Growing at an impressive CAGR (Compound Annual Growth Rate) of 7.6%, the global micro guide catheters market is set to accrue a hefty market worth between 2017 and 2024. As per a Transparency Market Research study, one of the leading causes of this growth is the preference for minimally invasive medical procedures and population of geriatrics seeing an upward curve.
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Besides, the more integrated, and efficient a medical system, the higher the probability of minimally invasive surgeries over traditional variant. The reason is that procedures take less time and patients can be discharged the same day.
The global micro guide catheters market landscape is fragmented one and major players include Boston Scientific Corporation, Cardinal Health, Cook Medical, LuMend Corporation, Micro Therapeutics Inc., Philips N.V. and Volcano Corporation among others.
Sedentary Lifestyle Contributing Positively to the Micro Guide Catheters Market
It is pertinent to note here that as sedentary lifestyle marks a new normal for whole generations present and the ones to come, associated diseases like those of the heart see a steep rise. Since, complications post-surgery are minimized with the use of micro guide catheters, the market would be propelled on a high growth curve.
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Rising Geriatric Population boosting growth in the Global Micro Guide Catheters Market
The geriatric population is growing at a very fast pace and as per a study conducted recently, it has been noted that one in six people in the world will be aged 65 and above by the year by the year 2050. As per World Health Organization, most people today will reach their 60s and probably beyond. By 2050, about 2 million people will be 60 and over which is a steep rise from the number of people in the age group in 2015 – 900 million. Currently, 125 million people are occupying the age group of 80 and above.
This is an important consumer base for the micro-guide catheters market owing to the sheer number and problems associated with age, pushing the micro guide catheters market towards further growth. Coupling it up with a sedentary lifestyle and a poor diet are propelling the market on a higher curve.
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North America to Dominate the Market Landscape over the Forecast Period
Owing to high healthcare expenditure and a rapidly increasing geriatric population, the North American region will account for a large share of global micro guide catheters market. By 2050, one in every four people in the region will fall in the age group of 65 and above.
The details presented above are obtained from a Transparency Market Research (TMR) report titled “Micro Guide Catheters Market (Product Type: Over-The-Wire & Flow-Directed; Indication: Cardiovascular, Neurovascular; End-User: hospitals, Specialty Centers, Ambulatory Surgery Centers) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2017 – 2024”.
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The report has been segmented as presented below:
By Product Type:
- Specialty Centers
- Ambulatory Surgery Centers
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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