Global and China Catheter Market Outlook and Analysis 2020 | By Top Players Cordis (Cardinal Health), Abbott Laboratories, B. BRAUN, Medtronic plc, Terumo, Teleflex Corporation

A catheter is a soft hollow tube, which is passed into the bladder to drain urine. Angioplasty, angiography, balloon septostomy, balloon sinuplasty, cardiac electrophysiology testing, and catheter ablation are some of the common procedures that require a catheter.

The global and China catheters market is estimated to account for US$ 57.1 Bn in terms of value by the end of 2027.

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Global and China Catheters Market: Drivers

Increasing prevalence of chronic disorders is expected to propel growth of the global and China catheters market over the forecast period. For instance, according to the American Heart Association's Heart and Stroke Statistics 2019 Update, around 48% of all adults in the U.S. suffered from some type of cardiovascular diseases in 2016.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Europe held dominant position in the global and China catheters market in 2019, accounting for 34.9% share in terms of volume, followed by North America and Asia Pacific, respectively.

Global and China Catheters Market: Restraints

High cost of the cardiac catheterization procedure is expected to hinder growth of the global and China catheters market. The cost of cardiac catheterization with & without coronary angiogram ranges from US$ 3,000 to US$ 5,000.

Moreover, risks of the cardiac catheterization procedure such as air embolism, bleeding, heart attack, infection, and kidney damage are also expected to hinder growth of the market.

The global and China catheters market was valued at US$ 38.7 Bn in 2019 and is forecast to reach a value of US$ 57.1 Bn by 2027 at a CAGR of 4.9% between 2020 and 2027.

Market Trends/Key Takeaways

Increasing prevalence of urinary incontinence is expected to propel demand for Foley catheters. For instance, according to the paper, “The prevalence of urinary incontinence,” published in the journal Climacteric, in June 2019, the prevalence of UI ranged from approximately 5% to 70%, with most studies reporting a prevalence of any urinary incontinence in the range of 25-45%.

Moreover, increasing number of cardiac catheterization labs is expected to boost demand for cardiac catheters. For instance, in February 2020, Northwell Health, a nonprofit integrated healthcare network, announced that its facilities, Lenox Health Greenwich Village, Mather Hospital in Port Jefferson and Plainview Hospital, received approval from the New York State Health and Health Planning Council to establish cardiac catheterization labs.

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Regulations

U.S.

Conventional and antimicrobial Foley catheters are described in the FDA regulations under 21 CFR 876.5130(a), Urological Catheter and Accessories, as a "flexible tubular device that is inserted through the urethra and used to pass fluids to or from the urinary tract."
The classification for these devices is class II as stated in 21 CFR 876.5130(b)
Manufacturers require a premarket approval for commercialization
Global and China Catheters Market: Competitive Landscape

Major players operating in the global and China catheters market include, Cordis (Cardinal Health), Abbott Laboratories, B. BRAUN, Medtronic plc, Terumo, Teleflex Corporation, C. R. Bard, Inc., RIST Neurovascular, Inc., Edwards Lifesciences, Cook Medical Incorporated, Merit Medical, Biotronik, BALT, Osypka AG, Japan Lifeline, ACT, Lepu, Microport, SCW Medicath, Boston Scientific Corporation, Coloplast A/S, Convatec Group PLC, Dentsply, Bactiguard, Hollister Incorporated, Pacific Hospital Supply Co. Ltd., Rochester Medical Corporation, Fuqing Medical, Medsuyun, Songhang, Sanli, Chensheng Medical, Haiou Medical, CATHETRIX, and World Medical.

Global and China Catheters Market: Key Developments

Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in February 2020, RIST Neurovascular, Inc., a neuro-interventional medtech company, received U.S. Food and Drug Administration (FDA) 510(k) clearance to market the RIST Cath Radial Access Long Sheath (RIST Cath).

Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in November 2019, CATHETRIX, a developer of urinary Foley smart catheter fixations, signed an agreement with Pro-Lab Diagnostics for the distribution of CATHETRIXS innovative FoleySafe catheter securement device in Canada, U.S. and the U.K.

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