by Micro guide catheters play a pivotal role in facilitating minimally invasive endovascular procedures across neurointervention by enabling the delivery of stents, coils, and clot-removal devices to treat various cerebrovascular conditions. These ultra-flexible and trackable guide catheters allow neurointerventionists to access narrow vessels within the brain vasculature precisely with ease.
The global micro guide catheters market is estimated to be valued at US$ 227.91 million in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period of 2024-2031.
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 increasing prevalence of cerebrovascular diseases and rising demand for minimally invasive procedures are expected to create lucrative opportunities for players in the micro guide catheters market. Technological advancements in micro guide catheters including advanced polymer-based designs and hydrophilic coating on surfaces have improved trackability and torque control significantly.
Market drivers
The primary drivers boosting the micro guide catheters market include rising geriatric population susceptible to cerebrovascular conditions, growing preference for minimally invasive surgeries, and increasing healthcare expenditure in developing nations. Additionally, favorable reimbursement policies and the adoption of innovative products by hospitals and healthcare facilities are anticipated to propel the demand for micro guide catheters over the forecast period.
Current challenges in Micro Guide Catheters Market:
The micro guide catheters market analysis is at a nascent stage and faces several challenges. Lack of proper reimbursement policies for interventional procedures involving micro guide catheters limits their adoption. Reliance on very few vendors for procuring these devices leads to supply chain issues. Further, lack of skilled interventional cardiologists and radiologists to handle delicate micro guide catheters poses procedural challenges. Absence of clinical studies establishing high efficacy of micro guide catheters compared to conventional variants also acts as a hindrance.
SWOT Analysis
Strength: Precise maneuverability to reach complex vascular anatomies. Ability to precisely deliver therapies to targeted areas.
Weakness: Requires special technical skill from operators. Higher cost compared to conventional guide catheters.
Opportunity: Untapped growth potential in developing countries. Launch of advanced versions with steerability and compatibility with multiple devices.
Threats: Threat from conventional guide catheters with incremental upgrades. Stringent regulatory approval process for new devices delays product launches.
Geographical regions of concentration
North America accounts for the largest share of the micro guide catheters market owing to presence of major players and availability of advanced healthcare facilities. Favorable reimbursement scenario also supports market growth.
Fastest growing region
Asia Pacific region is poised to witness highest growth in the forthcoming years. Rising healthcare spending, growing patient awareness about minimally invasive therapies, and increasing initiatives to enhance accessibility of specialty devices drive the micro guide catheters market in the region. Penetration of global market leaders further augurs well for regional market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
