Microcatheter Market Size, Share & Trends Analysis Report By Product Design (Single Lumen, Dual Lumen), By Product (Aspiration, Delivery, Diagnostic, Steerable), By Application, And Segment Forecasts, 2020 - 2027

Report Overview

The global microcatheter market size was valued at USD 1.77 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027. Increasing chronic disorders such as cardiovascular disorders, neurovascular disorders, and cancer as well as rising adoption of minimally invasive procedures are the major factors expected to drive the market.

In addition, the adoption of technologically advanced products and various government initiatives are contributing to the growth of the market. Microcatheters are small, hollow tubes that are inserted into blood vessels and used in various interventional procedures. These are intended to deliver various interventional devices to the blood vessels and are used in numerous diagnostic and therapeutic procedures.

The most commonly used microcatheter are arterial microcatheter, urinary microcatheter, neurovascular microcatheter, and peripheral microcatheter. Microcatheters help to reach the most complex network of veins. Thus, the rising adoption of minimally invasive procedures, coupled with growing technological advancement, is anticipated to boost the market growth in the forecast period. The rising prevalence of chronic disorders due to the adoption of an unhealthy lifestyle is propelling the market growth. Hypertension, cigarette smoking, and obesity are the primary risk factors for conditions, such as heart disease, cancer, and neurovascular strokes. According to the World Health Organization (WHO), 41 million people die every year due to chronic disorders, which account for 71% of all deaths worldwide. Most chronic disease deaths are due to cardiovascular diseases, which account for 17.9 million people annually, followed by neurovascular disorders, mostly strokes (7.0 million). Thus, an increasing number of patients suffering from cardiovascular and neurovascular disorders is majorly driving the market.

Furthermore, an increasing number of initiatives and programs being undertaken by governments of various countries is expected to fuel the market growth. For instance, in 2016, the WHO launched a new initiative “Global Hearts” to fight against heart attacks and strokes. Similarly, the Cancer Prevention and Control Research Network (CPCRN) is a national program for preventing and controlling the burden of cancer around the globe. This initiative is funded by the CDC’s Division of Cancer Prevention in conjugation with the Control and the National Cancer Institute, which focuses on reducing the problem of cancer, specifically in underserved populations. It works with national, state, and local partners to reduce cancer risk, and deaths and improve screening. In addition, The Bee Foundation (TBF) is a non-profit organization focused on spreading awareness and reducing the number of deaths due to cerebrovascular stroke through innovative research. Growing awareness among people regarding the treatment and initiatives taken by the government to prevent the rate of associated disorders is likely to boost the microcatheter market growth.

Countries such as the U.S. and Canada have witnessed a high prevalence of chronic disorders in recent years. As per the American Heart Association's "Heart Disease and Stroke Statistics 2019”, 121.5 million adults in the U.S. are living with cardiovascular disease, and every year 805,000 Americans suffer from a heart attack. Additionally, according to the CDC, about 795,000 people in the U.S. suffer from cerebrovascular stroke every year. Furthermore, according to the Stroke Report 2017, there were about 400,000 individuals in Canada living with long-term disability from stroke, and this number is expected to double in the next 20 years. Therefore, such a high prevalence rate of chronic disorders is anticipated to boost the market growth over the forecast period.

Additionally, the increasing incidence of chronic disorders in developed and developing countries has driven the launch of technologically advanced products in the market. For instance, SwiftNINJA by Merit Medical is the first U.S. FDA-approved Steerable Microcatheter that offers an alternative approach to standard microcatheters during complex vessel anatomy. It allows physicians to change the shape and angle of its tip while the device is inside the patient. Moreover, arterial microcatheter, urinary microcatheter, neurovascular microcatheter, and peripheral microcatheters are some of the notable treatment modalities used for treating strokes, aneurysms, and urological disorders. Market players are making constant efforts for introducing technologically advanced products in the market.

Product Design Insights

Based on product design, the market is categorized into a single lumen and dual-lumen microcatheter. The dual lumen microcatheter segment dominated the overall market with a share of 64.04% in 2019 and is anticipated to witness the fastest growth over the forecast period. A dual lumen microcatheter offers advantages such as easy access to the procedural site. Moreover, more than one analgesic or drug infusion can be administered at the same time instead of multiple perfusions. Furthermore, it acts like two microcatheter and is widely preferred for interventional cardiology procedures. Thus, the benefits offered by dual-lumen microcatheter are expected to fuel the segment growth.

The dual lumen microcatheter has observed an increased rate of adoption in developing markets due to the increasing prevalence rate of chronic disorders, mainly cardiovascular and neurovascular disorders. For instance, as per an article published in the American Heart Association (AHA) journal in 2018, stroke was one of the leading causes of death in China in recent years. Similarly, as per the report published by The Lancet in 2018, in India, the prevalence rate of stroke and heart disease has witnessed an upsurge by over 50% from 1990 to 2016. Since patients with chronic illness require long-term intravenous therapy, more than one central venous access is needed. Thus, these factors are anticipated to increase the demand for dual-lumen microcatheter during the forecast period.

Application Insights

Based on application, the market is segmented into cardiology, neurology, peripheral vascular, oncology, urology, otolaryngology, and others. The cardiology segment dominated the overall market with a share of 29.63% in 2019 as cardiovascular diseases (CVD) have become the leading cause of death worldwide in the past three decades. According to the WHO, in 2016, 17.9 million deaths occur every year worldwide. Moreover, it is anticipated that more than 3.6 million people will die from CVD by 2030. A sedentary lifestyle such as lack of physical activity, obesity, smoking, drinking, and high blood pressure is one of the major causes leading to CVDs. Thus, the increasing incidence of cardiovascular diseases is expected to boost the segment growth in the coming years.

The neurovascular segment is expected to witness the highest growth during the forecast period. As per the estimation of the WHO, in 2016, cerebrovascular stroke is the second most common cause of death and the third most common cause of disability around the world and approximately 60-80% of all strokes is ischemic. Hypertension, cigarette smoking, and diabetes are the primary risk factors for stroke. Thus, an increasing number of neurological procedures is resulting in the increased demand for microcatheters.

Product Insights

On the basis of product, the market is segmented into delivery microcatheter, aspiration microcatheter, diagnostic microcatheter, and steerable microcatheter. Aspiration microcatheter dominated the overall market with a share of 33.43% in 2019. Increasing demand for the treatment of acute strokes, aneurysms, and peripheral artery diseases is one of the major factors driving this segment. These catheters also offer quick recanalization, total cessation of blood flow, and prevention of distal embolism during interventional procedures. In addition, it is widely utilized for the removal of thrombus or debris from the blocked vessels. Thus, these factors are anticipated to increase the demand for aspiration microcatheters during the forecast period.

Steerable microcatheter is expected to expand at the highest CAGR during the forecast period. This microcatheter offers an alternative approach to standard microcatheters. Conventional microcatheters have fixed shapes, which cannot be changed and are used in combination with a guidewire during complex vessel anatomy. Whereas, a steerable microcatheter leads to simpler and quicker target vessel selection with shorter procedure times. In addition, the shape and angle of its tip can be changed while the device is inside a patient using a dial in the handgrip of the device. Thus, the increasing application of steerable microcatheters for the treatment of various peripheral and vascular disorders is a major factor expected to fuel market growth.

Regional Insights

North America dominated the market with a share of 32.93% in 2019 due to the presence of well-established healthcare facilities in the region, increasing government initiatives, awareness campaigns regarding chronic disorders, and greater incidence of heart disease and stroke in the region. Furthermore, a rise in the demand for minimally invasive procedures and the availability of technologically advanced products are contributing to the regional market growth.

Asia Pacific is expected to expand at the highest CAGR during the forecast period due to a growing aging population, a rise in the number of people suffering from stress in countries, such as Japan, an increasing incidence of chronic disorders, a large population base, improving quality of diagnosis, and growing patient affordability. These factors have together resulted in a significant number of interventional procedures in the Asia Pacific. Moreover, the presence of high growth opportunities in developing countries, such as Japan, India, and China, is likely to contribute to market growth in this region.

Key Companies & Market Share Insights

Key market players are focusing on the launch of innovative medical devices, technological advancements, and growth strategies. For instance, in April 2019, Medtronic launched Phenom 21 Microcatheter for the delivery of all sizes of vasculature devices. This device eliminates blood clots from obstructed vessels to restore blood flow in patients with large vessel occlusion. Such advancements are anticipated to boost the market growth over the forecast period. Some of the prominent players in the microcatheter market include:

• Medtronic Plc

• Terumo Corporation

• Merit Medical System

• Stryker Corporation

• Penumbra Inc.

• Boston Scientific Corporation

• Teleflex Inc.

Microcatheter Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global microcatheter market report on the basis of product design, product, application, and region:

• Product Design Outlook (Revenue, USD Million, 2016 - 2027)

  • Single Lumen Microcatheter

  • Dual Lumen Microcatheter

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Delivery Microcatheter

  • Aspiration Microcatheter

  • Diagnostic Microcatheter

  • Steerable Microcatheter

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Cardiology

  • Neurology

  • Peripheral Vascular

  • Oncology

  • Urology

  • Otolaryngology

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE