Asia Pacific Micro Catheters and Micro Guidewires Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Indication, and End User

Asia Pacific Micro Catheters and Micro Guidewires Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Indication, and End User

  • July 2021 •
  • 121 pages •
  • Report ID: 6134243 •
  • Format: PDF
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.

Rising demand for minimally invasive procedures is also bolstering the growth of the industry.A minimally invasive medical procedure is generally carried out by inserting a small device or an implant in human body through an incision or anatomical opening.

These procedures are being performed widely during the recent years.Since these incisions are tiny, a patient recovers at a faster rate comparatively, with less discomfort.

A few benefits of a minimally invasive procedure are a few small cuts; less trauma to the muscles, nerves, and tissues; less bleeding and scarring; less tissue injury; less trauma to organs; less pain; less hospital stay; and faster oral intake. In addition, rising awareness about these procedures and the availability of reimbursement for it are likely to foster the demand for minimally invasive procedure.

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 cardiology segment led the micro catheters and micro guidewires market based on indication in 2020.Cardiovascular diseases are the group of disorders which are associated to the abnormalities in heart and blood vessels.

This category includes some of the commonly observed heart conditions such as cerebrovascular disease, coronary heart disease, peripheral arterial disease, deep vein thrombosis and pulmonary embolism, and congenital heart disease.The prevalence of cardiovascular diseases in steadily growing, also the deaths caused by the condition are also significantly higher.

Certain factors such as smoking, mental stress, sedentary lifestyle, alcoholism, and unhealthy diet are prominently responsible to cause cardiovascular condition, which will further accelerate the condition prevalence, which is ultimately drives the micro catheters and micro guidewires market.

The overall APAC micro catheters and micro guidewires market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the APAC micro catheters and micro guidewires market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC micro catheters and micro guidewires market. B. Braun Melsungen AG; BD; Boston Scientific Corporation; Cardinal Health Inc; Cook Medical LLC; Medtronic; Stryker Corporation; Teleflex Incorporated; Terumo Corporation; and Tokai Medical Products, Inc are among a few players operating in the APAC micro catheters and micro guidewires market
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