Press release
Intravascular Catheters Market Outlook 2024: Exclusive Report By The Business Research Company | Cook Group Incorporated, Smiths Medical Inc., Edwards Lifesciences Corporation, Medtronic Inc., Johnson & Johnson
Intravascular Catheters Market Size
The Business Research Company offers in-depth market insights through Intravascular Catheters Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The intravascular catheters market size has grown rapidly in recent years. It will grow from $6.76 billion in 2023 to $7.7 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to increased aging population, rise in cardiovascular diseases, adoption of minimally invasive procedures, healthcare digitalization, global health initiatives.
The intravascular catheters market size is expected to see rapid growth in the next few years. It will grow to $12.37 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to growth of precision medicine, sustainable healthcare, expansion of telemedicine, patient education and engagement, increased use of intravascular catheters. Major trends in the forecast period include smart catheters, advanced navigation systems, vascular access in pediatrics, artificial intelligence (ai)-assisted catheter placement, advancements in non-invasive catheter procedures.
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Market Segmentation:
The main intravascular catheter products include short PIVC and integrated/closed PIVC. Short peripheral intravenous catheters (PIVC) are less than or equal to 3 inches in length and are used for intravenous medication and are predominantly inserted in general wards. The different intravascular catheter applications include oncology, gastroenterology, renal disease, infectious diseases and other applications which are used by end-users including hospitals, clinics, ambulatory surgical center and homecare.
Major Driver - Elevated Hospitalization Rates Driven By Chronic Diseases Fuel Intravascular Catheters Market Growth
The rising hospitalization rate owing to the high prevalence of chronic diseases is driving the growth of the intravascular catheters market. Globally, the prevalence of chronic illnesses and ailments is rising. Intravascular catheters are used for taking samples for tests and fluids, nutrients, and blood intake during the treatment of chronic diseases. According to an estimation by a German healthcare company, Fresenius Medical Care, the number of people suffering from chronic kidney failure is expected to increase from 3.7 million patients in 2021 to 4.9 million by 2025. Therefore, the rising hospitalization rate owing to the high prevalence of chronic diseases is expected to propel the growth of the intravascular catheters market over the coming years.
Competitive Landscape:
Major companies operating in the intravascular catheters market include Cook Group Incorporated, Smiths Medical Inc., Edwards Lifesciences Corporation, Medtronic Inc., Johnson & Johnson, Abbott Laboratories, Boston Scientific Corporation, Cordis Corporation, Koninklijke Philips NV, Terumo Corporation, ACIST Medical Systems Inc., B. Braun Melsungen AG, Teleflex Incorporated, Hollister Incorporated, Coloplast Corp., ConvaTec Inc., Merit Medical Systems Inc., ICU Medical Inc., AngioDynamics Inc., Vygon SA, Becton, Dickinson and Company, C. R. Bard Inc., Teleflex Medical OEM, Nipro Medical Corporation, Argon Medical Devices Inc., Vascular Solutions Inc., Infus Medical (India) Pvt. Ltd., Angiplast Pvt. Ltd., Romsons Scientific & Surgical Pvt. Ltd., Hindustan Syringes & Medical Devices Ltd.
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Top Trend - Innovative Product Offerings Drive Market Advancements In The Intravascular Catheters Sector
The product innovations are a key trend gaining popularity in the intravascular catheters market . Major players in the intravascular catheters market are focusing on innovation of new products with advanced features to strengthen their position. For instance, in July 2022, B. Braun Medical Inc., a German-based medical and pharmaceutical device manufacturing company, introduced Introcan Safety 2 IV Catheter with one-time blood control making IV access safer for the clinician by lowering the danger of blood exposure and needle stick accidents. Furthermore, in March 2022, Shockwave Medical Inc., a firm that creates and sells medical devices, introduced the Shockwave M5+ catheter is particularly made to treat calcified lesions in the iliac, femoral, iliofemoral, popliteal, infra-popliteal, and renal arteries in the lower limbs that are otherwise difficult to treat.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Intravascular Catheters Market Characteristics
3. Intravascular Catheters Market Trends And Strategies
4. Intravascular Catheters Market - Macro Economic Scenario
5. Intravascular Catheters Market Size And Growth
…..
27. Intravascular Catheters Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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