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.
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.
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.
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.
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.
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.
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.
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.
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 792.5 Million |
| Market size forecast in 2028 | USD 1.1 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 5.4% from 2022 to 2028 |
| Number of Pages | 260 |
| Number of Tables | 443 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Product Design, Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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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.
Free Valuable Insights: Global Microcatheter Market size to reach USD 1.1 Billion by 2028
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).
By Product
By Product Design
By End User
By Application
By Geography
The global Microcatheter Market size is expected to reach $1.1 billion by 2028.
Significantly Rise In Prevalence Of Cardiovascular Disease are driving the market in coming years, however, Issues Related To The Use Of Catheters restraints the growth of the market.
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).
The expected CAGR of the Microcatheter Market is 5.4% from 2022 to 2028.
The Dual - Lumen segment acquired maximum revenue share in the Global Microcatheter Market by Product Design in 2021 thereby, achieving a market value of $685.3 million by 2028.
The North America market dominated the Global Microcatheter Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $445.8 million by 2028.
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