Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global microcatheter market size is expected to reach USD 2.85 billion by 2030, registering a CAGR of 4.52% from 2024 to 2030. Growing prevalence of chronic disorders and increasing demand for minimally invasive procedures are driving the market.
An increase in the incidence of chronic disorders in several countries is anticipated to impact the market growth over the forecast period. For instance, as per the facts published by WHO in 2018, every year 41 million deaths (71%) are reported due to chronic disorders and it is the leading cause of mortality and disability globally. Thus, increasing number of patients suffering from chronic disorders is significantly driving the market.
In addition, technological advancements in the treatment of heart diseases and strokes are expediting overall market growth. For instance, development of steerable microcatheters, which offer an alternative approach to traditional microcatheters and can articulate up to 180 degrees in opposing directions, has fueled the market growth.
Furthermore, increasing awareness about chronic conditions such as heart disease and strokes has resulted in the early diagnosis and treatment of disease. Globally, several initiatives have been introduced by the governments of various nations to improve public awareness. For instance, WHO has launched the "Global action plan for the prevention and control of NCDs 2013 - 2020" nationwide for the prevention and management of chronic disorders.
Key Market Dynamics
Market drivers
- Rising Patient Pool Suffering from Chronic Diseases Such as Cardiovascular Diseases, Neurovascular Disorders and Cancer
- Increasing Number of Minimally Invasive Procedures
- Increasing Awareness Among the Population Related to Chronic Conditions Disorders
Market restraints
- Risks and Complications Associated with Microcatheters
- Complex Regulatory Framework Related to Product Development and Manufacturing
Microcatheters Market Report Highlights
- By product design, the dual lumen led the market with the largest revenue share of 64.42% in 2023 and is expected to witness the highest growth during the forecast period as it is widely used for interventional cardiology procedures and it acts like a two microcatheter at a time
- Based on product the aspiration microcatheters led the market with the largest revenue share of 32.45% in 2023 owing to its increasing adoption in the minimally invasive surgeries and it is widely utilized for the removal of thrombus from the blocked vessels
- On the basis of application, the cardiology segment dominated the market in 2023 with the largest revenue share of 28.30% owing to increasing number of cardiovascular disorders globally. In addition, benefits offered by the microcatheters during critical cardiac surgeries is the major factor fueling the segment growth
- North America dominated the market with the revenue share of 31.97% in 2023 owing to greater incidence rate of stroke and cancer and increasing government initiatives.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 171 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $2.09 Billion |
| Forecasted Market Value (USD) by 2030 | $2.85 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Microcatheters Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.3. Microcatheters Market Analysis Tools
Chapter 4. Microcatheters Market: Product Design Estimates & Trend Analysis
4.1. Product Design Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Global Microcatheters Market by Product Design Outlook
4.4. Market Application & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4.1. Single Lumen
4.4.2. Dual Lumen
Chapter 5. Microcatheters Market: Product Estimates & Trend Analysis
5.1. Product Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. Global Microcatheters Market by Product Outlook
5.4. Market Application & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4.1. Delivery Microcatheters
5.4.2. Aspiration Microcatheters
5.4.3. Diagnostic Microcatheters
5.4.4. Steerable Microcatheters
Chapter 6. Microcatheters Market: Application Estimates & Trend Analysis
6.1. Application Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. Global Microcatheters Market by Application Outlook
6.4. Market Application & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.4.1. Cardiology
6.4.2. Neurology
6.4.3. Peripheral Vascular
6.4.4. Oncology
6.4.5. Urology
6.4.6. Otolaryngology
6.4.7. Others
Chapter 7. Microcatheters Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2024 & 2030
7.2. Regional Market Dashboard
7.3. Global Regional Market Snapshot
7.4. Market Application, & Forecasts Trend Analysis, 2018 to 2030
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
- Medtronic
- Terumo
- Merit Medical System
- Stryker
- Penumbra
- Boston Scientific
- Teleflex
- Asahi Intecc USA
- Surmodics
- BioCardia
For more information about this report visit https://www.researchandmarkets.com/r/qjre9n
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