Micro guide catheters are vital medical devices used during minimally invasive medical procedures to access and navigate through cardiovascular anatomy. Micro guide catheters play an important role in endovascular interventions such as angioplasty, stent placement, and vascular occlusions. They help deliver devices such as guidewires, balloons, and stents to desired locations in the vascular system with precision. Micro guide catheters come in sizes ranging from 0.014 inches to 0.018 inches outer diameters and offer higher flexibility and maneuverability to access tortuous vessels and lesions.
The global Micro Guide Catheters Market is estimated to be valued at US$ 227.91 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed in the micro guide catheters market is the increasing adoption of technologically advanced products. Key manufacturers are focusing on developing innovative micro guide catheters integrated with advanced features such as steerable tips, variable support, and radiopaque markers to provide better navigation and visualization during endovascular interventions. For instance, in 2021, Boston Scientific Corporation launched the Fleetline 35 micro catheter featuring 360° steerability and hydrophilic coating for improved deliverability and trackability. Another key trend is the growing demand for micro guide catheters from interventional neurology applications. Rising prevalence of neurological disorders such as cerebral aneurysm and strokes has boosted the demand for effective minimally invasive treatments such as coil embolization and flow diversion procedures, fueling the need for high precision micro guide catheters.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as specialized manufacturing expertise and high R&D cost are required in order to develop innovative micro guide catheters.
Bargaining power of buyers: The bargaining power of buyers is high due to presence of several global as well as regional players offering a variety of micro guide catheters.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw materials.
Threat of new substitutes: The threat of new substitutes is low as micro guide catheters offer precise navigation and deployment of stents/devices in minimally invasive procedures.
Competitive rivalry: The competitive rivalry is high among the key global players to gain higher market share through innovative product launches and expansions.
Key Takeaways
The global micro guide catheters market is expected to witness high growth over the forecast period of 2024 to 2031. Global Micro Guide Catheters Market Size is estimated to be valued at US$ 227.91 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.
North America region currently dominates the market and is expected to maintain its position during the forecast period as well due to rising prevalence of cardiovascular diseases and growing geriatric population in the US and Canada accepting minimally invasive procedures.
Regional analysis: Europe is also expected to witness significant growth in micro guide catheters market due to growing research activities pertaining to interventional cardiology and developing healthcare infrastructure across Germany, UK and France. The Asia Pacific region provides ample opportunities for market growth with rising medical tourism in countries like India, China and Japan.
Key players: Key players operating in the micro guide catheters market are Zealand Pharma A/S, Eli Lilly and Company, Xeris Pharmaceuticals, Inc., Rezolute, Inc., Hanmi Pharm.Co., Ltd. These players are focusing on new product launches and geographic expansions to sustain their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it