According to our new research study on “Microcatheters Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Indication and End User,” the microcatheters market was valued at US$ 410.0 million in 2019 and is projected to reach US$ 773.1 million by 2027; it is expected to grow at a CAGR of 8.4% during 2020–2027. The market growth is attributed to the escalating cardiovascular disease prevalence, increasing neurovascular disease incidence, and rising elderly population. However, product recall and stringent regulatory requirements, and the lack of expert professionals are the major factors hindering the market growth.

Escalating Prevalence of CVDs Fuels Microcatheters Market Growth

According to the World Health Organization (WHO), CVDs are the most prominent cause of morbidity and mortality in the world. The CVDs include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and so on. Tobacco chewing/inhaling/consumption, unhealthy diet, and physical inactivity, which increase the risk of heart attacks and strokes, are the major lifestyle factors causing the CVDs and related difficulties. Moreover, the other risk factors related to CVDs are high blood pressure, diabetes, and elevated cholesterol levels. Heart attacks and strokes are mainly caused by fat depositions blocking blood vessels, thereby disrupting blood flow to heart or brain. Bleeding blood vessels in the brain or bleeding from blood clots may also cause strokes.

As per the WHO data, published in 2017, ~17.9 million people died from CVDs in 2016, which was 31.0% of all the global deaths in that year. Among these, ~85% of death cases were due to heart attack and stroke. According to the European Cardiovascular Disease Statistics 2017, CVDs cause 3.9 million deaths in Europe and more than 1.8 million deaths in the European Union (EU) every year. The CVDs accounts for 45.0% of all deaths in Europe and 37.0% of all deaths in the EU.

 Microcatheters Market: Segmental Overview

On the basis of indication, the microcatheters market is segmented into neurovascular, coronary, and general peripheral vascular. The coronary segment held largest market share in 2019, and it is anticipated to register the highest CAGR in the market during the forecast period. This category includes a few of the commonly observed heart conditions such as cerebrovascular disease, coronary heart disease, peripheral arterial disease, deep vein thrombosis and pulmonary embolism, and congenital heart disease. The prevalence of cardiovascular diseases in steadily growing across the world, also the number of mortalities caused by the condition are significantly higher.  

Microcatheters Market: Competition Landscape & Key Developments

Boston Scientific Corporation, Teleflex Incorporated, Medtronic, Biomerics, Asahi Intecc USA, Inc, Merit Medical Systems, Inc, Stryker, Terumo Medical Corporation, Tokai Medical Products, and Penumbra are key companies operating in the microcatheters market. The market leaders are continuously looking forward to expanding and diversifying their market presence and reaching out to new customers, thus tapping prevailing business opportunities.

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