Global Microcatheter Market by Product Design (Dual Lumen, Single Lumen), by Product (Steerable, Aspiration, Diagnostic, Delivery) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global microcatheter market was worth USD 1.77 billion. It is projected to grow at a compound annual rate (CAGR of 3.8%) between 2020 and 2027. The market is expected to be driven by the rising prevalence of chronic diseases such as cancer, neurovascular disorders and cardiovascular disease, as well as the increasing use of minimally invasive procedures. The market is also being driven by the adoption of technologically advanced products as well as various government initiatives. The microcatheters are hollow, small tubes that can be inserted into blood vessels for various interventions. They are designed to deliver different interventional devices to blood vessels. They are used in many diagnostic and therapeutic procedures.

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 hypertension. The World Health Organization (WHO) estimates that 41 million people are killed each year from chronic diseases, accounting for 71% of all deaths. The majority of chronic diseases are caused by cardiovascular disease, which accounts for 17.9 millions people each year. Next, neurovascular disorders, most commonly strokes, account for 7.0 million. The market is being driven by an increasing number of 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 burden of cancer in underserved communities. It collaborates with state, local, and national partners to reduce the risk of dying from cancer and improve screening. The Bee Foundation (TBF), a non-profit organisation, 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 disability due to stroke. This number is expected to increase by a third in the next 20 year. Market growth is expected to be boosted by a high rate of chronic diseases.

In addition, the increasing prevalence of chronic diseases in both developed and developing nations has prompted the introduction of technologically advanced products to the market. SwiftNINJA, a Steerable Microcatheter by Merit Medical, 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.

Product Design Insights

The market can be divided into two types based on its product design: single lumen or dual lumen. With a 64.04% share in 2019, the dual lumen microcatheter market was the dominant segment. It is expected to see the most rapid growth during the forecast 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, making it popular for interventional cardiology procedures. Segment growth will be fueled by the dual lumen microcatheter's benefits.

Due to increasing rates of chronic diseases, such as those arising from neurovascular and cardiovascular disorders, the dual lumen microcatheter is seeing increased adoption in developing countries. According to an American Heart Association journal article, stroke is one of the leading causes for 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 demand for dual lumen microcatheters during the forecast period.

Application Insights

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 2019, the cardiology segment was the dominant market. This is because cardiovascular diseases (CVD), have been the leading cause for death in the world over the past 30 years. The WHO estimates that 17.9 million deaths occurred each year in 2016 worldwide. It is predicted that CVD will cause more than 3.6 million deaths by 2030. CVDs are mainly caused by sedentary lifestyles such as obesity, high blood pressure, smoking, and lack of exercise. In the future, the growth of the segment will be boosted by an increase in cardiovascular disease incidence.

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 third most common reason for disability in 2016. Ischemic stroke accounts for 60-80% of strokes. Stroke is most commonly caused by hypertension, smoking and diabetes. The microcatheters are in high demand because of the increasing number and complexity of neurosurgical procedures.

Product Insights

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 was the dominant market. This market is driven by the growing demand for treatment of aneurysms and acute strokes. These catheters can also be used to provide quick recanalization and total cessation blood flow. They also prevent distal embolism from occurring during interventional procedures. 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. Steerable microcatheters allow 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's hand by using the dial on the device's handgrip. The market is expected to grow because of the increasing use of steerable microcatheters in the treatment of peripheral and vascular conditions.

Regional Insights

North America was the dominant market, with 32.93% of the share in 2019. 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 a rising demand for minimally invasive procedures, and the availability technologically advanced products.

Asia Pacific is projected to grow at the highest rate of CAGR over the forecast period. This is due to a growing aging population and a rise in people suffering from stress in Japan. It also has a large population base, improved quality of diagnosis, growing patient affordability, and heightened incidence of chronic diseases. 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 China, India, Japan.

Market Share Insights & Key Companies

Market leaders are focused on the launch and advancement of medical devices, as well as technological advances, and their growth strategies. Medtronic launched the Phenom 21 Microcatheter 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:

• Medtronic Plc

• Terumo Corporation

• Merit Medical System

• Stryker Corporation

• Penumbra Inc.

• Boston Scientific Corporation

• Teleflex Inc.

Up Market Research published a new report titled “Microcatheter Market research report which is segmented by Product Design (Dual Lumen, Single Lumen), by Product (Steerable, Aspiration, Diagnostic, Delivery), By Players/Companies Stryker Corporation, Penumbra Inc, Teleflex Inc, Terumo Corporation, Boston Scientific Corporation, Merit Medical System, Medtronic Plc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Microcatheter Market Report Segments:

The market is segmented by Product Design (Dual Lumen, Single Lumen), by Product (Steerable, Aspiration, Diagnostic, Delivery).

Microcatheter Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Microcatheter Market

Overview of the regional outlook of the Microcatheter Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Microcatheter Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Microcatheter Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Dual Lumen

                2. Single Lumen

                1. Steerable

                2. Aspiration

                3. Diagnostic

                4. Delivery

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Microcatheter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Microcatheter Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.