Global Steerable Medical Devices Market Analysis and Forecast From 2020 – 2029: Steerable Instruments, Merit Medical Systems, Integer Holdings Corporation

Steerable Medical Devices Market

In 2018, the global steerable medical devices market was valued at USD 2394 million and is expected to grow at a CAGR of 7.7% during the forecast period. The electrophysiology market is projected to reach around USD 8,289 million by 2026 at a CAGR of 12.87% during the forecast period.

Steerable medical devices are extensively used for gaining access to different locations in the human body during invasive and interventional and diagnostic surgeries. The steerable medical devices market is majorly driven by the rising surgical procedures, growing preference for minimally invasive techniques, and technological advancements across the globe.

The electrophysiologysegment is grabbing the highest shares in the medical devices market and will continue the same during the forecast period. This can be attributed to the rising prevalence of cardiac disorders, which is subsequently boosting the demand for steerable medical devices. Globally, cardiovascular diseaseis one of the major causesof death. As per the WHO, around 17.9 million people died from cardiovascular diseases in 2016, which represents about 31% of the global deaths. Out of which, around 85% ofdeaths are caused due to heart attack and strokes. To attend to the dire situation, the leading players are continuously working to develop technologically advanced electrophysiology devices. For instance, Medtronic developed a 4 mm RF Conductr (Multi-Curve) Series Ablation Catheters, 5 mm RF Conductr (Multi-Curve) Series Ablation Catheters, RF Contactr (Dual-Curve) Series Ablation Catheters, and BLAZER PRIME Temperature Ablation Catheter. Similarly, St Jude launchedFlexAbility Ablation Catheter, Sensor Enabled, and EnSite Precision Cardiac Mapping System. Lastly,Boston Scientific Corporation developedIntellaTip MiFi XP Catheter, Blazer II HTD temperature ablation catheter, and Chilli II cooled ablation catheter. Hence, therapid technological advancements in the field of electrophysiology and rising demand for electrophysiology devices for the treatment of cardiac disorders are likely to bolster the market growth to some extent.

Steerable catheters is projected to be the fastest-growing segment as it is extensively used in a wide range of surgical and interventional procedures. Currently, Asia Pacific is grabbing the highest shares in the steerable medical devices market, which is about 29% of the global market share. Recently, scientists have developed a very small magnetic steerable catheter for minimally invasive surgeries. Due to its variable stiffness, surgeons can perform more complex movements with a low associated risk of injury.The steerable catheters segment is majorly driven by shifting preference towards minimally invasive therapies, rising prevalence of cardiovascular, neurovascular, and urology disorders, and increasing expenditure power.

North America is dominating the steerable medical devices market and will continue the same during the forecast period. This can be attributed to the rising prevalence of cardiovascular diseases,growing surgical procedures, shifting preference towards minimally invasive surgeries, technological advancements, and the presence of leading market players. The country is also backed with the presence of leading market contributing countries, such as the U.S., Canada, and Mexico. The U.S. is grabbing the largest shares in the steerable medical devices market on account of the risingprevalence of heart diseases, expanding healthcare infrastructure, and government support.

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The Major Prominent Players Covered in this Report:
Steerable Instruments, Merit Medical Systems, Integer Holdings Corporation, DEAM, DePuy Synthes, Abbott, OSCOR Inc, Boston Scientific Corporation, and Biosense Webster Inc.

Steerable Medical Devices Market Segmentation-
By Type of Devices- Steerable Balloon Catheter, Steerable needles and guidewires, Steerable Catheters, Steerable Sheath, Others,
By Application- Electrophysiology, Endoscopy, Urology and Gynecology, General and Vascular Surgery, Others

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Developments - 
On 24th May 2016: Boston Scientific Corporation collaborated with Philips and Siemens for developing cardiovascular and imaging technologies. The collaboration of the companies will help utilize the iLabUltrasound Imaging System of the Philips Allura Xper.

On 24th January 2020:Integer Holdings Corporation,a pioneer in medical device outsourcing, announced its establishment of the implantable pulse generator (IPG), clean room assembly, and testing capability at Tijuana-North. The facility supports OEM customers andis the first-Class III active implantable medical device manufacturing site in Mexico, which received the FDA approval. The facility integrates Class 7 and Class 8 cleanrooms.

Key Steerable Medical Devices Market Trends:
- The report identifies, determines, and forecasts the Global Steerable Medical Devices Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Steerable Medical Devices Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Steerable Medical Devices Market.

Key Questions Answered in The Report:
What will the Steerable Medical Devices market growth rate?
What are the key factors driving the global Steerable Medical Devices market?
Who are the key manufacturers in the Steerable Medical Devices market space?
What are the market opportunities, market risk, and market overview of the Steerable Medical Devices market?
What are sales, revenue, and price analysis of top manufacturers of the Steerable Medical Devices market?
Who are the distributors, traders, and dealers of the Steerable Medical Devices market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by regions of Steerable Medical Devices industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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