergers and acquisitions, strong product pipeline and rising applications of micro-catheters are driving the growth of the market globally. However, stringent regulatory requirements along with product recall are major factors that would hamper the growth of micro-catheters market globally.
Industry Trends and Updates
Biomerics and ATL Technology, in a joint venture as Biomerics ATL, LLC. entered into an agreement under which they’ll acquire Catheter Research Inc. (CRI)’s assets in Costa Rica and also Indianapolis divisions. This acquisition is mainly to expand and invest in additional production and engineering capabilities to enhance a global competitive advantage.
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Boston Scientific Corporation, a US-based company closed an investment and entered into an acquisition deal agreement with Millipede, Inc., a privately held company that has developed the IRIS Transcatheter Annuloplasty Ring System and has purchased a portion of the outstanding shares of the company.