Over-the-wire Micro Guide Catheters Market Size, Analytical Overview, Growth Factors, Demand and Trends Forecast to 2025
Over-the-wire Micro Guide Catheter (OTW Micro Guide Catheter) is a thin tubular Medical device inserted into the body for diagnosis or treatments of diseases like cardiovascular, neurovascular, and urology. Specially designed to ease complex procedures, OTW Micro Guide Catheter combining excellent cross-ability and optimal guide-wire support, can effectively treat challenging cases involving tortuous vessels, CTO (chronic total occlusions), bifurcations, and highly stenosed and calcified lesions, giving the high success rate.
OTW Catheters are widely used in cardiovascular applications such as peripheral and coronary interventions and neurovascular interventional applications. The high success rate associated with the use of these catheters further augments its uptake and demand, resultantly driving its market growth.
According to Market Research Future (MRFR), the global Over-the-wire Micro Guide Catheters Market is expected to grow at a CAGR of 9.37% during the forecast period (2018–2023).
According to reports published by the Centers for Disease Control and Prevention, the coronary heart disease is the most common type of heart diseases that accounted for the death of about 366,000 people in 2015.
Over-the-wire catheters comparatively make a better choice to treat a brain aneurysm than the rapid exchange catheters owing to their capabilities of extra pushing to enter stenose vessels, and additional support that they provide.
The increasing occurrences of coronary heart diseases, neurovascular diseases, hypertension, and other metabolic disorders, raising awareness for health, advancement in technologies, good healthcare infrastructure, and favorable reimbursement policies are fueling the market growth.
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The global over-the-wire micro guide catheters market is segmented into four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is the global market leader for over-the-wire Micro-guide catheters. As per the study published in the Surgical Neurology International in 2017, it was found that more than 3% population of the United States equivalent to nearly 10 million individuals have a brain aneurysm. North America commands for the major share of the market whereas; South America show the fastest growth of the market due to the presence of boundless growth opportunities.
Europe OTW Micro Guide Catheter market holds the second position, globally. This is primarily attributable to the increasing prevalence of obesity as well as the increased incidence rate of hypertension and diabetes, which in turn is escalating cardiovascular traumas and cardiac arrest. Each year 15% of deaths in Europe occur due to cardiovascular diseases claims a study conducted by European Society of Cardiology.
The Asia Pacific region is the fastest growing market for the over-the-wire micro guide catheters. The region presents significant growth opportunities for market players as local policy makers continue to restructure the policy framework for the healthcare sector.
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Global OTW Micro Guide Catheter Market: Segmentation
The global over-the-wire micro guide catheters market is segmented on the basis of applications and end-users. On the basis of applications, it is segmented into cardiovascular and neurovascular. By the cardiovascular, it is segmented into angiography, angioplasty, peripheral stenting, and others. On the basis of the neurovascular, it is segmented into intracranial aneurysms, percutaneous neurointerventional procedures, and others. Based on end-user the market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others.
Major Players in the Over-the-wire Micro Guide Catheters Market
Enki – Microtubes, Cardinal Health, DePuy Synthes, Koninklijke Philips N.V, Penumbra Inc., Terumo Europe N.V., Integer Holdings Corporation, Merit Medical Systems Inc., Teleflex Incorporated, Cook Medical, Boston Scientific Corporation, Asahi Intecc Company Limited, and Medtronic plc.