Cardiology Segment to Dominate APAC Micro Catheters and Micro Guidewires Market during 2020-2028
According to a new market research study on “APAC 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$ 422.26 million by 2028 from US$ 279.91 million in 2021. The market is estimated to grow at a CAGR of 6% from 2021 to 2028. The report provides trends prevailing in the APAC micro catheters and micro guidewires market along with the drivers and restraints pertaining to the market growth. Growing number of product approvals and launches is the major factor driving the growth of APAC micro catheters and micro guidewires market. However, product recall and stringent regulatory requirement hinder the growth of APAC micro catheters and micro guidewires market.
Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. The outbreak of the COVID-19 pandemic has come from China. The spread of infection has affected various Asian countries such as India, South Korea, Australia, Malaysia, Singapore, and others. Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. Currently, India is the second worse hit country worldwide. Many measures have been implemented to contain the spread of COVID-19, which have resulted in significant operational disruption for many companies including in the healthcare industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure, restrictions imposed by hospitals to the suppliers, decreasing in demand of neurovascular devices and others. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent the disease transmission. These restrictive measures are anticipated to impact the supply chain and the availability of medical devices in these countries. It has affected disposable incomes and has also resulted in unemployment. Furthermore, business strategies such as acquisitions, mergers, and partnerships are adversely affected by the imposition of complete lockdown. Such obstructions in business activities are projected to hamper the adoption of various technologically advanced healthcare systems, including microcatheters and micro guidewires.
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; Tokai Medical Products, Inc; are among the leading companies in the APAC 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 2020, Tokai Medical Products, Inc. received CE approval for its balloon occlusion catheter. The device is especially designed for resuscitative endovascular balloon occlusion of the aorta.
Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. The outbreak of the COVID-19 pandemic has come from China. The spread of infection has affected various Asian countries such as India, South Korea, Australia, Malaysia, Singapore, and others. Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. Currently, India is the second worse hit country worldwide. Many measures have been implemented to contain the spread of COVID-19, which have resulted in significant operational disruption for many companies including in the healthcare industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure, restrictions imposed by hospitals to the suppliers, decreasing in demand of neurovascular devices and others. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent the disease transmission. These restrictive measures are anticipated to impact the supply chain and the availability of medical devices in these countries. It has affected disposable incomes and has also resulted in unemployment. Furthermore, business strategies such as acquisitions, mergers, and partnerships are adversely affected by the imposition of complete lockdown. Such obstructions in business activities are projected to hamper the adoption of various technologically advanced healthcare systems, including microcatheters and micro guidewires.
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; Tokai Medical Products, Inc; are among the leading companies in the APAC 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 2020, Tokai Medical Products, Inc. received CE approval for its balloon occlusion catheter. The device is especially designed for resuscitative endovascular balloon occlusion of the aorta.
The report segments the APAC Micro Catheters and Micro Guidewires Market as follow
APAC Micro Catheters and Micro Guidewires Market - By Product Type
- Micro Catheter
- Micro Guidewire
APAC Micro Catheters and Micro Guidewires Market - By Indications
- Cardiology
- Neurology
- Oncology
- Intravascular Embolization
- Transcatheter Arterial Chemo Embolization
- Urology
- Otolaryngology
- Others
APAC Micro Catheters and Micro Guidewires Market - By End-user
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
APAC Micro Catheters and Micro Guidewires Market - By Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of APAC
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- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region
Table of Contents
1. Introduction
3. Research Methodology
4. APAC Micro Catheters and Micro Guidewires - Market Landscape
5. APAC Micro Catheters and Micro Guidewires Market - Key Industry Dynamics
6. Micro Catheters and Micro Guidewires Market - APAC Analysis
7. APAC Micro Catheters and Micro Guidewires Market Analysis - By Product Type
8. APAC Micro Catheters and Micro Guidewires Market Analysis - By Indication
9. APAC Micro Catheters and Micro Guidewires Market Analysis - By End User
10. APAC Micro Catheters and Micro Guidewires Market - Country Analysis
11. Impact of COVID-19 Pandemic on APAC Micro Catheters and Micro Guidewires Market
12. APAC 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
- Tokai Medical Products, Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 121 |
| Published | July 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 279.91 Million |
| Forecasted Market Value ( USD | $ 422.26 Million |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 10 |
