Microcatheters Market - By Product (Delivery Microcatheters, Diagnostic Microcatheters, Aspiration Microcatheters, Steerable Microcatheters), By Design (Single Lumen Microcatheters, Dual Lumen Microcatheters), By Application, 2023 – 2032

Microcatheters Market Size

Microcatheters Market size was valued at around USD 918 million in 2022 and it is estimated to reach over USD 1,566 million by 2032. Increasing cardiovascular diseases, advancements in medical imaging, rise in minimally invasive procedures, growing aging population, and rising prevalence of cancer are among the key pointers enhancing the market progress.
 

Cardiovascular diseases remain a leading cause of mortality worldwide. Microcatheters are essential tools in interventional cardiology for procedures like angioplasty, stent placement, and embolization, contributing to market progress. The increasing incidence of cancer has led to the use of microcatheters in oncology procedures such as chemoembolization and radioembolization. These treatments require precise catheterization for localized therapy delivery.

Moreover, the development of advanced medical imaging technologies, such as fluoroscopy, intravascular ultrasound (IVUS), and optical coherence tomography (OCT), has increased the demand for microcatheters. These imaging modalities require the use of microcatheters for real-time visualization and guidance during procedures. Further, microcatheters are instrumental in delivering targeted therapies, which are gaining importance in various medical specialties, including oncology and neurology. The ability to deliver treatments directly to affected areas reduces side effects and enhances treatment efficacy. Thus, all the above-mentioned variables are set to spur the adoption of microcatheters, thereby fueling the microcatheters market expansion.

A microcatheter is a thin, flexible, and typically narrow tube or catheter designed for medical procedures and interventions that require precise and minimally invasive access to small or delicate blood vessels, ducts, or other anatomical structures within the body.

Rising awareness about the potential health risks associated with microcatheters in surgical procedures is restricting overall market demand. Microcatheters might have high-risk and complex aspects owing to their small dimensions and the intricacy of the surgical procedures. Microcatheters are often used for highly targeted interventions in intricate anatomical structures, such as blood vessels in the brain or coronary arteries. Achieving the necessary precision requires advanced skills and training on the part of healthcare professionals. The lack of skilled professionals in developing and underdeveloped economies restricts the industry's progression. Moreover, there is a heightened risk of accidental dislodgment during surgical interventions, especially when delivering critical treatments or devices to specific locations within the body.

COVID-19 Impact

The COVID-19 pandemic left an indelible mark on the global healthcare landscape, affecting numerous sectors, including the microcatheters market. As the pandemic unfolded, lockdowns, travel restrictions, and factory closures disrupted the global supply chain for medical devices. This led to delays in the manufacturing and distribution of microcatheters and other essential medical equipment and affected the availability and accessibility of microcatheters for medical procedures. Further, the postponement or cancellation of elective medical procedures to mitigate the risk of COVID-19 transmission and conserve vital medical resources among several economies declined market demand during this period. The high risk associated with surgical interventions due to coronavirus infection and the rising patient influx in hospitals is one of the prime factors contributing to the reduction in surgical interventions.

Moreover, healthcare systems worldwide shifted their resources and personnel to manage the influx of COVID-19 patients during the pandemic. This shift had a direct impact on the demand for microcatheters, as many interventional procedures were temporarily put on hold or conducted with reduced capacity.

Despite these challenges, the microcatheter industry is anticipated to witness considerable growth owing to the reduced number of COVID-19 patients in some countries and the adoption of standard operating protocols among healthcare facilities. Furthermore, organizational collaborations, partnerships, and government initiatives to provide clinical emergency care to patients suffering from cardiac ailments have sustained industry revenue growth. Despite the moderate impact that the market witnessed for some time, it is predicted to foresee tremendous growth in the long term.

Microcatheters Market Trends

Technological advancements are often targeted at offering better care products while also increasing demand. Some of the key industry players are noted to focus on the development and introduction of innovative and technologically advanced product offerings, which play a vital role in market growth. For instance, Boston Scientific Corporation received 510(k) clearance for the TRUSELECT microcatheter from the U.S. FDA. This microcatheter is intended for peripheral vascular use. The microcatheter can be used for selective infusion of diagnostic, embolic, or therapeutic materials into the vessel.

Moreover, innovations in microcatheter design, along with 3D mapping systems and robotic-assisted catheterization to improve the accuracy and precision of catheter-based procedures, will boost product demand. Moreover, microcatheters are equipped with advanced features such as real-time imaging and navigation that allow for less invasive interventions with smaller incisions, shorter recovery times, and reduced patient discomfort. Such technical advances allow physicians to extend treatment windows while enhancing the success rate fuelled by increased product adoption, thereby stimulating the industry's growth potential over the forthcoming years.
 

Microcatheters Market Analysis

Based on product, the microcatheters market is bifurcated into delivery microcatheter, diagnostic microcatheter, aspiration microcatheter, and steerable microcatheter. The steerable segment is anticipated to witness the fastest growth at 5.5% CAGR over the projection timeframe. Increasing utilization of steerable microcatheters in cardiovascular angiography is owing to enhanced success rates and reduced procedural time as compared to standard microcatheters. The real-time ability to change the degree of angulation of the tip of the steerable microcatheter has the potential to increase the efficiency of super-selective vessel cannulation.

Further, the continuous development of more effective, user-friendly, and advanced technology-enabled devices that provide several benefits during surgical interventions will boost the segmental adoption rate. Hence, owing to these attributes, the industry is anticipated to witness lucrative growth in the coming years.

Based on design, the microcatheters market is categorized into single lumen microcatheter, and dual lumen microcatheter. The dual lumen microcatheters segment garnered around USD 520.3 million revenue in 2022 and is expected to foresee a healthy growth trend over the analysis timeline. The high revenue growth is owing to numerous advantages, including easy access to the procedural site.

In addition, the significant adoption of dual lumen microcatheters in developing markets, coupled with the rising prevalence of chronic disorders such as neurovascular, oncology, and cardiovascular, among others, will further propel market growth. Hence, all the above-mentioned factors will fuel the dual lumen market over the forecast period.
 

Based on application, the microcatheters market is categorized into cardiovascular, neurovascular, peripheral vascular, oncology, and others. The cardiovascular segment held major share in the market and accounted for around USD 373 million in 2022. This is primarily attributable to the growing incidence rate of cardiovascular disorders (CVDs) across the world. For instance, as per the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally and it represents more than 30% of total deaths worldwide. Moreover, unhealthy lifestyles, tobacco consumption, and obesity are other factors that lead to cardiovascular diseases. Thus, the increasing prevalence rate of CVDs around the world will stimulate the segmental progression during the forecast period. Hence, the afore-mentioned pointers are projected to spur the product demand over the forecast period.

The North American region dominated the global microcatheters market and accounted for around USD 311 million in 2022. This high revenue share is owing to the growing prevalence of neurovascular and cardiovascular diseases, along with the increasing number of percutaneous coronary intervention procedures in the region. In addition, the surge in government initiatives, well-established healthcare facilities in the region, and availability and accessibility of technologically advanced products are some of the other attributes that are propelling market growth. Hence, all the above-mentioned factors are driving the minimally invasive procedures across the region will in turn boost the market growth positively.
 

Microcatheters Market Share

Terumo Corporation plays a significant role in the microcatheters market due to the product portfolio it offers, its global presence and the R&D proficiency. The company is known for its strong commitment to innovation and providing vital tools in the interventional medicine domain. It also boasts of a clinical expertise through strong partnerships with healthcare professionals and institutions. Terumo Corporation's pivotal leadership in the industry has contributed towards improving healthcare services and products for patients worldwide. It supplies high-quality microcatheters, which enables patients to opt for less-invasive and more effective treatment options.
 

Prominent industry players involved in the microcatheters market include:

• Cardiovascular Systems
• Inc (Abbott Laboratories, Inc.)
• Medtronic plc
• Stryker Corporation
• Boston Scientific Corporation
• Terumo Corporation
• Teleflex Corporation
• Merit Medical System, Inc.

These major industry players implement several strategies to retain a competitive edge in the industry. They focus on strategic collaborations, acquisitions, partnerships, mergers, product launches, etc. to maintain their position in the market and secure the highest market share and outperform the competition.

Microcatheters Industry News

• In December 2022, Boston Scientific Corporation announced the acquisition of Acotec Scientific Holdings Limited, a prominent Chinese medical technology company catering innovative solutions for several interventional procedures. This development has strengthened the company’s operating capabilities in the market.
   
• In April 2019, Medtronic launched the Phenom 21 microcatheter designed for the delivery of various sizes of vascular devices. This innovative device aimed to clear obstructed vessels by removing blood clots, thereby restoring blood flow in individuals with large vessel occlusion. Thus, this product launch helped the company to enhance their product portfolio and increase their business revenue.
   

Microcatheters market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in (USD Million) from 2018 to 2032, for the following segments:

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By Product, 2018 - 2032 (USD Million)

• Delivery Microcatheters
• Diagnostic microcatheter
• Aspiration microcatheter
• Steerable microcatheter

By Design, 2018 - 2032 (USD Million)

• Single lumen microcatheter
• Dual lumen microcatheter

By Application, 2018 - 2032 (USD Million)

• Cardiovascular
• Neurovascular
• Peripheral vascular
• Oncology
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE