April 18, 2024

The Global Micro Guide Catheters Market Growth Is Driven By Increasing Interventional Procedures

The micro guide catheters market plays a vital role in supporting minimally invasive interventional procedures. Micro guide catheters are ultra-thin catheter devices that are maneuverable and compatible with a wide range of endovascular treatment procedures. They provide precision guidance to access complex vascular areas and deliver therapeutic devices to the target location. Some key advantages of micro guide catheters include their small size which allows for navigation through tortuous vessels and decreased trauma to delicate vasculature. They also offer high pushability and torqueability for accurate placement of treatment devices. Micro guide catheters are compatible with neurovascular, cardiovascular and peripheral vascular interventions for conditions like aneurysms, occlusions and stenosis.

The global micro guide catheters market is estimated to be valued at US$ 227.91 million in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period from 2024 to 2031

Key Takeaways
Key players: Key players operating in the micro guide catheters market are Zealand Pharma A/S, Eli Lilly and Company, Xeris Pharmaceuticals, Inc., Rezolute, Inc., Hanmi Pharm.Co., Ltd., Fresenius Kabi AG, Eiger BioPharmaceuticals.,Crinetics Pharmaceuticals, Inc., AmideBio,LLC, Jolly Healthcare, e5 Pharma,LLC, Merck & Co.,Inc., Novo Nordisk A/S, Amphaster Pharmaceuticals,Inc., USV Private Limited, Teva Pharmaceutical Industries Ltd.

Zealand Pharma A/S, Eli Lilly and Company and Xeris Pharmaceuticals, Inc. dominate the global micro guide catheters market with their extensive product portfolios and global distribution networks.

Growing demand: Increasing prevalence of cardiovascular, neurovascular and peripheral vascular diseases is driving the demand for minimally invasive interventions which utilizes micro guide catheters.

Global expansion: Leading market players are focusing on geographic expansion strategies to tap into emerging markets and strengthen their global footprint. Several companies are also engaging in acquisitions to enhance their product offerings.

Market Key Trends
One of the key trends in the micro guide catheters market size is the ongoing technological innovation towards designing smaller, more trackable and torqueable devices that can efficiently navigate complex vasculature. Companies are investing heavily in R&D to develop next generation micro guide catheters incorporated with innovative steering mechanisms and coating technologies for improved handling and advanced navigation capabilities. This allows physicians to target difficult to access areas with greater control and precision. Such product advancements are expected to positively impact the market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: Low setup costs however presence of big players makes it difficult for new players.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes.

Bargaining power of suppliers: Suppliers have low bargaining power due to presence of many suppliers.

Threat of new substitutes: Moderate threat as substitute products are available in market.

Competitive rivalry: High as major players compete on the basis of technology and innovations.

Geographical Regions

North America region dominates the micro guide catheters market in terms of value. The presence of developed healthcare infrastructure and adoption of advanced technologies drive the market growth in this region.

Asia Pacific is expected to witness the fastest growth during the forecast period. Rising healthcare expenditure, growing aging population, and increasing cases of chronic diseases like cardiovascular disorders are fueling the demand for micro guide catheters in emerging Asia Pacific countries.

Geographical Regions

North America region dominates the micro guide catheters market in terms of value. The presence of developed healthcare infrastructure and adoption of advanced technologies drive the market growth in this region.

Asia Pacific is expected to witness the fastest growth during the forecast period. Rising healthcare expenditure, growing aging population, and increasing cases of chronic diseases like cardiovascular disorders are fueling the demand for micro guide catheters in emerging Asia Pacific countries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it