07-Jun-2021 | Facts and Factors
According to Facts and Factors' most recent research and survey study, the global microcatheters market was valued at roughly USD 760 Million in 2020 and is forecasted to reach USD 1,800 Million by the end of 2026, increasing at an extraordinary CAGR of roughly 8.2% between 2021 and 2026.
Microcatheters are an astute form of catheters that usually range from a diameter range of 0.7 – 1.3 mm in diameter. These devices are usually used for delivering objects to and fro in the human body as well as provide guidewire support, access certain anatomies, inject therapeutic consumables, and providing certain injectables for further medical procedures. The major driving forces behind the significant growth of microcatheters can be credited to the rise in chronic diseases among the aging population as well as disorders relating to cardiovascular, neurovascular, and cancerous conditions.
Additional factors that credit the rise of microcatheters include improved features such as decreased failure rates and procedural times and the real-time ability to change the degree of angulation. Moreover, a litany of efforts from the combination of government bodies and global organizations to exchange valuable information about the advantages of microcatheters will further propel the growth of the market during the forecast.
Top Market Players
The key participants in the global microcatheters market are Medtronic Plc., Terumo Corporation, Merit Medical Systems, Stryker Corporation, Penumbra, Inc., Boston Scientific Corporation, Teleflex, Inc., ASAHU INTECC CO. LTD., Cook Group International, Becton, Dickinson and Company, AngioDynamics, Inc., and B. Braun Melsungen, among others.
Market Dynamics
Here are some notable advancements and collaboration in recent times aimed at the microcatheters market –
- The region of Japan (ASAHI INTECC CO. LTD.) recently collaborated with a firm of the United States (Medtronic Plc.) to introduce a range of guidewire catheters in the region.
- Merit Medical Systems, Inc. collaborated with Argon Medical Devices and Catheter Connections, Inc. in order to extend its product range.
- Merit Medical Systems, Inc. furthers the FDA’s approval for SwiftNINJA steerable range of microcatheters.
By design, the global microcatheters market shows dominance in the dual lumen category owing to various benefits such as quick access to procedural websites. In this, multiple analgesics or drug infusions can be administered consecutively rather than using multiple perfusions. Dual lumen is mostly the preferred technology for interventional cardiology procedures. Furthermore, the rising prevalence of chronic diseases including cardiovascular or neurovascular diseases has increased the adoption of microcatheters in the developing regions, which is then projected to enhance the demand for lumen microcatheters.
The market can be divided into delivery, diagnostic, aspiration, and steerable microcatheter based on the type. Aspiration microcatheters are expected to lead the market during the forecast timeframe owing to a rising occurrence of acute stroke, aneurysms, and peripheral artery-based disorders. Aspiration-based microcatheters also offer additional advantages such as rapid recanalization, complete prevention of blood flow, and efficient preventative abilities for conditions such as embolism at the time of operations.
Based on the end-user, the market is categorized into Hospitals, Surgical Centers, Specialty Clinics, and Ambulatory Care Centers. The hospital category accounted for the largest market share due to the rise in the number of hospitals and specialty clinics in developing nations; growing prevalence of target diseases, and also a surge in the performance of surgical and diagnostic procedures across these facilities.
On the basis of application, the global microcatheters market can be divided into cardiology, neurology, peripheral vascular, oncology, urology, otolaryngology, and others. The segment of cardiology will witness the largest market share owing to the current trend of increase in cardiovascular incidences over the forecast. The segment of neurology will witness the fastest growing CAGR during the forecast.
North America Will Witness The Highest Growing Market Share During the Forecast Timespan
North America is expected to witness the largest market share during the forecast period owing to a litany of factors pertaining to better healthcare establishments, increased healthcare spending among consumers, widened government incentives, raising awareness among consumers, and better healthcare infrastructures. The region of Asia-Pacific is expected to witness the fastest CAGR during the forecast owing to various crediting factors such as an increasing in the aging population in emerging economies such as Japan, China, and India. Additional factors for the significant rise in the region can be accredited towards improved healthcare facilities and increased consumer spending.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 760 Million |
Projected Market Size in 2026 |
USD 1,800 Million |
Growth Rate |
CAGR 8.2% |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
Medtronic Plc., Terumo Corporation, Merit Medical Systems, Stryker Corporation, Penumbra, Inc., Boston Scientific Corporation, Teleflex, Inc., ASAHU INTECC CO. LTD., Cook Group International, Becton, Dickinson and Company, AngioDynamics, Inc., and B. Braun Melsungen and Others |
Key Segment |
By Type, By Application, By Design, By End-User and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Browse the full “Microcatheters Market By Design (Single Lumen & Dual Lumen), By Type (Delivery Microcatheter, Aspiration Microcatheter, Diagnostic Microcatheter, & Steerable Microcatheter), By Application (Cardiology, Neurology, Peripheral Vascular, Oncology, Urology, Otolaryngology, & Others), By End-User (Hospitals, Surgical Centers, Specialty Clinics, and Ambulatory Care Centers), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/microcatheters-market.
The global microcatheters market can be segmented into:
By Design
- Single Lumen Microcatheters
- Dual Lumen Microcatheters
By Type
- Delivery Microcatheter
- Aspiration Microcatheter
- Diagnostic Microcatheter
- Steerable Microcatheter
By End-User
- Hospitals
- Surgical Centers
- Specialty Clinics,
- Ambulatory Care Centers
By Application
- Cardiology
- Neurology
- Peripheral Vascular
- Oncology
- Urology
- Otolaryngology
- Others
By Region
- North America
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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