LONDON--(BUSINESS WIRE)--The global micro guide catheters market is projected to grow to USD 532.4 million by 2021, at a CAGR of close to 9% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global micro guide catheters market for 2017-2021. Based on product type, the market is divided into over-the-wire micro guide catheter and flow directed micro guide catheter segments.
A micro guide catheter, or a microcatheter, is a very small single lumen device used on a guidewire to track or help a physician to target a lesion or to cross the lesion. The advances medicine is resulting in greater demand for minimally invasive procedures, which is positively impacting the growth of the micro guide catheter market.
Technavio’s research study segments the global micro guide catheters market into the following regions:
Micro guide catheters market in the Americas
“The Americas dominates the micro guide catheters market, occupying over 49% of the global shares. The increased adoption of advanced technical products is expected to drive the market segment over the forecast period,” says Barath Palada, a lead analyst at Technavio for cardiovascular devices research.
The US is the largest revenue contributor in this region, driven by an increase in the older population, rise in the number of chronic diseases, obesity, and lifestyle and dietary changes. Also, the growing awareness about intravenous treatment with micro guide catheters has helped surgeons and radiologists to perform safe, accurate, and effective treatments.
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Micro guide catheters market in EMEA
EMEA is the second largest segment of the micro guide catheters market, driven by new product launches and rising approvals from concerned regulatory authorities. The region is likely to witness the introduction of several new products, leading to an increase in product penetration. The UK, France, Italy, Spain, and Germany are the top revenue contributors to the market segment. Also, most of the medical facilities in EMEA are adopting advanced diagnostic procedures which will have a positive effect on the growth of MI procedures in this region owing to rise in the adoption of micro guide catheters in interventional procedures.
Micro guide catheters market in APAC
“APAC is expected to be the fastest-growing segment of the micro guide catheters market, with a CAGR of 9.4% over the forecast period. The vendors in the market are quickly increasing their foothold in the untapped market space, thereby driving market growth,” says Barath.
Emerging countries such as India, China, Indonesia, and Malaysia are the most promising countries for vendors in the micro guide catheters market, due to the rising incidences of sudden cardiac arrests and peripheral arterial disease (PAD). Also, the rise in disposable income is encouraging more people to opt for expensive medical procedures, which is positively impacting the market.
The top vendors in the global micro guide catheters market highlighted in the report are:
- Boston Scientific
- Merit Medical
- ASAHI INTECC
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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