The Global Steerable Sheaths Market size is expected to reach $1.2 billion by 2031, rising at a market growth of 7.0% CAGR during the forecast period.
Europe is known for its advanced healthcare infrastructure and a strong emphasis on innovation. Technological advancements in the design and functionality of steerable sheaths have made them more precise, efficient, and safer for various medical procedures. Thus, the Europe region acquired 31.4% revenue share in the market 2023. This has contributed to the increasing adoption of this among European healthcare professionals. Therefore, these aspects can assist in the expansion of the segment.
These are utilized in neurovascular interventions aimed at treating ischemic and hemorrhagic strokes. These procedures often involve using catheters and guidewires to access and navigate the intricate vascular network of the brain.
Additionally, as per the World Health Organization, every year, an estimated 17 million people globally die of cardiovascular diseases (CVD). Moreover, according to the Saudi Arabia government, over 30% of Saudi Arabia’s adult population (18 years and older) were at risk of developing CVD in 2022.
However, developing innovative steerable sheaths requires extensive research to explore new technologies, materials, and design concepts. This initial phase involves investing in research teams, laboratory facilities, and prototyping equipment. Hence, these aspects can limit the expansion of the market.
Capital expenditures on medical devices and equipment, including steerable sheaths, were deferred or scaled back as healthcare organizations focused on addressing immediate needs and financial constraints. The shift in healthcare spending priorities further dampened demand for steerable sheaths during the pandemic. Thus, the COVID-19 pandemic had a negative impact on the steerable sheaths market.
Europe is known for its advanced healthcare infrastructure and a strong emphasis on innovation. Technological advancements in the design and functionality of steerable sheaths have made them more precise, efficient, and safer for various medical procedures. Thus, the Europe region acquired 31.4% revenue share in the market 2023. This has contributed to the increasing adoption of this among European healthcare professionals. Therefore, these aspects can assist in the expansion of the segment.
These are utilized in neurovascular interventions aimed at treating ischemic and hemorrhagic strokes. These procedures often involve using catheters and guidewires to access and navigate the intricate vascular network of the brain.
Additionally, as per the World Health Organization, every year, an estimated 17 million people globally die of cardiovascular diseases (CVD). Moreover, according to the Saudi Arabia government, over 30% of Saudi Arabia’s adult population (18 years and older) were at risk of developing CVD in 2022.
However, developing innovative steerable sheaths requires extensive research to explore new technologies, materials, and design concepts. This initial phase involves investing in research teams, laboratory facilities, and prototyping equipment. Hence, these aspects can limit the expansion of the market.
Capital expenditures on medical devices and equipment, including steerable sheaths, were deferred or scaled back as healthcare organizations focused on addressing immediate needs and financial constraints. The shift in healthcare spending priorities further dampened demand for steerable sheaths during the pandemic. Thus, the COVID-19 pandemic had a negative impact on the steerable sheaths market.
Driving and Restraining Factors
Drivers- Advancements in minimally invasive procedures
- Expanding applications in neurovascular interventions
- Growing incidence of cardiovascular diseases
- High development costs and investment requirements
- Limited availability of skilled workforce and expertise
- Growing awareness and acceptance of interventional radiology procedures
- Rapid growth of ambulatory surgical centers (ASCs)
- Regulatory challenges and compliance hurdles
- Intellectual property protection and patent issues
Type Outlook
Based on type, the market is bifurcated into single-use steerable sheaths and reprocessed steerable sheaths. The single-use steerable sheaths segment held 89.2% revenue share.in the steerable sheaths market in 2023. Single-use steerable sheaths offer cost-efficiency and operational benefits compared to reusable sheath systems.Application Outlook
On the basis of application, the market is divided into electrophysiology (EP) procedures, interventional cardiology procedures, and peripheral vascular procedures, and others. In 2023, the interventional cardiology procedures segment witnessed 27.3% revenue share in the market. Cardiovascular diseases (CVDs) remain a leading cause of morbidity and mortality globally, driving the demand for interventional cardiology procedures.
End Use Outlook
Based on end-use, the market is divided into hospitals & clinics and ambulatory surgical centers. The hospitals and clinics segment recorded 72.6% revenue share in the market in 2023. Hospitals and clinics are increasingly adopting minimally invasive procedures as preferred treatment modalities due to their numerous advantages, including reduced recovery times, shorter hospital stays, and lower procedural risks than traditional open surgeries.Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired 31.4% revenue share in the market. Europe is known for its advanced healthcare infrastructure and a strong emphasis on innovation. Technological advancements in the design and functionality of steerable sheaths have made them more precise, efficient, and safer for various medical procedures.List of Key Companies Profiled
- Medtronic PLC
- Stryker Corporation
- Boston Scientific Corporation
- Abbott Laboratories
- Teleflex Incorporated
- Integer Holdings Corporation
- Merit Medical Systems, Inc.
- AngioDynamics, Inc.
- Johnson & Johnson
- Obex Medical
Market Report Segmentation
By Type- Single-Use Steerable Sheaths
- Reprocessed Steerable Sheaths
- Electrophysiology (EP) Procedures
- Interventional Cardiology Procedures
- Peripheral Vascular Procedures
- Others
- Hospitals & Clinics
- Ambulatory Surgical Centers
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Steerable Sheaths Market by Type
Chapter 5. Global Steerable Sheaths Market by Application
Chapter 6. Global Steerable Sheaths Market by End-use
Chapter 7. Global Steerable Sheaths Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Medtronic PLC
- Stryker Corporation
- Boston Scientific Corporation
- Abbott Laboratories
- Teleflex Incorporated
- Integer Holdings Corporation
- Merit Medical Systems, Inc.
- AngioDynamics, Inc.
- Johnson & Johnson
- Obex Medical
Methodology
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