Global Microcatheter Market Size and Trends

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 - 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- Recent Developments