South Korea Microcatheter Market Size & Outlook, 2020-2027
South Korea microcatheter market, 2016-2027 (US$M)
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South Korea microcatheter market highlights
- The South Korea microcatheter market generated a revenue of USD 32.3 million in 2020 and is expected to reach USD 46.2 million by 2027.
- The South Korea market is expected to grow at a CAGR of 5.2% from 2021 to 2027.
- In terms of segment, dual lumen was the largest revenue generating product design in 2020.
- Dual Lumen is the most lucrative product design segment registering the fastest growth during the forecast period.
Microcatheter market data book summary
| Market revenue in 2020 | USD 32.3 million |
| Market revenue in 2027 | USD 46.2 million |
| Growth rate | 5.2% (CAGR from 2020 to 2027) |
| Largest segment | Dual lumen |
| Fastest growing segment | Dual Lumen |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Single Lumen, Dual Lumen |
| Key market players worldwide | Medtronic PLC, Terumo Corp, Merit Medical Systems Inc, Stryker Corp, Penumbra Inc, Boston Scientific Corp, Teleflex Inc, Asahi Intecc Co Ltd, Surmodics Inc, BioCardia Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global microcatheter market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, China microcatheter market is projected to lead the regional market in terms of revenue in 2027.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 96.2 million by 2027.
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Microcatheter Market Scope
Microcatheter Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea microcatheter market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microcatheter market will help companies and investors design strategic landscapes.
Dual lumen was the largest segment with a revenue share of 64.09% in 2020. Horizon Databook has segmented the South Korea microcatheter market based on single lumen, dual lumen covering the revenue growth of each sub-segment from 2016 to 2027.
South Korea microcatheter market is anticipated to witness moderate growth over the forecast period due to increasing healthcare expenditure. Such an increase may encourage new and key players to enter the market, thereby propelling the market growth. However, declining cases of strokes may negatively impact the market growth.
For instance, as per report of the Stroke Statistics in Korea 2018, from 2006 to 2015, stroke mortality rate decreased from 58.9 to 29.6 per 100,000 population. In addition, low adoption of technologically advanced products and lack of skilled professionals in the country may also hinder the market growth over the forecast period.
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Our clientele includes a mix of microcatheter market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea microcatheter market , including forecasts for subscribers. This country databook contains high-level insights into South Korea microcatheter market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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South Korea microcatheter market size, by product design, 2016-2027 (US$M)
South Korea Microcatheter Market Outlook Share, 2020 & 2027 (US$M)
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