According to the research report titled ‘Microcatheters Market Size By Product, 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 anticipated to grow considerably through 2027.
 

Increasing healthcare expenditure, rising number of patients with cardiovascular ailments, transition from manually operated devices to mechanically operated surgical devices, and growing preference for minimally invasive surgeries are the primary factors driving the growth of the global microcatheters market.
 

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For the record, a microcatheter is a thin tube with a small diameter that is mostly used in minimally invasive procedures. Its small shape makes it ideal for navigating complex vasculature within the human body.
 

However, high risk and complexity related with microcatheters is acting as a major restraint for the industry growth.
 

Based on product, global microcatheters market is fragmented into diagnostic microcatheters, delivery microcatheters, aspiration microcatheters, and steerable microcatheters. As per the report, the steerable microcatheter segment surpassed USD 158 million in 2020 and it is projected to expand at 8% CAGR over the forecast duration due to shifting preference from manually operated devices to mechanically operated surgical devices.
 

Speaking of the design range, the industry is divided into single lumen microcatheters and double lumen microcatheters. Among these, the double lumen segment amassed over USD 424 million in 2020 and is expected to expand at 8% CAGR over 2021-2027 owing to increasing preference to minimally invasive surgical procedures.
 

Moving on to the application ambit, the marketplace is classified into cardiovascular, peripheral vascular, neurovascular and oncology. From these, the cardiovascular segment accrued USD 304 million in 2020 and is expected to witness 8.2% CAGR over the forecast timeline, creditable to rising number of patients with cardiovascular ailments.
 

As per regional framework, Middle East and Africa microcatheters market size reached USD 35 million in 2020, and is expected multiply at a CAGR of 8.8% over the forecast timeline. Increasing healthcare expenditure and presence of large patient pool is favoring the industry growth in the region.
 

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