Cardiology Segment to Dominate Europe Micro Catheters and Micro Guidewires Market during 2020-2028
According to a new market research study on “Europe 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$ 488.34 million by 2028 from US$ 348.92 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the Europe micro catheters and micro guidewires market along with the drivers and restraints pertaining to the market growth. Rising incidence of neurovascular diseases is the major factor driving the growth of Europe micro catheters and micro guidewires market. However, product recall and stringent regulatory requirement hinder the growth of Europe micro catheters and micro guidewires market.
The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries. Regulatory bodies in the region are taking preventive measures such as complete quarantine and shutting down all business operations. In March 2020, the European Medicines Agency established a managing committee to deal with the impact of COVID-19 on the supply chain of medicines and devices. Furthermore, once the COVID-19 pandemic subsides there may be constraints in the capacities and financial resources of hospitals and other healthcare providers to perform elective surgeries procedures that had been deferred due to COVID-19, which could have an adverse effect on demand for neurovascular products and is likely to hamper the growth of the company. Many hospitals in Europe have also implemented restrictions on vendor access, potentially limiting our ability to provide product and case support. According to a report published in Europe Journal of Neuro-Interventional Surgery “European Society of Minimally Invasive Neurological Therapy (ESMINT) recommendations for optimal interventional neurovascular management in the COVID-19 era” stated that the market for neurovascular devices has declined due to many reasons. The decreasing number of attending medical staff in the hospital is leading to cancel all unnecessary meeting, doctor’s appointment, and events. Due to the fear of infection in patients as well as doctors, people are refraining from hospitals and avoiding neurovascular surgeries. These measures are likely to hamper the overall manufacturing and marketing of neurovascular devices, which will have an adverse impact on market growth.
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 Europe 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 European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries. Regulatory bodies in the region are taking preventive measures such as complete quarantine and shutting down all business operations. In March 2020, the European Medicines Agency established a managing committee to deal with the impact of COVID-19 on the supply chain of medicines and devices. Furthermore, once the COVID-19 pandemic subsides there may be constraints in the capacities and financial resources of hospitals and other healthcare providers to perform elective surgeries procedures that had been deferred due to COVID-19, which could have an adverse effect on demand for neurovascular products and is likely to hamper the growth of the company. Many hospitals in Europe have also implemented restrictions on vendor access, potentially limiting our ability to provide product and case support. According to a report published in Europe Journal of Neuro-Interventional Surgery “European Society of Minimally Invasive Neurological Therapy (ESMINT) recommendations for optimal interventional neurovascular management in the COVID-19 era” stated that the market for neurovascular devices has declined due to many reasons. The decreasing number of attending medical staff in the hospital is leading to cancel all unnecessary meeting, doctor’s appointment, and events. Due to the fear of infection in patients as well as doctors, people are refraining from hospitals and avoiding neurovascular surgeries. These measures are likely to hamper the overall manufacturing and marketing of neurovascular devices, which will have an adverse impact on market growth.
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 Europe 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 Europe Micro Catheters and Micro Guidewires Market as follows:
Europe Micro Catheters and Micro Guidewires Market - By Product Type
- Micro Catheter
- Micro Guidewire
Europe Micro Catheters and Micro Guidewires Market - By Indications
- Cardiology
- Neurology
- Oncology
- Intravascular Embolization
- Transcatheter Arterial Chemo Embolization
- Urology
- Otolaryngology
- Others
Europe Micro Catheters and Micro Guidewires Market - By End-user
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
Europe Micro Catheters and Micro Guidewires Market - By Country
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
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- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region
Table of Contents
1. Introduction
3. Research Methodology
4. Europe Micro Catheters and Micro Guidewires - Market Landscape
5. Europe Micro Catheters and Micro Guidewires Market - Key Industry Dynamics
6. Micro Catheters and Micro Guidewires Market - Europe Analysis
7. Europe Micro Catheters and Micro Guidewires Market Analysis - By Product Type
8. Europe Micro Catheters and Micro Guidewires Market Analysis - By Indication
9. Europe Micro Catheters and Micro Guidewires Market Analysis - By End User
10. Europe Micro Catheters and Micro Guidewires Market - Country Analysis
11. Impact of COVID-19 Pandemic on Europe Micro Catheters and Micro Guidewires Market
12. Microcatheters and Micro Guidewires Market - Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Companies Mentioned
- B. Braun Melsungen AG
- BD
- Boston Scientific Corporation
- Cardinal Health Inc
- Cook Medical LLC
- Medtronic
- Stryker Corporation
- Teleflex Incorporated
- Terumo Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 113 |
| Published | July 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 348.92 Million |
| Forecasted Market Value ( USD | $ 488.34 Million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 9 |
