The Micro Guide Catheter is thin tube medical device inserted into the body for diagnosis or treatment and are used in the treatment of diseases like cardiovascular, neurovascular, and urology. The Global Micro Guide Catheter Market is anticipated to grow at a CAGR of 8 % during the forecast period of 2018 to 2023.
The catheter is thin tube medical device made from the high graded material. The catheter is then inserted into the body for treatment of various diseases or while performing surgeries. This process is called as catheterization. They are used in the treatment of diseases like cardiovascular, neurovascular, urology and many more. The catheter is inserted into the body for the administration of various liquid medication or gas for the treatment of diseases. They are made up of different polymers like nylon, polyurethane, silicone, elastomer, polyethylene terephthalate and many other. They are available in a variety of sizes which provides a greater option for the treatment. These catheter polymers are chemically inert and unreactive to human body and chemicals. The latest trend in the market is growing demand for the interventional cardiac catheterization. Micro guide catheters are also used in the diagnosis of the various cardiac disease.
Global Micro Guide Catheters Market – Competitive Analysis
Micro Guide Catheters are used in various cardiac treatment which signifies about 40% share of catheter market. The market for micro guide catheters is expected to grow rapidly as the catheter manufacturing companies are into inventing and launching new micro guide catheters. The market for micro guide catheters is characterized by the presence of several well-established and small players, the global market for micro guide catheters appears to be highly competitive and fragmented. Mergers, partnership, and collaboration of large players with moderate and small players in the market have increased the scope of new product launching.
For instance, Surefire Medical, Inc. has launched new Flexion Guiding Catheter in the market for interventional radiologists performing embolization procedures. This will help the company to increase its customer base in the market.
In October 2014, a company called Codman Neuro a part of DePuy Synthes Companies of Johnson & Johnson has launched 2 products EnvoyDA XB Distal Access Guiding Catheter and the 7F Envoy Guiding Catheter in Europe, the Middle East and Africa market for neurovascular procedures. This has helped the company to expand its product portfolio and strengthen its share in the micro guide catheters market.
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Global Micro Guide Catheters Market – Key Players
LuMend Corporation (US), Terumo Europe N.V. (Belgium), Covidien AG (Ireland), ASAHI INTECC Company Limited (Thailand),Boston Scientific Corporation (US), Volcano Corporation (US), Micro Therapeutics Inc. (India), Merit Medical Systems Inc (US), ACIST Medical Systems (US), Baylis Medical Medtronic (Canada), BrosMed Medical, Cordis Corporation (US), Cook Medical Inc. (US), Diasolve Ltd. (UK), Navilyst Medical Inc. (US).
Global Micro Guide Catheters Market – Dynamics
Growing Number of Medical Procedures Led By Urology Is the Prime Determinant of the Market
The explosive growth of medical procedures led by urology is the prime driver of the market. According to Centers for Disease Control and Prevention, 15 to 25 % of hospitalized patients receive catheters during their hospital stay. Gallbladder diseases affect a large number of people in the world. In the developed world, 10–15% of adults have gallstones. The rising number of rising number of comatose patients and chronic diseases are the demographic drivers of the market. Thus, a large and growing market is easily comprehensible. The rise in risk factors such as increased incidence of cardiovascular and urological diseases and sedentary lifestyle are fueling greater demand.
Technological and Product Development Is Expected To Drive Faster Adoption and Consecutive Market Growth
Technological advancements such as microbial coating catheter will lead to a market premium. Material developments such as silicon catheters also will yield greater growth due to superior properties. Major players are investing in research and innovative product development to improve existing structure and usage of the catheters resulting in three-way and four-way products.
Physical Discomfort and Infection Are the Prime Restraints Which May Hamper the Market Growth
The prime market constraints are discomfort and pain associated with the use of catheters and risk of infections. According to Centres for Disease Control and Prevention among hospitals acquired infections, approximately 75 % are associated with a catheter.
Global Micro Guide Catheters Market – Segmentation
To generate an accurate assessment of the global micro guide catheter market, the report has been segmented by types, application, end users, and regions.
Based on types, the market is segmented into flow directed micro guide catheters and over the wire micro guide catheters.
Based on application, the market is segmented into cardiovascular, neurovascular, urology and other
Based on the end user, the market is segmented into hospital, clinics, and others
Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa
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Global Micro Guide Catheters Market – Regional Analysis
North America is the top contributor to micro guide catheters owing to excellent reimbursement, the presence of advanced players and massive healthcare expenditure.
Europe accounts for the second largest market share owing to the adoption of new and advanced technologies led by Germany. The UK is expected to be the fastest growing micro guide catheters market in Europe.
The Asia Pacific is expected to be the fastest global market led by China and India owing to increasing prevalence of urologic diseases and rising healthcare expenditure. The Middle East and Africa are supposed to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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