Over-The-Wire Micro-Guide Catheter Market Overview
The Over-The-Wire Micro-Guide Catheter Market is expected to reach USD 147.59 Million by 2030 at 9.10% CAGR during the forecast period 2022-2030. Over-the-wire micro-guide catheters are in-vitro tests that use antigen-antibody reaction to detect the concentrations of a wide range of biological substances in the blood and other fluids. Over-the-wire micro-guide catheters are extensively used in several areas of pharmaceutical research such as therapeutic drug monitoring, disease diagnosis, clinical pharmacokinetics, and bioequivalence studies in drug discovery, among others.
Growing preference towards minimally invasive surgical procedures, technological advancements in over-the-wire micro-guide catheters, an increasing number of patients suffering from cardiac and neurovascular disorders, rising geriatric population are the major drivers propelling market growth. However, the risk of infections, lack of skilled physicians may constrain the growth of the market.
Market Dynamics
Growing preference for minimally invasive surgical procedures. For instance, according to the American Heart Association and Stroke Statistics (2017), about 92.1 million American adults are living with cardiovascular diseases and strokes, and cardiovascular diseases are the significant causes of death globally which accounted for 17.9 million deaths per year in 2015. The number is expected to reach more than 23.6 million by 2030. Additionally, technological advancements in over-the-wire micro-guide catheters, an increasing number of patients suffering from cardiac and neurovascular disorders, and increasing geriatric population are likely to support market growth. On the other hand, risk of infections, lack of skilled physicians is anticipated to hamper the market growth.
Over-the-Wire Micro-Guide Catheter Market by Application 
Source: MRFR Analysis
Segmentation
The over-the-wire micro-guide catheter market has been segmented into application and end user. Based on application, the market has been segmented into cardiovascular, neurovascular, and others. The cardiovascular segment has been further bifurcated into angiography, angioplasty, peripheral stenting, and others. The neurovascular segment has been further segmented into intracranial aneurysms, percutaneous neuro-interventional procedures, and others. By end user, the market has been segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others. The cardiovascular segment accounted for a market value of USD 59.60 million in 2017.
Key Players
The prominent players in the over-the-wire micro-guide catheter market are Terumo Corporation, Medtronic, Boston Scientific Corporation, Koninklijke Philips NV, and Teleflex.
Some of the key strategies followed by the players operating in the over-the-wire micro-guide catheter market were continuous innovation and development of the new and better products to beat the opponents and strive in this big market.
Asia-Pacific Over-the-Wire Micro-Guide Catheter Market Share, by Country, 2017 (%) 
Source: MRFR Analysis
Regional Analysis
The over-the-wire micro-guide catheter market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is estimated to be the most significant over-the-wire micro-guide catheter market during the forecast period. This is attributed to the increasing occurrences of coronary heart diseases, neurovascular diseases, hypertension, and other metabolic disorders, raising awareness for health, advancement in technologies, good healthcare infrastructure, and favorable reimbursement policies. The European market for the over-the-wire micro-guide catheter is expected to be the second-largest during the forecast period. This can attribute to the rising occurrences of cardiovascular and neurovascular diseases in the geriatric population, government initiatives to boost up clinical research and development, preference of minimally invasive surgery,
Asia-Pacific is estimated to be the fastest-growing market due to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, and, favorable insurance and reimbursement policies drive the over-the-wire micro-guide catheter market. Moreover, in the Asia-Pacific region, China accounted for a market share of 20.20% in 2017. Furthermore, the market in the Middle East & Africa is expected to witness steady growth due to lack of proper healthcare infrastructure, unaffordability of high-cost surgeries, and lack of skilled healthcare professionals
Key Updates
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In May 2016, Merit Medical Systems signed a distribution deal with PIOLAX Medical Devices, Inc., Japan for a product known as Labyrinth Noah Micro Guide Wire in Japan. With this collaboration, Merit Medical became a global distributor (excluding Japan) of micro-guide wires
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InAugust 2017, Koninklijke Philips NV completed the acquisition of The Spectranetics Corporation, which had a considerable market in vascular intervention.
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InOctober 2017, Teleflex acquired NeoTract, Inc. (NeoTract), a medical device company that has developed and commercialized the UroLift System, a minimally invasive medical device for treating lower urinary tract symptoms due to benign prostatic hyperplasia or BPH.
Market Segmentation
Over-the-Wire Micro-Guide Catheter Market, by Application
- Cardiovascular
- Angiography
- Angioplasty
- Peripheral Stenting
- Others
- Neurovascular
- Intracranial Aneurysms
- Percutaneous Neuro interventional Procedures
- Others
- Others
Over-the-Wire Micro-Guide Catheter Market, by End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Research & Academic Institutes
- Others
Over-the-Wire Micro-Guide Catheter Market, by Region
- Americas
- North America
- South America
- Europe
- Western Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Available Additional Customizations
Over-the-Wire Micro-Guide Catheter Market segment by Type
Intended Audience
- Medical device manufacturers and distributors
- Government research organizations
- Hospitals and clinics
- Regulatory agencies
- Pharmaceutical companies
Over-the-wire Micro-Guide Catheter Market Highlights:
Frequently Asked Questions (FAQ) :
over-the-wire micro-guide catheter market projected to grow at approximately 9.10% CAGR during the assessment period (2022-2030).
The valuation of the global over-the-wire micro-guide catheter market is estimated to increase to USD 147.59 Million by the end of 2030.
Increasing occurrences of neurovascular diseases, coronary heart diseases, hypertension, and other metabolic disorders and rising awareness for health are major tailwinds pushing the growth of the global over-the-wire micro-guide catheter market.
North America holds the largest share in the global over-the-wire micro-guide catheter market, followed by Europe and the Asia Pacific, respectively.
Cardinal Health, Enki – Microtubes, DePuy Synthes, Penumbra Inc., Koninklijke Philips N.V, Terumo Europe N.V., Merit Medical Systems Inc., Integer Holdings Corporation, Teleflex Incorporated, Boston Scientific Corporation, Cook Medical, Medtronic plc., and Asahi Intecc Company Limited, are some of the top players operating in the global over-the-wire micro-guide catheter market.
