Catheters Market Size, Share & Analysis | Industry Report 2024

The global catheters market was valued at $31.1bn in 2016 and is anticipated to reach over $63.5bn by 2024.

The global catheters market is anticipated to grow at a lucrative CAGR of over 9% over the forecast period. The rapid increase in the prevalence of cardiovascular diseases, urological, neurovascular diseases is strongly driving the market demand. In addition, the factors such as technological advancements, improvement in reimbursement coverage, growing demand for minimally invasive surgeries (MIS), are anticipated to reinforce growth prospects over the forecast period positively.

The changes in lifestyle factors such as smoking, substance abuse, junk food and lack of physical activity are significantly contributing to rise in prevalence of cardiovascular diseases across the globe. As per the U.S., CDC cardiovascular diseases are the leading cause of death in both male and females. Each year nearly 735,000 people suffer from heart attack and 610,000 people die due to different heart diseases. The most prevalent condition is the coronary heart disease, which leads to a death of over 370,000 people annually. The growing prevalence of cardiovascular diseases is expected to propel the usage rates of catheters over the forecast period.

The use of catheters unnecessarily or used without proper monitoring for long-term can lead to infections. As per the U.S., CDC, nearly 15% to 20% of people admitted to the hospitals require urinary catheterization and urinary tract infections account for nearly 75% of hospital acquired infections, which is a major factor hindering the usage of these products. However, the new generation products are developed using the most advanced materials to improve the ease of operation, prevent infections, and reach deeper regions in the body which were previously inaccessible. These technological advancements in catheter research & development and manufacturing are expected to propel sales over the forecast period.

The regional segmentation highlights the different market dynamics across North America, Europe, Asia Pacific, Latin America, Middle East & Africa. In 2016, North America accounted for the maximum revenue share of over 41% due to the high disease burden, growing number of MIS surgeries and introduction of novel products to mitigate the “Catheter Acquired Urinary Infections.” The U.S. is the dominant player in the region and accounts for over 85% share in the region due to the presence of well-developed reimbursement framework, availability of Cath labs with modern infrastructure, and high patient turnover.

Asia Pacific is expected to outperform other regions by registering the highest CAGR of over 10% through the forecast period. Increasing healthcare expenditure to improve infrastructure and access to healthcare, growing penetration of insurance coverage, the rise in patient volume due to medical tourism are some of the factors boosting the market. Furthermore, growing government initiatives to promote the local medical device manufacturing and ensure a reduction in prices and improve market competition are also anticipated to the usage volume over the forecast period.

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Key findings from the study: -
• As per the U.S., CDC cardiovascular diseases are the leading cause of death in both male and females. Each year nearly 735,000 people suffer from heart attack and 610,000 people die due to different heart diseases.
• On an average, the cardiac catheterization costs between USD 1,500 to USD 4,000 depending on the procedure. However, the catheters are priced at different price points based on the raw materials, technology and intended use.
• The U.S. is the dominant player in the region and accounts for over 85% share in the region due to the presence of well-developed reimbursement framework, availability of Cath labs with modern infrastructure, and high patient turnover.
• The key players in the market include Abbott, Medtronic, Johnson & Johnson, and Boston Scientific. Apart from these, companies such as Coloplast, Stryker, Edwards Life Sciences Corporation, Rochester Medical Corporation, B.Braun also have a significant presence in the market.

Ameri Research has segmented the Catheters Market by material categories, product type, end-use and region:

Market Segmentation:

Catheters Market by Product (Revenue, Million, 2014 – 2024)
• Cardiovascular Catheters
• Urology Catheters
• Neurovascular Catheters
• Intravenous Catheters
• Specialty Catheters
• Others

Catheters Market Regional Outlook (Revenue, USD Million, 20124- 2024)
• North America
o U.S.
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India
o Australia

• Latin America
o Brazil
o Mexico
o Columbia

• Middle East and Africa
o South Africa
o Saudi Arabia

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