The catheters are the thin tubes which are used as medical devices made of high graded materials. Moreover, these are inserted into the body for the treatment of numerous diseases or while functioning surgeries. This process is called as catheterization. They are used in the cure of diseases such as neurovascular, cardiovascular, urology and several others. Catheters are inserted into the body for the administration of numerous liquid medication of gas for the cure of diseases. Increasing preference towards minimally invasive surgical procedures, technological advancements in over-the-wire micro-guide catheters, a growing number of patients suffering from cardiac and neurovascular disorders are the major drivers which lead the market grew more significantly across the globe in the forecasted period. While with the growth drivers the market is having few restraints which hinder the market growth such as the risk of infections may hinder the market and lack of skilled physicians. Whereas, for removing the restraints the market key players are adopting the market opportunities such as an increase in research and innovations and several others further which proved to be beneficial for acquiring the huge market share and leading the fastest growth across the globe in the near future.
According to the report analysis, ‘Global Over-the-wire Micro-Guide Catheter Market Research Report – Forecast to 2023’ states that some of the major companies which are recently functioning in this market more actively for acquiring the huge market share by doing more innovations and developments includes ASAHI INTECC Company Limited, Boston Scientific Corporation, Cook Medical, Medtronic plc., Merit Medical Systems Inc., Integer Holdings Corporation, Terumo Europe N.V., Penumbra Inc, Koninklijke Philips N.V, Cardinal Health, Teleflex Incorporated, DePuy Synthes, Enki – Microtubes and several others. Moreover, the introduction of catheters has completely changed the cure scenario of many surgeries such as cardiac surgery and many others. The minimally invasive cardiac surgery can be less troublemaking and distressing for the human body, making it predominantly beneficial in elderly patients who are at an increased risk of surgical complications.
According to the American Heart Association and Stroke Statistics (2017), about 92.1 million American adults are existing with cardiovascular diseases and strokes, and cardiovascular diseases are the main reasons of death across the globe which accounted for 17.9 million deaths per years in 2015. Moreover, the global over-the-wire micro-guide catheter market is split based on the end-user and applications. Whereas, based on the end-user, the market is segmented into clinics and hospitals, research and academic institutes and ambulatory surgical centers. Furthermore, the global over-the-wire micro-guide catheter market was worth at USD 102.6 million in 2017 and is predicted to account a CAGR of 9.4% over the forecast period. Not only has this, based on the application, but the cardiovascular sector also registered for the main market share of 58.1% and was worth at USD 59.6 million in the last years that is 2017. Furthermore, it is expected that in the near future the market of the over-the-wire micro-guide catheter will increase more actively over the recent few years with the more investment by the new entrants in the innovations and developments.
To know more, click on the link below:-
Ankur Gupta, Head Marketing & Communications