Microcatheters Market By Product Type (Delivery Microcatheter, Aspiration Microcatheter, Diagnostic Microcatheter, Steerable Microcatheter), By Application (Cardiovascular, Neurovascular, Peripheral Vascular, Urology, Otolaryngology, Other Applications), By Product Design (Single Lumen Microcatheter, Dual Lumen Microcatheter), By End User (Hospitals and Clinics, Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031
The microcatheters market was valued at $748.88 million in 2021, and is estimated to reach $1,240.44 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Microcatheters are small 0.70-1.30 mm diameter catheters used in minimally invasive applications. They are flexible and are inserted into the vessel or body cavity, which allows in the drainage of fluids or gases with the help of different surgical instruments. Blood pressure can be measured by microcatheters by placing them in a vein or artery. Microcatheters are regularly used to depict the finical wall. These little catheters are perfect for exploring the immense system of modest veins found inside the body. These small catheters are ideally used for navigating a vast network of tiny veins found within the body. Micro-catheters are commonly found throughout the medical device and healthcare industry.
Microcatheter is widely used in the diagnosis & treatment of cardiovascular diseases, neurovascular diseases, peripheral vascular diseases, urological diseases, and otolaryngological diseases. Microcatheter is used for retrieval of clot, delivery of therapeutics & diagnostic agent, in biopsy for taking sample of tissue through tip of catheter, and in withdrawing fluid, food, tissue or other substance. The wide application of microcatheter boost the growth of microcatheters market.
Major factors that drive the growth of the microcatheters market include rise in prevalence of chronic heart disease such as aneurysms, blocked coronary artery, blood clots, atherosclerosis, heart attack, increase in case of plaque blocking a blood vessel, re-narrowing of the artery, and infection of the vessel. For instance, according to National Center for Health Statistics, every year, about 805,000 people in the U.S. have a heart attack. Out of these 805,000 people, 605,000 people have a first heart attack and 200,000 people happen to be those who already had a heart attack.
The rise in incidences of neurovascular diseases such as ischemic stroke along with the demand for minimally invasive procedures and surge in geriatric population suffering from diseases drive growth of the microcatheters market. For instance, according to the National Center for Health Statistics, every year, more than 795,000 people in the U.S. have a stroke. About 610,000 of these are first or new strokes. In addition, according to the Center for Disease Control and Prevention, approximately 87% of all strokes reported are ischemic stroke. Hence, such factors propel the market growth.
Microcatheters are widely used in the treatment of cancer, therefore the rise in number of cancer cases has led to high adoption of microcatheters, hence, fueling growth of the microcatheters market. For instance, according to American Cancer Society, in 2021, It was that estimated 1.9 million new cancer cases was diagnosed and 608,570 people died due to cancer in U.S.. According to this report, estimated new cancer cases of female breast cancer (281,550), uterine cervix cancer (14,480), colon & rectum cancer (149,500), uterine corpus cancer (66,570), leukemia cancer (61,090), lung & bronchus cancer (235,760), melanoma of the skin cancer (106,110), non-Hodgkin lymphoma cancer (81,560), prostate (248,530), urinary bladder cancer (83,730) was diagnosed in 2021 in the U.S. Each year, approximately 400,000 children develop cancer. Overall cancer incidence rates, or rates of new cancers, continue to rise slightly in women and children.
In addition, technological advancements; launch of various products; strategies among key players such as acquisition, collaboration, and agreement drive the growth of microcatheters market. For instance, in September 2021, Boston Scientific Corporation announced the acquisition of Baylis Medical Company Inc., a company that offers advanced transseptal access solutions as well as guidewires, sheaths, and dilators used to support catheter-based left-heart procedures.
However, unfavorable reimbursements as well as complications such as stricter regulatory rules and lengthy approval times hinder the market growth. The market growth of the microcatheters is restrained owing to high cost of microcatheters and treatment procedures.
Furthermore, healthcare business is predicted to witness growth, owing to rise in prevalence of cardiac diseases, neurovascular diseases & cancer, increase in R&D investments in drug discovery & development, and rise in awareness regarding minimal invasive procedures. This is anticipated to offer remunerative opportunities for key players to invest in the market during the forecast period.
The microcatheters market is segmented on the basis of product type, application, design, end user, and region. On the basis of product type, the market is classified into delivery microcatheter, aspiration microcatheter, diagnostic microcatheter, and steerable microcatheter. By application, the market is segregated into cardiovascular, neurovascular, peripheral vascular, urology, otolaryngology, and others. By product design, it is classified into single lumen microcatheter and dual lumen microcatheter. By end user, it is fragmented into hospitals & clinics and ambulatory surgical centers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players profiled in the report are Asahi Intecc Co., Ltd. Boston Scientific Corporation, Cardinal Health, Inc., Cook Group Incorporated, Johnson and Johnson, Medtronic Plc, Merit Medical Systems, Inc., Stryker Corporation, Teleflex Incorporated, Terumo Corporation
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the microcatheters market analysis from 2021 to 2031 to identify the prevailing microcatheters market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the microcatheters market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global microcatheters market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Design
- Single Lumen Microcatheter
- Dual Lumen Microcatheter
By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
By Product Type
- Delivery Microcatheter
- Aspiration Microcatheter
- Diagnostic Microcatheter
- Steerable Microcatheter
- Peripheral Vascular
- Other Applications
- North America
- Rest Of Europe
- South Korea
- Rest Of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest Of LAMEA
- Key Market Players
- Asahi Intecc Co., Ltd.
- Boston Scientific Corporation
- Cardinal Health, Inc.
- Cook Group Incorporated
- Johnson And Johnson
- Medtronic Plc
- Merit Medical Systems, Inc.
- Stryker Corporation
- Teleflex Incorporated
- Terumo Corporation