As cited by the research report titled ‘Microcatheters Market Size By Product, By Design (Single Lumen Microcatheters, Dual Lumen Microcatheters), By Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global microcatheters market is projected to expand significantly over 2021-2027.
 

Increasing healthcare spending, growing number of patients suffering from cardiovascular ailments, rising preference for minimally invasive surgeries, coupled with a shift from manually operated devices to robotic devices are the major factors driving the global microcatheters market growth.
 

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For the record, microcatheter is a small diameter catheter, mainly used in minimally invasive procedures, mostly for delivering devices. Its small shape makes it ideal for navigating into complex vasculature inside the human body. These catheters are generally between 0.70mm - 1.30mm in diameter and are primarily used for guidewire support, delivering therapeutic embolic, distal anatomy, injecting contrast media, accessing cross lesions, and to perform other types of complex endovascular procedures.
 

On the basis of product type, worldwide microcatheters industry is segmented into diagnostic microcatheters, aspiration microcatheters, delivery microcatheters, and steerable microcatheters. Among these, steerable microcatheter segment amassed USD 158 million in 2020 and is anticipated to grow with 8% CAGR over the analysis period. This can be credited to progressive shift from manually operated devices to robotically managed surgical devices, alongside ability of these devices to simplify selective catheterization. 
 

Considering design range, the marketplace is divided into single lumen microcatheters, and double lumen microcatheters. As cited in the report, double lumen segment accumulated USD 424 million in 2020 and is poised to expand at a CAGR of 8% over the forecast timeline, owing to preference for minimally invasive surgical procedures worldwide.
 

Speaking of application range, the business space is categorized into cardiovascular, peripheral vascular, neurovascular, and oncology. Among these, cardiovascular segment accounted for USD 304 million in 2020 and is estimated to record 8.2% CAGR through 2027, on account of rise in number of patients with cardiovascular ailments.
 

As per geographical analysis, North America, Middle East & Africa, Asia-Pacific, Europe, and Latin America are the major contributors to the overall microcatheters industry value. According to the report, Middle East & Africa market was valued at USD 35 million in 2020 and is likely to witness 8.8% CAGR over the forecast timeframe, owing to increasing healthcare spending, along with a large patient pool in the region.
 

Prominent players influencing the industry trends are Reflow Medical Inc., Penumbra Inc., Merit Medical Systems Inc., Medtronic plc, Embolx Inc., Cook Group Incorporated, Cardiovascular Systems Inc., Boston Scientific Corporation, Asahi Intecc USA Inc., Acrostak (Schweiz) AG, Integer Holdings Corporation, Transit Scientific, Terumo Medical Corporation, Teleflex Incorporated, and Stryker Corporation.