The global dual lumen microcatheters market is expected to exhibit strong growth, reaching USD 699.5 billion by 2030. As per the report titled "Dual Lumen Microcatheters Market Size, Share Recession Impact Analysis, By Type (Delivery, Diagnosis, Aspiration and Steerable), By Application (Hospitals, Ambulatory Surgery Centers and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 421.6 billion and USD 699.5 billion in 2030. The market is expected to exhibit a CAGR of 7.50% during the forecast period.
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Terumo Medical Corporation Introduced the AZURTM Vascular Plug, a Microcatheter-Compatible Plug
In July 2021, the AZURTM Vascular Plug, a plug compatible with a dual catheter microcatheter to occlude arteries up to 8mm in diameter, was introduced by Terumo Medical Corporation. The product exhibits a balance of qualities, including dependability, stability, and accuracy. The technique offers unique advantages that place it at the forefront of embolotherapy, which aims to improve clinical and financial outcomes.
Growing Demand for Minimally Invasive Procedures to Accelerate Market Growth
The market for dual lumen microcatheters is significantly being driven by the rising demand for minimally invasive procedures. Instead than performing open surgery, minimally invasive procedures reach the body's internal structures through small incisions or other entry points. Compared to traditional surgery, they have a number of advantages, such as less pain, quicker healing, shorter hospital stays, and lower expenses. In order to treat a variety of medical ailments, patients are increasingly looking for minimally invasive methods. For instance, in the discipline of cardiology, coronary artery disease is treated with minimally invasive techniques including angioplasty, stenting, and atherectomy. In these operations, therapeutic agents, such as medications or stents, are delivered to the afflicted area using dual lumen microcatheters, which are used to access the heart and blood vessels. Cancer is treated in the field of oncology with minimally invasive techniques such radiofrequency ablation, microwave ablation, and cryoablation. Dual lumen microcatheters are used in these operations to send heat or cold energy to the tumour, killing cancer cells while sparing the surrounding healthy tissue from being harmed.
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Lack pf Skilled Professionals to Impede Growth
Dual lumen microcatheters need to be used by someone with specific knowledge and skills. These tools are frequently employed for minimally invasive treatments that involve reaching organs like the brain, liver, or kidneys that are hard to reach. Healthcare personnel who utilise these devices efficiently need to be well-versed in anatomy and physiology and have experience carrying out interventional treatments. A key barrier to the dual lumen microcatheter business is the lack of qualified professionals who can carry out these procedures. Low-income areas may lack the resources and training programmes needed to gain the essential skills, making this deficit more acute there.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the dual lumen microcatheters market plan acquisitions to improve their brand recognition globally. For instance, in March 2021, a privately held company that creates and markets energy-based medical solutions, Lumenis (Israel), has sold its global surgical division to Boston Scientific (US).
List of Key Players Profiled in the Report
- Boston Scientific
- Medtronic
- Terumo
- ASAHI INTECC
- MERIT MEDICAL
- Teleflex
- Johnson and Johnson
- Stryker
- Cook Group
- Cardinal Health
- BD
- B. Braun
- AngioDynamics
- Penumbra
- BTG PLC
Further Report Findings
- The market in North America is expected to gain a huge portion of the global Dual lumen microcatheters market share in the coming years because there are more government activities, established healthcare facilities, and heart and stroke rates in the area.
- The regional market is growing for a variety of reasons, including the accessibility of high-tech goods and the rise in demand for minimally invasive procedures.
- In the Asia Pacific, the growth in this region is primarily driven by a growing older population and a rise in the number of stressed-out persons.
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