Catheter Market Size Worth USD 53.97 Billion in 2032 | Emergen Research

The global catheter market size was USD 24.33 billion in 2022 and is expected to register a rapid revenue CAGR of 8.4% during the forecast period. The global catheter market is experiencing remarkable growth, fueled by a surge in demand for minimally invasive procedures and an increasing prevalence of chronic diseases such as cardiovascular disorders and urological conditions worldwide. Key factors contributing to this growth include the rising demand for minimally invasive procedures, advancements in catheter technology, and the escalating number of cardiovascular and urological cases globally.

The rise in chronic disease cases necessitates the use of catheters for various medical purposes, including drug delivery, drainage, and medical testing. As per recent developments, medical technology is revolutionizing catheter manufacturing by integrating sensors and utilizing advanced materials like Nitinol, enhancing the efficiency and precision of medical procedures.

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One of the notable trends driving market growth is the adoption of embedded electronics in catheters, simplifying their operation and making them more portable and efficient. This innovation is transforming the landscape of minimally invasive surgery, offering surgeons enhanced visibility and control during procedures.

Despite the promising outlook, certain challenges hinder market growth. These include a lack of awareness about advanced catheter usage, inadequate training facilities for professionals, and occasional safety concerns such as product recalls. For instance, the recall of the Dragonfly OpStar imaging catheter by the Food and Drug Administration (FDA) underscores the importance of stringent quality control measures in catheter manufacturing.

Market Segment Insights

Cardiovascular Catheters:

The cardiovascular catheters segment dominates the global market, driven by ongoing improvements in basic catheter technology and the increasing prevalence of cardiovascular diseases. Factors such as the aging population and advancements in ambulatory care contribute to the segment's growth trajectory.

Urology Catheters:

The urology catheters segment is experiencing moderate growth, attributed to its effectiveness in treating various urological conditions such as urinary tract infections and bladder cancer. Government support for research and development further propels the segment's expansion.

End-Use Insights:

Hospitals and clinics constitute the largest segment of the catheter market, owing to their comprehensive infrastructure and specialized expertise in handling advanced catheters. The availability of trained professionals and the rising demand for high-quality catheters drive growth in this segment.

Market Outlook

Looking ahead, the global catheter market is poised for substantial growth, driven by ongoing technological innovations and the increasing prevalence of chronic diseases worldwide. Manufacturers are focused on research and development to enhance product offerings, further fueling market expansion.

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Catheter Top Companies and Competitive Landscape

The global catheter market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective catheter solutions in the market.

• Hollister Incorporated
• Boston Scientific Corporation
• Edward Lifesciences Corporation
• Smith Medical Inc.
• Teleflex Incorporated
• ConvaTec Group Plc
• Cure Medical LLC
• Braun Melsungen AG
• Coloplast
• Medtronic PLC
• Abbott
• Becton Dickinson and Company
• Bard
• Cook Group
• Vitality Medica
• Apexmed International
• BioDerm
• Dileh Medical Supplies
• Poiesis Medical
• Sterimed
• Shockwave Medical, Inc.

Catheter Latest Industry News

• On 14 March 2023, Shockwave Medical, Inc., a trailblazer in the advancement of Intravascular Lithotripsy (IVL) for the treatment of highly calcified cardiovascular disease, revealed the complete commercial availability of the Shockwave L6 Peripheral IVL Catheter in the U.S. This comes after the clearance granted by the U.S. Food and Drug Administration (FDA). The Shockwave L6 catheter is specifically designed to address calcification in challenging lesions within large peripheral vessels, including the iliac and common femoral arteries.

• On 18 February 2022, Medtronic plc, a prominent global healthcare technology company, announced that the Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters have received approval from the U.S. Food and Drug Administration (FDA). These catheters are the first and only ablation catheters specifically developed to tackle the increasing incidence of pediatric Atrioventricular Nodal Reentrant Tachycardia (AVNRT). AVNRT, the most prevalent form of Supraventricular Tachycardia (SVT), poses a life-threatening abnormal heart rhythm, with an annual occurrence of 89,000 cases and a rising trend. Approximately 35% of AVNRT cases affect pediatric patients, defined as individuals under the age of 18.

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Catheter Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global catheter market on the basis of product type, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o Cardiovascular Catheters
1. Electrophysiology Catheters
2. Angiography Catheters
3. Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloon Catheters
4. Intravascular Ultrasound (IVUS) Catheters
5. Percutaneous Transluminal Angioplasty (PTA) Balloon Catheters

o Urology Catheters
1. Hemodialysis Catheters
2. Peritoneal Catheters
3. Foley Catheters
4. Intermittent Catheters
5. External Catheters

o Intravenous Catheters
1. Peripheral Catheters
2. Midline Peripheral Catheters
3. Central Venous Catheters
o Neurovascular Catheters
o Non-Tunneled Central Catheters
o Skin-Tunneled Central Catheters
o Specialty Catheters
1. Wound/Surgical Catheters
2. Oximetry Catheters
3. Thermodilution Catheters
4. Intrauterine Insemination (IUI) Catheters

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals and Clinics
o Long-Term Care Facilities
o Diagnostic Imaging Center
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

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