Cardiac Microcatheter Market Developments and Forecast by 2028

[Research Report] The cardiac microcatheter market is projected to reach US$ 487.20 million by 2028 from US$ 332.97 million in 2022. It is expected to register a CAGR of 6.8% from 2023 to 2028.

Analyst Perspective

The rising prevalence of cardiovascular diseases and growing use of percutaneous coronary intervention drive the cardiac microcatheter market growth. The rising number of patients suffering from chronic conditions and increasing activities in research and development are the key factors propelling the market for cardiac microcatheter. Furthermore, the cardiac microcatheter market key players are focusing on strategic initiatives by launching new products to expand their geographic reach and enhance capacities to cater to a large customer base. For instance, 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.

Market Overview

Cardiac microcatheters are specialized devices used in interventional cardiology procedures to access and treat various cardiovascular conditions. These microcatheter are designed to navigate the complex anatomy of the heart and its blood vessels with precision and control. Cardiac microcatheters are used in a variety of procedures, including angioplasty, angiography, atherectomy, and thrombectomy, as well in the placement of stents or other devices. They provide access to coronary arteries and can deliver therapeutic agents or devices to treat blockages, narrowing, or other abnormalities.

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Cardiac Microcatheter Market: Strategic Insights

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Market Driver

Increasing Prevalence of Cardiovascular Diseases Drives Global Cardiac Microcatheter Market

According to the World Health Organization (WHO), cardiovascular diseases are the most prominent cause of morbidity and mortality worldwide. cardiovascular diseases include cerebrovascular disease, coronary heart disease, and rheumatic heart disease. Major lifestyle factors causing cardiovascular diseases and related difficulties are tobacco consumption, unhealthy diet, and physical inactivity, among others. The other risk factors related to cardiovascular diseases are high blood pressure, diabetes, and elevated cholesterol levels. Heart attacks and strokes are mainly caused by fatty deposits that block blood vessels, disrupting blood flow to the heart or brain. According to a report from American Heart Association, in 2020, ~19 million deaths were attributed to cardiovascular diseases globally, which amounted to an increase of 18.7% from 2010. Ischemic heart disease was the most common cause of cardiovascular mortality, claiming more than 9.4 million lives and 185 million disability-adjusted life-years in 2020, while ischemic stroke, intracerebral hemorrhage, hypertensive heart disease, and rheumatic heart disease rounded out to be the top 5 leading causes.

According to American Heart Association Inc., the cardiovascular diseases -related deaths recorded in 2020 increased to 928,741 from 874,613 in 2019. Between 2018 and 2019, direct and indirect costs of total cardiovascular diseases were US$ 407.3 billion (US$ 251.4 billion in direct costs and US$ 155.9 billion in lost productivity/mortality). In 2020, coronary heart disease was the leading cause (41.2%) of deaths attributable to cardiovascular diseases in the US, followed by stroke (17.3%), high blood pressure (12.9%), heart failure (9.2%), diseases of the arteries (2.6%), and other cardiovascular diseases (16.8%). Also, the World Heart Federation predicts more than 23 million cardiovascular diseases -related deaths per year by 2030.

According to a study “Cardiovascular Diseases in Central and Eastern Europe,” published in 2020 by European Society of Cardiology, cardiovascular diseases are the leading cause of death in Europe, accounting for 45% of all deaths. Cardiovascular risk factors are highly prevalent in Central and Western Europe, owing to smoking habits and heavy alcohol consumption rates, especially among men. More than 4 million Europeans die yearly from cardiovascular diseases, mainly due to coronary artery disease and stroke. The Middle East too has a high prevalence rate of cardiovascular diseases, which has surged the need for various interventions such as health education, lifestyle counseling, screening, and treatment in this region. According to the World Heart Federation, cardiovascular disease is the primary cause of death in the Middle East & North Africa, accounting for more than a third of all deaths or 1.4 million people annually. Furthermore, over the past 30 years, cardiovascular diseases deaths have increased by 48%, accounting for 40% and 10% of deaths in Oman and Somalia, respectively. In 2021, age-standardized cardiovascular diseases mortality rates in the Middle East and North Africa ranged from 134.2 to 600.2 per 100,000 people. Therefore, the high prevalence of cardiovascular diseases is boosting the cardiac microcatheter market.

Segmental Analysis

Based on indication, the cardiac microcatheter market is segmented into general peripheral vascular and coronary. 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. The market position of this segment is due to the precision and control the coronary microcatheter offer. Microcatherthers are extremely thin and flexible, enabling cardiologists to navigate through the intricate network of coronary arteries with precision and control. They can reach even the narrowest and most tortuous vessels, allowing for accurate diagnosis and targeted treatment.

Regional Analysis

North America is the dominating region in the cardiac microcatheter market. The North America cardiac microcatheter market was valued at US$ 127.55 million in 2022 and is projected to reach US$ 188.10 million by 2028; it is expected to register a CAGR of 6.9% during the forecast period. The North-America cardiac microcatheter market is segmented into the US, Canada, and Mexico. The regional market growth is attributed to factors such as increasing incidence of heart diseases, including cardiovascular diseases, stroke, and others, coupled with well-developed healthcare infrastructure. The high preference for minimally invasive procedures among a large patient population and healthcare professionals to treat cardiac disorders is expected to promote the cardiac microcatheter market growth during the forecast period.

Cardiac Microcatheter Market Regional Insights

The regional trends and factors influencing the Cardiac Microcatheter Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cardiac Microcatheter Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Cardiac Microcatheter Market Report Scope

Cardiac Microcatheter Market Players Density: Understanding Its Impact on Business Dynamics

The Cardiac Microcatheter Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Cardiac Microcatheter Market are:

1. Boston Scientific Corp
2. Teleflex Inc
3. Medtronic Plc
4. OrbusNeich Medical Group Holdings Ltd
5. Asahi Intecc USA Inc

Disclaimer: The companies listed above are not ranked in any particular order.

Key Player Analysis

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 major players operating in the cardiac microcatheter market. Among these players, Medtronic Plc and Boston Scientific Corp are the top two players owing to the diversified product portfolio they offer.

Recent Developments

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the cardiac microcatheter market. A few recent key market developments are listed below:

• In 2019, Navitian, a new coronary microcatheter from iVascular, received the CE mark approval. The device was approved to facilitate, guide, and support a guidewire while accessing the coronary system, exchanging guidewires, and injecting radiopaque contrast media or saline solutions.
• 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 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 2023, Al Qassimi Hospital in the UAE collaborated with Philips in order 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.