The microcatheters market share is forecast to grow appreciably in the years to come due to growing healthcare spending, rise in the number of patients suffering from cardiovascular ailment, a shift from manually operated devices to robotically operated surgical devices, and rising preference for minimally invasive surgeries.

A microcatheter is known as a small diameter catheter which is mainly used in minimally invasive procedures, largely for delivering devices. Its small shape makes it perfect for navigating complex vasculature inside the human body.

These types of catheters are most commonly found across all the healthcare and medical device industries. These are also commonly used in PCI or percutaneous coronary intervention. The microcatheters are usually between .70mm - 1.30mm in diameter, and are commonly used for guidewire support, inject contrast media, deliver therapeutic embolic, to access cross lesions, distal anatomy, exchanges as well as to perform other types of procedures in complex endovascular procedures.

The microcatheters market is bifurcated into various different segments in terms of product, design, application, and regional landscape.

With respect to product, the market for microcatheters is categorized into steerable microcatheters, aspiration microcatheters, diagnostic microcatheters, and delivery microcatheters. Among these, the steerable microcatheter segment was valued at $158 million in 2020 and will exhibit robust demand over the coming time period. The segment is estimated to show more than 8.0% CAGR over the forecast time period.

The segmental growth is attributed to the ongoing shift from manually operated devices to robotically operated surgical devices. As per the Journal of Geriatric Cardiology, these catheters have been used mostly in cardiac applications like balloon delivery to enhance the flow of vessel in geriatric patients.

Steerable microcatheter device allows the user to change the angle of the tip of microcatheter manually, while potentially making selective catheterization simpler. These devices could also be used to place as well as exchange guidewires along with other standard devices for therapeutic and diagnostic applications.

Based on design, the market for microcatheters is divided into dual lumen microcatheters and single lumen microcatheters. Dual lumen segment generated a revenue of more than $424 million in 2020 and is slated to grow at a CAGR of 8.0% over the analysis timeline. Rising preference for minimally invasive surgical procedures across the world will drive the growth of this segment.

In terms of application, the overall microcatheters market is segmented into oncology, peripheral vascular, neurovascular, cardiovascular, and others. Back in 2020, the cardiovascular segment was valued at more than $304 million and will continue to grow substantially in the years to come. The segment is projected to witness a CAGR of 8.2% through the analysis timeline due to a significant rise in the number of patients suffering from cardiovascular ailment.

On the geographical front, in 2020, MEA microcatheters market was valued at more than $35 million and is anticipated to witness CAGR of 8.8% over the forecast period. The growth is majorly ascribed to increasing healthcare spending and the availability of large patient pool in the region.