The global micro guide catheter market size will likely achieve a USD 8.02 billion mark by 2034 with an estimated CAGR of 6.4%. The moderate progress will escalate the valuation from USD 4.32 billion measured in 2024.
The demand for less invasive treatments and surgeries is gaining traction. Due to this, innovative techniques and methods are developed, supporting medical professionals to treat chronic diseases. This industry trend supports the micro guide catheter market growth.
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The rising prevalence of chronic cardiovascular diseases generates a spurring demand for micro-guide catheters. Due to this, better growth prospects might be observed, probably increasing the micro guide catheter market size.
Technological advancements help medical professionals implement safe and efficient medical surgeries using catheters. Consequently, they gain traction in the market, spurring their demand.
With the help of various government initiatives and investments by large-scale organizations in the sector, the healthcare industry is growing. Due to this, many leading micro-guide catheter companies can expand, helping the industry progress.
Key Takeaways from the Market Study:
- Over-the-wire products will be preferred the most, justifying the highest market share of the segment in 2024, accounting for 56.8%.
- Cardiovascular interventions will be the most popular application, which will hold 41.6% of the competitive landscape’s space in 2024.
- The United States of America will forecast the highest advancement. The industry will progress at the highest CAGR of 6.9%.
- India will lead the Asia-Pacific region in terms of its advancement rate by registering a CAGR of 6.8% through 2034.
“Higher catheter costs reduce their target audience due to the affordability issue, affecting the micro guide catheter market growth,” says an FMI analyst.
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Competitive Landscape of the Micro Guide Catheter Market:
Leading micro guide catheter companies augment their product portfolio to gain a decisive competitive edge. They extensively use innovation to expand in the market. Apart from this, they use collaborations, mergers, partnerships, and acquisitions to gain more market space.
New entrants might be threatened due to the pressing force of key players. They can strategically ally with major players, gaining a better market position. The following key developments are ensuring the micro guide catheter growth:-
- In November 2022, ASAHI INTECC Company Limited acquired LAKE R&D Inc. The acquisition of shares of the latter firm made the organizational position of the business stronger in the competitive landscape in China.
- In May 2023, Terumo Europe N.V. constructed a new manufacturing unit in its Kofu factory, located in Yamanashi, Japan. The organization invested ¥ 52.2 billion, which will elevate the production quantum of the business.
Key Companies Profiled:
LuMend Corporation; Terumo Europe N.V.; Covidien AG; ASAHI INTECC Company Limited; Lake Region Manufacturing Inc.; Boston Scientific Corporation; Volcano Corporation; Micro Therapeutics Inc.
Micro Guide Catheter Industry – Key Segments:
By Product:
The market is segmented as over-the-wire and flow-directed micro guide catheters.
By Application:
The study on micro guide catheters by application include cardiovascular, neurovascular, and other applications.
By End User:
Analysis of micro guide catheter sales in hospitals/clinics and ambulatory surgical centres.
By Region:
Demand for micro guide catheters is studies in key countries across North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia and the Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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