Catheters Market Information, By Type (Cardiovascular Catheters, Specialty Catheters, Intravenous Catheters, Urinary Catheters, Neurological Catheters), End Users (Hospitals & Clinics, Ambulatory Surgical Centers and others) - Forecast till 2027
ID: MRFR/MED/2295-CR | January 2018 | Region: Global | 83 pages
Catheters Market Overview
Catheters Market is estimated to grow at a 6.14% CAGR through the forecast period and is projected to reach USD 49,731.9 Million by 2023. A catheter is a thin tube medical device made from superior graded material sourced in the healthcare sector to distribute gases, medications, or fluids to patients or remove bodily fluids such as urine. These are implanted into the body to cure numerous diseases and perform surgeries.
COVID-19 Analysis
The onset of the COVID epidemic in March has led to the revision of both the patient and the staff's safety can be ensured by the institution of a set of smart strategies. The COVID pandemic has enforced an update to the typical medical procedures and acclimatize them to the latest situation categorized by an elevated risk of contamination of the health workers. The patients with COVID-19 or suspected cases of the disease requiring intubation should be intubated before advent at the catheterization laboratory. Besides, the threshold to consider intubation in a patient with marginal respiratory status may need to be reduced to prevent emergent intubation in the catheterization laboratory. The huge majority of catheterization laboratories have intended either standard or optimistic ventilation systems and are not intended for infection isolation.
Catheters Market Dynamics
Drivers
Increase In Preference For Minimally Invasive Procedures
The rise in the number of patients opting for minimally invasive procedures is foreseen to create an optimistic scope for developing the future catheters market share.
Increasing Number Of Patients Suffering From Urological And Cardiac Problems
Several catheter types, such as urinary catheters, specialty catheters, intravenous catheters, cardiovascular catheters, and neurological catheters, have been made accessible to treat diseases. This is estimated to spur the catheters market size in the upcoming years.
Increasing Geriatric Population
The swell in the geriatric population and diabetic patients who are more prone to contracting cardiac and urological diseases is predicted to motivate the catheters market stake.
Opportunities
New Advancements In Catheterization Devices
The innovations noted in the catheter design and efficiency are estimated to spur the catheters market's progress.
Challenges
Risk Of Infection
The emergence of cases in which infection has been contracted through catheter use is estimated to restrict the catheters market's growth.
Catheters Market Segment Overview
By Type
The cardiovascular catheter segment is predicted to control the catheters market's largest share. In contrast, the urinary catheters segment is anticipated to grow at a CAGR of 6.52% in the forecast period.
By End Users
The hospitals & clinics segment accounts for the largest market share in the catheters market by end-users; this segment is anticipated to reach USD 22,396.1 in 2023.
Regional Analysis
R & D Capabilities To Boost Americas Region
The Americas catheters market dominates the global catheters market owing to growing elderly residents, massive population base with cardiac diseases, strong government support for research & development, and elevated health care spending.
European Regional Market To Observe Technological Advancement
The regional market of Europe is the next foremost region in the global catheters market, shadowed by the Asia Pacific. The sophisticated technologies in these nations have performed a predominant role in emerging markets in the European region.
APAC Region To Be Advanced By National Markets
The Asia Pacific is the most rapid mounting catheters market, driven by national markets India, China, and Japan due to abundant patient population and a rapidly mounting economy. The healthcare spending in the Asia Pacific has amplified throughout the last few years, adding to catheters market growth.
MEA Region To Add Significantly To Market Share
The Middle East and African regional market add the least to the development of the global catheters market. Saudi Arabia, the UAE, and Kuwait national markets lead the Middle East & African catheters market. The African regional market holds the catheter market's minimum share due to factors such as inadequate medical facilities and poor economic conditions.
Competitive Landscape
The essential companies in the Catheters Market are
- Boston Scientific Corporation,
- Koninklijke Philips N.V,
- Abbott, Medtronic Plc,
- Braun Melsungen Ag,
- Becton, Dickinson, And Company,
- Terumo Corporation,
- Lumend Corporation
- Covidien Ag (Ireland),
- Acist Medical Systems
- Cook Medical Inc.
Recent Developments
Jan 2021 Reflow Medical declared it has launched its Reflow Spex Low Profile strengthened support catheters. The Spex LP catheters are intended to provide the lowest profile tip to access and cross the constricted and most complex lesions with a support system. They are available in 0.014 in. and 0.018 in. sizes and can be blended with the Reflow Spex 35.
Jan 2021 Control Medical Technology declared the FDA cleared Control 11F Mechanical Thrombectomy system was used to remove large blood clots in patients with deep vein thrombosis (DVT). Coronary thrombectomy is executed in acute myocardial infarction (AMI), neurovascular thrombectomy in acute ischemic stroke, and peripheral thrombectomy is performed with chronic total occlusion (CTO), peripheral arterial disease (PAD), and deep vein thrombosis (DVT). Blood-clot and embolic removal, or embolectomy and thrombectomy, is executed through the body.
Dec 2020 The FDA has ordered Cook Medical's recall of two catheters used in vascular procedures as Class I, the most severe type. There have been at least 57 complaints about the catheters named Flexor Check-Flo Introducers and Flexor Tuohy-Borst Side-Arm Introducers and 14 reports of grave injuries. There have been no informed deaths. The catheters have a covered shaft, a valve, a dilator, and markers that show up on an x-ray and are used to help insert other medical devices consumed for therapy or diagnosis into the vessels, except for those of the heart and brain.
Oct 2020 Johnson & Johnson recently proclaimed that its Biosense Webster business had acquired FDA endorsement for its Thermocool SmartTouch SF ablation catheter. The Thermocool SmartTouch accepted approval for the management of persistent atrial fibrillation.
Aug 2020 Abbott declared it had registered the first contributors in its TactiFlex PAF IDE study to assess the TactiFlex sensor-enabled ablation catheter's performance. The catheter is intended to treat individuals experiencing paroxysmal atrial fibrillation (PAF) with indications that medicine cannot manage.TactiFlex joins Abbott's contact force-sensing technology within the TactiCath SE catheter with a catheter tip design originating in its Flexibility irrigated ablation catheter.
Report Overview
By Type
- Cardiovascular Catheters
- Specialty Catheters
- Intravenous Catheters
- Urinary Catheters
- Neurological Catheters
By End Users
- Hospitals & Clinics
- Ambulatory Surgical Centers
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 6.14% (2017-2023) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Boston Scientific Corporation, Koninklijke Philips N.V, Abbott, Medtronic Plc, Braun Melsungen Ag, Becton, Dickinson, And Company, Terumo Corporation, Lumend Corporation, Covidien Ag (Ireland), Acist Medical Systems, Cook Medical Inc. |
| Key Market Opportunities | New Advancements In Catheterization Devices |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
Catheters market is expected to expand at 6.14% CAGR from 2020 to 2027.
Catheters market is expected to stand at USD 49,731.9 million by 2023.
Large population of diabetics, huge geriatric population, and preference of minimally invasive surgeries by the populace are major drivers of the catheters market.
High risks of infections from catheters is the major factor expected to impede the catheters market growth.
The Americas is expected to dominate the catheters market till 2023 due to large number of diabetics.
B. Braun Melsungen AG, Cook Medical Inc., Becton, Dickinson and Company, Covidien AG, Boston Scientific Corporation, ACIST Medical Systems, Terumo Corporation, Medtronic plc, Abbott, Koninklijke Philips N.V, and LuMend Corporation are prominent players of the global catheters market.