Micro Guide Catheters Market: - Driven By The Prevalence of Diseases and Positive Economic Factors Which are Favouring The Market Growth In The Coming Future

Pune, India, December, 2022/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Micro Guide Catheters Market Research Report - Forecast to 2030– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.

Micro Guide Catheters Market Highlights

The Micro Guide Catheters Market is projected to reach USD 78,200 Million by 2030 at 6.2% CAGR during the forecast period 2022-2030.

Catheterization is getting a lot of attention in present time and the scope for cauterization is expected to increase in coming future. Catheter is a thin hollow tube used to administer medicament in the body. They function as in fluid draining or administration of fluid or gas into the body. Catheter are made up of different polymer like nylon, polyurethane, silicone, elastomer, polyethylene terephthalate and many other. The catheter polymers should be chemically inert and unreactive to human body and chemicals. The latest trend in the market is growing demand for the interventional cardiac catheterization. Micro guide catheters are also used in the diagnosis of the various cardiac disease.

Further micro guide catheters has changed the scenario of the treatment with minimally invasive & invasive procedures in almost all the therapeutic areas. Increase in preference for minimally invasive procedures, increasing number of patients suffering from urological and cardiac problems, increasing geriatric population majorly drive the growth of the market. Moreover, increasing healthcare expenditure, and rising per capita income have fuelled the growth of the market. Due to increasing demand for these catheters, government is supporting the manufacturers and also new entrants which has opened up great opportunities for companies all across world. However, risks associated with the use of catheters such as infection and injury may hamper the growth of the market to an extent.

Moreover pricing is one of the most important factors for a product to withstand in the market. The importance is not given to what customer’s likes, but rather what they are ready to pay, which, in turn, generate maximum profit or revenue or market share of the overall industry. Currently, major companies are dropping down the cost of their micro guide catheters across the globe, especially, developing region like Asia Pacific, where individuals cannot afford the high cost of the products. On the other hand, the small and medium-size companies are focusing to grab local market with its low cost, which forces the major companies to reduce the price of their products. However, due to increasing prevalence of chronic diseases, government in developing countries are supporting the manufacturer for the development of the new and advanced devices.

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Regional Analysis

The global micro guide catheters market is segmented on the basis of regions: Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas accounted for the major share of the market owing to the huge patient population, well-developed technology, and high healthcare expenditure. Asia Pacific accounted for the second largest market, which is followed by Europe. Asia Pacific is the fastest growing micro guide catheters market owing to rapidly changing healthcare sector, huge patient pool in this region, and the presence of vast opportunities for the development of this market. Increasing government support for research & development, well-developed healthcare infrastructure, and presence of geriatric population have driven the European micro guide catheters market. However, the Middle East & Africa has the least share in the market owing to the presence of poor and slow developing countries, especially, in African region. The Middle East held the major share of the regional market due to well-developed infrastructure and high spending

Moreover prevalence of cardiovascular diseases across the globe is continuously increasing owing to rising geriatric population, increasing diabetic population, and changing the lifestyle of the people. Changing environmental and cultural & personal factors are contributing to the rise of cardiovascular diseases throughout the globe. Developing regions, such as Asia Pacific, is experiencing exceptionally high demand for cardiac catheters. However, many manufacturers are present in the market. Thus, it has created a balance between supply and demand. As cardiovascular disease is a long-term or lifelong disease with increasing healthcare expenditure may produce some of the imbalance in the market

There are various players operating in the global Micro Guide Catheters market, some of the major players are LuMend Corporation (US), Terumo Europe N.V. (Belgium), Covidien AG (Ireland), ASAHI INTECC Company Limited (Thailand),Boston Scientific Corporation (US), Volcano Corporation (US), Micro Therapeutics Inc. (India), Merit Medical Systems Inc (US), ACIST Medical Systems (US), Baylis Medical Medtronic (Canada), BrosMed Medical, Cordis Corporation (US), Cook Medical Inc. (US), Diasolve Ltd. (UK), Navilyst Medical Inc. (US) and others.