Global Microcatheter Market By Product Design (Single Lumen Microcatheter and Dual Lumen Microcatheter) By Product (Delivery Microcatheter, Aspiration Microcatheter, Diagnostic Microcatheter, and Steerable Microcatheter) By Application (Cardiology, Neurology, Peripheral Vascular, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Microcatheter Market Overview:

In 2021, the global microcatheter market was worth USD 2,018.7 million. It is projected to grow at a compound annual rate (CAGR of 3.9%) between 2023 and 2032.

The market is expected to be driven by the rising number of minimally invasive procedures and the increasing prevalence of chronic diseases such as cancer, neurovascular disorders, cardiovascular disease, and other disorders.

The market is also growing due to technologically advanced products being adopted and government initiatives. The microcatheters are hollow, small tubes that can be inserted into blood vessels to perform various interventions. They are designed to deliver different interventional devices to blood vessels. They are used in many diagnostic and therapeutic procedures.

Global Microcatheter Market

Product Design Analysis

The market can be divided into two types based on their product design: single lumen or dual-lumen. With a 65% share in 2021, the dual lumen segment of the microcatheter market was dominant. It is expected to see the most rapid growth during the estimated period.

The dual lumen microcatheter has many advantages, including easy access to the procedure site. You can also administer multiple analgesics or drug infusions simultaneously, rather than having to do so at different times. It acts as a two-microcatheter and is highly preferred for interventional cardiology procedures. The segment growth is expected to be fueled by the dual-lumen microcatheter’s benefits.

Due to increasing rates of chronic diseases, such as neurovascular and cardiovascular disorders, the dual lumen microcatheter is seeing increased adoption in emerging countries. According to an American Heart Association journal article, stroke is one of the most common causes of death in China.

According to The Lancet’s 2018 report, India’s prevalence of heart disease and stroke has increased by more than 50% since 1990. Patients with chronic illnesses require multiple central venous accesses because they need long-term intravenous therapy. These factors will increase the demand for dual-lumen microcatheters during the estimated period.

Application Analysis

The market can be divided by application into neurology, cardiology, peripheral blood, oncology, and urology as well as otolaryngology and ophthalmology. With a 29.63% share in 2021, the cardiology segment was the dominant market. This is because cardiovascular diseases (CVD), have been the cause of death in the world over the past 30 years.

The WHO estimates that 17.9 mn deaths occurred each year in 2016 worldwide. It is predicted that CVD will cause more than 3.5 million deaths by 2030. CVDs are mainly caused by sedentary lifestyles, such as obesity, high blood pressure, smoking, and low physical activity. The segment’s growth is expected to be boosted by the rising incidence of cardiovascular disease in the future.

The forecast period will see the greatest growth in the neurovascular segment. According to the WHO, cerebrovascular stroke was the second leading cause of death and the third leading cause of disability in 2016.

Ischemic stroke accounts for 60 to 80% of all strokes. Stroke is most commonly caused by hypertension, smoking, and diabetes. Microcatheters are in high demand because of the increasing number and complexity of neurosurgical procedures.

Product Analysis

The market can be segmented by product into delivery microcatheter (aspiration microcatheter), diagnostic microcatheter (diagnostic microcatheter), and steerable microcatheter. With a 33.43% share in 2019, aspiration microcatheter were the dominant market. This market is driven by the growing demand for the treatment of aneurysms and acute strokes.

These catheters can also be used to quickly reanalyze, stop blood flow completely, and prevent distal embolism from occurring during interventions. It is also widely used to remove thrombus and debris from blocked vessels. These factors will likely increase demand for aspiration microcatheters over the forecast period.

The Steerable Microcatheter is forecast to grow at the highest CAGR over the forecast period. This microcatheter is an alternative to standard microcatheters. Conventional microcatheters are fixed-shaped and cannot be modified. They can also be used with a guidewire to navigate complex vessel anatomy.

A steerable microcatheter allows for faster target vessel selection and shorter procedure times. The device’s tip shape and angle can be adjusted while it is in a patient by using the dial on the handgrip. Market growth is expected to be driven by the growing use of steerable microcatheters in the treatment of various peripheral and cardiovascular disorders.

Key Market Segments

By Product Design:

• Single Lumen Microcatheter
• Dual Lumen Microcatheter

By Product:

• Delivery Microcatheter
• Aspiration Microcatheter
• Diagnostic Microcatheter
• Steerable Microcatheter

By Application:

• Cardiology
• Neurology
• Peripheral Vascular
• Oncology
• Urology
• Otolaryngology
• Other Applications

Market Dynamics

Microcatheters are most frequently used for their ability to reach the most complex veins. Microcatheters allow for the best possible access to even the most intricate network of veins. The market is expected to grow due to the increasing adoption of minimally invasive procedures and technological advancements.

Market growth is being driven by the rising incidence of chronic diseases due to unhealthy lifestyle choices. The main risk factors for conditions such as heart disease and cancer are obesity, cigarette smoking, and overweight. The World Health Organization (WHO) estimates that 41 million people are killed each year from chronic diseases, accounting for 71% of all deaths globally.

The majority of chronic diseases are caused by cardiovascular disease, which accounts for 17.9 million people each year. Next, neurovascular disorders, most commonly strokes, account for 7.0 million. The market is being driven by an increase in patients with neurovascular and cardiovascular disorders.

Market growth is also expected to be fueled by the increasing number of programs and initiatives being implemented by different countries. In 2016, the WHO launched “Global Hearts”, a new initiative to combat strokes and heart attacks. The Cancer Prevention and Control Research Network is an international program that aims to reduce and control the global burden of cancer.

The CDC’s Division of Cancer Prevention funds this initiative in conjunction with the Control and the National Cancer Institute. This program focuses on reducing the incidence of cancer in underserved communities. It collaborates with state, local, and national partners to lower cancer risk and death, as well as improve screening.

The Bee Foundation (TBF), a non-profit organization, aims to raise awareness and reduce the number of cerebrovascular stroke deaths through innovative research. The microcatheter market will grow if there is greater awareness about the treatment and government initiatives to prevent related disorders.

In recent years, countries like the U.S. have seen a rise in chronic disorders. According to the American Heart Association’s Heart Disease and Stroke Statistics 2019, 121.5 million Americans are suffering from cardiovascular disease. Every year, 805,000 Americans experience a heart attack.

According to the CDC, approximately 795,000 Americans suffer from cerebrovascular stroke each year. According to the Stroke Report 2017, approximately 400,000 Canadians were living with long-term stroke disability. This number is expected to increase by a third in the next 20 years. Market growth is expected to be boosted by a high rate of chronic diseases.

In addition, there are more chronic diseases in developing and developed countries. This has prompted the development of new products. Swift NINJA by Merit Medical, for example, is the first U.S. FDA-approved Steerable Microcatheter. It offers an alternative to standard microcatheters in complex vessel anatomy. The device allows doctors to adjust the tip’s shape and angle while it is in the patient’s body.

A peripheral microcatheter and neurovascular microcatheter are also options for treating strokes and other urological conditions. The market players are constantly trying to introduce technologically advanced products.

Regional Analysis

North America was the dominant market, with 33.5% of the share in 2021. This is due to the existence of established healthcare facilities in the region, increased government initiatives, awareness campaigns concerning chronic disorders, and a higher incidence of stroke and heart disease in the region. The regional market is also growing due to rising demand for minimally invasive procedures, and the availability of technologically advanced products.

Asia Pacific is projected to grow at the highest rate of CAGR over the forecast period. This is due to an increasingly aging population, increased stress levels in countries like Japan, rising incidence of chronic diseases, large populations, improved quality of diagnosis, and increasing patient affordability. These factors have resulted in significant growth in Asia Pacific interventional procedures.

Market growth is expected to be aided by the high growth potential in developing countries like India, Japan, and China.

Key Regions and Countries covered in the rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

Market leaders are focused on the launch and advancement of medical devices, as well as technological advances, and their growth strategies. Medtronic’s Phenom 21 Microcatheter was launched in April 2019 to deliver all sizes of vasculature equipment. This device removes blood clots in obstructed vessels and restores blood flow to patients with large vessel obstruction. These advancements will likely boost market growth during the forecast period. The market leader in microcatheter sales is:

Key Market Players:

• Medtronic Plc
• Terumo Corporation
• Merit Medical System
• Stryker Corporation
• Penumbra Inc.
• Boston Scientific Corporation
• Teleflex Inc.
• Boston Scientific
• Other Key Players

For the Microcatheter Market research study, the following years have been considered to estimate the market size: