Micro Catheter and Micro Guidewire Market Size, Trends and Growth Analysis by 2027

The global market for micro catheters and micro guidewires is projected to grow significantly, reaching approximately US$ 1,954.92 million by 2028, up from US$ 1,342.51 million in 2021. This growth represents a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028.

Several key factors are driving this market expansion, notably the rising prevalence of cardiovascular diseases (CVDs) and the increasing occurrence of neurovascular conditions. However, the anticipated shortage of skilled professionals in the field may pose challenges to market growth.

Cardiovascular diseases are expected to remain the leading cause of both morbidity and mortality worldwide. Common CVDs include heart failure, stroke, rheumatic heart disease, aortic aneurysm, and peripheral artery disease. The rise in CVD cases can be attributed to various lifestyle factors such as poor dietary choices, tobacco use, lack of physical activity, and excessive alcohol consumption. According to the World Health Organization (WHO), CVDs are the primary cause of death globally. In the United States, the Centers for Disease Control and Prevention (CDC) reported that a death occurs every 36 seconds due to CVDs, with approximately 850,000 heart attack cases recorded annually. Furthermore, the American Heart Association (AHA) indicated that around 121.5 million adults in the U.S., nearly half of the adult population, are affected by CVDs. In the UK, a report from the British Heart Association in 2020 noted approximately 600,000 deaths attributed to CVDs, with circulatory system diseases and chronic rheumatic heart disease being significant contributors to mortality. Additionally, the European Cardiovascular Disease Statistics 2019 revealed that CVDs are responsible for 3.9 million deaths annually in Europe, accounting for 45% of all deaths in the region and 37% in the European Union. A study published in the Journal of Lancet Public Health in 2020 estimated that CVDs lead to around 4 million deaths each year in China.

The market is categorized by product type into micro catheters and micro guidewires. In 2020, the micro catheter segment dominated the market and is expected to achieve the highest CAGR of 5.9% during the forecast period.

When segmented by indication, the micro catheters and micro guidewires market includes neurovascular, cardiology, urology, otolaryngology, oncology, and other categories. The cardiology segment held the largest market share in 2020, while the oncology segment is projected to experience the highest growth rate, with a CAGR of 6.3% during the forecast period.

In terms of end users, the market is divided into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment was the largest market segment in 2020 and is anticipated to grow at the highest CAGR of 6.1% throughout the forecast period.

To compile the report on the micro catheters and micro guidewires market, various secondary sources were utilized, including the Central Drugs Standard Control Organization, the Commission for Protection against Health Risks, Contract Research Organizations, and the Drug Safety and Effectiveness Network.