Market Overview:
The global steerable medical devices market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing incidence of cardiovascular diseases, technological advancements in steerable medical devices, and rising demand for minimally invasive surgeries. Based on type, the global steerable medical devices market is segmented into steerable needles and guidewires, steerable catheters, steering sheaths, and others. The catheter segment is expected to account for the largest share of the global market in 2018. This can be attributed to the growing demand for minimally invasive surgeries that require use of catheters. Based on application, the global steered medical device market is segmented into electrophysiology (EP), ablation procedures (including radiofrequency ablation [RFA] and cryoablation), interventional radiology (IR), interventional cardiology (IC), urology and gynecology surgery procedures (excluding hysterectomy), general surgery procedures including vascular surgery procedures such as carotid endarterectomy or percutaneous transluminal angioplasty/stenting [PTA]), other applications such as neurosurgery and thoracic surgery; and by region North America, Latin America Europe Asia Pacific Middle East & Africa).
Product Definition:
A steerable medical device is a tool used in minimally invasive surgery to help a surgeon navigate and control the device from outside of the patient's body. Steerable medical devices are often used to remove tumors or other tissue, and can be equipped with cameras or other instruments to help the surgeon see what they're doing. The importance of steerable medical devices lies in their ability to provide precision surgery without having to make large incisions in the patient's body. This results in less pain, scarring, and risk of infection for the patient.
Steerable Needles And Guidewires:
Steerable needles and guidewires are medical devices used by healthcare professionals to find the right treatment course for a particular disease or condition. They are flexible and cylindrical in shape with one or more sharpened ends, which can be bent at will. The device is mostly used by radiologists for scanning purposes but it also finds its use in angiography, cardiac electrophysiology testing, interventional radiology procedures as well as catheter management procedures.
Steerable Catheters:
A steerable catheter is a flexible, hollow tube that can be inserted into the body. It allows doctors and nurses to move the device where needed within the body. The doctor or nurse controls the movement of a steerable catheter through manual control or by using an attached remote control device.
The global steerable medical devices market size was valued at USD 469 million in 2016.
Application Insights:
The electrophysiology segment dominated the global market in 2017. This can be attributed to the increasing number of procedures such as EKG, ECG, and TEG testing. Moreover, an increase in cardiac surgeries is expected to boost product demand over the forecast period. Steerable catheters are used for interventional cardiology applications due to their ability to help perform complex procedures with ease and accuracy. The introduction of advanced steerable medical devices has led to improved outcomes for patients suffering from cardiovascular diseases by enabling them perform complex surgical procedures with greater precision and less risk than conventional techniques do.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing R&D investments by various companies and rising adoption of advanced technologies across this region. Moreover, growing target population base with higher disposable income levels and favorable reimbursement policies are also contributing toward growth in this region.
Growth Factors:
- Increasing demand for minimally invasive surgeries: The global market for steerable medical devices is expected to grow at a CAGR of 9.5% during the forecast period. This can be attributed to the increasing demand for minimally invasive surgeries, which are less risky and cause less pain and trauma as compared to traditional open surgery procedures.
- Growing geriatric population: The global geriatric population is expected to grow at a CAGR of 8% during the forecast period, thereby leading to an increase in the incidence of age-related diseases such as cancer, arthritis, and Alzheimer’s disease. This will create a high demand for steerable medical devices that can help in early diagnosis and treatment of these diseases.
- Technological advancements: The development of new technologies such as 3D printing has led to the introduction of novel steerable medical devices such as 3D-printed endoscopes that offer improved performance over traditional endoscopes. Such technological advancements are likely to fuel the growth of the global market for steerable medical devices during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Steerable Medical Devices Market Research Report
By Type
Steerable Needles And Guidewires, Steerable Catheters, Steerable Sheath, Others
By Application
Electrophysiology, Ablation, Interventional Radiology, Interventional Cardiology, Urology and Gynecology, General and Vascular Surgery, Others
By Companies
Abbott, Boston Scientific, Greatbatch Medical, Steerable Instruments, Arthrex, Merit Medical Systems, Vention Medical
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Steerable Medical Devices Market Report Segments:
The global Steerable Medical Devices market is segmented on the basis of:
Types
Steerable Needles And Guidewires, Steerable Catheters, Steerable Sheath, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Electrophysiology, Ablation, Interventional Radiology, Interventional Cardiology, Urology and Gynecology, General and Vascular Surgery, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abbott
- Boston Scientific
- Greatbatch Medical
- Steerable Instruments
- Arthrex
- Merit Medical Systems
- Vention Medical
Highlights of The Steerable Medical Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Steerable Needles And Guidewires
- Steerable Catheters
- Steerable Sheath
- Others
- By Application:
- Electrophysiology
- Ablation
- Interventional Radiology
- Interventional Cardiology
- Urology and Gynecology
- General and Vascular Surgery
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Steerable Medical Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A steerable medical device is a type of medical device that can be controlled by an external controller. This allows the device to move or change its direction, depending on the needs of the patient. Steerable medical devices are often used in surgeries and other medical procedures.
Some of the key players operating in the steerable medical devices market are Abbott, Boston Scientific, Greatbatch Medical, Steerable Instruments, Arthrex, Merit Medical Systems, Vention Medical.
The steerable medical devices market is expected to register a CAGR of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Steerable Medical Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Steerable Medical Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Steerable Medical Devices Market - Supply Chain
4.5. Global Steerable Medical Devices Market Forecast
4.5.1. Steerable Medical Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Steerable Medical Devices Market Size (000 Units) and Y-o-Y Growth
4.5.3. Steerable Medical Devices Market Absolute $ Opportunity
5. Global Steerable Medical Devices Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Steerable Medical Devices Market Size and Volume Forecast by Type
5.3.1. Steerable Needles And Guidewires
5.3.2. Steerable Catheters
5.3.3. Steerable Sheath
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Steerable Medical Devices Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Steerable Medical Devices Market Size and Volume Forecast by Application
6.3.1. Electrophysiology
6.3.2. Ablation
6.3.3. Interventional Radiology
6.3.4. Interventional Cardiology
6.3.5. Urology and Gynecology
6.3.6. General and Vascular Surgery
6.3.7. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Steerable Medical Devices Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Steerable Medical Devices Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Steerable Medical Devices Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Steerable Medical Devices Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Steerable Medical Devices Demand Share Forecast, 2019-2026
9. North America Steerable Medical Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Steerable Medical Devices Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Steerable Medical Devices Market Size and Volume Forecast by Application
9.4.1. Electrophysiology
9.4.2. Ablation
9.4.3. Interventional Radiology
9.4.4. Interventional Cardiology
9.4.5. Urology and Gynecology
9.4.6. General and Vascular Surgery
9.4.7. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Steerable Medical Devices Market Size and Volume Forecast by Type
9.7.1. Steerable Needles And Guidewires
9.7.2. Steerable Catheters
9.7.3. Steerable Sheath
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Steerable Medical Devices Demand Share Forecast, 2019-2026
10. Latin America Steerable Medical Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Steerable Medical Devices Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Steerable Medical Devices Market Size and Volume Forecast by Application
10.4.1. Electrophysiology
10.4.2. Ablation
10.4.3. Interventional Radiology
10.4.4. Interventional Cardiology
10.4.5. Urology and Gynecology
10.4.6. General and Vascular Surgery
10.4.7. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Steerable Medical Devices Market Size and Volume Forecast by Type
10.7.1. Steerable Needles And Guidewires
10.7.2. Steerable Catheters
10.7.3. Steerable Sheath
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Steerable Medical Devices Demand Share Forecast, 2019-2026
11. Europe Steerable Medical Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Steerable Medical Devices Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Steerable Medical Devices Market Size and Volume Forecast by Application
11.4.1. Electrophysiology
11.4.2. Ablation
11.4.3. Interventional Radiology
11.4.4. Interventional Cardiology
11.4.5. Urology and Gynecology
11.4.6. General and Vascular Surgery
11.4.7. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Steerable Medical Devices Market Size and Vlume Forecast by Type
11.7.1. Steerable Needles And Guidewires
11.7.2. Steerable Catheters
11.7.3. Steerable Sheath
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Steerable Medical Devices Demand Share, 2019-2026
12. Asia Pacific Steerable Medical Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Steerable Medical Devices Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Steerable Medical Devices Market Size and Volume Forecast by Application
12.4.1. Electrophysiology
12.4.2. Ablation
12.4.3. Interventional Radiology
12.4.4. Interventional Cardiology
12.4.5. Urology and Gynecology
12.4.6. General and Vascular Surgery
12.4.7. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Steerable Medical Devices Market Size and Volume Forecast by Type
12.7.1. Steerable Needles And Guidewires
12.7.2. Steerable Catheters
12.7.3. Steerable Sheath
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Steerable Medical Devices Demand Share, 2019-2026
13. Middle East & Africa Steerable Medical Devices Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Steerable Medical Devices Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Steerable Medical Devices Market Size and Volume Forecast by Application
13.4.1. Electrophysiology
13.4.2. Ablation
13.4.3. Interventional Radiology
13.4.4. Interventional Cardiology
13.4.5. Urology and Gynecology
13.4.6. General and Vascular Surgery
13.4.7. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Steerable Medical Devices Market Size and Volume Forecast by Type
13.7.1. Steerable Needles And Guidewires
13.7.2. Steerable Catheters
13.7.3. Steerable Sheath
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Steerable Medical Devices Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Steerable Medical Devices Market: Market Share Analysis
14.2. Steerable Medical Devices Distributors and Customers
14.3. Steerable Medical Devices Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Abbott
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Boston Scientific
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Greatbatch Medical
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Steerable Instruments
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Arthrex
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Merit Medical Systems
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Vention Medical
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
