Microcatheter Market to be Worth US$ 304.5 Mn by 2026, Says TMR - Seite 2

Product Recall and Stringent Regulatory Requirement to Restrain Market 

Several microcatheters witnessed recalls in the last few years due to defects in the products. This is expected to impact the demand for these devices. Product recalls also have a negative impact in the future profitability and adoption of these procedures by patients. In October 2016, Medtronic recalled certain lots of pipeline embolization device, Alligator retrieval device, and X-Celerator hydrophilic guide wire. The recall also included the stylet containing UltraFlow flow directed microcatheters and marathon flow directed microcatheters. Product approvals and launch of medical devices are governed by various regulations established by the U.S. FDA and other regulatory bodies operating in each country. The U.S. FDA continues to increase testing and documentation required for the clearance of devices. Similar regulations are noted in the European Union (EU), Japan, and China. The various levels of approval processes can delay the product release in the market, which could have a negative impact on revenue

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Market in Asia Pacific to Register Exponential Growth 

In terms of revenue, the microcatheter market in Asia Pacific is expected to expand at a CAGR of 7.8% during the forecast period. Increase in product launches is expected to drive the Asia Pacific microcatheter market. In 2018, ASAHI received chronic total occlusion (CTO) approvals for Corsair Pro Micro catheters and its Coronary Guide Wires to the include MIRACLEbros series, CONFIANZA series, FIELDER series, and Gaia series. According to the World Health Organization, most of the financial burden in health care is the responsibility of governments of countries in Asia Pacific. For instance, in China, more than 95% of health care coverage is under public insurance schemes, which lay emphasis on catastrophic diseases and inpatient services.

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Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics and Asahi Intecc USA, Inc. to Lead the Market 

The report also provides profiles of leading players operating in the global microcatheter market, which include Boston Scientific Corporation, Codman Neuro, Medtronic, Biometrics, Asahi Intecc USA, Inc., Merit Medical Systems, Inc., Stryker, Terumo Medical Corporation, Tokai Medical Products, Inc., and Penumbra, Inc.