A catheter is a thin tube often made of soft plastic material that can be embedded into the body. Catheters are alluded to as medical device and are recommended by specialists. Catheterization is a primary co-procedure performed with varied other medical procedures such as angioplasty, cardiac electrophysiology, and neurosurgery, wherein catheters are used. Micro guide catheter is built to approach highly complex lesions in the human anatomy through the most difficult vessels, ducts or cavities. The stainless-steel braid in Micro guide catheter improves the tensile strength and increases the reliability of the Micro guide catheter. This is an advantage of micro guide catheter over other conventional catheters.
The global micro guide catheter market is driven by increase in prevalence of cardiovascular diseases, urinary bladder, and kidney failures and growth in demand for minimal invasive surgeries.
One of the leading growth drivers of the global micro guide catheters market is increasing incidence of cardiovascular diseases. As indicated by the American Heart Association, approximately 17.3 million deaths annually are related to cardiovascular diseases, and the count is likely to rise to 23.6 million by 2030. Hence, staggering growth in patient pool that will require micro guide catheters is likely to offer numerous growth opportunities for product manufacturers.
Additionally, growth of the market is driven by the rapid growth in the geriatric population and the subsequent increase in the prevalence of peripheral vascular diseases. As indicated by United Nation the global population aged 60 years was recorded to 962 million in 2017and is expected to double by 2050, to reach nearly 2.1 billion. Geriatric populace is prone to different chronic illnesses attributable to structural changes in the ageing population, which will increase the demand for micro guide catheters. Moreover, growing prevalence of diabetes, increasing demand for minimally-invasive procedures, especially for peripheral arterial disease, lifestyle changes, and technological advancements are the factors contributing to the growth of the market.
However, the risk associated with catheter material and functioning, and product recalls can hamper the growth of micro guide catheter market. Major companies, like Medtronic and Stryker are recalling their micro guide catheter products from the market. Stryker‘s neurovascular division recalled for Boston Scientific‘s Guider guide catheter it distributes over issues with an incomplete seal that could lead to blood loss.
The report analyses the Micro Guide Catheters Market by product type, application, end user and geography.
By Product Type, the micro guide catheters market is categorised into Over-the-wire Micro Guide Catheter and Flow Directed Micro Guide Catheter. Over-the-wire Micro Guide Catheter (OTW Micro Guide Catheter) is a thin tubular Medical device inserted into the body for diagnosis or treatments of diseases like cardiovascular, neurovascular, and urology. OTW Catheters are widely used in cardiovascular applications such as peripheral and coronary interventions and neurovascular interventional applications. The high success rate associated with the use of these catheters further augments its uptake and demand, resultantly driving the segmental market growth.
The Micro Guide Catheters finds application in Cardiovascular, Neurovascular, Urology and others. Among aforementioned segment cardiovascular application held the significant market share owing to increasing incidence rates of cardiovascular diseases favouring the growth of cardiovascular interventional procedures are among the key factors accounting for its large share. According to data publishes by centre for disease control and prevention, heart disease is a second leading cause of death in USA. Every year about 735,000 Americans have a heart attack. Of these, 525,000 are a first heart attack and 210,000 happen in people who have already had a heart attack. There are large number of cardiovascular intervention surgeries have been executed in the U.S. alone and this in turn support the growth of the cardiovascular catheter market.
Furthermore, the key elements supporting the growth of urinary catheters are the high development rate incorporate the presentation of technological progressions in catheter such as the use of antimicrobial coatings on catheters and growing prevalence of urological diseases such as incontinence.
The global micro guide catheters market by end user segment includes hospitals, clinics and ambulatory surgical centre. Hospitals segment held the significant market share and anticipated to robust growth during the forecast period owing to the increase in the number of surgeries being performed at hospitals coupled with the availability of advanced healthcare facilities and increasing affordability of treatment due to the rising disposable income. Further, the demand of the ambulatory surgical centre is attributed to the various benefits offered by ambulatory centers such as short stay, cost-effectiveness, reduced risk of hospital acquired infections.
Geographically Micro Guide Catheters Market is studies across North America, Europe, APAC & Rest of the world.
Geographically, North America dominated the global catheter market. The largest market share in this region is attributable to the modern framework, advanced healthcare infrastructure, and moderately high volumes of catheterization in medical procedures. Besides, high healthcare expenditure and high patient awareness in this region is relied upon to help industry development over the coming years.
Asia Pacific is expected to enroll the highest increase in income during the forecast period. Growing penetration rates of urology and neurovascular devices and improving healthcare infrastructure are expected to the growth of the market. Rest of the world possesses high market potential for growth of catheters due to upsurge in governmental initiatives to improve healthcare facilities, increase in demand of Micro Guide Catheters for cardiovascular and urological applications.
Some of the leading players operating in the global Micro Guide Catheters Market are LuMend Corporation, Terumo Medical Corporation, Medtronic plc, ASAHI INTECC Company Limited, Integer Holdings Corporation, Boston Scientific Corporation, Volcano Corporation, Micro Therapeutics Inc., Merit Medical Systems Inc., and Cardinal Health among others. Key business strategies adopted by major players include innovations in product development with superior quality and aim to acquire worldwide expansion through enhancing distribution networks.
The global micro-guide catheters market is segmented on the basis of type, application, end user, and geography.
According to type, the market is bifurcated into over-the-wire micro-guide catheter and flow-directed micro-guide catheter. Based on application, the market is segmented into neurovascular, cardiovascular, urology, and others. The global micro guide catheters market by end user segment includes hospitals, clinics and ambulatory surgical centre. By region, it is analysed across North America, Europe, Asia-Pacific, and Rest of the World.
Some of the leading players operating in the global Micro Guide Catheters Market are LuMend Corporation, Terumo Medical Corporation, Medtronic plc, ASAHI INTECC Company Limited, Integer Holdings Corporation, Boston Scientific Corporation, Volcano Corporation, Micro Therapeutics Inc., Merit Medical Systems Inc., and Cardinal Health among others.
Why to buy this report: