CAGR: 8.10%Current Market Size: USD 24.1 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global cardiac catheter market is expected to grow from USD 24.1 billion in 2022 to USD 44.9 billion by 2030, at a CAGR of 8.10% during the Projection period 2023-2030. The growth of the cardiac catheters market is mainly driven by the increasing number of neurologic, cardiovascular and urological disorders.
The huge rise in coronary illnesses including angina pectoris and myocardial infarction is a major factor in the expansion of the cardiac catheters market. More than 17.9 million people die each year from cardiovascular diseases (CVD), of which approximately half are caused by coronary heart disease and almost a quarter by stroke, according to the World Health Organization (WHO). COVID-19 is anticipated to have a favourable effect on the cardiac catherers. The usage of urinary catheters and Central Venous Catheters (CVC) increased during the early phases of the COVID-19 pandemic, according to the National Center for Biotechnology Information (NCBI), which is anticipated to spur market expansion during the Projection period. Additionally, a number of producers are providing ICU patients with items such coated urine catheters with temperature monitoring as a stronger defence against secondary infections, which is anticipated to fuel market expansion in the Projection period. Additionally, technological developments are a major factor in the market's expansion. For instance, the development of antimicrobial catheters and the miniaturisation of catheters are projected to support the expansion of the catheter market. The Medtronic-created MAHURKAR Chronic Carbothane Catheter is built of Carbothane, which enables a straightforward single-insertion procedure and ensures exceptional kink resistance. Low arterial and venous pressures are produced by the catheter, which gives high flow rates.
Sample Request: - Global Cardiac Catheters Market
Market Dynamics:
Drivers:
A growing number of chronic illnesses, such as those affecting the heart, gastrointestinal tract, urology, and eyes, are being reported as a result of population aging and other environmental factors. Because they are used to treat chronic conditions, catheter demand is expected to increase during the Projection period. For instance, cardiac catheterization is used to identify or treat disorders like arrhythmia or blocked arteries.
The cardiac catheters market is expected to develop during the Projection period as occurrences of cardiovascular illness are on the rise worldwide. For instance, a study published by the World Heart Federation found that 80.0% of fatalities in low- to middle-income countries in 2018 were caused by cardiovascular diseases. Similarly to this, the World Health Organization (WHO) estimates that 17.9 million deaths would be directly related to CVDs worldwide in 2018. It is predicted that these factors will lead to an increase in the need for cardiac catheters as well as angioplasty, cardiac catheterization, and other interventional procedures.
Restraints:
The catheters are inserted temporarily or permanently into different parts of the body. The risk of infection exists whenever a foreign material is ingested. According to the United Kingdom Health Service, urinary catheters give germs a way into the body. This could lead to infection of the kidneys, bladder, or urethra. These illnesses are known as urinary tract infections or UTIs. As a result, the risk of infections may cause patients to use catheters less frequently, which would have an effect on market growth.
Opportunities:
Companies that manufacture catheters use cutting-edge materials like polyurethanes and polycarbonates. In order to extend the life of catheters, Sorbothane, a material resistant to chemicals including alcohol, hydrogen peroxide, and iodine, is utilized in the production process. Additionally, Durathane catheters give the user resistance and strength. For instance, the DuraFlow 2 chronic hemodialysis catheter from Angio Dynamics is made of a substance called Durathane, which combines the advantages of silicone and polyurethane by having qualities that are similar to both. This catheter's substance offers strength and resistance to a number of frequently used site care chemicals.
Challenges:
Lack of skilled labours to use the cardiac catheters efficiently challenges the market’s growth. Furthermore, the high cost of surgeries and unfavourable reimbursement policies may challenge the market's expansion over the Projection period.
Segmentation Analysis:
The global cardiac catheters market has been segmented based on type, end-user and region.
By Type
The type segment is electrophysiology catheters, IVUS catheters, PTA balloons catheters, PTCA balloons catheters, and others. The IVUS catheters segment led the largest share of the cardiac catheters market with a market share of around 34% in 2022. A catheter-based imaging technique called intravascular ultrasonography (IVUS) is used to see inside blood vessels. IVUS offers high-resolution cross-sectional images of the vessel walls, which can be used to gauge the size of the vessels, gauge the burden of plaque, and identify lesions. The gold standard for measuring coronary artery vessel diameter and lesion length is IVUS. Additionally, percutaneous coronary procedures like stenting and atherectomy are guided by IVUS.
By End-User
The end-user segment is clinics, public ambulatory surgical centers, hospitals, and others. The hospitals segment led the largest share of the cardiac catheters market with a market share of around 55% in 2022. Due to the widespread prevalence of cardiovascular illnesses. For instance, the most prevalent form of cardiovascular illness, coronary heart disease, is responsible for more than 370,000 deaths annually in the United States, according to a report released by the Centers for Disease Control & Prevention (CDC) in 2018. Additionally, it stated that roughly 735,000 Americans had a heart attack each year. Since these issues are often treated with angioplasty, PCI, and cardiac catheterization, a rise in cases of these diseases is anticipated to increase the hospital admission rate.
Global Cardiac Catheters Market - Sales Analysis.
The sale of the cardiac catheters market expanded at a CAGR of 7% from 2016 to 2022.
A catheter is a short, flexible tube that is used to treat a variety of illnesses, including those of the neurological system, gastrointestinal tract, urology, and heart. Urinary catheters are flexible, hollow tubes that are inserted into the bladder to drain urine. Catheters are used on people who are unable to naturally empty their bladders. Catheters are available in a range of materials and can be left in place for weeks. Additionally, the skin, ducts, and brain can all get temporary or permanent catheter implants. The global increase in coronary illnesses including angina pectoris and myocardial infarction is a major factor in the expansion of the cardiac catheter market. More than 17.9 million people die each year from cardiovascular diseases (CVD), of which approximately half are caused by coronary heart disease and almost a quarter by stroke, according to the World Health Organization (WHO).
The National Center for Biotechnology Information reports that compared to April 2019, the volumes of both coronary angiography and percutaneous coronary intervention (PCI) fell by 64% in 2021. But given the high prevalence of chronic diseases, the aging population's rising desire for better healthcare systems, the existence of well-established healthcare facilities, and technological improvements, the sector is projected to experience considerable growth during the Projection period. For instance, Medical Manufacturing Technologies, a portfolio company of Arcline Investment Management that offers solutions for the manufacturing of medical devices, integrated Biomerics' R&D Engineering into its automation technologies and catheter production in January 2021, which is anticipated to spur industry growth.
Thus, owing to the aforementioned factors, the global cardiac catheters market is expected to grow at a CAGR of 8.10% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the cardiac catheters market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the cardiac catheters market and held a 39% share of the market revenue in 2022.
Global Cardiac Catheters Market - Country Analysis:
Germany's cardiac catheters market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.19 billion by 2030, at a CAGR of 2.4% from 2023 to 2030. The high cost of healthcare, advantageous reimbursement policies, and the rising incidence of cardiovascular illnesses & disorders can all be cited as contributing causes. Additionally, it is anticipated that the existence of important players with cutting-edge technologies will fuel growth during the Projection period.
China’s cardiac catheters market size was valued at USD 0.35 billion in 2022 and is expected to reach USD 0.47 billion by 2030, at a CAGR of 3.9% from 2023 to 2030. Due to an increase in the number of elderly people and improved economic conditions, which will boost disposable income and raise demand for various medical equipment, including cardiac catheters. Other factors influencing the growth of the regional market include an increase in the number of hospitals and clinics that focus on cardiovascular care as well as increased awareness of the importance of heart health.
India's cardiac catheters market size was valued at USD 0.31 billion in 2022 and is expected to reach USD 0.40 billion by 2030, at a CAGR of 3.4% from 2023 to 2030. Due to the expanding patient population for cardiac diseases and growing economies. Additionally, the government's initiative to upgrade the healthcare system will help the industry.
Key Industry Players Analysis:
To increase their market position in the global cardiac catheters market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8.10% |
Market Size |
24.1 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Boston Scientific, Abbott, BBRAUN, Medtronic, Terumo, Cordis(Cardinal health), Merit Medical, Teleflex, C. R. Bard, Edwards, Lepu, Cook, Osypka AG, Microport, Biotronik, St. Jude Medical, BALT, SCW Medicath, Japan Lifeline, and ACT. |
By Type |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Cardiac Catheters Market By Type:
Global Cardiac Catheters Market By End-User:
Global Cardiac Catheters Market By Region:
Global cardiac catheters market is expected to reach USD 44.9 billion by 2030.
The cardiac catheters market is projected to have a CAGR of 8.10%.
Due to the rising prevalence of cardiovascular, neurologic, and urological problems; the growing use of minimally invasive treatments; and the rising need for antimicrobial catheters, the market is anticipated to experience healthy expansion.
Leading market players active in the global cardiac catheters market are Boston Scientific, Abbott, BBRAUN, Medtronic, Terumo, Cordis(Cardinal health), Merit Medical, Teleflex, C. R. Bard, Edwards, Lepu, Cook, Osypka AG, Microport, Biotronik, St.Jude Medical, BALT, SCW Medicath, Japan Lifeline, ACT among other.
Based on the end-user, the global cardiac catheters market has been segmented into clinics, public ambulatory surgical centers, hospitals, and others.
Political Factors- Markets like the cardiac catheter market can profit from trade blocs and trade treaties that the respective country of origin has formed and signed. Trade blocks can help markets like the cardiac catheter market by reducing the cost of resources, the cost of doing business, and the shortage of skilled workers. Markest like the cardiac catheter market can easily make their goods and services available to customers through a variety of channels and distribution companies by using trade blocks. Strong industrial ties could be established and maintained under trade agreements between nations and across borders, allowing businesses like the cardiac catheter market to gain access to cutting-edge knowledge, know-how, and technology.
Environmental Factors- Consumer buying patterns are crucial to the success of businesses like the cardiac catheter market. We prefer rising consumer spending patterns since they result in more people buying and using the goods that the cardiac catheter market sells. The increased consumer spending also reflects greater purchasing power, which is crucial for boosting overall consumption patterns and the economy's health. Product quality and marketing tactics can help to influence these higher consumer trends. Other economic variables like the inflation rate, interest rate, and unemployment trends also have an impact on these trends.
Social Factors- The population as a whole is adopting trends in health and well-being. Consumption choices and habits have been influenced by the health and wellness movement. According to consumer research and behavioral assessments, the cardiac catheter market has added health-related elements to its goods and incorporated them into its marketing. cardiac catheter market has formed partnerships and undertaken CSR projects that focus on not only physical health and wellbeing but also mental and emotional wellbeing as a result of the rising health consciousness.
Technological Factors- High levels of domestic and foreign investment are made in the nation's technological R&D. The substantial investment aids in the advancement of industries by providing them with modern, flexible, and efficient means of conducting business and carrying out other business procedures. A higher rate of innovation has also been made possible by increasing investment and related research. Businesses profit from innovation and development through the expansion of the industrial sector as a whole and the creation of a competitive advantage for the sector on the international market. Individual players' adaptations, like the cardiac catheter market, also help businesses develop competitive solid advantages.
Environmental Factors- Consumer buying patterns are crucial to the success of businesses like the cardiac catheter market. We prefer rising consumer spending patterns since they result in more people buying and using the goods that the cardiac catheter market sells. The increased consumer spending also reflects greater purchasing power, which is crucial for boosting overall consumption patterns and the economy's health. Product quality and marketing tactics can help to influence these higher consumer trends. Other economic variables like the inflation rate, interest rate, and unemployment trends also have an impact on these trends.
Legal Factors- The population of the nation and the market are diverse. There are many immigrants, and enterprises from the country run in many different off-shore places. As a result, the cardiac catheter market has always been at ease with diversity in the workforce and has created internal business policies to encourage it. The business adheres to anti-discrimination laws in all of its operations, from hiring to promoting. All staff participates in diversity training and workshops on a regular basis to learn how to avoid discriminatory and biased actions that could have serious consequences. Like other companies in the sector, the cardiac catheter market is an equal-opportunity employer. Additionally, Smith Nephew plc works to prevent prejudice and maintain a healthy organizational culture.
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