Pune, India, June 12, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Cardiac Microcatheter Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Indication, End User, and Geography,” the market is expected to grow from USD 332.97 million in 2022 to USD 487.20 million by 2028; it is estimated to register a CAGR 6.8% during 2023–2028. The cardiac microcatheter market demand is influenced by increasing prevalence of cardiovascular diseases and growing use of percutaneous coronary intervention.
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Global Cardiac Microcatheter Market Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | USD 332.97 Million in 2022 |
| Market Size Value by | USD 487.20 Million by 2028 |
| Growth rate | CAGR of 6.8% from 2023 to 2028 |
| Forecast Period | 2023-2028 |
| Base Year | 2023 |
| No. of Pages | 150 |
| No. of Tables | 56 |
| No. of Charts & Figures | 62 |
| Historical data available | Yes |
| Segments covered | Indication, and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Browse key market insights spread across 150 pages with 56 list of tables & 62 list of figures from the report, "Cardiac Microcatheter Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Indication (General Peripheral Vascular and Coronary) and End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/cardiac-microcatheter-market
Global Cardiac Microcatheter Market: Competitive Landscape and Key Developments
Boston Scientific Corp, Teleflex Inc, Medtronic Plc, OrbusNeich Medical Group Holdings Ltd, Asahi Intecc USA Inc, Merit Medical Systems Inc, Nipro Corp, Terumo Corp, Tokai Medical Products Inc, and Integer Holdings Corp are among the key companies operating in the cardiac microcatheter market. Leading players are adopting strategies such as the launch of new products, expansion and diversification of their market presence, and acquisition of new customer base for tapping prevailing business opportunities.
In February 2022, Teleflex Incorporated, a leading global provider of medical technologies, announced that the US Food and Drug Administration (FDA) has cleared an expanded indication for its specialty catheters and coronary guidewires for use in crossing chronic total occlusion percutaneous coronary interventions (CTO PCI).
In July 2021, Terumo Medical Corporation (TMC) announced AZUR Vascular Plug, the first and only plug compatible with a microcatheter to occlude arteries up to 8 mm in diameter. The newest addition to Terumo's robust embolization portfolio is indicated for use to reduce or block the blood flow rate in peripheral vasculature arteries.
In February 2020, Medtronic, in collaboration with Surmodics Inc. (US), has brought to the market a microcatheter that is expected to become the reference for multiuse microcatheters in percutaneous coronary intervention. Surmodics is a company specialized in the manufacture of hydrophilic coatings that has been collaborating with Medtronic for many years to improve the performance of their devices.
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New Product Approvals, Launches, and Awareness in Field of Cardiac Microcatheter
As a coronary interventional tool, microcatheters support the performance of invasive endovascular procedures by fulfilling a wide range of functions in complex vascular anatomies. Manufacturers across the world are investing in research and development of advanced technologies, which has led to the development of new and advanced products, along with a surge in product approvals. A few product approvals and developments are listed below:
In 2021, Baylis Medical unveiled the first clinical case of the JLL 2-French electrophysiology microcatheter in Europe. The launch enables physicians to reach previously inaccessible areas of the heart for procedure mapping, thereby introducing the smallest diagnostic catheter available in the European market. The 2F microcatheter also allows mapping and pacing in smaller anatomy, such as the Vein of Marshall.
In 2020, Acist Medical Systems Inc., a Bracco Group Company, announced the global launch of its Acist Navvus II Rapid Exchange fractional flow reserve (FFR) microcatheter, the second-generation microcatheter for use with its Acist RXi Rapid Exchange FFR System. FFR measurements assess arterial lesion severity and the intervention strategies in diagnosing and treating coronary artery disease.
In May 2023, Acotec Scientific Holdings Ltd. received Chinese marketing approval for its microcatheter Vericor-14 to assist in percutaneous coronary interventions and percutaneous peripheral interventions, taking a step ahead in a competitive market that is poised to grow eightfold by the end of the decade.
In 2023, Al Qassimi Hospital in the UAE collaborated with Philips to allow access to Ultra-Low Contrast Percutaneous Coronary Intervention (ULC-PCI) to more patients in the Middle East, Turkey, and Africa. The new ULC-PCI Interventional Cardiology course at Al Qassimi Hospital is part of a global education program by Philips to share knowledge regarding the technology that can offer low-contrast, minimally invasive treatment for coronary artery disease, thereby spreading awareness among patients.
Therefore, a surge in new product approvals, launches, and awareness in the field of cardiac microcatheter is expected to fuel the cardiac microcatheter market growth during the forecast period.
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North America accounted for a major share of the global cardiac microcatheter market in 2022. The market growth in countries such as the US and Canada is driven by increasing incidence of heart diseases, including cardiovascular disorders, stroke, and others, coupled with well-developed healthcare infrastructure. Heart disease is the leading cause of death in the US. According to American Heart Association, one person dies every 34 seconds in the US from cardiovascular disease. About 697,000 people in the US died from heart disease in 2020, i.e., one in every five deaths. The increasing rates of cardiovascular disorders in the US have been attributed to the escalating prevalence of risk factors such as hypertension, high cholesterol levels, low HDL cholesterol, obesity, diabetes mellitus, abdominal obesity, and smoking. Heart disease costs the US about US$ 219 billion each year. This total includes the cost of health care services, medications, and premature death. The country has introduced various new products for the timely diagnosis of cardiovascular diseases. For instance, in January 2022, BENDIT Technologies announced the first use of the BENDIT21 neuro catheter in the US in a life-saving treatment. The microcatheter is designed to allow access to hard-to-reach vasculature locations due to its three-dimensional clinician-controlled movement and independent control of catheter tip deflection. Due to the rising incidence of cardiac diseases and new product launches, the cardiac microcatheter market is anticipated to grow considerably during the forecast period.
Based on indication, the global cardiac microcatheter market is segmented into coronary and general peripheral vascular. In 2022, the coronary segment held a larger market share in 2022 and is anticipated to register a higher CAGR of 6.9% during the forecast period (2023–2028). cardiovascular disorders are a group of disorders associated with abnormalities in the heart and blood vessels. This category includes commonly observed heart conditions such as cerebrovascular disease, coronary heart disease, peripheral arterial disease, congenital heart disease, deep vein thrombosis, and pulmonary embolism. PCI has gained popularity among cardiologists across the world for bifurcation lesions, ostial location, tortuous anatomy, angled takeoffs, coronary calcification, and CTO. Microcatheters—both single-lumen and double-lumen microcatheters (DLMs)—play an essential part in the tool kit while treating complex lesions. Microcatheter selection involves a detailed understanding of the microcatheter specification, lesion anatomy, lesion location, vessel tortuosity and trajectory, and crossing techniques.
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Global Cardiac Microcatheter Market: End User Overview
The cardiac microcatheter market, by end user, is segmented into hospitals, ambulatory surgical centers, and specialty clinics. In 2022, the hospital segment held the largest market share in 2022 and is anticipated to register the highest CAGR of 7.1% during the forecast period (2023–2028). Hospitals serve a significant role by providing extensive medical services to patients suffering from various diseases. The segment's growth is majorly attributed to the increasing number of hospitals with advanced facilities, rising focus on offering superior patient experience, and growing preference of patients to opt hospitals to get treatment for coronary conditions. Also, increasing government funding in hospitals and growing hospital research drive the market growth. According to the Definitive Healthcare data, as of August 2020, there were 7,247 active hospitals in the US. The hospitals in the country embrace state-of-the-art medical technology, encourage new physicians, and are often the point of entry to healthcare for the uninsured. The increasing number of hospitals, improvements in reimbursement policies, and surging incidences of CVDs are expected to drive the cardiac microcatheter market.
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