Report : Europe and Middle East & Africa Cardiac Microcatheters Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Indication (General Peripheral Vascular, Coronary), End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers)
Hospitals Segment to Lead Europe and Middle East & Africa Cardiac Microcatheters Market During 2023–2028
According to our latest study on "Europe and Middle East & Africa Cardiac Microcatheters Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Indication and End User," the market was valued at US$ 95.76 million in 2022 and is projected to reach US$ 136.05 million by 2028; it is estimated to register a CAGR of 6.1% from 2023 to 2028. The report highlights the key factors driving and restraining the Europe and Middle East & Africa cardiac microcatheters market growth, prominent players with their developments in the market, and trends prevailing in the market.
Cardiac microcatheters are commonly used to access discrete regions of the coronary vasculature and perform diagnostic and therapeutic interventions during chronic total occlusion (CTO) and complex percutaneous coronary intervention (PCI). These catheters are typically multi-layered to improve navigation and guidewire exchange to increase penetration during coronary interventions. Cardiac microcatheters are used as an interventional tool for a therapeutic approach to complex coronary interventions such as ostial location, bifurcation lesions, tortuous anatomy, angled takeoffs, and coronary calcification. High prevalence of cardiovascular diseases and growing use of Percutaneous Coronary Intervention (PCI) for treating Chronic Total Occlusions (CTO) are the key factors driving the Europe and Middle East & Africa cardiac microcatheters market growth. However, complications and failures related to the usage of cardiac microcatheters are hampering the Europe and Middle East & Africa cardiac microcatheters market growth.
Based on end user, the Europe and Middle East & Africa cardiac microcatheters market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. In 2022, the hospitals segment held the largest market share of the Europe and Middle East & Africa cardiac microcatheters market, and it is also expected to register the highest CAGR during the forecast period. Hospitals serve a significant role by providing an extensive range of medical services to the patient population suffering from a wide variety of diseases. The growth of the segment is majorly attributed to the increasing number of hospitals with advanced facilities, rising focus on offering superior patient experience, and growing preference of patients to opt for hospitals in order to receive treatment for coronary conditions. Increase in the number of hospitals, improvements in reimbursement policies, and rise in incidences of cardiovascular diseases are a few other factors expected to fuel the Europe and Middle East & Africa cardiac microcatheter market in the coming years.
Impact of COVID-19 Pandemic on Europe and Middle East & Africa Cardiac Microcatheters Market
The COVID-19 pandemic has significantly impacted the cardiac microcatheters market. The European economy was severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK were among the most affected European countries. Europe experienced more severe repercussions of the COVID-19 pandemic in 2020 than the global economy. Furthermore, it experienced a slower pace of recovery in 2021. The pandemic caused an unprecedented health crisis in European economies. The limited availability of resources, including trained staff and medical equipment, and the burden of noncommunicable diseases harm the overall healthcare system in the region. In 2020, the COVID-19 pandemic had a significant impact on the delivery and accessibility of social services, education, health & nutrition, healthcare spending, and well-being- & development-related businesses in the Middle East & Africa. Owing to the region's dependence on trade and tourism and struggles with substantial youth unemployment, the crisis led to serious long-term effects.
The onset of the COVID-19 outbreak has impacted the Europe and Middle East & Africa cardiac microcatheters market, as these regions faced challenges associated with limited intensive care unit (ICU) beds and ventilator spaces. During the pandemic, the guidelines for cardiovascular procedures were divided into three categories—non-urgent/elective procedures, semi-urgent procedures, and urgent/non-elective procedures. Electoral procedures have been suspended or postponed, while non-electoral procedures have been prioritized. All coronary procedures were suspended in Europe and Middle East & Africa during the COVID-19 pandemic. According to the study "Cardiovascular Risk Factors Among Patients Infected with COVID-19 in Saudi Arabia," published in April 2021, patients infected with COVID-19 were likely to develop cardiovascular diseases. The main risk factors associated with these diseases in COVID-19 patients were pneumonia and longer hospital stays. Teaching centers and elective procedures had significantly dropped, while primary PCI (PPCI) was only partially affected during the pandemic. The largest reduction was seen in coronary angiography (CA) by 63.5%, while elective PCI and primary PCI (PPCI) were reduced by 58% and 2.6%, respectively. In the teaching centers, overall procedures decreased by 60.5%, electoral procedures by 67.2%, and PPCI by 4.5%. In contrast, in non-teaching centers, overall and elective procedures were reduced by 37.4% and 43.1%, respectively, and PPCI increased by 2%. Therefore, the COVID-19 pandemic had a negative impact on Europe and Middle East & Africa cardiac microcatheter market growth.
However, pre-emptive action by governments helped flatten the infection curve in their respective countries across Europe and Middle East & Africa. With the gradual recovery of the regions from the COVID-19 pandemic, authorities worked on improving their resilience and digitally efficient healthcare systems. Furthermore, the trend of consumerization in healthcare provides greater authority and decision-making power to patients, which is driving the paradigm shift toward value-based care in the regions, thereby providing growth opportunities for the Europe and Middle East & Africa cardiac microcatheters market.
Boston Scientific Corp, Teleflex Inc, Medtronic Plc, OrbusNeich Medical Group Holdings Ltd, Asahi Intecc USA Inc, Merit Medical Systems Inc, Nipro Corp, Terumo Corp, Tokai Medical Products Inc, and Integer Holdings Corp are among the leading companies operating in the Europe and Middle East & Africa cardiac microcatheters market.
Based on indication, the Europe & Middle East & Africa cardiac microcatheters market is divided into general peripheral vascular and coronary. In 2022, the coronary segment held a larger market share of the Europe & Middle East & Africa cardiac microcatheters market, and the same is expected to register a higher CAGR during the coming years. The Europe & Middle East & Africa cardiac microcatheters market, based on end user, is segmented into hospitals, specialty clinics, and ambulatory surgical centers. In 2022, the hospitals segment held the largest market share in the Europe & Middle East & Africa cardiac microcatheters market; however, the specialty clinics segment is expected to record the highest CAGR during the coming years. Based on geography, the Europe & Middle East & Africa cardiac microcatheters market is bifurcated into Europe (Germany, UK, France, Italy, Spain, and Rest of Europe) and Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa).
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