Guide Extension Catheter Market Worth $376.6 Million By 2030

October 2022 | Report Format: Electronic (PDF)

Guide Extension Catheter Market Growth & Trends

The global guide extension catheter market is anticipated to reach USD 376.6 million by 2030, registering a CAGR of 9% during the forecast period, according to a new report by Grand View Research, Inc. Increase in patients with cardiac disorders such as angina pectoris and myocardial infarction, as well as rise in inclination toward minimally invasive procedures are the key factors anticipated to drive the guide extension catheter market growth.

The COVID-19 outbreak in the year 2020 was expected to have a negative impact on the guide extension catheter market. This is due to the decrease in the number of coronary surgical procedures. Both coronary angiography and PCI volumes decreased by 64.0% in April 2020 as compared to April 2019 according to NCBI in 2021. However, due to the ease of restriction, countries have resumed elective procedures, suggesting that the market will keep growing during the forecasted period. These qualities are anticipated to create lucrative market growth opportunities.

CVDs have become one of the major causes of mortality and morbidity worldwide during the last three decades. As per the CDC in 2021, heart disease is a leading cause of death in both sexes and members of the majority of the racial & ethnic groups in the U.S. Moreover, CVD claims 1 life every 34 seconds in the U.S. Guide extension catheters increase guide back-up support and are crucial in complex PCI procedures. Thus, increasing cases of CVDs globally are anticipated to drive the number of cardiac catheterizations, angioplasty, and Percutaneous Coronary Intervention (PCI), thereby contributing to the market growth.

Moreover, technological advancements in guide extension catheters can support professionals in identifying patients with a high risk of disease which is anticipated to stimulate market growth. For instance, in May 2019, Medtronic announced the launch of Telescope (TM) Guide Extension Catheter, a newly designed catheter to provide additional backup support and access to distal lesions. As a result, the market is expected to grow during the forecast period.

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Guide Extension Catheter Market Report Highlights

By material, the stainless steel segment dominated the market with 76.81% of the market share in 2021. Since, stainless steel is a highly preferred raw material during cardiac procedures owing to its characteristics such as high corrosion resistance coupled with antibacterial, non-magnetic, and non-staining properties
Based on the size, others (0.088”, 0.071”, and 0.070”) segment dominated the market by 44.55% share in 2021. Since, larger diameter catheters are required to smoothly channel stents, balloons, and other cardiac interventional devices into place
Based on the end-use, the hospital segment held more than 40.89% share in 2021. The key factors attributed to the large share include the increasing prevalence of cardiovascular disorders, the rapidly growing geriatric population, and technological advancements
Asia-Pacific is expected to witness the fastest growth for guide extension catheters during the forecast period. Growing awareness levels, increasing disposable income, and rising incidence rate of chronic conditions are the few factors promoting growth