The Intravascular Catheter Market is anticipated to reach USD 6.28 Billion by 2030 at 11.90% CAGR during the forecast period 2022-2030.
The Intravascular Catheter Market is projected to reach USD 6.28 Billion by 2030 at 11.90% CAGR during the forecast period 2022-2030.
The intravascular catheter market is driven by factors such as increasing hospitalization rates due to the rising prevalence of life-threatening diseases and growing demand for minimally invasive procedures to diagnose and treat different chronic diseases. Additionally, the increase in the number of intravascular catheterization labs, increasing number of intravascular catheterization procedures has fueled the growth of the intravascular catheter market.
On the other hand, the lack of skilled technicians and the increasing cases of local site infections are projected to hamper the growth of the market during the assessment period. Nevertheless, changes in regulatory policies and a rise in demand for effective therapies to treat complicated disorders are expected to reduce the impact of barriers during the forecast period.
Moreover, major companies in the market are involved in strategic acquisitions and collaborations to sustain their position in the market. For instance, in March 2019, Edwards Lifesciences Corporation had announced the acquisition of Corvia Medical, Inc. In April 2019, the company completed the acquisition of CAS Medical Systems, Inc.
Intravascular Catheter Market Segmentation
The global intravascular catheter market has been segmented based on product, application, and end user.
The market, based on product, has been bifurcated into short peripheral intravenous catheters (PIVC) and integrated/Closed PIVC catheters.
The market, by application, has been divided into renal disease, cancer, gastrointestinal diseases, infectious diseases, and other diseases. The renal disease segment is expected to hold a large share owing to the increasing occurrences of kidney-related disorders throughout the globe. The cancer segment is expected to be the fastest growing one due to the increased patient population in recent years.
The market, by end user, has been classified as hospitals, clinics, ambulatory surgical centers, homecare, and others.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The IV catheter market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European IV catheter market has been sub-divided Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The intravascular catheter market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The intravascular catheter market in the Middle East & Africa has been divided into the Middle East and Africa.
Intravascular Catheter Market Key Players
Boston Scientific Corporation, C.R. Bard, Inc., Coloplast, Cook Medical, Edwards Life Sciences Corporation, Getinge AB, Johnson & Johnson, McKesson Medical Surgical Inc., Medtronic Inc., Smiths Medical, and Terumo Corporation are some of the key players in the global intravascular catheter market.
Regional Market Summary
The market in the Americas is expected to dominate the global intravascular catheter market due to the increasing per capita healthcare expenditure and the high adoption of new technology in the region. Furthermore, rising expenses in research and investment by healthcare bodies is expected to drive the growth of the market in this region.
The market in Europe showed a considerable amount of growth. The market growth in this region can be attributed to the presence of a well-established healthcare system and an increase in chronic diseases. According to the statistics published in 2018 by Office for National Statistics, the number of new cancer diagnoses in England increased from 303,135 in 2016 to 305,683 in 2017. Such high rates of new cancer diagnoses are likely to drive the demand for minimally invasive procedures. As a result, the market is projected to grow during the forecast period.
The market in Asia-Pacific is expected to have a steady growth rate during the forecast period owing to the increasing number of patients with chronic diseases and government initiatives for healthcare reforms. According to Global Burden of Disease Report published in 2017, heart disease is the leading cause of death in India, causing around 1.7 million deaths in India in 2016. However, decrease in capital investment is restricting the market growth of this region.
The market in the Middle East & Africa is expected to account for the least share of the global market due to low disposable incomes in the region. Moreover, the limited access to treatment facilities is projected to curb the growth of the market in future.
Global Intravascular Catheter Market, by Product
Global Intravascular Catheter Market, by Application
Global Intravascular Catheter Market, by End User
Global Intravascular Catheter Market, by Region
|Market Size||USD 6.28 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application, And End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Boston Scientific Corporation, C.R. Bard, Inc., Coloplast, Cook Medical, Edwards Life Sciences Corporation, Getinge AB, Johnson & Johnson, McKesson Medical Surgical Inc., Medtronic Inc., Smiths Medical, and Terumo Corporation|
|Key Market Opportunities||Increasing number of intravascular catheterization procedures|
|Key Market Drivers||
The intravascular catheter market had a valuation of USD 6.28 Billion in 2030.
The intravascular catheter market is slated to grow with a CAGR of 11.90% during the forecast period.
The renal disease segment is leading the intravascular catheter market.
The cancer segment can be the fastest-growing in the intravascular catheter market.
The Americas would top the intravascular catheter market.