As per Fact.MR – a market research and competitive intelligence provider, the global coronary microcatheters market was valued at around US$ 179 Mn in 2020, and is predicted to expand at a CAGR of 6.7% over the forecast period (2021–2031).
Factors boosting demand for coronary microcatheters include rapid adoption of innovative technologies in the healthcare sector and increasing prevalence of cardiovascular diseases across the world. Moreover, increasing number of players in the market is going to make this space highly competitive and also opportunistic. Diseases such as myocardial infarction and number of patients undergoing cardiology procedures such as angioplasty are increasing demand for coronary microcatheters.
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Key Takeaways from Market Study
- Single-lumen coronary microcatheters expected to contribute more than 52% revenue share in the market by 2031.
- Demand for angled tip coronary microcatheters expected to increase at a CAGR of 7.6% due to their mandatory use in angled lesions or vessels.
- Hospitals to dominate the market among all end-user segments and expected to reach US$ 287.8 Mn by 2031.
- The U.S. holds a prominent share in the global market due to increasing number of coronary microcatheter manufacturing companies in the country. This market is expected to rise at a CAGR of 7.2% through 2031.
“Increasing adoption of steerable microcatheters is expected to drive market growth over the coming years,” says an analyst of Fact.MR.
Coronary Microcatheters Categorization as Per Industry Research
- Single-lumen Coronary Microcatheters
- Dual-lumen Coronary Microcatheters
- Guide Extension Coronary Microcatheters
By Tip Type
- Steerable Coronary Microcatheters
- Angled Tip Coronary Microcatheters
- Straight Tip Coronary Microcatheters
- Stainless Steel Coronary Microcatheters
- Stainless Steel+ Polytetrafluoroethylene – PTFE Coronary Microcatheters
- Tungsten-braided Shaft Coronary Microcatheters
- Platinum/Tungsten Coil Coronary Microcatheters
- Coronary Microcatheters for Hospitals
- Coronary Microcatheters for Ambulatory Surgical Centers
- Coronary Microcatheters for Cardiac Catheterization Laboratories
- Coronary Microcatheters for Specialty Clinics
Obesity has become a major risk factor for a variety of cardiovascular disorders around the globe. Obesity creates an inappropriate or excessive accumulation of fats inside the artery lumen, which can lead to a variety of health issues, including coronary heart disease. Thus, increasing rate of obesity will drive demand for coronary microcatheters across the world over the coming years.