The micro catheters and micro guidewires market in APAC is expected to grow from US$ 279.91 million in 2021 to US$ 422.26 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.
The China, Japan, and India are major economies in APAC. Growing number of product approvals and launches is the major factor driving the growth of APAC micro catheters and micro guidewires market. Extended functionalities and technologies incorporated in new devices are contributing to the rise in demand for micro catheters and micro guidewires. In March 2021, Transit Scientific received CE approval for its XO CrossO Microcatheter platform. The new microcatheter incorporates novel non-tapered design, which offers better functionality. Moreover, the new platform delivers better torque response, trackability, and new pushability levels during a surgical procedure. Further, Also, in May 2019, Embolx, Inc. introduced Sniper K-tip microcatheter under sniper balloon occlusion microcatheter. This newly introduced microcatheter is especially designed for an arterial embolization procedure. Furthermore, in August 2020, Scientia Vascular received FDA approval for its Zoom Wire 14 guidewire. The new device incorporates capabilities to gain access of nervous system during hemorrhagic and ischemic stroke and other associated vascular procedures. Thus, the growing number of product launches and approvals are estimated to offer lucrative opportunities for the growth of the micro catheter and micro guidewires market during the forecast period, which is further anticipated to drive the market in APAC.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 - Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
APAC Micro Catheters and Micro Guidewires Market Segmentation
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
APAC Micro Catheters and Micro Guidewires Market -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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Indication, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
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Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
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The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
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