South and Central America Microcatheters Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Indication and End User

The South and Central America microcatheters market is expected to reach US$ 37.03 million by 2027 from US$ 20.86 million in 2019; it is estimated to grow at a CAGR of 7.5% from 2020 to 2027. The market growth is attributed to significantly increasing prevalence of chronic disorders, such as cardiovascular and neurovascular diseases, and rising elderly population across South and Central America. However, product recall and stringent regulatory requirement, and lack of expert professionals hinder the market growth.

Micro-catheters are delivery devices used in minimally invasive applications. These small catheters are ideal for navigating the vast network of tiny veins found within the body. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the most prominent cause of morbidity and mortality across the world. The CVDs include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and so on. As per the WHO data published in 2017, ~17.9 million people died from CVDs in 2016, which was 31.0% of all the global deaths in that year. Therefore, the significantly rising incidence of CVDs across Latin America is likely to propel the demand for devices, such as microcatheters, that are required to treat these diseases. In addition, in the recent years, the prevalence of neurological disorders such as cerebral aneurysm has increased significantly across South and Central America, which fuelled the demand for microcatheters used in their treatment procedures. Also, the rising geriatric population leads to rise in cardiovascular disease and neurological disease, which is contributing to the growth of the South and Central America microcatheters market.

Countries in South and Central America are facing economic and humanitarian challenges due to the increasing incidence of COVID-19. They have responded to the outbreak by closing borders, ordering quarantines, avoiding alternative surgery procedures, and imposing a host of restrictions to keep people confined at home. Preventive measures such as social distancing and lockdown are significantly reducing the visits of people to the healthcare facilities, which, in turn, is hampering the growth of the microcatheters market in South and Central America.

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