Cardiac Microcatheter Market Global Research Report And Gross Margin Analysis Till 2028

According to Premium Market Insights new research study on "Cardiac Microcatheter Market size was valued at US$ 332.97 million in 2022 and is projected to reach US$ 487.20 million by 2028; it is expected to grow with a CAGR of 6.8% from 2023 to 2028.

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Some Of the Major Players Influencing are 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, Integer Holdings Corp.

An increasing prevalence of cardiovascular diseases and the growing use of percutaneous coronary intervention (PCI) for treating chronic total occlusions (CTO) are among the factors contributing to the cardiac microcatheter market growth.

Microcatheter is defined as a small diameter catheter that is used in minimally invasive procedures for delivering devices. Its small build makes it ideal for navigating complex vasculature within the human body. It is used for guidewire support, exchanges, to access distal anatomy, cross lesions, deliver therapeutic embolic, inject contrast media, and perform other procedures in complex endovascular procedures. Microcatheters are also commonly used in percutaneous coronary intervention (PCI).

Growing Use of Percutaneous Coronary Intervention (PCI) for Treating Chronic Total Occlusions (CTO), Increase in Healthcare Expenditures and Government Initiatives

Percutaneous coronary intervention (PCI) is one of the most difficult procedures for treating of chronic total occlusions (CTO), resulting in successful recanalization of CTO. CTOPCIs represent 4% of all PCIs for stable angina in the US. Further, CTO is complete or near-complete blockage of one or more coronary arteries. The blockage usually lasts approximately three months due to plaque build-up within a coronary artery. As per the National Heart, Lung, and Blood Institute, CTOs are found in approximately one-third of patients undergoing angiography. According to Eurostat, 1 million transluminal coronary angioplasty surgeries and 138,000 cardiac bypass surgeries were performed in 2020.

Significant progress has been made in this area over the past decade, given the novel product launches and approvals. However, the launch of new technical devices and strategic refinements are still being monitored in the procedures to combat CTOs as the microcatheters are used as a coronary interventional tool. This tool provides a therapeutic approach to complex coronary interventions such as bifurcation lesions, tortuous anatomy, ostial location, coronary calcification, angled takeoffs, and CTO. Terumo's FineCross MG microcatheter integrates cross ability and guidewire support for treating challenging cases including tortuous vessels, CTOs, bifurcations, as well as severely stenosed and calcified lesions. According to Europa Group, dual lumen microcatheters (DLMCs) have become indispensable tools in the context of PCI for the treatment of CTO. DLMC allows the preservation and management of bifurcated coronary branches within or near the CTO body. It also enables the usage of collateral selection, antegrade dissection and re-entry, modified parallel wiring, and retrograde negotiation of the distal CTO cap. Therefore, the growing usage of PCIs for treating CTO is catalysing the cardiac microcatheter market growth.

In Europe, public spending on healthcare has grown faster than domestic spending, but mainly in high-income countries. Eurostat stated that the EU's total government expenditure on healthcare in 2021 was ~US$ 1,283.98 billion (€ 1,179 billion), or 8.1% of the region's GDP. Germany recorded

the highest healthcare expenditure among the EU member states, with US$ 530.60 billion (€ 432 billion) in 2020. France recorded the second-highest healthcare expenditure [US$ 345.14 billion (€ 281 billion)], followed by Italy [US$ 196.52 billion (€ 160 billion)] and Spain [US$ 147.39 billion (€ 120 billion)]. Further, the European Commission's EU4Health program, the Next Generation Recovery Funds, and the Horizon Europe Research Funds offer an opportunity to address the burden of cardiovascular diseases and improve the cardiovascular health of citizens by implementing preventative measures identified in an EU Action Plan for better cardiovascular health. This plan covers the overall patient journey, from prevention and early detection to access to care and treatment to quality of life and functioning status, considering the vital role of digitization and innovation at all stages. The increasing healthcare expenditure in developed and developing economies are expected to create ample opportunities in the cardiac microcatheter market.

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The Initiative HEARTS in the Americas is led by the Ministries of Health with the participation of local stakeholders and the technical cooperation of the Pan American Health Organization (PAHO). The Initiative is being implemented in more than 1,400 health centers in 22 countries across the region. By 2025, HEARTS will be the model for cardiovascular risk management, including hypertension, diabetes, and dyslipidemia, in primary health care in the Americas. Moreover, heart disease costs the Asia Pacific markets US$ 46.3 billion (estimated across Australia, Mainland China, Hong Kong, Japan, Singapore, South Korea, Taiwan, and Thailand). According to the article "Cost analysis of treating cardiovascular diseases in a super-specialty hospital," published in 2022 in Polos One, per patient cost of treating any cardiovascular disorders was computed to be US$ 3,842 (INR 247,822). The cost of treating rheumatic heart disease was the highest among all cardiovascular disorders, followed by cardiomyopathy and other cardiovascular disorders. Therefore, increasing healthcare spending and government-led initiatives regarding heart health are expected to provide an opportunity for the cardiac microcatheter market growth in the coming years.

Segmental Analysis

Insight-Based Insights

Based on insight, the cardiac microcatheter market is bifurcated into general peripheral vascular and coronary. The coronary segment held a larger market share in 2022 and is anticipated to register a higher CAGR in the market during the forecast period. The demand for coronary microcatheter is increasing due to the rising incidences of coronary artery diseases like angina pectoris and increasing cases of abrupt cardiac death.

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End User-Based Insights

Based on end user, the cardiac microcatheter market is segregated as hospitals, specialty clinics, ambulatory surgical centers. The hospitals segment held the largest market share in 2022. The hospitals segment is anticipated to register the higher CAGR in the market during the forecast period due to the increasing number of hospitals, improvements in reimbursement policies, and surging incidences of cardiovascular diseases are expected to drive the cardiac microcatheter market.

A few of the major primary and secondary sources referred to while preparing the report on the cardiac microcatheter market are the Australian Institute of Health and Welfare and National Institute of Health, among others.

Table Of Contents

Introduction
1.1 Scope of the Study

1.2 Research Report Guidance

1.3 Market Segmentation

1.3.1 Global Cardiac Microcatheter Market - by Indication

1.3.2 Global Cardiac Microcatheter Market - by End User

1.3.3 Global Cardiac Microcatheter Market - by Geography

Cardiac Microcatheter Market - Key Takeaways
Research Methodology
3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

Cardiac Microcatheter Market - Market Landscape
4.1 Overview

4.2 PEST Analysis

4.2.1 North America PEST Analysis

4.2.2 Europe PEST Analysis

4.2.3 Asia Pacific PEST Analysis

4.2.4 Middle East & Africa PEST Analysis

4.2.5 South & Central America PEST Analysis

4.3 Experts' Opinion

Cardiac Microcatheter Market - Key Market Dynamics
5.1 Market Drivers

5.1.1 Increasing Prevalence of Cardiovascular Diseases

5.1.2 Growing Use of Percutaneous Coronary Intervention (PCI) for Treating Chronic Total Occlusions (CTO)

5.2 Market Restraints

5.2.1 Complications and Failures Related to Usage of Cardiac Microcatheter

5.3 Market Opportunity

5.3.1 Increasing Healthcare Spending and Government-led Initiatives Regarding Heart Health

5.4 Future Trends

5.4.1 Surge in New Product Approvals, Launches, and Awareness in Field of Cardiac Microcatheter

5.5 Impact Analysis of Drivers and Restraints

Continued…...!

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