Market Trends of Microcatheters Industry
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.
