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Market Overview of Global Guiding Catheters market:
According to our latest research, the global Guiding Catheters market looks promising in the next 5 years. As of 2022, the global Guiding Catheters market was estimated at USD 1161.59 million, and it's anticipated to reach USD 1687.65 million in 2028, with a CAGR of 6.42% during the forecast years.
The guiding catheter provides support for device advancement (stents, balloons, etc.). It is the conduit for device and wire transport, a vehicle for contrast injection and takes measurements. Guiding catheters are available in a variety of shapes and sizes to fit a variety of patient anatomies.
The impact of the COVID-19 epidemic on the industrial chain
First of all, due to the impact of the epidemic, it is difficult to purchase and transport supplies of raw materials and equipment in a timely manner, and upstream enterprises affect the work progress of midstream and downstream enterprises. Secondly, manufacturers in the catheter industry are affected to varying degrees. Enterprises re-examine their investment strategies. They will re-establish production plans based on the current epidemic situation and market supply and demand. The epidemic will have an impact on the cash flow of small and medium-sized enterprises in the industry, which in turn will affect Operating conditions. At the same time, due to the delay in production and delivery due to poor logistics, if the customer's delivery time requirements do not meet the contract requirements, it may lead to customer loss. Finally, the epidemic affects downstream demand. The downstream application of guiding catheters is mainly in hospitals, and the number of related operations decreased during the epidemic. Because the epidemic is highly contagious, medical staff have a high risk of infection. If patients really need vascular interventional surgery, they must ensure that they have no pneumonia-related symptoms and pass nucleic acid testing. The requirements for the hospital's surgical environment and medical conditions are also further improved.
Guiding catheter product quality requirements are high, and potential liability risks are high
Guiding catheters are interventional medical devices. As medical devices that directly contact important organs such as the human heart and aorta, there are certain risks in clinical application. Therefore, product quality is under the key supervision of various countries and regions. If there is a major quality problem with the product, if the patient has an accidental risk accident after use, if the patient files a product liability claim, or a legal lawsuit or arbitration occurs as a result, it may cause adverse effects on the business, operation, finance and reputation of the company in the industry impact, including defense costs, risk of losing the lawsuit, and contingent compensation obligations.
Strict industry regulation
Under normal circumstances, the governments of various countries implement classified management and production licensing systems for the medical device industry. Guiding catheters as interventional medical device products have relatively high risks, and usually take particularly strict measures to control management to ensure their safety and effectiveness. Implement the strictest product registration management.
Specifically, in the United States, the European Union and other countries or regions, the catheter industry will also be guided as a key regulatory industry, and strict licensing or certification systems will be implemented for medical device products. US medical devices are regulated by the US Food and Drug Administration (FDA). The medical device market in EU countries is mainly under the unified supervision of the European Medicines Agency (EMA). The European Union implements mandatory CE certification for medical devices and classifies them according to the risk attributes of medical device products. The current main medical devices in the EU Regulatory regulations include Active Implantable Medical Device Directive (AIMD, Council Directive 90/385/EEC), Medical Device Directive (MDD, Council Directive 93/42/EEC), etc. Guide catheter products are Class III medical devices in the European Union. In China, guiding catheter products need to comply with relevant regulations such as the "Regulations on the Supervision and Administration of Medical Devices" (Decree No. 680 of the State Council), and the "Measures for the Supervision and Administration of Medical Device Operations" (Order No. 8 of the State Food and Drug Administration).
Region Overview:
North America was the largest revenue market with a market share of 38.18% in 2017 and 37.32% in 2022, a decrease of 0.85%. In 2022, Europe market share was 34.88%, ranking second.
Company Overview:
Medtronic plc is an American medical device company. The company's operational and executive headquarters are in Minneapolis, Minnesota, and its acquisition of Irish-based Covidien in 2015. While it primarily operates in the United States, it operates in more than 150 countries and employs over 90,000 people. It develops and manufactures healthcare technologies and therapies.
B. Braun is a German medical and pharmaceutical device company, which currently has more than 63,000 employees globally, and offices and production facilities in more than 60 countries. Its headquarters are located in Melsungen, in central Germany. The company was founded in 1839 and is still owned by the Braun family.
The industry concentrate rate is relativity high. The market share of the top three companies in 2021 was 45.62%. The top three companies are Medtronic, B. Braun and Terumo Medical, with the revenue market share of 21.56%, 14.47% and 9.59% in 2021.
Segmentation Overview:
The guide catheter can be divided into 5F (0.058"), 6F (0.071"), 7F (0.081"), 8F (0.090") according to the size of the inner diameter.
Among different product types, 6F (0.071") segment is anticipated to contribute the largest market share in 2028.
Application Overview:
Guiding catheters can be divided into hospitals, specialist clinics, and ambulatory surgery centers according to different application scenarios.
The market's largest segment by application is the segment Hospitals, with a market share of 87.11% in 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Guiding Catheters market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Guiding Catheters Market Report:
Market Size Estimates: Guiding Catheters market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Guiding Catheters market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Guiding Catheters market
Segment Market Analysis: Guiding Catheters market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Guiding Catheters market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Guiding Catheters Market: Revenue and sales volume of major countries in each region
Guiding Catheters Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Guiding Catheters market in major regions.
Guiding Catheters Industry Value Chain: Guiding Catheters market raw materials & suppliers, manufacturing process, distributors, downstream customers
Guiding Catheters Industry News, Policies & Regulations
Key players in the global Guiding Catheters market are covered in Chapter 12:
Terumo Medical
B. Braun
Cordis
Asahi Intecc
Merit Medical Systems
Medtronic
Wellinq
LEPU Medical
Boston Scientific
NIPRO
Alvimedica
Cook Medical
In Chapter 2 and Chapter 15.1, based on types, the Guiding Catheters market from 2018 to 2028 is primarily split into:
5F (0.058")
6F (0.071")
7F (0.081")
8F (0.090")
In Chapter 3 and Chapter 15.2, based on applications, the Guiding Catheters market from 2018 to 2028 covers:
Hospitals
Specialty Clinics
Ambulatory Surgery Centers
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Guiding Catheters market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028