Micro Guide Catheters Market Size, Share, Trends and Forecast To 2024 Micro Guide Catheters Market

Global Micro Guide Catheters Market: Growing Count of
Vascular Disorders and Aneurysms Ring Alarm Bells for
Developers, notes TMR
Boston Scientific Corporation, Cardinal Health, and Medtronic have been the leaders in the global micro
guide catheters market for 2015. Their collective share of 50.3% in the global micro guide catheters
market in terms of value is a part of a highly consolidated market, where the globally prominent entities hold
the higher stakes and control.
As stated by Transparency Market Research, the competitive edge in the global micro guide catheters
market is expected to remain fairly sharp over the coming years, due to the presence of a large number of
globally prominent players in all key geographies of the market. The threat of new entrants on the other
hand is likely to remain very low due to the cost and proprietary nature of technology that key players
already hold. The global micro guide catheter market is projected to expand at a CAGR of 7.5% from 2016
to 2024 to reach US$242.0 mn by the end of 2024. The market was also calculated to reach US$136.3 mn
at the end of 2016.
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Vascular Disease Count on the Rise, Pushes Developments in Micro Guide Catheters
“One of the leading factors currently working in favor of the global micro guide catheters market is the
growing number of people falling prey to aneurysms or other types of vascular diseases. The America Heart
Association, for instance, had stated that each year, close to 17.3 mn people die due to cardiovascular
diseases. This number is expected to increase further to 23.6 mn per year by the end of 2030. This
staggeringly growing patient pool is the primary target for the players in the global micro guide catheters
market, thereby spurring several of them into advancing their products at a much faster rate,” states a TMR
analyst.
The global micro guide catheters market is also being driven by the growing adoption rates of minimally
invasive tools. The increasing geriatric demographic is a prime cause of the growing demand for pain-free
and minimally invasive surgical options. The proliferation of these technologies into the global micro guide
catheters market has allowed players to significantly boost their demand volumes over the recent years.
The global micro guide catheters market is also being driven by the increasing expenditure on the
healthcare industry, especially in developing economies. This is encouraging globally prominent players to
enter these regions and ramp up the provision of quality products.
Product Recalls and Lack of Insurance Coverage Plague Global Micro Guide Catheters Market
One of the two top factors restraining the global micro guide catheters market today is the overall lack of
reimbursement policies surrounding the use of these devices. This problem is especially prominent in