The microcatheters market size in 2021 stood at US$ 913.63 million and is projected to reach US$ 1,758.04 million by 2031 from US$ XX million in 2023. The market is expected to register a CAGR of 5.1% in 2023–2031. The surge in new product approvals, launches, and awareness in field of cardiac microcatheter, and rising demand for minimally invasive procedures are likely to remain key microcatheters market trends.
The escalating prevalence of cardiovascular illness in the global population, as well as the rising incidence of neurovascular disease, are driving market growth. Moreover, the demand for microcatheters has increased significantly due to the prevalence of coronary artery disease, such as angina pectoris and the rising frequency of sudden cardiac death. Furthermore, government financing to improve the healthcare industry is one of the factors driving the microcatheters market.
Microcatheters are thin-walled, small-diameter delivery devices used in minimally invasive surgical procedures to facilitate vein navigation, access, and targeted therapeutic delivery within the body. Interventional radiologists, neurosurgeons, and cardiologists use microcatheters for diagnostic and therapeutic procedures such as embolization, angiography, thrombectomy, and targeted medication delivery. The widespread use of microcatheters has resulted in substantial advances in medical treatments, including more precise and effective therapy delivery and better patient outcomes.
According to the World Health Organization (WHO), cardiovascular diseases are the most prominent cause of morbidity and mortality worldwide. cardiovascular diseases include cerebrovascular disease, coronary heart disease, and rheumatic heart disease. Major lifestyle factors causing cardiovascular diseases and related difficulties are tobacco consumption, unhealthy diet, and physical inactivity, among others. The other risk factors related to cardiovascular diseases are high blood pressure, diabetes, and elevated cholesterol levels. Heart attacks and strokes are mainly caused by fatty deposits that block blood vessels, disrupting blood flow to the heart or brain. According to a report from American Heart Association, in 2020, ~19 million deaths were attributed to cardiovascular diseases globally, which amounted to an increase of 18.7% from 2010. Also, the World Heart Federation predicts more than 23 million cardiovascular diseases -related deaths per year by 2030. Therefore, the high prevalence of cardiovascular diseases is boosting the cardiac microcatheter market.
The Initiative HEARTS in the Americas is led by the Ministries of Health with the participation of local stakeholders and the technical cooperation of the Pan American Health Organization (PAHO). The initiative is being implemented in 22 countries across the region and in more than 1,400 health centers. By 2025, HEARTS will be the model for cardiovascular risk management, including diabetes, hypertension, and dyslipidemia, in primary health care in the Americas.
Key segments that contributed to the derivation of the microcatheters market analysis are indication and end user.
The geographic scope of the microcatheters market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the microcatheters market. The rising prevalence of the cardiovascular diseases, rise in the awareness programs, increasing product launches, and initiatives by the government to control and prevent the prevalence across the region are factors contributing to the dominance of the North America microcatheters market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Microcatheters Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Microcatheters Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 913.63 million |
| Market Size by 2031 | US$ 1,758.04 million |
| Global CAGR (2023 - 2031) | 5.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Indication
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Microcatheters Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Microcatheters Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The microcatheters market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for microcatheters:
The “Microcatheters Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: