Microcatheter Market Size, Share & Trends Analysis Report By Product Design (Single Lumen, Dual Lumen), By Product (Delivery Microcatheters, Aspiration Microcatheters), By Application (Cardiology, Neurology), By Region, And Segment Forecasts, 2024 - 2030

Microcatheter Size & Trends

The global microcatheter market size was estimated at USD 2.09 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.52% from 2024 to 2030. The market is driven by factors such as the increasing prevalence of chronic diseases, aging population, and a favorable healthcare ecosystem. For instance, according to a fact sheet published by WHO in September 2023, it states that around 41 million people die each year due to chronic diseases before the age of 70.

Moreover, an article from UN Chronicle states that the global burden of diseases is expected to increase by 56% by 2030. Chronic diseases such as cardiovascular disease, kidney disease, thrombosis, and cancer require minimally invasive surgery and the usage of microcatheters. Microcatheters in surgery offer various applications, including guidewire support, exchanges, crossing lesions, delivering therapeutic embolics, accessing distal anatomy, injecting contrast media, and performing other endovascular procedures. Useful applications of devices in surgery, the rising incidence of minimally invasive procedures, and technological advancements are expected to boost market growth during the forecasted period.

Technological advancements in market are driven by factors such as enhancing treatment outcomes: Innovations in catheter design, materials, and flexibility improve patient outcomes and extend treatment windows. Increased demand: Technological advancements can enhance the quality and performance of microcatheters, leading to increased adoption. Technological advancements often target offering better care products while increasing demand for minimally invasive procedures. Furthermore, manufacturers are investing in R&D to expand product lines and maintain a market position. For instance, in May 2023, Reflow Medical has received FDA commercial clearance for its coraCatheters built to access and cross complex and challenging lesions in percutaneous coronary interventions.

Advancements in medical technology and imaging, along with the emphasis on patient safety and comfort, have led to the adoption of microcatheters in hospitals, specialty clinics, and surgical centers. Technological advancements, such as real-time imaging and navigation, have improved the success rate of minimally invasive procedures, leading to increased product adoption and stimulating growth.

The rise in healthcare expenditure is attributed to factors such as the growing aging population, increasing prevalence of chronic diseases, and the expansion of the healthcare and computer hardware industries. Medical devices, including microcatheters, are a key driver of rising healthcare expenditure, as they offer advanced diagnostic and therapeutic capabilities that improve patient outcomes. The growing demand for minimally invasive procedures, such as percutaneous coronary intervention (PCI), is also a significant factor driving the market. The favorable healthcare ecosystem, including advanced healthcare infrastructure, increasing awareness, and adoption of minimally invasive procedures, is contributing to market growth.

Market Concentration & Characteristics

The market growth stage is medium, and the pace of the market growth is accelerating. The market is characterized by a high degree of innovation owing to the rapid technological advancements driven by factors such as advancements in tip design, flexibility, and steerable microcatheters, these advancements have modernized healthcare by enabling minimally invasive techniques and improving the safety and efficacy of procedures involving microcatheters.

The market is also characterized by a significant level of merger and acquisition (M&A) activity by the leading players. For instance, in October 2022, Microbot Medical Inc. acquired Nitiloop Ltd. Assets. The acquisition includes the NovaCross family of Microcatheters.

The market is also subject to increasing regulatory scrutiny. Microcatheters are classified as medical devices and are subject to rigorous regulatory scrutiny and approval processes in many countries. Compliance with regulatory requirements, such as obtaining necessary certifications and clearances, can pose challenges and lead to delays in product launches or market entry.

There are a limited number of direct product substitutes for microcatheters. However, there are some product substitutes for microcatheters. For instance, the Micro Rx is a novel device that provides additional guide wire support to cross tortuous anatomy and tight lesions, which can be used as an alternative to OTW single lumen microcatheters. However, microcatheters remain the preferred choice for many minimally invasive procedures due to their advanced technology, specialized materials, and manufacturing processes, which offer improved diagnostic and therapeutic capabilities.

The market is characterized by a notable degree of geographical expansion strategies, with key players employing this approach to broaden their service reach. For instance, in January 2022, VitalPath acquired Modern Catheter Technologies (ModernCath), expanding its capabilities. The addition brings expertise in neurovascular and electrophysiology markets, enhancing catheter manufacturing for diverse medical applications. The market is anticipated to continue its growth trajectory due to ongoing advancements in technology, increased focus on minimally invasive procedures, and a favorable healthcare ecosystem.

Product Design Insights

Based on product design, the dual lumen led the market with the largest revenue share of 64.42% in 2023. This high percentage can be attributed to the several key factors, including easy access to the procedural site and their significant adoption in developing markets. As the global population continues to age, there is a rise in the incidence of age-related medical conditions, such as cardiovascular diseases and neurovascular disorders, further contributing to the preference for dual lumen microcatheters. Therefore, these factors have collectively fueled the dominance of dual lumen microcatheters segment in product design segment of the market.

The single lumen microcatheters segment market held a considerable share in the market due to several factors. The increasing demand for minimally invasive procedures, such as angioplasty and embolization, is driving the growth of the single lumen market. Technological advancements, such as improved flexibility and enhanced tip design, improve the safety and efficacy of procedures involving microcatheters. Therefore, these factors are expected to fuel the market growth and increase its share in the market.

Product Insights

Based on product, the aspiration microcatheters led the market with the largest revenue share of 32.45% in 2023. 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 blocked vessels. Thus, these factors are anticipated to increase the demand for aspiration microcatheters during the forecast period.

The steerable microcatheters segment are anticipated to register the fastest 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.

Application Insights

In terms of application, the cardiology segment dominated the market in 2023 with the largest revenue share of 28.30%, as cardiovascular diseases (CVD) have become the leading cause of death worldwide in the past three decades. According to the WHO it is anticipated that more than 3.6 million people will die from CVD by 2030. Moreover, according to the CDC, in 2021, around 695,000 people in the U.S. died from heart disease, constituting 1 in every 5 deaths. 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 fastest CAGR during the forecast period. According to PAHO, in 2019, neurological conditions resulted in 533,172 deaths, with 40% in men and 60% in women. The age-standardized death rate was 32.9 per 100,000 population, varying between countries. Hypertension, cigarette smoking, and diabetes are the primary risk factors for stroke. Thus, an increasing number of neurological procedures is resulting in increased demand for microcatheters.

Regional Insights

North America dominated the market with the revenue share of 31.97% in 2023, due to the presence of well-established healthcare facilities in region, increasing government initiatives, awareness campaigns regarding chronic disorders, and greater incidence of heart disease and stroke in region. Furthermore, a rise in demand for minimally invasive procedures and the availability of technologically advanced products are contributing to the regional market growth.

In 2023, the U.S. dominated the North America region. the large market share of this country can be attributed to presence of key players such asStryker Corporation and Boston Scientific Corporation and increasing prevalence of chronic diseases such as cardiovascular disorders, neurovascular disorders, and cancer. According to the International Agency of Research on Cancer, the prevalence of cancer in U.S. is estimated to increase from 2.28 million in 2020 to 2.72 million by 2030. This is expected to drive the demand for microcatheters in the country due to their usage in various surgical procedures.

The Asia Pacific is expected to expand at the highest CAGR during the forecast period due to a growing aging population, a rise in 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 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.

China held the largest share in the Asia-Pacific region in 2023. This can be attributed to factors such as rapidly growing healthcare sector, expanding medical infrastructure, and a large patient population.According to Biomedcentral, 40% deaths are associated with cardiovascular disorders in China.Moreover, high prevalence rate of cholesterol, blood pressure, and type 2 diabetes in the country is expected to increase the number of deaths due to cardiovascular diseases by 7.7 million by 2030. Therefore, the high prevalence of cardiovascular diseases is anticipated to boost the demand for products required in cardiac treatments, which, in turn, is expected to drive market growth over the forecast period.

Key Microcatheter Company Insights

Some of the key players operating in the market include Medtronic Plc, Terumo Corporation, Stryker Corporation. These companies invest heavily in R&D to produce innovative products. These companies constantly work on product enhancement to improve safety and performance of their products. Some of the common strategies adopted by these players include partnerships and collaborations, new product launches and approvals.

Penumbra Inc., BioCardia Inc. and Teleflex Inc. are some of the emerging market participants in the market. Emerging players focus on customer acquisition and reducing costs. These players focus on innovation to make their products stand out.

Recent Developments

• In November 2023, Transit Scientific received FDA 510(k) clearance for its XO Cath microcatheter, designed for precise embolic agent delivery during endovascular procedures. The metal-alloy device offers enhanced track ability and torque response for improved treatment outcomes

• In October 2023, Merit Medical Systems, Inc. has expanded its Microcatheter product line. This strategy enhances service availability across diverse geographic areas, ensuring a more extensive market presence

• In May 2023, Reflow Medical, Inc. received FDA clearance for its microcatheters’ product line. The company developed the CoraCatheters product line which includes products like CoraFlex microcatheter, CoraForce microcatheter and CoraCross crossing device

Microcatheter Market Report Scope

Global Microcatheter Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global microcatheter market report based on product design, product, application, and region.

• Product Design Outlook (Revenue, USD Million, 2018 - 2030)

  • Single Lumen 

  • Dual Lumen

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Delivery Microcatheters

  • Aspiration Microcatheters

  • Diagnostic Microcatheters

  • Steerable Microcatheters

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Cardiology

  • Neurology

  • Peripheral Vascular

  • Oncology

  • Urology

  • Otolaryngology

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait