Global Microcatheter Market Size, Share & Industry Trends Analysis Report By Product (Delivery, Diagnostic, Aspiration and Steerable), By Product Design (Dual –Lumen and Single Lumen), By End User, By Application, By Regional Outlook and Forecast, 2022

Global Microcatheter Market Size, Share & Industry Trends Analysis Report By Product (Delivery, Diagnostic, Aspiration and Steerable), By Product Design (Dual –Lumen and Single Lumen), By End User, By Application, By Regional Outlook and Forecast, 2022 - 2028

The Global Microcatheter Market size is expected to reach $1.1 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period.

A microcatheter is a single luminal catheter with a tiny diameter that is used in minimally invasive procedures. These tiny veins in the human body make up a vast network that these microcatheters are perfect for navigating. These gadgets are widely used in the medical device and healthcare sectors.

The market is projected to grow in the prevalence of cardiac illnesses, government measures to support better facilities, and an increase in the use of microcatheters. The primary drivers anticipated to propel the market are the increase in chronic diseases including cancer, neurovascular disorders, cardiovascular disorders, and other such diseases, along with the increased use of minimally invasive procedures.

Microcatheters are utilised in many different diagnostic and therapeutic treatments. They are designed to deliver different interventional equipment to the blood arteries. The artery microcatheter, neurovascular microcatheter, urinary microcatheter, and peripheral microcatheter are the most frequently utilised microcatheters.

Microcatheters can be used to access even the most complex venous network. As a result of improved technology development and growing adoption of minimally invasive procedures, it is anticipated that the market will grow faster than average in the coming years.

COVID-19 Impact Analysis

The COVID-19 pandemic increased people's awareness of the importance of maintaining good physical, mental, and emotional health. This has led to a rise in the use of medical devices like microcatheters. However, the introduction of multiple COVID-19 vaccinations has made it easier for individuals to seek medical attention for disease diagnosis, which is projected to lead to an increase in the need for microcatheters for disease detection and treatment. Additionally, delayed procedures are now being conducted, which boosts demand for microcatheters and propels the industry's expansion.

Market Growth Factors

Significantly Rise In Prevalence Of Cardiovascular Disease

The leading global cause of morbidity and mortality is cardiovascular disease (CVD). Cerebrovascular disease, rheumatic heart disease, coronary heart disease, and other conditions may fall within the category of CVDs. The main lifestyle variables contributing to CVDs and the challenges they cause include tobacco chewing, inhalation, or consumption, an unhealthy diet and obesity, increasing alcohol use, and a lack of physical activity. The need for cardiovascular devices is projected to rise due to the significantly increased prevalence of CVDs worldwide, which will drive the microcatheter market's expansion during the upcoming years.

The population is getting older

One of the main concerns facing emerging nations globally is the growing older population. It is also projected that the prevalence of chronic conditions in the aged, like heart disease, peripheral arterial disease, and venous thromboembolism, would fuel market expansion for catheters. According to the Centers for Disease Control and Prevention, peripheral vascular disease will affect more than 19.1% of persons aged 55 to 65 by 2020, with nearly 27% of men and more than 21% of women being impacted.The market for micro catheters is expanding as there are more elderly people.

Market Restraining Factors

Issues Related To The Use Of Catheters

Patients with bladder catheters may experience cramp-like contractions. It hurts when the balloon has been compelled out of the bladder. To lessen the frequency and severity of the spasms, patients may need medication. Another issue with indwelling catheters is catheter leaking. This could happen as a result of bladder spasms or faeces. Furthermore, it's important to check if the catheter is draining because leaks could indicate a plugged catheter. An indwelling catheter might also result in blood or debris getting into the catheter tube. The use of catheters might spread a lot of bacteria that can lead to serious illnesses and impede market expansion.

Product Outlook

Based on Product, the Microcatheters Market is classified into Delivery, Aspiration, Diagnostic, and Steerable segments. The delivery segment dominated the market with the largest revenue share in 2021. Compared to other microcatheters, delivery microcatheters are readily available and simple to use. They function effectively and have had favourable results in patients receiving delivery microcatheters.

End User Outlook

Based on End User, the Microcatheters Market is classified into Hospitals, Surgical Centers and Specialty Clinics, and Ambulatory Care Centers. Hospitals, Surgical Centers and Specialty Clinics accounted for the highest revenue share in the market in 2021. Because hospitals, surgical centres, and specialty clinics execute the majority of minimally invasive treatments. More and more cardiovascular and neurovascular treatments are being performed, mostly in hospitals where skilled surgeons carefully and minutely carry out the minimally invasive technique.

Product Design Outlook

Based on Product Design, the Microcatheters Market is classified into Dual - Lumen and Single Lumen segments. In 2021, the single lumen sector will hold a sizable market share. A single lumen balloon-tipped micro catheter with the shaft strengthened at the distal end and extending into the balloon to prevent sharp changes in stiffness. A thermoplastic polyisoprene rubber with improved performance and manufacturing characteristics, such as hydrogenated polyisoprene, may be used to make the balloon.

Application Outlook

Based on the Application, the Microcatheters Market is classified into Cardiovascular, Neurovascular, Peripheral Vascular, and Oncology. During the projection period, the neurovascular segment is anticipated to increase at the highest rate. According to estimates from the WHO, ischemic strokes account for 60 to 80 percent of all strokes and are estimated to be the second most prevalent cause of death and disability worldwide in 2016. The three main risk factors for stroke are diabetes, hypertension, and smoking. Thus, the demand for microcatheters is rising as a result of a rise in neurological treatments.

Regional Outlook

Based on the geography, the Microcatheters Market is classified into North America, Europe, Asia Pacific, and LAMEA. North America dominated the market in 2021 as a result of the region's established healthcare infrastructure, expanding government efforts, campaigns to increase public awareness of chronic illnesses, and high incidence of heart disease and stroke. The regional market is growing for a variety of reasons, including the accessibility of high-tech goods and the increase in demand for minimally invasive procedures.

The major strategies followed by the market participants are Acquisition. Based on the Analysis presented in the Cardinal matrix; Johnson and Johnson is the forerunners in the Microcatheter Market. Companies such as Boston Scientific Corporation, Terumo Corporation and Medtronic Corporation are some of the key innovators in Microcatheter Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Johnson & Johnson, Becton, Dickinson and Company, Boston Scientific Corporation, Terumo Corporation, Teleflex, Inc., Stryker Corporation, Merit Medical Systems, Inc., Cardinal Health, Inc., and Cook Medical, Inc. (Cook Group).

Recent Strategies Deployed in Microcatheter Market

Product Launches and Product Expansions:

Jul-2021: Terumo Medical Corporation unveiled AZUR™ Vascular Plug, a plug compatible with a microcatheter to occlude arteries up to 8mm in diameter. The product shows a balance of properties - accuracy, stability, and reliable occlusion. The technology has specific merits which make it market first in embolotherapy aimed to provide better economic benefits and clinical outcomes.

Acquisitions and Mergers:

Nov-2022: Johnson & Johnson signed an agreement to acquire Abiomed, a medical device technology company. This acquisition broadens Johnson & Johnson's offerings as well as helps patients.

Aug-2022: Boston Scientific Corporation took over Obsidio, Inc., a company engaged in the development of the Gel Embolic Material (GEM™) technology utilized in the embolization of blood vessels in the peripheral vasculature. Through this acquisition, Boston Scientific Corporation enhances its interventional oncology and embolization suite with an evolved solution for physicians and their patients suffering from hemorrhages, cancer, and other debilitating conditions.

Feb-2022: Boston Scientific Corporation completed the acquisition of Baylis Medical Company Inc., a company engaged in providing modern transseptal access solutions as well as sheaths, dilators, and guidewires, utilized for supporting catheter-based left-heart procedures. Through this acquisition, Boston Scientific Corporation becomes the only company to combine a complete access suite with available left-heart therapies including atrial fibrillation ablation and left atrial appendage closure, delivering physicians with a comprehensive toolbox to treat patients with efficiency, safety, and efficacy.

Feb-2022: Stryker announced the acquisition of Vocera Communications, Inc., a company engaged in digital care communication and coordination. Through this acquisition, Vocera provides a supportive and advanced suite to Stryker’s Medical division that would improve Stryker's Advanced Digital Healthcare suite and accelerate Stryker’s focus on preventing adverse events across the cycle of care.

Sep-2021: Boston Scientific Corporation signed an agreement to acquire Devoro Medical, Inc., a developer company of the WOLF Thrombectomy® Platform. This acquisition aligns with the advanced technology of Devoro Medical, Inc. and broadens Boston Scientific Corporation's portfolio of interventional strategies for thromboembolic which consists of the AngioJet™ Thrombectomy System and EkoSonic™ Endovascular System.

Dec-2020: Teleflex Incorporated acquired Z-Medica, LLC, a manufacturing company of hemostatic products. Under this acquisition, Teleflex boosts its strength in military call points, hospitals, and EMS, with the advanced product that aligns with EZ-IO and EZPLAZ 1 product offerings.

Jul-2020: Terumo Corporation acquired Quirem Medical B.V., a healthcare startup with expertise in the development of next-generation microspheres for Selective Internal Radiation Therapy (SIRT), a treatment for liver tumors. The acquisition of Quirem Medical boosts its business, broadens its manufacturing and clinical development activities, and aligns its complete portfolio to support its customers.

Approvals and Trials:

Apr-2022: Boston Scientific Corporation received an FDA approval for EMBOLD™ Fibered Detachable Coil, indicated to obstruct or decrease the rate of blood flow in the peripheral vasculature. The multi-catheter compatibility delivers the adaptability of catheter choice and helps decrease the possible number of device exchanges to enhance procedure productivity and allow improved patient outcomes.

Feb-2022: Medtronic plc received FDA approval for Freezor™ and Freezor™ Xtra Cardiac Cryoablation Focal Catheters, an ablation catheter used to treat the rising prevalence of pediatric Atrioventricular Nodal Reentrant Tachycardia. The product enables the youngest of cardiology patient access to a life-enhancing, safe technology that will help advance cardiac care for Atrioventricular Nodal Reentrant Tachycardia.

Scope of the Study

Market Segments covered in the Report:

By Product

• Delivery
• Diagnostic
• Aspiration
• Steerable

By Product Design

• Dual - Lumen
• Single Lumen

By End User

• Hospitals, Surgical Centers & Specialty Clinics
• Ambulatory Care Centers

By Application

• Cardiovascular
• Neurovascular
• Peripheral Vascular
• Oncology

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Medtronic PLC
• Johnson & Johnson
• Becton, Dickinson and Company
• Boston Scientific Corporation
• Terumo Corporation
• Teleflex, Inc.
• Stryker Corporation
• Merit Medical Systems, Inc.
• Cardinal Health, Inc.
• Cook Medical, Inc. (Cook Group)

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