Sensor Based Smart Catheters Market 2022 : Key Players, SWOT Analysis, Key Indicators, Forecast and COVID 19 Impact Analysis 2030

The global sensor based smart catheters market was valued at US$ 3.5 Bn in 2021

The global market is projected to grow at a CAGR of 8.0% from 2022 to 2031

The global sensor based smart catheters market is anticipated to reach more than US$ 7 Bn by 2031

Analysts' Viewpoint on Sensor Based Smart Catheters Market Scenario

Rise in prevalence of cardiovascular diseases and surge in geriatric population have led to an increase in the number of interventional procedures. This has driven the sales of advanced catheters. Leading players in the sensor based smart catheters market are increasing R&D in high-end automated technology and development of biocompatible materials. Silicon is fast becoming the material of choice, as it is free of latex and is preferred by patients suffering from latex allergies. Therefore, each aspect of the sensor based smart catheter should be biologically inspired. In-office doctor visits are increasing post the peak of the COVID-19 pandemic. This is likely to revive the revenue flow in the global sensor based smart catheters market.

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Overview of Sensor Based Smart Catheters Market
Catheter technology has progressed steadily in the last few decades, with an increase in the number of form factors, utilization scenarios, and proximal configurations. Catheter represents a piece of medical equipment that is introduced into the body for therapeutic or disease management purposes, or to allow the outflow of physiological fluids or the intake of drugs during a surgical procedure. Sensor based smart catheter detects changes in the pH or acid-base environment around the catheter chemically.

In 2019, Spinal Singularity developed a smart catheter system for a new bladder control management solution for men. The male anatomy is completely internal to the connected catheter. A magnetic valve-pump is included into the catheter tip, which opens and closes by remote control, allowing the bladder to fill naturally. The catheter allows users to empty their bladders in a comfortable and easy manner, without the need for repeated catheterization or a urine collection bag attached to the body. The smart catheter system is made up of biocompatible material, i.e., silicon, owing to its long-term stability. It is chemically stable and can be used and stored at different temperatures and humidity levels.

Rise in prevalence of illnesses such as urinary bladder disorders, renal failure, and coronary heart disease is likely to increase the need for catheterization procedures, which includes the usage of sensor based smart catheters. This is encouraging med-tech companies to innovate in cardiovascular catheters. According to a study published by the Centers for Disease Control and Prevention, more than 19.1% of the global geriatric population aged 55 to 65 years suffered from a peripheral vascular illness in 2020, with about 27% of males and over 21% of women suffering from the disease. This is projected to propel the global sensor based smart catheters market.

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Rise in Urologic Diseases and Technological Innovations in Urinary Catheters to Drive Global Market
Rise in prevalence of urologic diseases, such as urine retention, bladder blockage, urinary incontinence, urinary tract infection (UTI), and bladder malignancies, is expected to fuel the demand for sensor based smart catheters. Therefore, companies are increasingly carrying out research on smart catheter flow sensors.

According to the National Healthcare Safety Network (NHSN), UTIs are the most common urological diseases and require the use of urinary catheters. According to data enumerated by the Centers for Disease Control and Prevention (CDC), 15% to 25% of hospitalized patients in the U.S. receive a urinary catheter each year.

Increase in incidence of catheter-associated urinary tract infections has induced governments in industrialized economies to implement standards for nurses and other healthcare providers to use catheters efficiently and safely. Currently, operations carried out by the European Association of Urology Nurses (EAUN) in various countries are based on guidelines set forth by many governments in Europe. Most of the countries in the region support and pay for adequate catheterization and patient care within their own borders if these rules are followed.

Prominent market players are concentrating on the launch of innovative urinary catheters that are intended to improve patient safety. For example, Safe Medical Design, Inc. received FDA approval for its "Signal Catheters" in the U.S. in February 2019. Poiesis Medical bagged an Innovative Technology contract from Vizient, Inc. in March 2019 for its Duette Dual Balloon Indwelling Urinary Catheter.

Increase in Number of Surgical Procedures Propelling Demand for Sensor Based Smart Catheters
Demand for sensor based smart catheters is likely to increase in the near future due to the rise in number of surgical procedures owing to the surge in incidence of several chronic diseases and growth in number of ICU (Intensive Care Unit) admissions. An article published by the National Center for Biotechnology Information (NCBI) in 2020 stated that 310 million major surgeries are performed worldwide each year, with 40 million to 50 million in the U.S. and 20 million in Europe.

Patients with chronic diseases typically have weakened immune systems and require hospitalization on a regular basis. These patients are at high risk of infection, as a catheter is used frequently to access blood vessels. Hence, antimicrobial catheters are being used to reduce catheter-associated infections and lower the rising cases of thrombosis. Sensor based smart catheters are the best choice in such cases, as these can sense and detect infections.

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Accurate Diagnosis of Supraventricular and Ventricular Tachycardia Triggering Demand for Mapping Catheters
In terms of product type, the mapping catheters segment is projected to dominate the market, accounting for 40% share by 2031. Electrophysiological mapping methods are increasingly being used to correctly diagnose a number of supraventricular and ventricular tachycardia across the world. This is driving the demand for mapping catheters.

Mapping the heart's electrical activity is an important part of diagnosing and treating a heart disease. Advanced therapies, such as ablation for arrhythmia treatment, necessitate detailed mapping. Mapping catheters are mostly used in cardiac mapping, which begins with percutaneously inserting a catheter into a heart chamber and measuring electrocardiograms (ECG) in order to match the ECG with cardiac anatomy. Advancements in 3D mapping technology allow for the creation of a three-dimensional model of a heart chamber as well as the precise location of the inserted catheter. This improves the resolution of cardiac activity maps and aids in proper diagnosis of abnormal conditions such as arrhythmia.

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Cardiac Mapping and Evaluation of Vascular Lesions Augmenting Innovation in Single Lumen Catheters
Based on catheter type, the single lumen segment accounted for a relatively large share of around 50% of the global market in 2021. The segment is likely to be driven by an increase in demand for cardiac mapping and evaluation of vascular lesions of the brain, head & neck, and spine via sensor based catheters. Such trends are boosting the demand for smart catheter system for minimally invasive brain monitoring. Majority of catheters used for mapping ablation and imaging of vascular diseases are single lumen.

Lumens are internal areas in pipes that transit liquids, gases, as well as surgical devices. A single lumen catheter is one that has a single hole through the center of it. Single lumen catheters are the most common type of IV, urological, and drainage catheters. The usage of advanced vascular catheters for complex interventional procedures is becoming more popular among medical professionals and hospitals.

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