Micro Guide Catheters Market

Global Micro Guide Catheters Market Size (2024 to 2029)

The global micro guide catheters market size was valued at USD 197.83 Million in 2023. The global market is expected to reach USD 303.6 Million by 2029 from USD 212.4 Million in 2024, growing at a CAGR of 7.4% from 2024 to 2029.

MARKET DRIVERS

The growing prevalence of cardiovascular diseases is a notable factor driving the growth of the micro-guide catheters market.

The population suffering from CVDs is growing rapidly worldwide. CVDs majorly affect the heart and blood vessels. Coronary artery disease, heart failure, and arrhythmias are some of the major cardiovascular diseases and cause significant mortality worldwide every year. The rising incidence of CVDs is majorly due to factors such as the rising adoption of sedentary lifestyles among people and unhealthy diets and the increasing aging population. WHO says cardiovascular diseases resulted in 17.9 million deaths worldwide in 2019. According to the data published by the Centers for Disease Control and Prevention (CDC), 1 in every 4 deaths is due to CVDs in the United States. Micro-guide catheters are primarily used in the diagnosis and treatment procedures of CVDs and to guide other medical devices such as stents and balloons and further assist healthcare professionals in performing minimally invasive surgeries such as angioplasty and stenting. Such procedures help restore the blood flow to the affected area of the heart and thus, limit the risk of complications such as heart attack and stroke and improve the quality of life of the patients.

The rising demand for minimally invasive surgeries worldwide is another key attribute driving the micro-guide catheters market growth.

Minimally invasive surgeries involve small incisions on the skin instead of bigger incisions. The adoption of minimally invasive surgeries has been growing significantly in recent years due to the benefits of these surgeries such as shorter hospital stays, faster recovery times, and reduced risk of complications. When micro guide catheters are used in minimally invasive surgeries, they cause less trauma to the patients as the incisions on the body of the patients would be smaller and result in less blood loss, reduced pain, and faster recovery times. This awareness among the patient population has improved significantly in recent times and boosted the adoption. In addition, micro guide catheters offer greater precision, accuracy, and safety, resulting in improved patient outcomes and reduced healthcare costs when performed with minimally invasive surgeries, which is further driving the adoption of these devices and contributing to the market growth.

Technological developments are further boosting the growth rate of the micro guide catheters market.

In addition, increasing healthcare expenditure, the growing aging population, the growing number of people suffering from peripheral arterial disease (PAD), and the rising adoption of interventional radiology fuel the growth rate of the market. As per the World Health Organization, most of the aged population rate would increase by 60 and above by 2050, which shows the need for more use of microcatheters to minimize the risk of infections or complications after surgery. Furthermore, the growing demand for diagnostic and imaging procedures, an increasing number of catheterization laboratories, rising demand for neurovascular procedures, growing adoption of hybrid operating rooms, increasing demand for customized micro-guide catheters and rising adoption of robotic-assisted micro-guide catheterization promote the market growth.

MARKET RESTRAINTS

The high cost of micro guide catheters is one of the key factors hampering the market growth. The lack of skilled professionals that can perform micro-guide catheterization is another notable attribute hindering the market growth. In addition, factors such as rigorous regulatory requirements in many countries for micro guide catheters, the competition from alternative technologies that can provide similar or better benefits in some applications and risks and potential complications associated with the risks and potential complications, such as bleeding and infection, such as bleeding and infection limit the market’s growth rate. Limited reimbursement policies for micro-guide catheterization procedures in some countries and poor awareness regarding the benefits of micro-guide catheters among people further inhibit the market’s growth rate.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Micro Guide Catheters Market Analysis By Type

The over-the-wire segment had the largest share of the global micro guide catheters market in 2023 and is expected to grow at a promising CAGR during the forecast period. The segmental growth is majorly driven by the increasing usage of over-the-wire micro-guide catheters in a variety of interventional procedures, including peripheral vascular interventions, neurovascular interventions, and cardiac interventions. In addition, the growing patient population suffering from CVDs and neurological diseases that require interventional procedures using over-the-wire micro guide catheters, rapid adoption of technological developments and increasing demand for minimally invasive procedures that require smaller and more flexible catheters propel the segmental growth.

On the other hand, the flow-directed segment is anticipated to register a noteworthy CAGR during the forecast period owing to the rising adoption of these devices by healthcare professionals due to the improved navigability and stability, rising prevalence of neurological disorders, such as stroke, and peripheral vascular diseases and increasing preference for minimally invasive procedures, as flow-directed catheters offer a less invasive option than traditional surgical procedures.

Global Micro Guide Catheters Market Analysis By Therapeutic Area

The cardiovascular segment held the largest share of the worldwide market in 2023 and is predicted to continue its domination throughout the forecast period. Factors such as the growing patient population suffering from chronic diseases such as coronary artery disease and peripheral artery disease resulting in the increasing demand for cardiovascular interventions using micro guide catheters and technological advancements such as imaging modalities and stenting techniques leading to better diagnosis and treatment of cardiovascular diseases using micro guide catheters. In addition, increasing demand for minimally invasive surgeries is another key factor boosting the segment’s growth rate.

The neurological segment accounted for a substantial share of the global market in 2022 and is estimated to register a notable CAGR during the forecast period owing to the increasing usage of microguide catheters in interventional procedures to treat neurological disorders, such as stroke and aneurysms.

REGIONAL ANALYSIS

Geographically, the North American region had the largest share of the worldwide market in 2023 and is expected to be the dominating region in the worldwide market throughout the forecast period. The regional domination is majorly attributed to the growing incidence of cardiovascular diseases and the increasing preference for minimally invasive surgeries from the patient population. In addition, the presence of well-established healthcare infrastructure and several international market participants such as Boston Scientific Corporation and Medtronic in North America, favorable reimbursement policies for minimally invasive surgeries, and the growing aging population that requires advanced medical interventions in North America fuels the growth rate of the North American market during the forecast period. The U.S. captured the major share of the North American market in 2022 and is expected to witness a promising CAGR during the forecast period. The U.S. market growth is majorly driven by the increasing healthcare expenditure and the presence of sophisticated healthcare infrastructure.

Europe is another promising regional market for micro guide catheters worldwide and is expected to register a noteworthy CAGR during the forecast period. The rising prevalence of chronic diseases in Europe, the presence of leading market players, increasing adoption of advanced technologies and the availability of favorable reimbursement policies in certain countries, such as Germany and the UK and the rise in awareness about the benefits of minimally invasive surgical procedures majorly drive the European market growth. The implementation of strict regulations to ensure patient safety and the quality of healthcare services and favorable government initiatives, such as healthcare financing and insurance programs further boost the growth rate of the European market. Germany occupied the largest share of the European market in 2023.

APAC is predicted to witness the highest CAGR among all the regions in the worldwide market during the forecast period. The growth of the APAC market is majorly driven by the growing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and neurological disorders, the increasing demand for minimally invasive surgical procedures, the rising healthcare expenditure, and the increasing aging population. The growing number of improvements in the healthcare infrastructure among the APAC countries, rising preference for minimally invasive surgical procedures due to their benefits, increasing disposable income, the growing awareness about advanced medical technologies and the presence of local manufacturers that provide cost-effective solutions to patients further fuel the growth rate of the APAC market. China captured the leading share of the APAC market in 2023.

Latin America is anticipated to hold a considerable share of the global market during the forecast period and grow at a healthy CAGR. The availability of favorable reimbursement policies in certain countries, such as Brazil and Mexico, and the increasing patient population suffering from CVDs and neurological diseases in Latin America primarily boost the Latin American market growth. The growing medical tourism in Latin America and the increasing number of initiatives by the governments of Latin American countries to improve healthcare infrastructure and access to healthcare services further promote the regional market growth. Brazil, followed by Mexico, had the major share of Latin America in 2022.

MEA accounted for a moderate share of the worldwide market in 2023 and is expected to grow at a steady CAGR during the forecast period.

KEY PLAYERS IN THE GLOBAL MICRO GUIDE CATHETERS MARKET

Lake Region Manufacturing Inc., Boston Scientific Corporation, Volcano Corporation, Micro Therapeutics Inc., LuMend Corporation, Terumo Europe N.V., Covidien AG, ASAHI INTECC Company Limited, and Merit Medical Systems Inc. are some of the promising companies in the global micro guide catheters market and profiled in this report.

DETAILED SEGMENTATION OF THE GLOBAL MICRO GUIDE CATHETERS MARKET INCLUDED IN THIS REPORT

This research report on the global micro guide catheters market has been segmented based on the type, therapeutic area, and region.

By Type

• Over-The-Wire
• Flow Directed

By Therapeutic Area

• Neurovascular
• Cardiovascular

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa