Report : North America Micro Catheters and Micro Guidewires Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Micro Catheters and Micro Guidewires), Indication (Urology, Otolaryngology, Oncology, and Others),and End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers)
Microcatheters Segment to Dominate North America Micro Catheters and Micro Guidewires Market during 2020–2028
According to a new market research study on “North America Micro Catheters and Micro Guidewires Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Indication, and End User,” is expected to reach US$ 895.74 million by 2028 from US$ 605.47 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the North America micro catheters and micro guidewires market along with the drivers and restraints pertaining to the market growth. Significantly increasing prevalence of cardiovascular diseases is the major factor driving the growth of North America micro catheters and micro guidewires market. However, product recall and stringent regulatory requirement hinder the growth of North America micro catheters and micro guidewires market
COVID-19 virus outbreak was first observed in December 2019 in Wuhan (China), and it has spread to ~100 countries across the world, with the World Health Organization (WHO) stating it as a public health emergency. The global impacts of COVID-19 are being felt across several markets, including the market for microcatheters and micro guidewires market. Although the healthcare sector had witnessed SARS, H1N1, and other outbreaks in the last few years, the severity of the COVID-19 has made the situation more complicated due to its mode of transmission. North America has been witnessing growing number of COVID-19 cases since its outbreak. Several measures are being taken to contain the disease and prevent the transmission; however, the exorbitant number of COVID cases have resulted in cancellation of doctor's appointment, decreased in demand for the elective neurosurgery , disruption in supply chain due to long period of lockdown. For instance, Medtronic plc, a company that generates the majority of its sales and profits from the U.S., has suffered a decrease in revenue of 1 percent in the fiscal year 2020 compared to the fiscal year 2019 in the neurovascular category. Neurosurgery net sales declines were impacted by delays in capital equipment sales during the fourth quarter due to COVID-19. Moreover, on March 18, 2020, the U.S. Centers for Medicare & Medicaid Services released recommendations to U.S. healthcare facilities, suggesting reductions of elective treatment, such as neurosurgery, endovascular clot stabilization rehabilitation, cerebral aneurysm operations, and others to conserve personal protective devices and beds for usage in the battle against COVID-19. In addition, Penumbra, Inc., has experienced disruption in business due to domestic and international governmental orders restricting certain activities in response to COVID-19, including changes in on-site operations to reduce manufacturing capacity and implement social distancing, reductions in suppliers’ ability to source, ship raw materials in alignment with demands, work stoppages, slowdowns, and delays
The market for micro catheters and micro guidewires is segmented into by product type, indication, end user, and country. Based on product type, the market is segmented into, micro catheters and micro guidewires. The micro catheter segment held the largest share of the market in 2020, and the same segment is anticipated to register the highest CAGR in the market during the forecast period. Based on, by indication, the market is segmented into, neurovascular, cardiology, urology, otolaryngology, oncology, and others. The cardiology segment held the largest share of the market in 2020, however, the oncology segment is anticipated to register the highest CAGR in the market during the forecast period. Similarly, based on end user, the market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2020 and is estimated to register the highest CAGR in the market during the forecast period.
B. Braun Melsungen AG; BD; Boston Scientific Corporation; Cardinal Health Inc; Cook Medical LLC; Medtronic; Stryker Corporation; Teleflex Incorporated; Terumo Corporation; are among the leading companies in the North America micro catheters and micro guidewires market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Medtronic Launches Telescope Guide Extension Catheter. Telescope features design innovations to enable smooth delivery of coronary stents and balloons to support complex coronary cases
The report segments the North America Micro Catheters and Micro Guidewires Market as follows:
North America Micro Catheters and Micro Guidewires Market – By Product Type
- Micro Catheter
- Micro Guidewire
North America Micro Catheters and Micro Guidewires Market – By Indications
- Cardiology
- Neurology
- Oncology
- Intravascular Embolization
- Transcatheter Arterial Chemo Embolization
- Urology
- Otolaryngology
- Others
North America Micro Catheters and Micro Guidewires Market – By End User
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
North America Micro Catheters and Micro Guidewires Market – By Country
- US
- Canada
- Mexico
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