Europe Microcatheter Market

Europe Microcatheter Market Size (2023 to 2028)

The microcatheter market size in Europe is anticipated to be worth USD 1.36 billion by 2028 from USD 1.07 billion in 2023, growing at a CAGR of 4.88% from 2023 to 2028.

The growing prevalence of chronic diseases, including cardiovascular and neurovascular diseases is one of the major factors propelling the Europe microcatheter market growth. Factors such as lifestyle changes, alcohol consumption, stress and reduced physical activity contribute to the occurrence of these diseases. Cardiovascular diseases are a leading cause of mortality in the European region, with millions of lives lost annually. Cardiac catheterization is a procedure involving the insertion of thin tubes called catheters into blood vessels through the arm or neck that plays a crucial role in the diagnosis and treatment of heart problems such as coronary artery disease (CAD). These catheters facilitate ultrasound imaging and the insertion of devices to alleviate heart-related issues.

The rising adoption of minimally invasive surgeries further boosts the growth of the microcatheter market in Europe. These advanced surgical techniques utilize microcatheters to effectively remove blood clots and facilitate the placement of stents. The advantages of minimally invasive surgeries, such as reduced incisions, minimized blood loss and faster recovery times, have garnered significant preference, particularly among the older population and this trend has further propelled the market growth, offering patients a less invasive and more efficient treatment option.

The growing number of advancements in the development of various types of microcatheter devices contribute to the growth of the European market. Researchers are actively engaged in designing and manufacturing specialized microcatheters for diverse surgical applications. There is a growing focus on producing personalized catheters tailored to the unique requirements of individual patients. The increased research and development efforts, government support and a rise in product approvals further favor the regional market growth.

The growing number of applications of microcatheters in different surgical procedures, technological advancements in imaging and navigation systems used with microcatheters, rising demand for cost-effective and minimally invasive treatment options, increasing number of product approvals and launches in the microcatheter market and growing aging population and their preference for minimally invasive procedures further promote the growth of the European microcatheter market.

Stringent regulatory requirements and approval processes for new microcatheter devices, limited reimbursement policies for microcatheter procedures and high cost associated with microcatheter devices and procedures majorly hamper the growth of the European microcatheter market. Limited accessibility to advanced healthcare facilities in some parts of Europe, lack of skilled healthcare professionals trained in microcatheter procedures, potential risks and complications associated with microcatheter usage, challenges in maintaining sterility and preventing infections during microcatheter procedures and limited awareness among patients and healthcare providers about the benefits of microcatheter procedures further inhibit the growth rate of the European microcatheter market.

This research report on the European microcatheter market has been segmented and sub-segmented into the following categories:

By Product:

• Delivery Microcatheter
• Aspiration Microcatheters
• Diagnostic Microcatheters
• Steerable Microcatheters

By End User:

• Hospitals, Surgical Centers & Specialty Clinics
• Ambulatory Care Centers

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The Europe region occupies a prominent position in the global market in 2022 and is estimated to hold a substantial share of the worldwide market during the forecast period due to advancements in surgical procedures and increased healthcare expenditure by the European population. Government initiatives and approvals of microcatheter devices by the governments of European countries further contribute to European market growth. The growing number of awareness campaigns targeting patients and the availability of technically advanced products support the growth rate of the European market.

Germany had the major share of the European market in 2022 and is expected to grow at a notable CAGR during the forecast period owing to the presence of numerous manufacturing facilities. Manufacturers in Germany prioritize the development of cost-effective microcatheter devices, aligning with the market's demand for affordable solutions. Additionally, the availability of favorable reimbursement policies for microcatheter surgeries further fuels the market's growth in Germany.

The UK microcatheter market accounted for a considerable share of the European market in 2022 and is expected to grow at a healthy CAGR during the forecast period owing to the presence of numerous clinical and specialized hospitals. The increasing incidence of cancer cases in the UK drives the demand for microcatheter utilization. Microcatheter technology plays a crucial role in chemotherapy, a primary treatment modality for cancer. It is extensively employed in procedures related to renal cancer, lung disease, and other cancer-related treatments. Microcatheters enable healthcare professionals to access the inner parts of tumors, facilitating accurate assessment of cancer progression within patients' bodies.

KEY MARKET PARTICIPANTS:

Medtronic plc, Boston Scientific Corporation, Terumo Corporation, Cook Medical LLC and B. Braun Melsungen AG are a few of the major players in the European microcatheter market.