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Global Micro Guide Catheters Market: Demand Expected to Increase in Response to Soaring Prevalence of Cardiovascular Ailments, Says TMR

Press Release   •   Nov 29, 2016 05:55 EST

Micro guide catheters offer several advantages to their users over the conventional counterparts. With the healthcare industry realizing the benefits offered by these, the uptake is poised to rise at an incredible pace thus boosting the global market for micro guide catheters. In a report, titled “Micro Guide Catheters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” uncovers the consumption patterns and latest trends influencing the market. Furthermore, an in-depth analysis of the key factors encouraging the market and those that pose challenge to its trajectory is also provided in the report.

The report also includes objective qualitative and quantitative inputs by industry veterans aimed at providing the market stakeholders with better perspective of the prevailing dynamics and refined forecasts. Industry-leading analytical tools such as Porter’s five forces, market attractiveness analysis, value chain analysis, and SWOT analysis are conducted to ensure clients get the most current market data.

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Micro guide catheters are used in increasingly difficult lesions in human body through the most complex vessels, ducts, or cavities. These catheters are mostly used in neurovascular and cardiovascular procedures. They are designed using the glide technology and come with a hydrophilic coating in addition to a stainless steel braid and gold marker. In order to gain more traction, the leading companies have been focusing on the development of advanced micro guide catheters to offer surgeons with superior support and wire handling thus assisting them in the treatment of the most damaged lesions.

Primarily the demand for micro guide catheters is increasing due to the improved tensile strength and better reliability it provides. The growing awareness about the benefits that micro guide catheters is giving significant impetus to the market. Besides this, the flexibility and improved guidewire control offered by these catheters also serve as the key growth drivers of the market.

With an increasing number of companies foraying into the market through product launches and investment in research and development activities, the market is poised to grow at an exponential pace through the forecast period between 2016 and 2024. Currently, the use of micro catheters in the field of cardiology has greatly increased in response to the soaring prevalence of cardiovascular diseases around the world. Furthermore, the use of the medical device in the treatment of conditions such as vascular malformations, arterial embolism, pulmonary or venal embolism, hyper vascularized tumors and uterine fibroids has also significantly bolstered opportunities for the global micro guide catheters market.

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On the downside, risks associated with the materials used in the catheter and other functional concerns may threaten the market’s trajectory to an extent. Nevertheless, as potential technological advancements promise to mitigate these issues, the market is heading towards sustainable growth in the future.

Regionally, North America currently holds dominance in the global micro guide catheters market. The continuously rising investment in the research and development of advanced treatment methodologies and the presence of a sophisticated healthcare infrastructure have been aiding the expansion of the market in North America. Furthermore, the market is also expected to witness lucrative opportunities across Asia Pacific.

Some of the leading companies likely to benefit from the aforementioned trends are Terumo Europe N.V., Merit Medical Systems Inc., LuMend Corporation, ASAHI INTECC Company Limited, Lake Region Manufacturing Inc., Volcano Corporation, Boston Scientific Corporation, Micro Therapeutics Inc., and Covidien AG.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.