The global sales of peripheral micro catheters are estimated to be worth USD 1,004.9 million in 2024 and are anticipated to reach a value of USD 1,940.2 million by 2034. Sales are projected to rise at a CAGR of 6.8% over the forecast period between 2024 and 2034. The revenue generated by peripheral micro catheters in 2023 was USD 940.9 million.
The market for peripheral micro catheters is expanding rapidly as a consequence of the increased popularity of cardiovascular and peripheral vascular issues, along with the greater use of minimally invasive procedures.
Peripheral micro catheters are needed in complex surgical procedures, whether for drug delivery or for the passage of other medical devices through such areas of sick plaque in a person's vessels (i.e. navigating target areas).
Furthermore, technical advances and new designs in micro catheter are driving the market. Governmental systemic factors (i.e. reimbursement) built on consumer demand from the aging population is also creating increased demand for peripheral micro-catheter, growing this medical device market.
Global Peripheral Micro Catheters Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 940.9 million |
| Estimated Size, 2024 | USD 1,004.9 million |
| Projected Size, 2034 | USD 1,940.2 million |
| Value-based CAGR (2024 to 2034) | 6.8% |
A larger growth opportunity for peripheral micro catheters will derive from the increased number of patients opting for surgical or minimally invasive procedures. Due to the increasing trend of minimally invasive surgical procedures, micro catheters have the important role of precise drug delivery and facilitating other devices to measure structure or fixed procedures, therefore the demand for peripheral micro catheters will prevail.
A significant factor related to increasing sales of peripheral micro catheters is based on demographic trends, as there are increasing patient populations are consistent related to vascular disease. There is, and will be, a large dominant population that is growing older and are seeing rising cases of lifestyle related disease, such as diabetes and cardiovascular related cases.
Peripheral micro catheters are critical to treating cases of cerebral and peripheral vascular-related-conditions; therefore, overall penetration in the clinical framework will continue to rise as cases of these conditions also increase.
According to the Society for Cardiovascular Angiography and Interventions, more than 10 million residents of the USA suffer from peripheral arterial disease, indicating the significant demand for these devices.
Poor lifestyle and eating choices, particularly in individuals with diabetes and those who smoke will further complicate cardiovascular diseases, leading to an increase in demand for peripheral micro catheters globally. The combination of increased health issues for these diseases and the rise in minimally invasive surgery will allow the peripheral micro catheters market to continue to grow in the future.
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The table below compares the compound annual growth rate (CAGR) for the global Peripheral Micro Catheters market from 2023 to 2024 during the first half of the year. This overview highlights key changes and trends in revenue growth, offering valuable insights into market dynamics.
H1 covers January to June, while H2 spans July to December. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 7.5%, followed by a slightly lower growth rate of 7.2% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 7.5% (2023 to 2033) |
| H2 | 7.2% (2023 to 2033) |
| H1 | 6.8% (2024 to 2034) |
| H2 | 6.3% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 6.8% in the first half and projected to lower at 6.3% in the second half. In the first half (H1) the market witnessed a decrease of 70 BPS while in the second half (H2), the market witnessed a decrease of 90 BPS.
Rising Cardiovascular Disease Rates Drive Demand for Peripheral Micro Catheters
The growing prevalence of cardiovascular diseases, especially conditions like peripheral artery disease (PAD) and deep vein thrombotic disease (DVT), is one of the driving factors for the growth of the peripheral micro catheter market.
As reported by the Lancet Global Health journal, in the year 2019 it was established that there were approximately 113 million individuals aged over 40 years and suffered from PAD (Prevalence 1.52%), 42.6% of which was found in the low to middle SDI (Socio-demographic index) countries, highlighting a dire need for strategies to provide effective medical therapies across the various regions of the globe.
In many cardiovascular interventions, treatment of cardiovascular diseases requires the use of microcatheters. The number of catheter-based procedures is expected to dramatically increase as PAD and DVT become prevalent all over the world, which will raise the need for improved microcatheters capable of complex vascular navigation and targeted.
The growing number of patients combined with the rising awareness, and use and exploration of newer intervention techniques may render the peripheral micro catheter market appealing.
Companies are enhancing their efforts to meet the treatment requirements of such prevalent diseases by concentrating on innovating and introducing minimally invasive therapies, which are gaining acceptance in most healthcare settings.
Innovative Coating Technologies Present New Opportunities for Peripheral Micro Catheters
Recent advances in peripheral micro catheter technologies offer compelling growth opportunities for the market. One impressive innovation is the affiliation of nylon fibers on a platinum backbone, which adds to the filling capacity and thrombogenicity of the coils on the micro catheters. This innovation will heighten the effectiveness of embolization approaches creating better advances in clinical efficacy.
Furthermore, the investigation of multiple coatings and fiber types to increase platelet aggregation is also a growing specialization in peripheral micro catheters. While some devices still utilize bare metal coils, coated and fiber-enhanced technologies represent a clear market opportunity for growth.
Companies involved in a process to develop and commercialize micro catheter technologies will provide differentiation in this space, to accommodate stronger demand for minimally invasive procedures with unique clinical needs associated wholeheartedly with advancement in other technologies.
This emphasis on eliminating bioactive performance with advanced coatings and materials allows peripheral micro catheter producers to differentiate itself in the market of advancements in vascular diseases and more value-added treatment.
Advancements in Catheter Materials and Designs Boost Peripheral Micro Catheter Market
The peripheral micro catheter market consists of a variance of exponential growth supported by the evolution of catheter coatings, materials, and performance in designs. These advancements have supported and enhanced the function and navigation in micro catheters, safety, and effectiveness of existing procedures.
One specific advancement is associated with the functionality that has been providing enhanced support with advanced materials, which increases flexibility and durability. More typically, with this newer generation of micro catheters, which are made of polymers, more reliable solutions improve flexibility inside vascular networks. On an ischemic target, less kinking and better engineering targeting have been seen.
Further innovation with coatings on current micro-catheters has offered comfort by improving overall process capabilities. As there is availability of biocompatibility and friction reducing for navigating in the vessels, it has reduced the impact of lesions (vessel injury), enhanced the patient experience, and increased the coverage area for better outcomes in a variety of interventional treatments.
Some of the coatings offer additional therapy action, such as improving medication transport or healing for endothelial surface renewal.
As companies continue to invest in research and development, the peripheral micro catheter market is expected to expand, offering more sophisticated solutions for a wide range of vascular conditions.
Risks Associated with Peripheral Micro Catheters to Lower the Market Growth
Despite the advancements in peripheral micro catheter technology, several risks and challenges present restraining factors for the market. These risks can impact the safety and effectiveness of procedures, potentially limiting market growth.
One significant risk is the potential for complications during or after the use of micro catheters. Complication such as thrombosis, vessel perforation and catheter-induced infections create a significant burden to healthcare systems as well as patients .
The delicate nature of micro catheter insertion and manipulation can sometimes lead to accidental damage to the vascular system, causing severe adverse events. Such risks necessitate rigorous training for medical professionals and stringent quality controls from manufacturers.
Another challenge is the issue of device-related thrombosis. Despite advances in coatings and materials, some microcatheters can still cause thrombus development, especially if they are not properly designed to reduce blood clotting. This can complicate treatments and perhaps cause patient injury, reducing the overall effectiveness of the treatment.
While advances in peripheral micro catheters show promise in terms of safety and performance, resolving complications, pricing difficulties, and regulatory challenges is critical for long-term market growth and best patient outcomes.
Principal Consultant
The global Peripheral Micro Catheters industry recorded a CAGR of 5.8% during the historical period between 2019 and 2023. The growth of Peripheral Micro Catheters diagnostics industry was positive as it reached a value of USD 1,940.2 million in 2034 from USD 1,004.9 million in 2024.
The peripheral micro catheter market demonstrates incredible evolution over the past few years, along with substantial technological advances and industry change. These devices were primarily basic in design and materials, leading to a maximum barrier of performance and comprehensive navigation capabilities, primarily occurring with basic designs and limited options and features.
The present marketplace demonstrates a clear transformation to best practices, enabled by technological advances. New standards of peripheral micro catheters use advanced materials including high performance polymers or composites, which improves both flexibility and durability.
With recent technological advances also coming with better coatings or surface treatments, the microsystems improved biocompatibility and may improve complications from thrombus through to infection. Recent designs of peripheral micro catheters include more advanced features such as real-time imaging and sensor integration in order to provide more effective, accurate, and safe techniques.
There is also increasing focus towards the customization of devices and patients needs onto medical conditions, which is reflective of a focus towards personalization and holistic care and lead to better patient outcomes. Robotic-assisted and minimally invasive technology also entered this space more recently, which brings on an additional layer of robustness, accuracy, and expandability to treatable patient conditions.
In conclusion, we can see that the evolution of peripheral micro catheter has moved from basic, functional medical devices to increasingly advanced, specialized tools that reflect bigger trends in the industry and emphases improving patient care and procedural effectiveness.
Tier 1 companies are the major companies as they hold a 58.4% share worldwide. The competition in this market is quite stiff as companies are making significant amounts of resources towards the R&D of new technologies to produce better peripheral microcatheters with unique materials and designs.
This is done to ensure that they remain competitive. There are also ongoing mergers and acquisitions to achieve a larger product portfolio and capture the market in all the regions. Some of the tier 1 level companies are Terumo Europe NV, Teleflex Incorporated, and Koninklijke Philips N.V. are prominent players in the market.
Tier 2 companies are relatively smaller as compared with tier 1 players. The tier 2 companies hold a share of 62.7% worldwide. In tier 2 level, companies are also developing and seeking targeted strategies in the specific niche markets as product extensions to be competitive.
Such segments are defined and correspond to more advanced competition. They are all bringing better regional distribution to the regional networks and have also established strategic alliances in order to enhance their competitiveness against bigger companies. Key Companies under this category include Merit Medical Systems, Cook, INCATHLAB and BrosMed Medical Co., Ltd.
Compared to Tiers 1 and 2, Tier 3 companies offer peripheral micro catheters, but with smaller revenue spouts and less influence. These companies mostly operate in one or two countries and have limited customer base. Tier 3 companies, although, smaller but are essential for the market. The companies such as Surmodics Inc., BrosMed Medical Co., Ltd., Cardiovascular Systems, Inc. and other falls under this category.
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The section below covers the industry analysis for the peripheral micro catheters market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided.
The United States is anticipated to remain at the forefront in North America, with a CAGR of 2.1% through 2034. In Asia Pacific, India is projected to witness the highest CAGR in the market of 7.7% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 2.1% |
| Germany | 2.4% |
| India | 7.7% |
| China | 6.8% |
| South Korea | 5.4% |
The USA dominates the global market with high share in 2023. The USA is expected to exhibit a CAGR of 2.1% throughout the forecast period (2024 to 2034).
The growing market consolidations of key manufacturers in the United States such as increasing their partnerships and alliances with local players to expand procedures in peripheral vascular therapy and facilitate growth in the peripheral micro catheter market.
For example, in Aug 2020, Royal Philips, a global health technology company, entered into an agreement to acquire Intact Vascular, a USA-based medical device innovator focused on peripheral vascular procedures that allow for minimally invasive technology.
This adds to the already extensive peripheral vascular portfolio at Phillips with advanced interventional imaging systems, intravascular ultrasound (IVUS) catheters to view lesion morphology, and precision technologies to confirm treatment outcomes.
As USA manufacturers, along with established global leaders, form similar partnerships and alliances, the market for peripheral micro catheters can rise. Partnerships allow for more versatile development of advanced minimally invasive devices that improve procedural efficiency and push the use of peripheral micro catheters in the United States healthcare system.
In 2023, Germany held a dominant revenue in the Western Europe market and is expected to grow with a CAGR of 2.4%.
Germany is also one of the leading manufacturers for medical devices which contributes to the growth of the peripheral micro catheter market. The country is built on a strong industrial base of engineering technology and medical technology practice that encourages product development and innovation in advanced vascular treatment devices or lower device improvements.
Manufacturers in Germany that are domestic and many global companies operating their business in Germany are reacting to these technological benefits by accessing world-class research, developed workforce, and favorable regulations to introduce innovative, high-level products to the country.
Moreover, Germany's healthcare infrastructure establishes an excellent market for advanced technology. Hospitals and specialty clinics are adopting innovation to accommodate such advanced vascular interventions. Therefore, the internal capability to manufacture and a leading healthcare system creates market demand for peripheral micro catheters further facilitating growth opportunity.
China occupies a leading value share in East Asia market in 2023 and is expected to grow with a CAGR of 6.8% during the forecasted period.
As reported by the GBD Study 2019, the growing prevalence of stroke in China, with 3.94 million new stroke cases, in particular, is having an increased demand for more sophisticated medical devices such as peripheral micro catheters.
With 2.87 million ischemic stroke (IS) and 0.85 million intracerebral hemorrhage (ICH) cases in particular, micro catheters can be especially helpful for these surgical conditions that can employ minimally invasive surgery such as thrombectomy and embolization.
The event rate of stroke is 276.7 per/100,000 population, thus reinforcing a need for precise tools for neurovascular interventions. As hospitals and healthcare facilities increasingly adopt these devices, the demand for peripheral micro catheters is expected to grow, making stroke management a key driving factor for the market in China.
This trend supports the development and adoption of more sophisticated micro catheter technologies in the region.
The section contains information about the leading segments in the industry. Based on product, the Guided Wires is expected to account 65.7% of the global share in 2024.
| Product | Guided Wires |
|---|---|
| Value Share (2024) | 65.7% |
By product, guided wires expected to hold a share of 65.7% in 2024. Guide wires are a leading product in the peripheral micro catheter area, much because these tools are important tools in an intervention.
Guide wires are useful because they guide micro catheters for navigational purposes through multiple vasculature for the exact delivery and/or wire positions when employing catheter-based treatments of angioplasty and placement of stents.
Their flexibility, torque controls, and designs also become important for both diagnostics and therapeutics. Due to many other recent innovative designs in materials and types of coatings with specificity, the guide wire has become important instrumentation as it relates to minimally invasive surgery leading to the growth in the peripheral micro catheter market development of consequences.
| By Application | Peripheral Venous Disease |
|---|---|
| Value Share (2024) | 43.7% |
Peripheral venous disease will account for 43.7% of the indication segment in 2024, and exhibit the highest CAGR in the forecast period.
Micro catheters are important in therapeutical procedures, such as dissipating deep vein thrombosis (DVT) or chronic venous insufficiency. They are used for functions like drug delivery, stenting, or thrombolysis and are vital for finding out venous access during minimally invasive surgeries.
As elderly people and sedentary lifestyles are increasing, there is scope for rising cases of Peripheral Venous Disease (PVD); there is thus an increasing requirement for surgical approaches that are minimally invasive. This unending necessity highlights PVD as a major contributing factor to the growth of the peripheral micro catheter market, with continued adoption driven by the advantages of these devices in minimally invasive procedures.
In the peripheral micro catheter market, the key manufacturers are implementing several strategic measures to stay ahead of their competitors. They are heavily investing their resources in the research and development of better materials and designs that enhance the safety and effectiveness of the catheters. New product development is also facilitated by forming joint ventures and acquiring smaller players.
Recent Industry Developments in peripheral micro catheters Market
In terms of product, the industry is divided into coils and spherical embolic and guided wires.
In terms of application, the industry is divided into atherosclerosis, peripheral venous disease and blood clotting disorders.
In terms of end user, the industry is segregated into hospitals, ambulatory surgical centers, emergency and trauma centers and cardiac catheterization centers
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe and Middle East and Africa (MEA) have been covered in the report.
The global peripheral micro catheters industry is projected to witness CAGR of 6.8% between 2024 and 2034.
The global Peripheral Micro Catheters industry stood at USD 940.9 million in 2023.
The global Peripheral Micro Catheters industry is anticipated to reach USD 1,940.2 million by 2034 end.
China is expected to show a CAGR of 6.8% in the assessment period.
The key players operating in the global Peripheral Micro Catheters industry include Surmodics Inc., BrosMed Medical Co., Ltd., Cardiovascular Systems, Inc., Terumo Europe NV, Teleflex Incorporated, Koninklijke Philips N.V., Merit Medical Systems, Cook and INCATHLAB.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand (Value in USD) and Volume (Units) Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Global Market - Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. By Product 6.2. By Application 6.3. By End User 6.4. By Region 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product 7.1. Coils and Spherical Embolic 7.2. Guided Wires 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application 8.1. Atherosclerosis 8.2. Peripheral Venous Disease 8.3. Blood Clotting Disorders 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End User 9.1. Hospitals 9.2. Ambulatory Surgical Centers 9.3. Emergency and Trauma Centers 9.4. Cardiac Catheterization Centers 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 10.1. North America 10.2. Latin America 10.3. East Asia 10.4. South Asia and Pacific 10.5. Western Europe 10.6. Eastern Europe 10.7. Middle East and Africa 11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Sales Forecast 2024 to 2034 by Product, Matrix, Application and End User for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Surmodics Inc. 20.2. BrosMed Medical Co., Ltd. 20.3. Cardiovascular Systems, Inc. 20.4. Terumo Europe NV 20.5. Teleflex Incorporated 20.6. Koninklijke Philips N.V. 20.7. Merit Medical Systems 20.8. Cook 20.9. INCATHLAB
Healthcare
June 2023
REP-GB-12575
220 pages
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Peripheral Micro Catheters Market
