The global Micro Guide Catheter Market had a valuation of USD 439.0 million in 2022. It is projected to reach USD 953.46 million by 2032, with a compound annual growth rate (CAGR) of 9% during the forecast period. The increasing demand for minimally invasive procedures and the prevalence of cardiovascular diseases are the primary drivers behind the market's revenue growth.
Micro guide catheters are commonly used in the diagnosis and treatment of various cardiovascular disorders such as aneurysms, artery stenosis, and vascular abnormalities. These catheters are highly preferred by medical professionals due to their ability to enhance access to difficult-to-reach areas within the blood vessels.
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Key players in the Micro Guide Catheter Market:
- Terumo Corporation
- Boston Scientific Corporation
- Cook Medical Inc.
- Medtronic plc
- Stryker Corporation
- Merit Medical Systems Inc.
- Asahi Intecc Co., Ltd.
- MicroPort Scientific Corporation
- Abbott Laboratories
- Teleflex Incorporated
- Cardinal Health, Inc.
Moreover, the advancement of technologically advanced micro guide catheters is fueled by the growing integration of new technologies in healthcare. For example, the market is witnessing a rising adoption of micro guide catheters equipped with augmented reality (AR) and virtual reality (VR) technologies. These advancements enable doctors to visualize the catheter's path and perform procedures with increased accuracy.
Segments Covered in the Report –
By Type Outlook -
- Over-the-wire
- Flow-directed
- Others
By Application Outlook -
- Cardiovascular
- Neurovascular
- Others
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Strategic development:
· Boston Scientific made headlines in 2021 with its acquisition of Lumenis Ltd.'s surgical business for $1.07 billion. The primary objective of this acquisition was to broaden Boston Scientific's range of surgical products, including its portfolio of micro guide catheters.
· In another significant acquisition in 2021, Terumo Corporation announced its purchase of Aortica Corporation, a U.S.-based medical device company specializing in advanced image analysis software for managing aortic aneurysms. The aim of this acquisition was to expand Terumo's product offerings within the cardiovascular market.
· In the year 2020, Medtronic introduced its Telescope Guide Extension Catheter, a specialized device designed to enhance support and enable access to distal lesions during complex coronary and peripheral interventions.
· Stryker Corporation also made waves in 2020 by acquiring Wright Medical Group N.V., a global medical device company focused on Extremities and Biologics. The acquisition was carried out with the intention of expanding Stryker's orthopedic product offerings, which included its micro guide catheter portfolio.
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