The global microcatheter market size is expected to reach USD 2.85 billion by 2030, registering a CAGR of 4.52% from 2024 to 2030. Growing prevalence of chronic disorders and increasing demand for minimally invasive procedures are driving the market.
Increase in the incidence of chronic disorders in several countries is anticipated to impact the market growth over the forecast period. For instance, as per the facts published by WHO in 2018, every year 41 million deaths (71%) are reported due to chronic disorders and it is the leading cause of mortality and disability globally. Thus, increasing number of patients suffering from chronic disorders is significantly driving the market.
In addition, technological advancements in the treatment of heart diseases and strokes are expediting overall market growth. For instance, development of steerable microcatheters, which offer an alternative approach to traditional microcatheters and can articulate up to 180 degrees in opposing directions, has fueled the market growth.
Furthermore, increasing awareness about chronic conditions such as heart disease and strokes has resulted in the early diagnosis and treatment of disease. Globally, several initiatives have been introduced by the governments of various nations to improve public awareness. For instance, WHO has launched the “Global action plan for the prevention and control of NCDs 2013 - 2020” nationwide for the prevention and management of chronic disorders.
Increase in the incidence of chronic disorders in several countries is anticipated to impact the market growth over the forecast period. For instance, as per the facts published by WHO in 2018, every year 41 million deaths (71%) are reported due to chronic disorders and it is the leading cause of mortality and disability globally. Thus, increasing number of patients suffering from chronic disorders is significantly driving the market.
In addition, technological advancements in the treatment of heart diseases and strokes are expediting overall market growth. For instance, development of steerable microcatheters, which offer an alternative approach to traditional microcatheters and can articulate up to 180 degrees in opposing directions, has fueled the market growth.
Furthermore, increasing awareness about chronic conditions such as heart disease and strokes has resulted in the early diagnosis and treatment of disease. Globally, several initiatives have been introduced by the governments of various nations to improve public awareness. For instance, WHO has launched the “Global action plan for the prevention and control of NCDs 2013 - 2020” nationwide for the prevention and management of chronic disorders.
Microcatheters Market Report Highlights
- By product design, the dual lumen led the market with the largest revenue share of 64.42% in 2023 and is expected to witness the highest growth during the forecast period as it is widely used for interventional cardiology procedures and it acts like a two microcatheter at a time
- Based on product the aspiration microcatheters led the market with the largest revenue share of 32.45% in 2023 owing to its increasing adoption in the minimally invasive surgeries and it is widely utilized for the removal of thrombus from the blocked vessels
- On the basis of application, the cardiology segment dominated the market in 2023 with the largest revenue share of 28.30% owing to increasing number of cardiovascular disorders globally. In addition, benefits offered by the microcatheters during critical cardiac surgeries is the major factor fueling the segment growth
- North America dominated the market with the revenue share of 31.97% in 2023 owing to greater incidence rate of stroke and cancer and increasing government initiatives.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Microcatheters Market Variables, Trends & Scope
Chapter 4. Microcatheters Market: Product Design Estimates & Trend Analysis
Chapter 5. Microcatheters Market: Product Estimates & Trend Analysis
Chapter 6. Microcatheters Market: Application Estimates & Trend Analysis
Chapter 7. Microcatheters Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Medtronic Plc
- Terumo Corporation
- Merit Medical System
- Stryker Corporation
- Penumbra Inc.
- Boston Scientific Corporation
- Teleflex Inc.
- Asahi Intecc USA, Inc.
- Surmodics, Inc.
- BioCardia Inc
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 171 |
Published | February 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 2.09 Billion |
Forecasted Market Value ( USD | $ 2.85 Billion |
Compound Annual Growth Rate | 4.5% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |