Micro Guide Catheters Market is Growing at an Extensive CAGR of 8% During Forecast to 2023

Market Overview:

Catheters are used in the treatment of diseases like Cardiovascular, Neurovascular, Urology and many more.  A catheter is inserted into the body for the administration of liquid medication or gas during the treatment of diseases.

Additional factors substantiating the market growth include growing prevalence of cardiovascular and urological diseases fuelled by the heady or sedentary lifestyle, reasoning the augmented demand for the product.

The Micro Guide Catheters Market is growing pervasively; mainly due to the rapid technological advancements. According to a recent study report published by the Market Research Future (MRFR), the booming global Micro Guide Catheters market is expected to gain prominence over the forecast period.  The Market is forecasted to demonstrate a colossal growth by 2027, with a staggering CAGR of 8 % between 2017 and 2023, surpassing its previous growth records in terms of value.   

The traction for micro guide catheters is gaining momentum currently as procedures that involve the use of minimally invasive device. The market is boosted by the growing incidence of cardiovascular and urological diseases globally. The market for micro guide catheters is expected to expand substantially as the catheters guarantee a great deal of safety and efficiency in the high-risk procedures. The reduced recovery time ensured by micro guide catheters is expected to further impel the development of the market in the forecast period.

Key Players:

·         Terumo Europe N.V.

·         LuMend Corporation

·         Covidien AG

·         Boston Scientific Corporation

·         Asahi Intecc Company Limited

·         Volcano Corporation

·         Merit Medical Systems Inc

·         Micro Therapeutics Inc

·         ACIST Medical Systems

·         BrosMed Medical

·         Baylis Medical Medtronic

·         Cordis Corporation

Micro Guide Catheters Market   - Competitive Analysis

The global market for micro guide catheters appears to be fiercely competitive with several well-established and small players operating in the market. These players incorporate collaboration, acquisition, expansion, strategic partnership, & technology launch. Substantial investments are transpired in clinical trials and development. These key players compete based upon pricing and reputation. 

The Market demonstrates high growth potential which is likely to attract several new entrants to the market, resulting in intensified competition. Key players invest heavily in R&D activities and clinical trials to develop effective Micro Guide Catheters. These players are holding the largest market share while other small and medium-sized companies are also growing. Manufacturers strive to develop Micro Guide Catheters with advent technology and unrivaled design and features. 

Micro Guide Catheters Market   - Segments

·         The micro guide catheters market is segmented on the basis of types, application, end-user, and region.

·         On the basis of types, the market is segmented into over the wire micro guide catheters, and flow-directed micro guide catheters.

·         The segmentation on the basis of application consist of neurovascular, cardiovascular, urology and other.

·         On the basis of end user, the micro guide catheters market consists of clinics, hospital, among others.

·         The regions covered in the market are Asia Pacific, Europe, North America, and the Middle East and Africa.

Micro Guide Catheters Market   - Geographical Analysis 

The regions included in the micro guide catheter market globally are Europe, North America, Asia Pacific, and the Middle East and Africa. Owing to the high volume of medical procedures conducted through catheterization in the North American region has made the region a leader in the micro guide catheter globally. The accessibility to infrastructure and technology has provided a significant boost for the expansion of this market in the European and North American region.