ID: MRFR/MED/4620-CR | July 2019 | Region: Global | 188 pages
The Over-The-Wire Micro-Guide Catheter Market is expected to register a CAGR of 9.37%and is anticipated to reach USD 175.67 Million by 2023. 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.
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 Size, by Application, 2017 (USD Million)
Source: MRFR Analysis
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.
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
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
Over-the-Wire Micro-Guide Catheter Market, by Application
Over-the-Wire Micro-Guide Catheter Market, by End User
Over-the-Wire Micro-Guide Catheter Market, by Region
Available Additional Customizations
Over-the-Wire Micro-Guide Catheter Market segment by Type
Frequently Asked Questions (FAQ) :
over-the-wire micro-guide catheter market projected to grow at approximately 9.37% CAGR during the assessment period (2020-2027).
The valuation of the global over-the-wire micro-guide catheter market is estimated to increase to USD 175.67 MN by the end of 2023.
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.
Global Over-the-Wire Micro-Guide Catheter Market: Competitive Landscape
The top market players in the global over-the-wire micro-guide catheter market are Terumo Corporation, Medtronic, Boston Scientific Corporation, Koninklijke Philips N.V., Teleflex, and others.
The Terumo Corporation holds a share of 13.8% in the global over-the-wire micro-guide catheter market. Terumo Corporation which is a Tokyo based company and is among one of the world’s largest medical device manufacturer. The company is involved in manufacturing, developing and marketing solution based, high-quality products, medical devices which have a broad range of applications. The company is currently operating in over 160 countries worldwide.
Medtronic accounts for the second largest market share with an 11.4 percent share in the global over-the-wire micro-guide catheter market. Medtronic is among one of the global healthcare solutions company committed to improving the lives of people through medical technologies, services, and solutions. The company also has a wide geographic presence, With the workforce of 50,000+ employees.
Boston Scientific Corporation transforms lives through innovative medical solutions that improve the health of patients around the globe. Boston Scientific holds a 10.1% market share in the global over-the-wire micro-guide catheter market. The company offers a wide range of products which includes featured products, by medical specialty among others.
Koninklijke Philips N.V. is another leading health technology company that is focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment, and home care. Koninklijke Philips N.V currently holds a 9.4% market share in the global over-the-wire micro-guide catheter market.
Teleflex which among the important market player in the over the wire guide catheter market accounts for 8.7% of the market share. Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. The company’s portfolio is diverse, which includes fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. The company has 12,000+ employees worldwide. The company is committed to providing the highest quality products and services that delight customers and also minimize any negative impact on the environment.
The global over-the-wire micro-guide catheter market is an enormous market, and has a large number of companies that are involved in the growth of such a huge market. However, some of the big companies have captured a significant share of the global market taking advantage of their strong position in the business and their presence in a number of countries and regions all across the world. The major strategy implemented by the players in this market is of continuous innovation and development of the new and better products to capture maximum market share and succeed in the market.