Microcatheters Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 1.68 Billion |
| Market Size (2029) | USD 2.06 Billion |
| CAGR (2024 - 2029) | 4.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Microcatheters Market Analysis
The Microcatheters Market size is estimated at USD 1.68 billion in 2024, and is expected to reach USD 2.06 billion by 2029, growing at a CAGR of 4.10% during the forecast period (2024-2029).
Growing cases of chronic diseases, government support, a rising aging population, and rising minimally invasive procedures are the major factors boosting the growth of the microcatheters market.
The rising incidence of chronic diseases such as cardiovascular diseases, neurovascular disorders, and cancer is driving the market demand. These conditions often require minimally invasive interventions, where microcatheters play a critical role. As the patients prioritized minimizing hospital stays and infection risks, minimally invasive procedures utilizing crucial microcatheter instruments for angiography, embolization, and neuro interventions witnessed a significant boost in the market studied. For instance, according to the data published by Eurostat in October 2023, 1.1 million transluminal coronary angioplasty procedures were performed in 2022 across 23 European countries. Such a high number of procedures creates demand for the products and thus drives the growth of the market.
In addition, as the world’s population ages, the number of individuals with age-related chronic conditions requiring minimally invasive procedures increases. For instance, in July 2022, the Department of Economic and Social Affairs stated that the world’s geriatric population is expected to rise from 10% in 2022 to 16% in 2050.
By continuously developing and launching new technologies, manufacturers contribute to improving patient care and expanding the global market. The launch of new microcatheters by manufacturers plays an important role in driving the market. For instance, in March 2023, Merit Medical Systems expanded SwiftNINJA's steerable microcatheter product line with a new size, i.e., a low profile 2.4 F distal diameter option in 125 cm and a longer 150 cm lens.
The incidence of stroke affects millions annually, and microcatheters play a crucial role in treating it. For instance, in May 2023, according to the data published by the Centers for Disease Control and Prevention (CDC), nearly 87% of cases reported were ischemic strokes caused by blocked blood flow to the brain. Also, the National Board of Health and Welfare of Sweden, in November 2022, stated that around 26,800 strokes occurred in individuals in 2022. Aging often leads to changes in the vascular systems, including increased tortuosity and calcification of arteries. Microcatheters, with a small size and flexible design, offer high mobility and access to these challenging body structures.
With the growing cases of strokes, manufacturers are launching new technologies, and the rising geriatric population is expected to drive the growth of the microcatheters market. However, the high cost of development and manufacturing of microcatheters may hinder the growth of the market.
Microcatheters Market Trends
The Delivery Microcatheters Segment is Expected to Witness Significant Growth Over the Forecast Period
Small and flexible delivery microcatheters fit through tiny cuts or natural openings, making them easier for doctors to control and less likely to harm healthy tissue. Compared to larger devices, they are also less likely to damage surrounding tissues. This technique minimizes damage to healthy tissues and leads to better patient outcomes.
Due to the growing burden of cardiovascular diseases, manufacturers are taking initiatives to launch this product in the market. This may expand the growth of the segment during the forecast period.
Delivery microcatheters hold a significant share of the market through their adaptability, advantages in minimally invasive procedures, and continuous advancements. Manufacturers are constantly innovating by introducing delivery microcatheters with improved steerability, compatibility with advanced imaging systems, and enhanced tissue compatibility. For instance, in March 2022, Guerbet expanded its line of microcatheters and guidewires for enhanced interventional imaging and embolization.
The strategic initiatives taken by market players, such as collaboration across different geographies for the distribution of products, are also expected to contribute to the adoption and accessibility of products, hence driving the growth of the market segment. For instance, in November 2023, Embolx Inc. and Girlow USA joined forces to establish the distribution network for innovative microcatheters in South America. Microcrater placement in a curved vessel depends on the navigation route in both experiments and clinical settings. For instance, an article published by the Asian Congress of Neurological Surgeons in November 2023 stated that the delivery of microcatheters is considered extremely important for safe and reliable coil embolization to realize the positional relationship of the catheters during the cardiovascular procedure.
Therefore, the delivery microcatheters segment is expected to witness significant growth over the forecast period due to factors such as rising minimally invasive procedures and manufacturers focusing on advancements.
North America is Expected to Dominate the Microcatheters Market Over the Forecast Period
North America is expected to hold a prominent share in the market owing to factors such as the aging population and improved cancer detection rates contributing to the increasing number of cancer cases, as well as increasing cases of coronary heart disease. For instance, according to the statistics by the Centers for Disease Control and Prevention, published in November 2023, about 4.9% of people in the United States were diagnosed with coronary heart disease in 2022. Also, the rising aging population and increased public awareness about the diagnosis of coronary heart disease fuels the growth of the market. For instance, according to the Population Reference Bureau (PRB), updated in January 2024, the number of Americans aged 65 and older is expected to increase dramatically from 58 million in 2022 to a staggering 82 million by 2050. Furthermore, the 65-and-older age group's share of the total population is projected to rise from 17% to 23% during this period. Thus, the rising geriatric population in the country may further boost the market during the forecast period.
Manufacturers are focusing on receiving approval from the FDA and launching the products in the market. For instance, in May 2023, Reflow Medical Inc. received FDA approval for its innovative Coracatheters, designed for patients with complex coronary artery disease. This microcatheter has a special tip that helps doctors reach and treat areas in the body that are difficult to access, and it also helps them move a thin wire (guidewire) through the body more easily.
Heart-related diseases are a major concern for Canadians. Minimally invasive procedures using microcatheters are increasingly preferred for treating coronary artery disease and other vascular diseases. For instance, data published by the Canadian Institute for Health Information in July 2022 shows that heart disease affected 2.4 million Canadians in 2022. The high number of people facing heart disease presents an opportunity for players to sell microcatheters in minimally invasive heart procedures, further boosting the market expansion during the forecast period.
Therefore, owing to the aforementioned factors, such as the aging population, increasing cases of coronary heart disease, and new product launches by manufacturers, the market studied is anticipated to flourish in North America.
Microcatheters Industry Overview
The microcatheters market is moderately consolidated due to the presence of several companies operating globally and regionally. Market players are majorly focused on regulatory approval in particular countries and product launches to expand their presence in the global market. Some of the key players in the market include Medtronic, Stryker, Boston Scientific Corporation, Terumo Medical Corporation, Teleflex Incorporated, and Merit Medical Systems Inc.
Microcatheters Market Leaders
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Medtronic
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Stryker
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Boston Scientific Corporation
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Terumo Medical Corporation
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Teleflex Incorporated
*Disclaimer: Major Players sorted in no particular order
Microcatheters Market News
- November 2023: Transit Scientific received FDA approval for its microcatheter to deliver diverse embolic agents precisely and help healthcare professionals improve patient care with better tools.
- October 2023: Merit Medical Systems expanded its Maestro microcatheter product line. The Maestro product line offers embolotherapy devices with Embosphere microspheres. These 165 cm microcatheters come in various diameters, such as 2.1 F, 2.4 F, 2.8 F, and 2.9 F, to support a wider range of embolization procedures.
Microcatheters Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Incidence of Chronic Diseases
- 4.2.2 Increasing Geriatric Population
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4.3 Market Restraints
- 4.3.1 High Cost of Development and Manufacturing of Microcatheters
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product
- 5.1.1 Delivery Microcatheters
- 5.1.2 Diagnostic Microcatheters
- 5.1.3 Aspiration Microcatheters
- 5.1.4 Steerable Microcatheters
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5.2 By Design
- 5.2.1 Single Lumen Microcatheters
- 5.2.2 Dual Lumen Microcatheters
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5.3 By Application
- 5.3.1 Cardiovascular
- 5.3.2 Neurovascular
- 5.3.3 Peripheral Vascular
- 5.3.4 Urology
- 5.3.5 Otolaryngology
- 5.3.6 Other Applications
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5.4 By End User
- 5.4.1 Hospitals
- 5.4.2 Clinics
- 5.4.3 Ambulatory Surgery Centers
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5.5 Geography
- 5.5.1 North America
- 5.5.1.1 United States
- 5.5.1.2 Canada
- 5.5.1.3 Mexico
- 5.5.2 Europe
- 5.5.2.1 Germany
- 5.5.2.2 United Kingdom
- 5.5.2.3 France
- 5.5.2.4 Italy
- 5.5.2.5 Spain
- 5.5.2.6 Rest of Europe
- 5.5.3 Asia-Pacific
- 5.5.3.1 China
- 5.5.3.2 Japan
- 5.5.3.3 India
- 5.5.3.4 Australia
- 5.5.3.5 South Korea
- 5.5.3.6 Rest of Asia-Pacific
- 5.5.4 Middle East and Africa
- 5.5.4.1 GCC
- 5.5.4.2 South Africa
- 5.5.4.3 Rest of Middle East and Africa
- 5.5.5 South America
- 5.5.5.1 Brazil
- 5.5.5.2 Argentina
- 5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Medtronic PLC
- 6.1.2 Stryker Corporation
- 6.1.3 Boston Scientific Corporation
- 6.1.4 Terumo Corporation
- 6.1.5 Cardinal Health Inc.
- 6.1.6 Becton Dickison and Company
- 6.1.7 Teleflex Corporation
- 6.1.8 Merit Medical Systems Inc.
- 6.1.9 Reflow Medical Inc
- 6.1.10 Asahi Intecc Co. Ltd
- 6.1.11 Cook Group Incorporated
- 6.1.12 B. Braun Melsungen AG
- 6.1.13 Koninklijke Philips NV
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityMicrocatheters Industry Segmentation
Microcatheters are long, extremely thin tubes used in minimally invasive procedures to access and navigate through narrow blood vessels or other delicate areas within the body. They are thin, flexible, steerable, and multifunctional.
The microcatheters market is segmented by product, design, application, end user, and geography. By product, the market is segmented into delivery microcatheters, diagnostic microcatheters, aspiration microcatheters, and steerable microcatheters. By design, the market is segmented into single-lumen microcatheters and dual-lumen microcatheters. By application, the market is segmented into cardiovascular, neurology, oncology, otolaryngology, and other applications. By end user, the market is segmented into hospitals, clinics, and ambulatory surgical centers. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers market size and forecast in terms of value (USD) for the above segments.
| By Product | Delivery Microcatheters | |
| Diagnostic Microcatheters | ||
| Aspiration Microcatheters | ||
| Steerable Microcatheters | ||
| By Design | Single Lumen Microcatheters | |
| Dual Lumen Microcatheters | ||
| By Application | Cardiovascular | |
| Neurovascular | ||
| Peripheral Vascular | ||
| Urology | ||
| Otolaryngology | ||
| Other Applications | ||
| By End User | Hospitals | |
| Clinics | ||
| Ambulatory Surgery Centers | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Microcatheters Market Research FAQs
How big is the Microcatheters Market?
The Microcatheters Market size is expected to reach USD 1.68 billion in 2024 and grow at a CAGR of 4.10% to reach USD 2.06 billion by 2029.
What is the current Microcatheters Market size?
In 2024, the Microcatheters Market size is expected to reach USD 1.68 billion.
Who are the key players in Microcatheters Market?
Medtronic, Stryker, Boston Scientific Corporation, Terumo Medical Corporation and Teleflex Incorporated are the major companies operating in the Microcatheters Market.
Which is the fastest growing region in Microcatheters Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Microcatheters Market?
In 2024, the North America accounts for the largest market share in Microcatheters Market.
What years does this Microcatheters Market cover, and what was the market size in 2023?
In 2023, the Microcatheters Market size was estimated at USD 1.61 billion. The report covers the Microcatheters Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Microcatheters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Microcatheters Industry Report
Statistics for the 2024 Microcatheters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Microcatheters analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
