by Micro guide catheters are small and flexible tube-like devices that are used during minimally invasive surgeries and procedures to guide the insertion of stent, balloon or other medical devices into small blood vessels in the body. These catheters provide physicians with precise navigation during procedures related to neurovascular, cardiovascular and peripheral vascular diseases. With their atraumatic tip design and shaft flexibility, micro guide catheters aid in accessing tortuous anatomies and treating complex lesions. Rising cases of cardiovascular diseases, growing geriatric population and increasing preference for minimally invasive surgeries are fueling the demand for micro guide catheters.
The global Micro Guide Catheters Market is estimated to be valued at US$ 197.83 in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing adoption of minimally invasive surgeries is expected to propel the demand for micro guide catheters over the forecast period. Minimally invasive procedures cause less discomfort to patients and enable faster recovery with negligible scarring and lower risk of surgical site infections. Furthermore, the growing number of angiography procedures worldwide is another key factor driving the micro guide catheters market. According to the Center for Disease Control and Prevention (CDC), approximately 8 million angiography procedures are performed each year in the U.S. Angiography procedures employ micro guide catheters to insert stent or balloon catheter for treating arterial blockages. Rising economic burden of cardiovascular diseases especially in developing nations has prompted healthcare providers to encourage minimally invasive treatments, hence augmenting market growth.
Segment Analysis
The global Micro Guide Catheters Market can be segmented based on type, end use and geography. Based on the type, the market is bifurcated into stiff and over-the-wire micro guide catheters. The stiff micro guide catheters segment dominates the market owing to high preference of physicians for their rigidity and steerability. Based on end use, the market is categorized into hospitals, specialty clinics and ambulatory surgical centers. Hospitals hold major share of the market as they perform a large volume of minimally invasive surgeries and angiographic procedures.
PEST Analysis
Political: Governments across countries are offering favorable reimbursement policies for minimally invasive procedures involving micro guide catheters to increase accessibility for patients. This is driving market growth.
Economic: Rising healthcare expenditures and increasing cases of cardiac diseases are propelling demand for micro guide catheters from hospitals and specialty clinics globally.
Social: Growing awareness about benefits of minimally invasive surgeries such as less pain and quick recovery time is encouraging patients to opt for procedures using micro guide catheters.
Technological: Key players are focusing on developing innovative micro guide catheters with enhanced steerability and trackability to facilitate complex surgeries. Advancements in material sciences are also aiding product improvements.
Key Takeaways
The Global Micro Guide Catheters Market Size is expected to witness high growth.
Regional analysis: North American region dominates the market and is expected to continue its dominance over the forecast period owing to rising prevalence of cardiac diseases and new product launches. The Asia Pacific region is anticipated to grow at fastest pace during the forecast period.
Key players operating in the Micro Guide Catheters Market are Boston Scientific Corporation, Terumo Corporation, Medtronic, ASAHI INTECC Company, Merit Medical Systems, Stryker, Baylis Medical, Epicor Medical, Cordis, and B. Braun.
Boston Scientific holds majority market share owing to its diverse product portfolio and strong distribution network across key regions. Cordis and Medtronic are other leading players due to their heavy focus on R&D activities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
