Microcatheters Market Hitting New Highs By 2028 | by Medtronic Plc, Terumo Corporation, Merit Medical System

New Jersey, United States - Analysis of Microcatheters Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The size of the global Microcatheter Market, which was estimated at USD 1.77 billion in 2019, is anticipated to increase at a CAGR of 3.8% from 2022 to 2028. The primary drivers anticipated propelling the market are the rise in chronic diseases including cancer, cardiovascular disorders, neurovascular disorders, and other diseases, as well as the increased use of minimally invasive procedures. Additionally, the market is expanding as a result of numerous government programs and the adoption of technologically improved products. Microcatheters are tiny, hollow tubes used in a variety of interventional procedures that are put into blood vessels. These are utilized in different diagnostic and therapeutic procedures and are designed to deliver various interventional devices to the blood arteries.

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The artery microcatheter, urinary microcatheter, neurovascular microcatheter, and peripheral microcatheter are the most frequently utilized microcatheters. The most intricate venous network can be reached with the aid of microcatheters. Thus, it is expected that the market will develop faster than average in the next years as a result of increased technological advancement and increasing acceptance of minimally invasive techniques. The adoption of an unhealthy lifestyle is fueling the occurrence of chronic illnesses, which is driving the market's expansion. The main risk factors for illnesses like heart disease, cancer, and neurovascular strokes are hypertension, smoking, and obesity. The World Health Organization (WHO) estimates that chronic illnesses cause 41 million deaths annually, or 71% of all fatalities, worldwide. Cardiovascular illnesses are the primary cause of chronic disease fatalities, which yearly affect 17.9 million people, followed by neurovascular conditions, primarily strokes (7.0 million). As a result, the market is primarily driven by the rising number of patients with cardiovascular and neurovascular illnesses.

Division segment:
The market is divided into single-lumen and dual-lumen microcatheters based on product design. With a market share of 64.04% in 2019, the dual-lumen microcatheter category led the whole market and is predicted to grow at the highest rate throughout the forecast period. The advantages of a dual-lumen microcatheter include simple access to the surgical site. Additionally, many analgesic or medication infusions may be given concurrently rather than numerous perfusions. It also performs the same functions as two microcatheters and is favored for interventional cardiology procedures. The advantages of a dual-lumen microcatheter are therefore anticipated to drive market expansion.

The market is divided into categories for cardiology, neurology, peripheral vascular, oncology, urology, otolaryngology, and others based on application. Given that cardiovascular diseases (CVD) have overtaken all other causes of death in the past three decades, the cardiology segment dominated the entire market in 2019 with a share of 29.63%. In 2016, 17.9 million people died worldwide, according to the WHO. Furthermore, it is projected that by 2030, more than 3.6 million people will pass away from CVD. One of the main factors contributing to CVDs is a sedentary lifestyle, which includes low physical activity levels, obesity, drinking, smoking, and high blood pressure. Thus, it is anticipated that the category will expand faster in the coming years due to the rising prevalence of cardiovascular disorders. Delivery microcatheters, aspiration microcatheters, diagnostic microcatheters, and steerable microcatheters are the several product categories into which the market is divided. With a market share of 33.43%, aspiration microcatheters led the entire market in 2019. One of the key factors influencing this market is the rising need for the treatment of acute strokes, aneurysms, and peripheral artery disorders.

Regional analysis:
With a market share of 32.93% in 2019, North America held the majority of the market due to the region's established healthcare facilities, growing government initiatives, campaigns to raise awareness of chronic illnesses, and higher rates of heart disease and stroke. Additionally, the availability of technologically sophisticated products and an increase in demand for minimally invasive procedures are factors in the expansion of the regional market.

Due to factors like a growing older population, an increase in the number of people experiencing stress in nations like Japan, an increase in the incidence of chronic diseases, a sizable population base, better diagnostic quality, and rising patient affordability, Asia Pacific is anticipated to grow at the highest CAGR during the forecast period. The Asia Pacific region has seen a considerable increase in interventional procedures as a result of these factors taken together. In addition, the existence of high-growth potential in developing nations like China, India, and Japan is probably going to support market expansion in this area.

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Competitive analysis:
Some of the prominent players in the microcatheter market include:
• Medtronic Plc
• Terumo Corporation
• Merit Medical System
• Stryker Corporation
• Penumbra Inc.
• Boston Scientific Corporation
• Teleflex Inc.

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