GLOBAL MICROCATHETER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global microcatheter market was valued at during the forecast period. US$ 2.06 Bn in 2023 and is expected to reach US$ 2.85 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.

Microcatheters are catheter devices that have a luminal diameter of less than 1.8mm (0.07 inches), allowing passage through arteries and veins of less than 1.8mm. They are commonly used in image-guided endovascular surgeries to deliver embolization coils and chemotherapy drugs for the treatment of cerebral aneurysms and cancer, respectively. Increasing preference for minimally invasive procedures, rising burdens of cardiovascular diseases and cancer, and advancements in endovascular therapies are some major factors expected to drive growth of the global microcatheter market during the forecast period.   

Global Microcatheter Market- Regional Insights

• North America is expected to be the largest market for microcatheter during the forecast period, accounting for over 35.7% of the market share in 2024. The North America microcatheter market is driven by the rising geriatric population, the growing prevalence of target diseases, and the increasing adoption of minimally invasive surgeries.
• Asia Pacific market is expected to be the second-largest market for microcatheter market, accounting for over 25.2% of the market share in 2024. The driver for Asia Pacific microcatheter market is the increasing aging population, which is more prone to developing cardiovascular and neurovascular diseases. Also, growing awareness about effective treatment options and rising healthcare spending are supporting market growth.
• Europe market is expected to be the fastest-growing market for microcatheter market, with a share of 19.0% during the forecast period. The Europe microcatheter market is driven by the rising incidence of cardiovascular diseases and neurological disorders, the increasing adoption of minimally invasive surgeries, and technological advancements. However, the high cost of microcatheters and procedures hinders market growth.

Figure 1. Global Microcatheter Market Share (%), By Region, 2024

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Analyst View: The global microcatheter market is poised to grow at a steady pace over the next five years. One of the key drivers for market growth is the rising demand for minimally invasive surgeries across the world. Microcatheters help enable minimally invasive procedures by aiding in the accurate delivery of devices to narrow and tortuous vessels. However, a lack of proper healthcare infrastructure and access in developing regions may negatively impact market growth. The high cost of microcatheters also remains a key restraint for its widespread adoption.

Global Microcatheter Market- Drivers

• Increasing number of minimally invasive surgeries: The global microcatheter market is witnessing significant growth owing to the rising adoption of minimally invasive surgical procedures worldwide. Minimally invasive surgeries, such as laparoscopy and arthroscopy offer several benefits over traditional open surgeries such as less pain, fewer complications, a shorter hospital stay, and a faster recovery time. This has increased patient preference for such surgeries in recent years. Microcatheters play a vital role in various minimally invasive procedures, such as neurointerventional surgeries, cardiovascular surgeries, and urological surgeries. They help physicians navigate through blood vessels or other narrow pathways of the body to reach the target location with high precision.
• Technological advancements in microcatheters: Technological advancements in microcatheter design and functionality are a major factor boosting the global microcatheter market. Microcatheters are becoming increasingly sophisticated to enable superior navigation across complex vascular anatomies. Manufacturers are developing microcatheters with enhanced pushability, trackability, and torque response to facilitate first-pass selectivity in advanced endovascular procedures. The materials and construction methods used for modern microcatheters allow for greater flexibility near the distal tip combined with robust support proximally. This makes navigating tortuous vessels and bypassing blockages or narrowings much less demanding. New hydrophilic coating technologies on microcatheter surfaces minimize friction during navigation as well. Such design refinements translate to reduced procedure time and trauma for patients.
• Increasing prevalence of cardiovascular diseases: The increasing prevalence of cardiovascular diseases across the globe is a major driver for the growth of the global microcatheter market. Cardiovascular diseases (CVDs) have become one of the largest global health challenges. For instance, according to the U.S. Centers for Disease Control and Prevention (CDC), heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the U.S. One person dies every 34 seconds in the U.S. from cardiovascular disease. Thus, with the rise in the burden of cardiovascular diseases, the demand for cardiovascular diagnostics and treatment devices is also increasing at a rapid pace in the U.S.

Global Microcatheter Market- Opportunities

• Growing awareness about benefits of minimally invasive treatment: Growing awareness about the benefits of minimally invasive treatments has opened promising opportunities for the global microcatheter market. In recent years, there has been a significant shift towards a preference for low-risk procedures that can help reduce recovery time and morbidity. Microcatheters allow targeted, precise delivery of devices or therapeutic agents internally with minimal tissue displacement. As such, they are increasingly being used for a variety of minimally invasive procedures like neurovascular interventions, cardiovascular interventions, and urological procedures.
• Expanding applications of microcatheters: Microcatheters have found increasing usage in a variety of minimally invasive procedures in recent years. Their ability to navigate complex vascular anatomies and deliver therapeutic devices has enabled treatments for several cardiovascular and neurovascular diseases. The growing disease burden and rising adoption of minimally invasive techniques will drive greater demand for microcatheters in the coming years. Applications that were earlier considered experimental are now becoming standard practice. For instance, microcatheters are increasingly being used for thrombectomies to remove dangerous blood clots during stroke.

Global Microcatheter Market- Trends

• Adoption of robotic-assisted surgeries: The rising adoption of robotic-assisted surgeries across the globe is having a significant impact on the microcatheter market. Robotic systems are allowing doctors to perform minimally invasive surgeries with more control and precision than traditional open surgeries or even laparoscopic procedures. For instance, in October 2022, the pre-clinical medical device company Microbot Medical Inc. announced that it had acquired the assets of privately held Nitiloop Ltd. as part of its ongoing regulatory and commercialization efforts, in line with its strategic goal to enable accessibility to multiple endovascular procedures worldwide. The acquisition includes the NovaCross family of microcatheters, a U.S. Food and Drug Administration (FDA) cleared family of medical devices intended to facilitate the intraluminal placement of conventional and steerable guidewires beyond stenotic lesions, including chronic total occlusions (CTO), prior to Percutaneous transluminal coronary angioplasty (PTCA) or stent intervention. The company created a collection of procedure-related kits that are customized for the LIBERTY Robotic System.
• Rising demand for neurovascular microcatheters: The demand for neurovascular microcatheters has been increasing significantly over the past few years, and this trend has greatly influenced the global microcatheter market. Neurovascular microcatheters are very small and flexible tubes that are used in minimally invasive procedures within the brain and spinal cord vasculature to treat conditions like aneurysms, arteriovenous malformations, and arteriovenous fistulas. As the prevalence of neurovascular diseases is on the rise and the aging population is more susceptible to such conditions, the use of microcatheters in intricate neurointerventions has seen a parallel surge.

Global Microcatheter Market - Restraints

• Risk of infection associated with microcatheters: The risk of infections associated with microcatheters is one of the major restraints for the global microcatheter market. Microcatheters are thin, tube-like medical devices that are used for minimally invasive procedures such as angiography and angioplasty. However, their use also poses certain infection-related risks. Microcatheters are inserted into the body through small pores or vascular access points. This process of insertion can sometimes lead to contamination of the catheter tip if proper sterile procedures are not followed. Once contaminated, these catheters can serve as pathways for various infections to spread inside the body. Especially in procedures related to the brain or the heart, microcatheter-associated infections can become life-threatening very quickly.
• Vulnerability to product recalls: Vulnerability to product recalls is significantly restraining the growth of the global microcatheter market. Microcatheters are precision medical devices used in minimally invasive surgeries and procedures such as angiography and neurovascular interventions. Even a minor design or manufacturing defect can cause serious injuries or health complications for patients. This makes microcatheters highly susceptible to product recalls. In the recent past, there have been several instances of microcatheter recalls due to various issues such as catheter tip detachments, premature rupture or tear of catheter shaft, deviation in catheter dimensions etc. Such recalls often stem from lack of quality control during production or inadequate safety testing of new designs.

Figure 2. Global Microcatheter Market Share (%), By Product Design, 2024

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Global Microcatheter Market- Recent Developments

Product Launch and Approvals  

• On November 30, 2023, Transit Scientific, a U.S.-based medical device company specializing in innovative solutions for vascular procedures, announced the FDA clearance of its microcatheter designed for the precise delivery of a broad range of embolic agents. This milestone marks a significant advancement in microcatheter technology, offering clinicians a differentiating new tool to enhance patient care.
• On March 20, 2023, Merit Medical Systems, Inc., a leading global manufacturer and marketer of healthcare technology, announced the launch of its SwiftNINJA Steerable Microcatheter product line. New sizes include a low-profile 2.4F distal diameter option in 125-cm and new longer 150-cm lengths.
• In April 2022, Transit Scientific announced the FDA clearance of its XO Cross Support Catheter Platform to include coronary use. The platform is indicated to guide and support a guidewire during access of the peripheral or coronary vasculature, allow for wire exchanges, and provide a conduit for delivery of saline solutions or diagnostic contrast agents.

Business Development Activities by the Market Players

• On November 1, 2023, Embolx Inc., a leading provider of minimally invasive medical devices, announced its international distribution partnership with Girlow USA, a renowned global distributor of advanced medical equipment. This collaboration aims to expand availability beyond the U.S. and Europe and improve global access to Embolx's groundbreaking medical technologies, which includes Sniper Balloon Occlusion Microcatheter.
• On January 4, 2023, Verana Health, a digital health company elevating quality in real-world data, and Sight Sciences, Inc., an eye care technology company focused on creating innovative solutions intended to transform care and improve patients' lives, announced a research collaboration designed to provide insights that may lead to improved outcomes for patients with primary open-angle glaucoma (POAG) by using OMNI Surgical System, indicated for canaloplasty (the microcatheterization and viscodilation of Schlemm's canal).

Top Companies in Global Microcatheter Market

• Medtronic Plc
• Terumo Corporation
• Merit Medical System
• Stryker Corporation
• Penumbra Inc.
• Boston Scientific Corporation
• Teleflex Inc.
• Becton Dickinson and Company
• Asahi Intecc Co. ltd.

Definition: A microcatheter is a very small, thin, flexible tube that can be guided through the vasculature to reach small and intricate blood vessels within the body. It is used for diagnostic and interventional procedures, such as angiography, embolization, and drug delivery, in areas that are challenging to reach with standard catheters.