The Micro Guide Catheters Market comprises guide catheters, which are devices that are inserted inside blood vessels and support medical procedures like angiography and angioplasty. Micro guide catheters have an outer diameter of up to 2 French and are used in minimally invasive surgeries and treatments. Their small size enables access to narrow and tortuous vessels. These catheters facilitate placement of wires and balloons during complex procedures. Growing prevalence of cardiovascular diseases and increasing adoption of minimally invasive surgeries are propelling the demand for micro guide catheters.

The Global Micro Guide Catheters Market is estimated to be valued at US$ 227.91 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.

Key Takeaways

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., Fresenius Kabi AG, Eiger BioPharmaceuticals.,Crinetics Pharmaceuticals, Inc., AmideBio,LLC, Jolly Healthcare, e5 Pharma,LLC, Merck & Co.,Inc., Novo Nordisk A/S, Amphaster Pharmaceuticals,Inc., USV Private Limited, Teva Pharmaceutical Industries Ltd.

The rising geriatric population is prone to cardiovascular diseases, which is raising the demand for micro guide catheters in minimally invasive procedures. Additionally, growing adoption of interventional radiology and cardiology is also fueling market growth.

The micro guide catheters market is expanding globally due to increasing healthcare expenditure and improving healthcare infrastructure in developing nations. Moreover, technological advancements in micro guide catheters are enabling complex vascular procedures to be performed, which is driving international market growth.

Market drivers

The key driver propelling the micro guide catheters market is the rising geriatric population globally. Older adults above 65 years of age have a higher risk of developing cardiovascular diseases due to age-related deterioration of arteries and blood vessels. As per the World Health Organization (WHO), the number of people aged 65 years and older is projected to reach 1.5 billion in 2050 from 703 million in 2019. The growth in the elderly population seeking minimally invasive treatments will propel demand for micro guide catheters in the coming years.

The current geopolitical tensions are posing challenges for the growth of the micro guide catheters market size. Supply chain disruptions due to trade restrictions imposed by certain countries on other nations are affecting the smooth procurement of raw materials required for manufacturing micro guide catheters. For instance, ongoing Russia-Ukraine conflict has escalated trade tensions between Western nations and Russia, disrupting European exports of key raw materials to other parts of the world. Additionally, restrictions on movement of goods and people due to lockdowns imposed during COVID-19 pandemic have negatively impacted the production and distribution of micro guide catheters in several regions.

Manufacturers must diversify their supply sources and establish alternative supply partnerships in different geographic locations to mitigate future supply chain risks arising from geopolitical issues. They also need to implement efficient inventory management strategies and enhance transparency in supply chain visibility through technological interventions. Micro guide catheters market players should explore opportunities in emerging countries that offer political stability and tax incentives. They can focus on expanding in Asia Pacific and Latin America which have growing healthcare infrastructure and rising demand for interventional therapies.

In terms of value contribution, North America dominates the micro guide catheters market currently owing to high usage of advanced catheterization procedures and availability of favorable reimbursement policies in countries like the US and Canada. Europe holds the second largest share led by increasing neurological disorders and rising adoption of minimally invasive surgeries in countries such as Germany, France and UK. Asia Pacific is poised to be the fastest growing regional market over the forecast period supported by growing healthcare expenditure, disease awareness programs by governments and emergence of regional key market players. Key countries driving growth in Asia Pacific include China, India, Japan and South Korea due to improving economic conditions and increasing patient access to healthcare services.

South Africa has a well-established pharmaceutical industry and investment in life sciences. Manufacturers should consider expanding in the African region, especially South Africa, Kenya and Nigeria, where the rates of cardiovascular and neurovascular diseases are rising due to growing aging population and changing lifestyle habits. These countries also offer low-cost manufacturing advantages and provide a strategic base to cater to the neighboring markets.

Among all geographical regions, Asia Pacific displays highest potential for the micro guide catheters market in terms of future growth opportunities. Factors such as rising healthcare infrastructure, swelling middle-class population, increasing medical tourism and government efforts to enhance access to quality care will continue fueling the demand for advanced interventional surgical procedures thereby augmenting the regional market.

Get more insights on this topic: https://www.newsanalyticspro.com/micro-guide-catheters-market-industry-insightstrendsmicro-guide-catheters-market/

Explore more information on this topic, Please visit: https://coolbio.org/virtual-reality-is-changing-the-face-of-gaming-industry/