Global Microcatheter Market Report and Forecast 2023-2028

Global Microcatheter Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global microcatheter market reached a value of USD 792.9 million in 2022. Aided by the increasing prevalence of cardiovascular disorders and the expanding capabilities of minimally invasive surgical procedures, the market is projected to further grow at a CAGR of 4.50% between 2023 and 2028 to reach a value of USD 1032.54 million by 2028.

Microcatheters are thin, flexible tubes employed in minimally invasive surgical procedures, primarily catering to cardiovascular and neurovascular interventions. These devices are imperative in navigating through the intricate pathways of the human vascular system, delivering drugs, and facilitating the placement of guidewires or stents. The rise in their demand can be attributed to their effectiveness in reducing recovery time, minimising surgical scars, and diminishing hospital stays.

The escalating incidence of cardiovascular diseases (CVDs) worldwide is one of the key microcatheter market trends driving the market growth. As the leading cause of mortality globally, the necessity for innovative and efficient therapeutic techniques, such as those involving microcatheters, is paramount. Additionally, the surge in the aging population, more prone to vascular ailments, further amplifies this demand.

As per the microcatheter market analysis, the evolution in minimally invasive surgeries has played a pivotal role in enhancing the microcatheter's marketability. The ongoing trend of avoiding large incisions, resulting in reduced post-operative pain, quicker recovery, and shorter hospital stays, is increasingly appealing to both medical professionals and patients. Microcatheters, being instrumental in such procedures, are witnessing a concurrent rise in popularity.

Besides cardiovascular interventions, microcatheters are also gaining traction in neurovascular procedures. With the growing occurrence of neurovascular disorders like cerebral aneurysms, the role of microcatheters in facilitating treatments, such as coiling or stent placement, is becoming indispensable. Their precision and flexibility allow physicians to reach challenging locations within the brain's vasculature, underscoring their clinical importance.

Technological advancements in the field of medical devices have also contributed significantly to the microcatheter market growth trajectory. Enhanced tip load ability, improved trackability, and advancements in hydrophilic coating are some of the innovations that have augmented the microcatheter's efficiency, leading to broader acceptance among healthcare practitioners.

Simultaneously, the increasing healthcare expenditure in developed and developing countries underlines the enhanced focus on quality healthcare and the adoption of sophisticated medical equipment. As hospitals and healthcare facilities invest in state-of-the-art devices, the demand for high-quality microcatheters is bound to proliferate.

Yet, the horizon of microcatheter applications is not just limited to cardiovascular and neurovascular interventions. Their potential use in drug delivery, particularly in oncology for targeted chemotherapy, presents a promising avenue for microcatheter market expansion. By ensuring precise drug delivery to tumour sites and minimising systemic exposure, microcatheters can revolutionise cancer treatment modalities.

Market Segmentation

The market can be divided based on product, design, application, end-use, and region.

Market Breakup by Product

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

Market Breakup by Design

• Single-Lumen Microcatheters
• Dual-Lumen Microcatheters

Market Breakup by Application

• Cardiovascular
• Neurovascular
• Peripheral Vascular
• Oncological
• Urological
• Otolaryngological
• Others

Market Breakup by End-Use

• Hospitals, Surgical Centres, and Speciality Clinics
• Ambulatory Surgical Centres

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global microcatheter companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Medtronic Plc
• Teleflex Incorporated
• Penumbra, Inc.
• Boston Scientific Corporation
• Stryker Corporation
• Merit Medical Systems, Inc.
• Asahi Intecc Co., Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.