Microcatheters Market

Market Overview

The global microcatheters market size was valued at USD 2,073.21 million in 2022. It is estimated to reach USD 2,850.23 million by 2031, growing at a CAGR of 3.6% during the forecast period (2023–2031).

A microcatheter is a small-diameter catheter to deliver devices during minimally invasive operations. Its small size makes it ideal for negotiating the complex capillaries of the human body. Microcatheters, with a 0.70-1.30 mm diameter, are used during complex endovascular procedures to reach distal anatomy, traverse lesions, deliver therapeutic emboli, inject contrast medium, and carry out other procedures.

According to a study published in the Journal of Geriatric Cardiology in January 2019, steerable microcatheters have been employed in cardiac applications, including balloon distribution, to enhance vascular flow in elderly patients. They can be used to implant and remove guidewires and other interventional instruments for diagnostic and therapeutic purposes. Most microcatheters have an inbuilt steerable or angled tip for improved delivery and penetration and a lubricious coating. While a coil pitch promotes flexibility and proximal pushability, the hydrophilic coating can facilitate navigation through complicated vasculatures.

Highlights

• Dual-lumen microcatheter dominate theproduct design segment
• Aspiration microcatheter dominates theproduct segment
• Cardiology dominates the application segment
• North America is the highest shareholder in the global market

Market Dynamics

Market Drivers

Rising Patient Pool Suffering from Chronic Diseases

The surging incidence of chronic illnesses such as neurovascular, cardiovascular, and urological disorders propels the market growth. A sizable portion of the population is at risk of developing chronic disorders due to rising blood pressure, obesity, and smoking. According to the World Health Organization (WHO), in 2018, 41 million people died yearly due to chronic disorders, accounting for 71% of all deaths worldwide. In addition, approximately 17.9 million people die annually owing to cardiovascular diseases, 9.6 million to cancer, and 6 million to stroke. Therefore, growing cases of chronic diseases such as neurovascular disorders, cardiovascular disease, and cancer are expected to increase the adoption of microcatheters, which is anticipated to drive market growth.

Increasing Number of Minimally Invasive Procedures

Nowadays, diagnosis, as well as treatment of neurological and cardiovascular disorders, mostly includes minimally invasive procedures that require the use of microcatheters to clear out blocked arteries or veins. Vascular and peripheral angioplasty using microcatheter has gained significant popularity among patients in the last decade. For instance, per the study of NCBI 2019, in the U.S., more than 1 million cardiac catheterization procedures (diagnostic and therapeutic) are performed yearly.

Moreover, minimally invasive techniques are preferred for most endovascular surgery. Microcatheters and other advanced techniques are preferred for treating aneurysms, strokes, and other blood vessel conditions in the brain. Due to minimal invasion characteristics, the application of microcatheter is increasing in oncology and urological procedures. These approaches are being used more frequently and are evolving into general surgery standard practices. Thus, the growing adoption of minimally invasive surgeries is expected to boost the microcatheter market growth.

Market Restraints

Risks and Complications Associated with Microcatheters

Cardiac catheterization, or angiography procedures, have gradually increased over the last two decades. But sometimes, during such procedures, patients are at a high risk of catheter-acquired bacterial infections, possibly due to the repetitive use of microcatheters. Numerous sources may introduce bacteria to the access site, a remote location, or the bloodstream. Localized infection can occur at any site of vascular injury, such as the access site or in an implanted device.

As per a research article published in NCBI in 2018, some major risks associated with cardiac catheterization are retroperitoneal bleeding, thrombosis and embolism, myocardial infarction, pseudoaneurysm, arteriovenous fistula, and allergic reactions. Similarly, catheter-acquired urinary tract infection (UTI) is one of the most commonly developed bloodstream infections and can lead to numerous medical complications. Therefore, risks and complications associated with microcatheters may impede market growth in the coming years.

Market Opportunities

Increasing Awareness Among the Population Related to Chronic Conditions Disorders

Globally, governments of various countries have launched several initiatives and programs to improve public awareness and treatment related to chronic disorders. For example, in 2016, WHO introduced a new program called "Global Hearts" to combat heart attacks and strokes. Currently, the incidence rate of chronic disease in developing nations such as India and China is much higher than the Western countries. To deal with such conditions, the government is launching several awareness programs; for instance, in 2010, the Indian Government introduced the National Program for the "Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases, and Stroke" (NPCDCS). This policy includes developing public awareness and improving transportation facilities for various non-communicable diseases.

Similarly, according to National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), in 2018, 6 out of 10 adults in the U.S. were living with chronic disease. The U.S. government has implemented a smoking cessation policy, which indirectly aims to counter stroke incidence. In addition, favorable government initiatives such as those undertaken by the Department of Health and Human Services in the U.S. to control the incidence of stroke by 2017 are further anticipated to provide growth opportunities to the market.

Regional Analysis

Based on region, the global microcatheter market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global microcatheter market shareholder and is estimated to exhibit a CAGR of 2.9% during the forecast period. The expansion of the North American region can be attributed to the presence of significant manufacturers in this region, the increase in the prevalence of chronic disorders, and the rise in government initiatives. According to the Centers for Medicare and Medicaid Services (CMS), the national health spending of the country is expected to grow at 5.5% every year from 2018 to 2027. It is estimated to reach USD 6 trillion by 2027. Moreover, rapid technological advancements and the presence of major medical equipment companies, such as Boston Scientific Corporation, Merit Medical Systems, and Stryker Corporation, offering microcatheters in this region are also among the factors contributing to the market development in this continent.

Furthermore, the growing prevalence of heart diseases and strokes and the rising preference for minimally invasive surgeries are among the key factors driving the regional growth of microcatheters. According to the Centers for Disease Control and Prevention (CDC), in the U.S., heart disease is the leading cause of death, and it accounts for 647,000 deaths each year. Therefore, North America will dominate the overall regional market over the forecast period.

Europe is estimated to exhibit a CAGR of 3.4% over the forecast period. Europe is amongst the most advanced regions globally, with advanced technologies and infrastructure resulting in significant healthcare facilities and patient care. The increasing incidence of heart attacks, ischemic stroke, rising adoption of a sedentary lifestyle, and introduction of technologically advanced products in the European market can be attributed to the growth of the microcatheter market. Furthermore, a rise in government and private institution investments is anticipated to fuel the market. However, the lack of supportive reimbursement policies in developing countries of Europe will likely hinder market growth over the forecast period.

The Asia-Pacific microcatheter market is anticipated to exhibit lucrative growth during the forecast period. A large patient base and unmet needs concerning minimally invasive techniques are expected to present significant growth opportunities for the microcatheter market in this region. Moreover, rising preference for clinical trials and high R&D investments by global market players owing to their low-cost structure is also high-impact rendering drivers of the market in this region. Rising awareness about chronic disease treatment and improvements in the clinical development framework of developing economies is also expected to expedite market growth in this region.

In Latin America, increasing healthcare expenditure and rising penetration of health insurance provides ample growth opportunities to the participants operating in the global market. For instance, as per the World Health Organization (WHO) 2016, Brazil's healthcare expenditure as a proportion of GDP was 8.5%, Argentina's for 4.2%, Mexico's for 6.5%, and Chile's spending was 8.3%. However, the lack of adequate skilled professionals & knowledge regarding the proper treatment of heart-related disorders and strokes in countries such as Mexico, Colombia, and Argentina is likely to impede the market growth in Latin America.

In the Middle East and Africa, healthcare infrastructure is well established, and government organizations cover almost 70% of the healthcare expenditure of the residents. High-income countries like Saudi Arabia, Israel, and Qatar attempt to involve the latest technological devices in their healthcare infrastructure. Saudi Arabia is the most populous country in the region, with the fastest growth rate. Increasing healthcare expenditure and adopting technologically advanced products in these countries are expected to promote market growth. The increasing incidence of heart disease and stroke in Saudi Arabia, South Africa, and the UAE is also expected to propel the market growth.

Segmental Analysis

The global microcatheters market is segmented by product design, product, and application.

Based on the product design, the global microcatheter market is bifurcated into single-lumen and dual-lumen microcatheters. 

The dual-lumen microcatheter segment dominates the global market and is projected to exhibit a CAGR of 3.7% over the forecast period. Dual lumen microcatheters have two internal channels (lumen) of varied sizes and shapes. These are frequently used for Percutaneous Transluminal Coronary Angioplasty (PTCA) catheters. The dual-lumen microcatheters are characterized by a monorail lumen and the wire (OTW) lumen that runs to the tip of the catheter. They allow the surgeon to deliver a second wire through the OTW lumen. It can make guidewire exchange easier and act like two microcatheters, improving its operability. In addition, dual-lumen microcatheters are widely preferred and mostly utilized for interventional cardiology procedures. Since dual-lumen microcatheter has numerous advantages over single-lumen-designed microcatheters and can serve multiple purposes, thus they have high demand.

A catheter is called a single-lumen microcatheter if it has just one hole in the middle. Single-lumen microcatheters deliver fluids, drugs, or surgical devices during an interventional procedure. It also gives support to the guidewire and improves handling. These are used for a wide variety of therapeutic applications, such as intravenous lines and drainage or urological catheters. For instance, Integer Holdings Corporation designs and develops various single-lumen Coronary CTO Microcatheters utilized during percutaneous transluminal coronary angioplasty. Moreover, rapid growth in the number of hospitalizations coupled with a high adoption rate of single lumen microcatheter for emergencies is expected to boost the growth of this market in the forecast years.

Based on the product, the global microcatheter market is bifurcated into delivery microcatheter, aspiration microcatheter, diagnostic microcatheter, and steerable microcatheter. 

The aspiration microcatheter segment dominates the global market and is expected to grow at a CAGR of 3.01% over the forecast period. Aspiration catheters are indicated for removing thrombus or detritus from vessels or arteries that have become obstructed. These catheters also provide rapid recanalization, complete blood flow cessation, and protection against distal embolism. An aspiration microcatheter is majorly used to remove debris and thrombus in the peripheral or coronary arteries through percutaneous suction. Therefore, increasing demand for aspiration catheters in the treatment of stroke, aneurysms, and peripheral artery disease is expected to boost the market growth of microcatheters during the forecast period.

Delivery microcatheters are intended to deliver various vascular and peripheral devices to the blocked blood vessel site and are used in numerous diagnostic and therapeutic interventional procedures. For instance, they are indicated to help deliver therapeutic devices, such as catheters, occlusion coils, stents, and diagnostic agents, such as contrast media, to the neuro and peripheral vasculature. These catheters provide access to procedural sites for guidewire, catheter, stent, and fluid delivery and placement. They are designed with several properties, such as softness, trackability, hydrophilic coating, and stability. Therefore, increasing the application of delivery microcatheters for treating various peripheral and vascular disorders is a major factor driving this segment.

Based on application, the global microcatheter market is segmented into cardiology, neurology, peripheral vascular, oncology, urology, otolaryngology, and others. 

The cardiology segment owns the highest market share and is estimated to exhibit a CAGR of 2.6% during the forecast period. Cardiovascular diseases (CVD) have become the most significant reason of death worldwide in the past three decades. According to WHO, 17.9 million people died from CVDs worldwide in 2016, the leading cause of death yearly. Cardiac catheterization is done to evaluate heart disease and condition. In this treatment, a microcatheter is threaded through blood vessels to the heart from an artery or vein. Microcatheters are also used during heart disease therapies like coronary angioplasty and stenting. Hence, segment growth in the next years is anticipated to be boosted by the rising incidence of cardiovascular disorders.

Otolaryngology is a branch of medical science that deals with the study and treatment of the ears, nose, and throat. A microcatheter is necessary to diagnose and treat several disorders, such as chronic sinusitis or airway stenosis, which can be handled minimally invasively. It is also utilized to treat wide-neck ruptured or unruptured intracranial aneurysms. Therefore, increasing application of microcatheter in the Otolaryngology field is expected to enhance the market growth in the coming years.

Recent Developments

• April 2023- Surmodics, Inc., a prominent supplier of medical devices and in vitro diagnostic technologies for the healthcare industry, announced that Drs. Ankur Lodha and Pradeep Nair of Louisiana are the first physicians to successfully use the company's SublimeTM radial access microcatheter. The Sublime portfolio will include the first high-performance peripheral microcatheters measuring 0.014", 0.018", and 0.035" in diameter.
• May 2023- Reflow Medical, Inc. announced that its coraCathetersTM, a full line of cutting-edge microcatheters designed to access and cross complicated and tough lesions in percutaneous coronary procedures, has been given FDA commercial clearance.