Micro guide catheters are used in complex interventional procedures like neuroangiography and intravascular neurosurgery to guide other devices into the brain and spinal vessels. Advancement in catheter technologies has resulted in development of more flexible and torqueable micro catheters with distal tip flexibility and steerability, enabling surgeons to navigate tortuous vascular anatomy with ease.
The global Micro Guide Catheters Market is estimated to be valued at US$ 227.91 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technological Advancement: One of the key trends driving growth in the Micro Guide Catheters Market is ongoing technological innovation. Leading players are developing novel micro catheters featuring advanced designs such as hydrophilic coatings, improved steerability and trackability, and distal atraumatic tips for safer access and navigation through tortuous paths without causing vessel damage. Hydrophilic coatings in particular reduce friction during catheter movement through vessels. Newer technologies are also enabling development of micro catheters compatible with various imaging modalities like CT, MRI, and angiography for enhanced guidance during procedures. Such technological enhancement of products is expected to further increase market penetration over the forecast period.
Segment Analysis
The global micro guide catheters market is dominated by the neurovascular segment. Neurovascular applications account for a prominent share in the market due to the increasing prevalence of neurological disorders such as strokes, brain aneurysms, and brain tumors. Micro guide catheters are widely used in neurovascular procedures like carotid artery stenting, coiling of intracranial aneurysms, and neurothrombectomies. The rising number of minimally invasive neurosurgeries performed globally is a key factor boosting demand in this segment.
Key Takeaways
The global micro guide catheters market is expected to witness high growth over the forecast period of 2024 to 2031. Growing geriatric population more susceptible to chronic diseases and rising preference for minimally invasive surgeries are projected to drive the demand. Global Micro Guide Catheters Market Size is estimated to be valued at US$ 227.91 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.
Regional analysis
North America currently dominates the global market and is expected to maintain its leading position during the forecast period. This can be attributed to advanced healthcare infrastructure, rising healthcare spending, growing prevalence of cerebrovascular and cardiovascular diseases. According to the American Heart Association, around 795,000 Americans suffer a stroke every year, with someone having a stroke every 40 seconds. Favorable reimbursement policies are also supporting the regional market growth.
Asia Pacific is anticipated to witness the fastest growth supported by growing medical tourism, increasing healthcare spending, rising incidence of target diseases. Countries such as China, India, Japan, and South Korea are expected to drive the regional market.
Key players
Key players operating in the micro guide catheters market are Zealand Pharma A/S, Eli Lilly and Company, Xeris Pharmaceuticals, Inc., Rezolute, Inc., Hanmi Pharm.Co., Ltd., Fresenius Kabi AG, Eiger BioPharmaceuticals.,Crinetics Pharmaceuticals, Inc., AmideBio,LLC, Jolly Healthcare, e5 Pharma,LLC, Merck & Co.,Inc., Novo Nordisk A/S, Amphaster Pharmaceuticals,Inc., USV Private Limited, Teva Pharmaceutical Industries Ltd.
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