Microcatheters Market is segmented by Type (Delivery, Diagnosis, Aspiration, Steerable), Design (Single, Dual Lumen), Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology, Urology), End-User (Hospital, Specialty Clinics)
The Microcatheters Market is expected to reach USD 980 million by 2028 at a CAGR of 5.0% from 2021 to 2028.
Microcatheters are commonly utilized for guide wire support, accessing distal anatomy, cross lesions, injecting contrast media and endovascular procedures which are complex in nature. These catheters has a diameter of 0.70-1.30mm.
Microcatheters Market Growth and Trend
The primary growth factors of this market are: increase in the target patient population who has cardiovascular diseases, cancer and disorders in neurovascular system. Another driving factor in the growth of microcatheters market is the increase of demand for minimally invasive surgical procedures and popularity of a handful of micro catheter-assisted clinical studies.
Another driving factor is that emerging markets see growth opportunities for key players whose operations are focused on microcatheters market.
Increase in the demand of patients who prefer minimally to non-invasive procedures is also a key factor in the spike of market growth..
Restraints in the Microcatheters Market
The pandemic negatively affected number of clinical and surgical procedures such as neurovascular, cardiovascular among others. One of the main factors in the set back is because end users are controlling high-risk surgical procedures which may cause the spread of the virus infection even more. Change in the healthcare facilities’ protocols and government initiatives to limit travel of supplies make it difficult for end users to provide surgical procedures to patients having cardiac diseases and clinical emergencies.
The expansion of Microcatheters market can also be attributed to the increase number of patient suffering from chronic diseases. Cardiovascular Diseases being the leading cause of mortality made the demand for microcatheters increase because it is used for diagnosis, guide wire supports, and delivery of embolic agents in a minimally invasive way.
Microcatheters Market Segmentation
Microcatheters Market is segmented by product type, cancer type, end user segment and by region segment. By product type segment, the steerable micro catheter is projected to peak at the highest rate because of the increase in number of image-guided procedures and minimally invasive surgeries. The shift from manual operations to robotic operated ones causes the surge in demand. Spike in the cases of patients suffering from vascular diseases and efficient procedural advantages of steerable microcatheters are the main attributes that made such segment grow at a fast CAGR exponentially.
In terms of cancer type segment, the largest share in this market in 2020 comes from the liver cancer segment. Main factor is the increase in number of patients having liver cancer and the growing numbers of clinical research activities dedicated to focus on liver cancer therapies by using microcatheters.
Based on end user segment, hospitals, surgical center and specialty clinics has accounted for with the largest market share in 2020. The factor for such is the high demand for these end users in emerging countries; performance of a great number of surgical and diagnostic procedures performed in these facilities together with the prevalence of chronic diseases relative to the use of microcatheters are the main factors in the growth of this segment.
Microcatheters Market Country Analysis
Initially, North America is projected to reach the largest share in the market way back in 2018. Asia Pacific, however, is anticipated to grow at the highest CAGR compared to other region segment.
Other regions in the segment such as India, China, South Korea together with Japan and Australia are expected to reflect a high-growth market potential as market players in the microcatheters industry.
This is of course due to the increase count of patients diagnosed with target diseases, improving healthcare system and infrastructure in Asian countries as well as benefits offered by the government in relation to such treatments.
Microcatheters Market Share and Competition
The Microcatheters Market are known to have the leading players in the industry such as: Boston Scientific Corporation (US), Medtronic Plc (Ireland), Terumo Corporation (Japan), MERIT MEDICAL SYSTEMS, INC. (US), Johnson and Johnson (US), Stryker Corporation (US), Cook Group Incorporated (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), AngioDynamics, Inc. (US), Penumbra (US), and BTG PLC (UK).
Key Market players have performed growth strategies that aided the boost in the industry which includes enhancements, product launches, collaborations with other prospective key players and strategic acquisitions were utilized to improve their product portfolios and stayed relevant in the industry competition through effective business strategies involving the use of microcatheters. Most key players have adopted efficient growth strategies that’s why there is also an increase in the number of emerging markets associated with microcatheters market.
The leading player in this market based on key players segment is Medtronic Plc (Ireland). They are adopting and focusing on business growth strategies and takes advantage of the driving factors. Medtronic Plc also opted to adopt strategies like acquisitions and expansions to strengthen their product portfolio. In 2015, they have acquired Covidien valued at USD 42.9 billion.
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• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
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• Client list and case studies
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Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2021 - 2028)
• Delivery Microcatheters
• Aspiration Microcatheters
• Diagnostic Microcatheters
• Steerable Microcatheters
Design Analysis (Revenue, USD Million, 2021 - 2028)
• Single-Lumen Microcatheters
• Dual-Lumen Microcatheters
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Peripheral Vascular
• Other Application
End User Analysis (Revenue, USD Million, 2021 - 2028)
• Hospitals, Surgical Centers, and Specialty Clinics
• Ambulatory Surgical Centers
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Microcatheters Industry Research Report
• Europe Microcatheters Industry Research Report
• Asia Pacific Microcatheters Industry Research Report
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