The micro guide catheters market is expected to witness robust growth due to the sedentary lifestyle of the people that are more prone to cardiovascular diseases or other diseases. In minimally invasive surgery, doctors use various methods to operate with minimal damage to the body as opposed to traditional open surgery. In general, minimally invasive surgery is associated with less pain, a shorter hospital stay, and fewer complications. By developing integrated solutions, minimally invasive procedures are beginning to replace traditional surgical care in other medical domains as well, such as in oncology and cardiology. Minimally invasive surgery, with the help of micro guided catheters, has the ability to treat arteries, veins and vascular bypass grafts. The demand for this surgery is increasing at a very high rate, due to several factors that include higher accuracy rate with relatively reduced pain, and less infections. The risks associated with this treatment are quite less which has increased the preferences among the patients and is thus driving the micro guide catheters market.
Key Market Trends
Hospital/Clinics Segment is Expected to Dominate the Market over the Forecast Period
Based on end-user, it is segmented into hospitals/clinics and ambulatory surgical centers. The factors attributing to the dominance of this segment are a larger patient pool, enhanced healthcare infrastructure across the globe, availability of skilled technicians, and affordability. The rise in patient pool, due to substantial growth in the geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, is expected to enhance revenue generations of the segment. Hence, the high accessibility and affordability of hospitals and clinics, are expected to attract a large patient population. These factors are expected to fuel market growth in the forecast period.
North America is Expected to Maintain Largest Share in the Micro Guide Catheter Market
The micro guide catheter market holds the largest share in the North America region due to proper infrastructure and increasing patient compliance to the new technologically advanced treatment. Rapid increase in the patient pool in the United States tends to increase the demand for these catheters. According to the Health Library, it is estimated that about 84 million people in the United States suffer from some form of cardiovascular disease, causing about 2,200 deaths a day, averaging one death every 40 seconds. Furthermore, the high volume of medical procedures is carried out through catheterization in the United States each year and the early adoption of the technology in the geographical region is expected to drive the growth of the market.
The global players into the micro guide catheter market are Asahi Intecc Co. Ltd, Boston Scientific Corporation, Cardinal Health, Inc., Cook Group Incorporated, Integer Holdings Corporation, Medtronic PLC, Merit Medical Systems, and Terumo Corporation.
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