Global Deflectable Catheters Market: Overview
Deflectable catheters are mainly utilized by the medical and healthcare professionals due their high utility as a drug delivery device or as a therapeutic device. It helps in the blood navigation across heart tissues and blood vessels that are under extensive stress. The growing demand for minimally invasive cardiovascular surgeries and their capacity to access various anatomical parts of the human body for the biopsy research is driving the growth of the global deflectable catheters market. In addition to this, increasing investments in the field of treatment of cardiovascular disorders has also opened up new avenues for the growth of the global deflectable catheters market.
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Global Deflectable Catheters Market: Notable Developments
Some of the recent notable developments in the global deflectable catheters market are listed below:
- In August 2019, Boston Scientific Corporation announced that the company has completed the takeover of BTG Plc. This acquisition will help Boston Scientific to strengthen its development and commercialization capacities of products that are used in minimally invasive surgeries for the treatment of cancer, vascular, and cardiovascular diseases. It will also help in bolstering the specialty pharmaceuticals segment of the company.
- In July 2019, BioCardia Inc. a prominent name in the global deflectable catheters market announced that the company has agreed to enter in a strategic partnership with AstraZeneca. The objective of the partnership is to develop comprehensive solutions for the regenerative therapies of cardiovascular disorder. Both the companies will extensively work on betterment and efficiency of BioCardia’s Helix™ biotherapeutic delivery catheters.
Global Deflectable Catheters Market: Drivers and Restraints
There are numerous factors that are influencing a positive growth of the global deflectable catheters market. The biggest driving factor of the global market is its use in minimally invasive surgeries such as electrophysiology and coronary interventions. There have several upgrades in the product over the years due to technological advancements. One key development is the deflection of catheter tip at a certain angle. It has helped massively in the treatment of cardiovascular disorders and thus has a growing demand. This has ultimately helped in the development of the deflectable catheters market.
Moreover, there has been a considerable rise in the number of cardiovascular disorders across the globe. In a recent study Center for Disease Control (CDC), the mortality rate in the US for patients suffering from heart conditions is equivalent to 1 death in every four people. Such high prevalence has naturally helped in the pushing up the demand for better treatment methods and medical equipment. It has ultimately helped in the development of the global deflectable catheters market.
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Global Deflectable Catheters Market: Geographical Outlook
The global deflectable catheters market is divided into five key geographical regions for the better understanding of its working dynamics. These regions are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these regions, the global market is primarily dominated by North America region. The region accounted for more than one third of the market in recent years and is expected to continue to lead over the course of the given forecast period. The development of the deflectable catheters market in North America is influenced by the increasing prevalence of cardiovascular diseases.
Next in line is the Europe market for deflectable catheters. This market too shares the similar driving factors as those are of North America. Additionally, strict governmental guidelines about the use of effective treatment methods are expected to drive the Europe market.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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