Global Micro Guide Catheters Market: Snapshot
The demand flow in the global micro guide catheter market is expected to increase over the coming years, owing to the growing scope of business generated by the larger players through successful venturing and formations of partnerships with other catheter manufacturing companies for the launch of new products. Micro guide catheters are available in a variety of tips, each of which can provide a greater scope of options to physicians when choosing the appropriate tip for specific treatment procedures. The selection of micro guide catheters often depends on the type and severity of the disease. The growth rate of this market is also attributed to factors including the increasing geriatric population, negative lifestyle changes, early adoption of advanced treatment procedures, and an increasing number of embolization procedures. Technological advancements, research and development in the medical device sector are also driving factors for the global micro guide catheters market.
The global micro guide catheter market is projected to expand at a CAGR of 7.5% from 2016 to 2024, and is expected to reach US$242.0 mn by the end of 2024.
Asia Pacific Continues to Show High Promise in Demand for Micro Guide Catheters
North America dominated the global micro guide catheters market, with a market share of over 38.8%, in 2015. This region’s leading share is attributed to the faster rate of technological advancements, the increasing geriatric population in the region, and the high prevalence of cardiovascular diseases. According to American Heart Association, cardiovascular disease is the leading global cause of death, accounting for 17.3 mn deaths per year and the number is expected to grow to more than 23.6 mn by 2030. These factors will fuel the demand for micro guide catheters in North America over the coming years. Europe accounted for a share of over 28.1% in 2015, owing to its exceptionally high volume of elderly patients. The prevalence of cardiovascular disease is also very high in key European countries. Germany for example, has one of the greater death rates caused by heart disease, higher than the U.S.
The Asia Pacific market for micro guide catheters is expected to expand at a an exceptionally fast CAGR from 2016 to 2024, due to rapid population growth, increasingly favorable healthcare insurance, and a growing awareness among people regarding available treatment options. Japan is already showing high acceptance rate of advanced technologies from the global micro guide catheters market. Long life expectancy and low healthcare cost will fuel the Japan micro guide catheter market.
Over-the-wire Instruments Grab Top Spot in terms of Demand
The over-the-wire micro guide catheter segment was the leading product type in the global micro guide catheters market for 2015 in terms of demand volume and revenue generations scope. It is expected to continue dominating the market from 2016 to 2024, owing to a faster rate of adoption of advanced technology and greater product stability. The over-the-wire catheter segment is followed by flow-directed catheters in terms of demand volume. The flexibility and low risk of hemorrhage will drive the growth rate of flow-directed micro guide catheters over the coming years. In terms of diseases, the cardiovascular disease segment accounts for leading share in demand due to an increasing number of cardiac surgeries, the increasing intake of alcohol and nicotine, and the growing levels of obesity. In terms of end users, this market is likely to continue being led by the hospital sector, which is expected to be growing at a CAGR of 7.4% from 2016 to 2024. Factors such as increasing insurance coverage, developed healthcare infrastructure and technologically advanced therapeutic procedures will add value to the hospital segment globally.
Leading players in the global micro guide catheters market so far, have included Cardinal Health, Asahi Intecc Co., Ltd, Cook Medical, Boston Scientific Corporation, Penumbra, Inc., Merit Medical Systems, Inc., Terumo Europe NV, Medtronic Plc, Integer Holdings Corporation, and Koninklijke Philips N.V.
Global Micro Guide Catheters Market: Overview
Micro Guide Catheters are used to treat difficult invasive lesion in hospitals, specialty clinics and ambulatory surgery centers etc. Micro guide catheters are designed with hydrophilic coating tip. The selection of micro guide catheter depends on the severity of lesion, location of lesion in human body. Micro guide catheters are available in different coating and different tip shape. The report on micro guide catheters market, analyzes the current and future prospects of the market. Micro guide catheters are used for treatment such as chronic total occlusion, brain aneurysm and other life style disease. The report consists of an executive summary that provides information about the products, its segments along with a market snapshot and comparative analysis by geography, in terms of revenue %, for 2015.
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of this market, along with porter’s analysis, value chain analysis, of the global market, has been provided in this report. Market revenue analysis for all the above mentioned segments has been provided for the forecast period of 2016-2024, considering 2015 as the base year, and 2014 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2016-2024. Market share estimations were based on in-depth analysis and study of products, and their features etc.
Global Micro Guide Catheters Market: Research Methodology
The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of key opinion leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.
This report provides in-depth analysis of the micro guide catheters market. The stakeholders for this report include companies involved in the manufacturing of micro guide catheters. Executive summary section is included snapshot on stakeholders in this report, which summarizes the market size, trends and competition in different regions. Market players and Market share analysis is analyzed to signify percentage share of the major players operating in this market. Furthermore, the report includes market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2015.
Global Micro Guide Catheters Market: Scope of the Study
Based on product type, the market has been segmented into over-the-wire micro guide catheter and flow directed micro guide catheter. Over-the-wire catheter is growing at a considerable CAGR from 2016 to 2014 due to it several advantages and application. Based on indication, the micro guide catheters are segmented into cardiovascular diseases, neurovascular diseases and others. The cardiovascular segment is expected to grow at a highest CAGR between 2016 and 2024. Based on end users, the market is segmented as hospitals, specialty clinics, and ambulatory surgery centers.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Italy, Spain, rest of Europe, China, Japan, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, and Rest of Middle East & Africa. The report also comprises list of major players in the market, their SWOT analysis, market share of these players in the Micro guide catheters Diagnostic market, key business strategies, product portfolios, and recent developments.
Global Micro Guide Catheters Market: Players Mentioned in the Report
Key market players profiled in this report include, Cardinal Health, Asahi Intecc Co., Ltd, Cook Medical, Boston Scientific Corporation, Penumbra, Inc., Merit Medical Systems, Inc., Terumo Europe NV, Medtronic Plc, Integer Holdings Corporation, Koninklijke Philips N.V. among others.
The Micro guide catheters Diagnostic market has been segmented as follows:
Micro Guide Catheters Market, by Product Type
Micro Guide Catheters Market, by Indication
Micro Guide Catheters Market, by End Users
- Specialty Clinics
- Ambulatory Surgery Centers
Micro Guide Catheters Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa