At 7.4% CAGR, the Asia Pacific Cardiac Microcatheter Market is projected to be worth US$ 114.76 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific drug delivery market was valued at US$ 80.47 million in 2023 and is expected to reach US$ 114.76 million by 2028, registering a CAGR of 7.4% from 2023 to 2028. High prevalence of cardiovascular diseases and growing use of percutaneous coronary intervention (PCI) for treating chronic total occlusions (CTO) are the critical factors attributed to the Asia Pacific drug delivery market expansion.        

Cardiovascular diseases include cerebrovascular disease, coronary heart disease, and rheumatic heart disease. Major lifestyle factors causing cardiovascular diseases and related difficulties are tobacco consumption, unhealthy diet, and physical inactivity, among others. The other risk factors related to cardiovascular diseases are high blood pressure, diabetes, and elevated cholesterol levels. Heart attacks and strokes are mainly caused by fatty deposits that block blood vessels, disrupting blood flow to the heart or brain. According to data on Accidental Deaths & Suicides in India, compiled by National Crime Records Bureau, the number of deaths due to heart attacks in India has remained at over 25,000 in the last four years since 2019 and over 28,000 in the previous three years. Further, in 2021, the number of heart attacks was 1.6%, and deaths due to heart attacks were 28,449 in 2021. Thus, increasing incidences of heart attacks contribute to the growth of the microcatheter market in India. Cardiovascular diseases such as coronary artery disease, heart attacks, and heart failure remain a leading cause of morbidity and mortality in Australia. The growing prevalence of these conditions has led to an increased demand for interventional cardiology procedures, including the use of microcatheters. According to a research article published by the National Library of Medicine in 2022, a two-stage multistate dynamic model was developed to predict cardiovascular disease from 2020 to 2029 for Australians aged 40–90. According to the model, 377,754 fatal cardiovascular events are expected between 2020 and 2029, along with 991,375 non-fatal cardiovascular events. By 2029, more than 1,061,756 Australians will suffer from cardiovascular diseases. Healthcare costs and productivity losses are estimated to exceed US$ 40.73 billion (AUD 61.89billion) by 2029 for cardiovascular diseases. Therefore, the high prevalence of cardiovascular diseases is boosting the cardiac microcatheter market.

On the contrary, complications and failures related to usage of cardiac microcatheters hampers the Asia Pacific Cardiac Microcatheter Market.  

Based on indication, the Asia Pacific cardiac microcatheter market is segmented into general peripheral vascular and coronary. The coronary segment held 57.9% share of Asia Pacific Cardiac Microcatheter Market in 2023, amassing US$ 46.58 million. It is projected to garner US$ 66.98 million by 2028 to expand at 7.5% CAGR during 2023–2028.

Based on end user, the Asia Pacific cardiac microcatheter market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment held 46.1% share of Asia Pacific Cardiac Microcatheter Market in 2023, amassing US$ 37.12 million. It is projected to garner US$  53.79 million by 2028 to expand at 7.7% CAGR during 2023–2028.

Based on country, the Asia Pacific drug delivery market  has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 26.6% share of Asia Pacific Cardiac Microcatheter Market in 2023. It was assessed at US$ 21.39 million in 2023 and is likely to hit US$ 31.13 million by 2028, exhibiting a CAGR of 7.8% during the forecast period.      

Key players dominating the Asia Pacific drug delivery market are Boston Scientific Corp; Integer Holdings Corp; Medtronic Plc; Merit Medical Systems Inc; Nipro Corp; OrbusNeich Medical Group Holdings Ltd; Teleflex Inc; Terumo Corp; and Tokai Medical Products Inc, among others.   

• In July 2021, Terumo Medical Corporation (TMC) announced AZUR Vascular Plug, the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter. The newest addition to Terumo's robust embolization portfolio is indicated for use to reduce or block the blood flow rate in peripheral vasculature arteries.

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