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

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

  • July 2021 •
  • 113 pages •
  • Report ID: 6134296 •
  • Format: PDF
The micro catheters and micro guidewires market in Europe is expected to grow from US$ 348.92 million in 2021 to US$ 488.34 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.

Significantly growing prevalence of cardiovascular diseases is also bolstering the growth of the industry.Cardiovascular diseases (CVDs) are likely to remain the major cause of morbidity and mortality across the world.

Heart failure, stroke, rheumatic heart disease, aortic aneurysm, and peripheral artery disease are among the most common CVDs.A few factors such as unhealthy diet adoption, tobacco consumption, sedentary lifestyle, and alcoholism are prominently contributing to the growing incidence of CVDs.

In addition, according to a report published by the British Heart Association in 2020, around 0.6 million deaths were reported due to CVDs in the UK. Also, the same study stated that the circulatory systems disease and chronic rheumatic heart disease held major share in the overall mortality caused by CVDs in the country. According to the European Cardiovascular Disease Statistics 2019, every year CVDs cause 3.9 million deaths in Europe and more than 1.8 million deaths in the European Union (EU). The CVD accounts for 45.0% of all deaths in Europe and 37.0% of all deaths in the EU. The high prevalence of CVDs across the world prominently boosts the number of heart procedures.

The European economy is severely affected due to the exponential growth of COVID-19 cases in the region.Spain, Italy, Germany, France, and the UK are among the most affected European countries.

Regulatory bodies in the region are taking preventive measures such as complete quarantine and shutting down all business operations.In March 2020, the European Medicines Agency established a managing committee to deal with the impact of COVID-19 on the supply chain of medicines and devices.

Further, once the COVID-19 pandemic subsides there may be constraints in the capacities and financial resources of hospitals and other healthcare providers to perform elective surgeries procedures that had been deferred due to COVID-19, which could have an adverse effect on demand for neurovascular products and is likely to hamper the growth of the company.Many hospitals in Europe have also implemented restrictions on vendor access, potentially limiting our ability to provide product and case support.

According to a report published in Europe Journal of Neuro-Interventional Surgery “European Society of Minimally Invasive Neurological Therapy (ESMINT) recommendations for optimal interventional neurovascular management in the COVID-19 era” stated that the market for neurovascular devices has declined due to many reasons. The decreasing number of attending medical staff in the hospital is leading to cancel all unnecessary meeting, doctor’s appointment, and events. Due to the fear of infection in patients as well as doctors, people are refraining from hospitals and avoiding neurovascular surgeries. These measures are likely to hamper the overall manufacturing and marketing of neurovascular devices, which will have an adverse impact on market growth.

The cardiology segment led the micro catheters and micro guidewires market based on indication type 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 Europe 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 Europe 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 expert 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 Europe 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; and Terumo Corporation are among a few players operating in the Europe micro catheters and micro guidewires market
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