Saturday, 27 July 2024
According to our latest study on “Europe & Middle East & Africa Cardiac Microcatheters Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Indication and End User,” the market is expected to grow from US$ 95.76 million in 2022 to US$ 136.05 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2023 to 2028. The report highlights the key factors driving the Europe & Middle East & Africa cardiac microcatheters market growth and prominent players with their developments in the Europe & Middle East & Africa cardiac microcatheters market.
The Europe & Middle East & Africa cardiac microcatheters market, based on indication, is bifurcated into general peripheral vascular and coronary. The coronary segment held a larger share of the market, and the same segment is expected to register a higher CAGR in the coming years. Cardiovascular diseases are a group of disorders that are associated with abnormalities in the heart and blood vessels. This category includes a few 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 is steadily growing across Europe and MEA; also, the number of deaths caused by the condition is rising rapidly. The use of microcatheters as a coronary interventional tool for a therapeutic approach is complex. Coronary interventions such as bifurcation lesions, ostial location, tortuous anatomy, angled takeoffs, coronary calcification, and chronic total occlusion (CTO) percutaneous coronary intervention (PCI) are a few methods that are increasingly preferred by cardiologists across the regions. During the treatment of such complex lesions, microcatheters play an essential part in the tool kit, with both single-lumen and double-lumen microcatheters (DLMs) having specific niche areas. The selection of microcatheters involves a detailed understanding of the microcatheter specification, lesion anatomy, lesion location, vessel tortuosity and trajectory, and crossing techniques.
Source: The Insight Partners Analysis
The World Health Organization (WHO) stated that cardiovascular diseases (CVDs) are the most prominent cause of morbidity and mortality in the world. CVDs include cerebrovascular disease, coronary heart disease, rheumatic heart disease, etc. Tobacco consumption, unhealthy diet, and physical inactivity increase the risk of heart attacks and strokes; these are the major lifestyle factors causing CVDs and related difficulties. Further, the other risk factors related to CVDs are high blood pressure, diabetes, and elevated cholesterol levels. Heart attacks and strokes are mainly caused by fatty deposits that block blood vessels, thereby disrupting blood flow to the heart or brain. According to a study, “Cardiovascular Diseases in Central and Eastern Europe,” published in 2020, cardiovascular diseases are the leading cause of death in Europe, accounting for 45% of all deaths. There is a high prevalence of cardiovascular risk factors in Central and Western Europe, owing to smoking habits and heavy drinking consumption rates among men. More than 4 million Europeans die yearly from cardiovascular diseases, mainly coronary artery disease and stroke.
The prevalence of CVD is high in the Middle East; therefore, various interventions such as health education, lifestyle counselling, screening, and treatment are required to prevent CVD in this region. According to the World Heart Federation, cardiovascular disease is the primary cause of death in the Middle East & North Africa, accounting for more than a third of all deaths or 1.4 million people annually. Furthermore, CVD deaths have increased by 48% over the past 30 years, which accounted for 40% and 10% of deaths in Oman and Somalia, respectively. In 2021, age-standardized CVD mortality rates in the Middle East and North Africa ranged from 134.2 to 600.2 per 100,000 of the population. Therefore, the high prevalence of cardiovascular diseases in Europe and Middle East & Africa is boosting the Europe & Middle East & Africa cardiac microcatheters market growth.
The COVID-19 pandemic has significantly impacted the cardiac microcatheters market. The European economy was severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK were among the most affected European countries. Europe experienced more severe repercussions of the COVID-19 pandemic in 2020 than the global economy. Furthermore, it experienced a slower pace of recovery in 2021. The pandemic caused an unprecedented health crisis in European economies. The limited availability of resources, including trained staff and medical equipment, and the burden of noncommunicable diseases harm the overall healthcare system in the region. In 2020, the COVID-19 pandemic had a significant impact on the delivery and accessibility of social services, education, health & nutrition, healthcare spending, and well-being- & development-related businesses in the Middle East & Africa. Owing to the region's dependence on trade and tourism and struggles with substantial youth unemployment, the crisis led to serious long-term effects.
The onset of the COVID-19 outbreak has impacted the Europe and Middle East & Africa cardiac microcatheters market, as these regions faced challenges associated with limited intensive care unit (ICU) beds and ventilator spaces. During the pandemic, the guidelines for cardiovascular procedures were divided into three categories—non-urgent/elective procedures, semi-urgent procedures, and urgent/non-elective procedures. Electoral procedures have been suspended or postponed, while non-electoral procedures have been prioritized. All coronary procedures were suspended in Europe and Middle East & Africa during the COVID-19 pandemic. According to the study "Cardiovascular Risk Factors Among Patients Infected with COVID-19 in Saudi Arabia," published in April 2021, patients infected with COVID-19 were likely to develop cardiovascular diseases. The main risk factors associated with these diseases in COVID-19 patients were pneumonia and longer hospital stays. Teaching centers and elective procedures had significantly dropped, while primary PCI (PPCI) was only partially affected during the pandemic. The largest reduction was seen in coronary angiography (CA) by 63.5%, while elective PCI and primary PCI (PPCI) were reduced by 58% and 2.6%, respectively. In the teaching centers, overall procedures decreased by 60.5%, electoral procedures by 67.2%, and PPCI by 4.5%. In contrast, in non-teaching centers, overall and elective procedures were reduced by 37.4% and 43.1%, respectively, and PPCI increased by 2%. Therefore, the COVID-19 pandemic had a negative impact on Europe and Middle East & Africa cardiac microcatheter market growth.
However, pre-emptive action by governments helped flatten the infection curve in their respective countries across Europe and Middle East & Africa. With the gradual recovery of the regions from the COVID-19 pandemic, authorities worked on improving their resilience and digitally efficient healthcare systems. Furthermore, the trend of consumerization in healthcare provides greater authority and decision-making power to patients, which is driving the paradigm shift toward value-based care in the regions, thereby providing growth opportunities for the Europe and Middle East & Africa cardiac microcatheters market.
Boston Scientific Corp, Teleflex Inc, Medtronic Plc, OrbusNeich Medical Group Holdings Ltd, Asahi Intecc USA Inc, Merit Medical Systems Inc, Nipro Corp, Terumo Corp, Tokai Medical Products Inc, and Integer Holdings Corp are among the leading companies operating in the Europe & Middle East & Africa cardiac microcatheters market.
Based on indication, the Europe & Middle East & Africa cardiac microcatheters market is divided into general peripheral vascular and coronary. In 2022, the coronary segment held a larger market share of the Europe & Middle East & Africa cardiac microcatheters market, and the same is expected to register a higher CAGR during the coming years. The Europe & Middle East & Africa cardiac microcatheters market, based on end user, is segmented into hospitals, specialty clinics, and ambulatory surgical centers. In 2022, the hospitals segment held the largest market share in the Europe & Middle East & Africa cardiac microcatheters market; however, the specialty clinics segment is expected to record the highest CAGR during the coming years. Based on geography, the Europe & Middle East & Africa cardiac microcatheters market is bifurcated into Europe (Germany, UK, France, Italy, Spain, and Rest of Europe) and Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa).
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