Micro Guide Catheters Market Overview
The global micro guide catheters market is expected to grow at a CAGR of 7.9%. The micro guide catheters market is expected to witness a robust growth due to the sedentary life style of the people that are more prone for cardiovascular diseases or other diseases. Therefore the associated risk increases the usage of micro guide catheters and minimizes the risk of complications of post-surgery drive the market.
Growing Preference towards Minimally Invasive Surgical Procedures to Boost Growth of the Micro Guide Catheters Market
Using the minimally invasive procedures it has reported that patients are being quickly treated and are often discharged from the hospital the same day as compared to the traditional methods. By developing true integrated solutions, minimally invasive procedures are beginning to replace traditional surgical care in other medical domains as well, such as in oncology and cardiology. However, the risks associated with this treatment is quite less which has increased the preferences among the patients to opt for it thus driving the micro guide catheters market.
The other driving factors also includes increasing number of patients suffering from cardiac and neurovascular disorders, increasing geriatric population and technological advancements in micro-guide catheters.
Significant Product Recalls to Restrain the Growth of Micro Guide Catheters Market
Maintaining the product quality is essential for the manufacturers to avoid the product recalls. Medtronic’s voluntary has recalled many pipelines of the embolization devices, such as Alligator retrieval device, Ultraflow, marathon flow directed micro catheters, and X-celerator hydrophilic guidewires. This recall was conducted worldwide in 2016, due to potential separation and detachment of polytetrafluoroethylene (PTFE) coating on the parts of flow directed micro catheters.
The other factors also includes lack of skilled physicians and risk of infections may hamper the growth of the market.
North America Dominates the Micro Guide Catheters Market
North America is dominating the micro guide catheter market due to the high number of medical procedures being conducted through catheterization. The well- established healthcare infrastructure and patient compliance are the reasons for the high demand in North America region. The Asia Pacific region has constant healthcare sector improvements and large amount of population base represented by the Asia Pacific region is expected to drive the demand in Asia Pacific micro guide catheter market.
Key Developments in the Micro Guide Catheters Market
- Oct 2017: Boston Scientific Announces Agreement to acquire the Apama Medical and this acquisition is to strengthen company’s electrophysiology portfolio and expand into "single-shot" balloon pulmonary vein isolation treatments for patients with atrial fibrillation.
- Mar 2016: Boston Scientific Receives U.S. FDA approval for blazer open-irrigated catheter.
Micro Guide Catheters Market Major Players: Boston Scientific Corporation, Cardinal Health, Cook Medical, LuMend Corporation, Micro Therapeutics Inc., Philips N.V. and Volcano Corporation among others.
Micro Guide Catheters Market Report Summary
Micro Guide Catheters Market
(2015 – 2023)
Largest Market Share by Region
Mar 2016: Boston Scientific Receives U.S. FDA approval for blazer open-irrigated catheter
Boston Scientific Corporation, Cardinal Health, Cook Medical, LuMend Corporation and Micro Therapeutics Inc., among others.
Micro Guide Catheters Market offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023.
Reasons to Purchase the Micro Guide Catheters Market Report
- Current and future global micro guide catheters market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players
- 3-month analyst support along with the Market Estimate sheet (in Excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Micro Guide Catheters Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Micro Guide Catheters Market Dynamics
6.1.1 Increasing Number of Patients Suffering From Cardiac and Neurovascular Disorders
6.1.2 Increasing Geriatric Population
6.1.3 Technological Advancements in Micro-Guide Catheters
6.1.4 Growing Preference towards Minimally Invasive Surgical Procedures
6.2.1 Significant Product Recalls
6.2.2 Lack of Skilled Physicians
6.2.3 Risk of Infections May Hamper the Market
6.4 Key Challenges
7. Micro Guide Catheters Market Segmentation
7.1 By Product
7.2 By Therapeutic Area
7.3 By End-Users
7.3.2 Specialty Clinics
7.3.3 Ambulatory Surgery Centers
7.4 By Geography
7.4.1 North America Micro Guide Catheters Market (2018-2023)
18.104.22.168 United States Micro Guide Catheters Market (2018-2023)
22.214.171.124 Canada Micro Guide Catheters Market (2018-2023)
126.96.36.199 Mexico Micro Guide Catheters Market (2018-2023)
7.4.2 Europe Micro Guide Catheters Market (2018-2023)
188.8.131.52 France Micro Guide Catheters Market (2018-2023)
184.108.40.206 Germany Micro Guide Catheters Market (2018-2023)
220.127.116.11 United Kingdom Micro Guide Catheters Market (2018-2023)
18.104.22.168 Italy Micro Guide Catheters Market (2018-2023)
22.214.171.124 Spain Micro Guide Catheters Market (2018-2023)
126.96.36.199 Rest of Europe
7.4.3 Asia-Pacific Micro Guide Catheters Market (2018-2023)
188.8.131.52 China Micro Guide Catheters Market (2018-2023)
184.108.40.206 Japan Micro Guide Catheters Market (2018-2023)
220.127.116.11 India Micro Guide Catheters Market (2018-2023)
18.104.22.168 Australia Micro Guide Catheters Market (2018-2023)
22.214.171.124 South Korea Micro Guide Catheters Market (2018-2023)
126.96.36.199 Rest of Asia-Pacific
7.4.4 Middle East & Africa Micro Guide Catheters Market (2018-2023)
188.8.131.52 GCC Micro Guide Catheters Market (2018-2023)
184.108.40.206 South Africa Micro Guide Catheters Market (2018-2023)
220.127.116.11 Rest of the Middle East & Africa
7.4.5 South America Micro Guide Catheters Market (2018-2023)
18.104.22.168 Brazil Micro Guide Catheters Market (2018-2023)
22.214.171.124 Argentina Micro Guide Catheters Market (2018-2023)
126.96.36.199 Rest of South America
8. Company Profiles & Competitive Landscape
8.1 Boston Scientific Corporation
8.2 Cardinal Health
8.3 Cook Medical
8.4 LuMend Corporation
8.5 Merit Medical Systems, Inc.
8.6 Micro Therapeutics Inc.
8.7 Medtronic Plc
8.8 Philips N.V.
8.9 Terumo Europe NV
8.10 Volcano Corporation
* List Not Exhaustive
9. Future of the Micro Guide Catheters Market