The Over-the-wire Micro-Guide Catheter Market report titled “Over-the-wire Micro-Guide Catheter Market Research Report – Forecast to 2023” recently added to the Huge database of Market Research Future, the report gives in-depth analysis by size, share and revenue in-depth.
Over-The-Wire Micro-Guide Catheter Market is projected to surge at a CAGR of 9.37% between 2018 and 2023. Increased preference for minimally invasive surgical procedures is driving the demand for micro-guide catheters globally. Minimally invasive cardiac surgeries are less disruptive and traumatic for the human body. Microcatheters are superior devices that are quickly replacing traditional catheter systems. These new multipurpose catheters are used for fluid or gas administration, fluid drainage, and organ access for surgery.— The Global
Micro-guide catheters have transformed treatments that involve minimally invasive procedure. The healthcare sector has been reeling under the pressure of reducing invasiveness of surgical procedures. The sector continues to look for solutions that can minimize surgical insertions and deep cuts. This is expected to create new growth avenues for the global over-the-wire micro-guide catheter market in near future. By the end of 2023, the market is expected to surpass a valuation of USD 175 Mn.
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The increasing number of patients suffering from cardiac problems coupled with the rising global geriatric population is creating greater requirements for micro-guide catheters. According to the American Heart Association and Stroke Statistics (2017), about 92.1 million American adults are living with cardiovascular diseases and stroke episodes. In 2015, cardiovascular diseases accounted for 17.9 million deaths, the figure is expected to jump to 23.6 million by 2030.
Major Players in Over-the-wire Micro Guide Catheters Market
Boston Scientific Corporation, Merit Medical Systems Inc, Terumo Europe N.V., Koninklijke Philips N.V, Teleflex Incorporated, Enki – Microtubes, ASAHI INTECC Company Limited, Cook Medical, Medtronic plc, Integer Holdings Corporation, Penumbra Inc, Cardinal Health, and DePuy Synthes.
Based on application, the global market for over-the-wire micro-guide catheter has been segmented into neurovascular and cardiovascular. The neurovascular segment is further sub-segmented into intracranial aneurysms and percutaneous neurointerventional procedures. The cardiovascular segment is further sub-segmnted into angiography, angioplasty and peripheral stenting. The cardiovascular segment currently account for the largest market share and will remain highly profitable over the assessment period. Over-the-wire micro-guide catheters are used in several cardiovascular procedure including ablation, coronary angiography or angiogram, angioplasty, peripheral stenting, transcatheter aortic valve replacement and transcatheter atrial septal defect (ASD) repair.
By end-user, the market has been segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes and others. The hospitals and clinics segment holds the top position and is expected to remain highly lucrative over 2023. Hospitals and clinics are the largest end-user of over-the-wire micro guide catheters. Microcatheters have become a crucial medical instrument in hospitals and clinics. Increased awareness about minimally invasive procedures is driving the adoption of such instruments in hospitals and clinics. During the forecast, the ambulatory surgical center (ASC) segment is expected to witness a relatively higher CAGR owing increasing popularity of ASCs in various parts of the world.
North America and South America collectively lead the global market for over-the-wire micro-guide catheters. Increased prevalence of coronary heart disorders and cardiovascular diseases in the U.S., Canada and several other South American countries is creating market opportunities for microcatheters in the region. Currently, Europe holds the second largest share of the global market and is expected remain an attractive destination for market players over 2023. Rising disease incidences associated with obese and high healthcare expenditure per capita is providing an impetus to the region’s market. The number of Europeans suffering from cardiovascular diseases has also grown substantially in recent years. According to the 2017 statistics presented by the European Society of Cardiology, there were more than 6 million new cases of cardiovascular diseases reported in the European Union.
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Release ID: 377563