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Angiographic Catheters Market 2024 - By Size, Competitive Landscape, Upcoming Trends And Outlook By 2033
Angiographic Catheters Market
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According to The Business Research Company's, The angiographic catheters market size has grown strongly in recent years. It will grow from $1.18 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increasing incidences of cardiovascular diseases, a rise in domestic income, a rising geriatric population, increasing preferences for minimally invasive surgeries, and government initiatives to raise awareness.
The angiographic catheters market size is expected to see strong growth in the next few years. It will grow to $1.86 billion in 2028, at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to increasing demand for accurate diagnosis, a rise in healthcare expenditure, an expansion in e-commerce for medical supplies, an increasing prevalence of chronic diseases, and the adoption of minimally invasive procedures. Major trends in the forecast period include technological advancements, growth in R&D activities, integration of AI in diagnostics, growth of telemedicine, rise in personalized medicine, and expansion of outpatient care.
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Market Drivers and Trends:
The rising number of heart surgeries is expected to propel the growth of the angiographic catheters market going forward. Heart surgery, also known as cardiac surgery, encompasses a variety of surgical procedures performed on the heart or the great vessels. The number of heart surgeries is increasing due to several reasons, such as an aging population, a rise in cardiovascular diseases, advancements in medical technology, and better surgical outcomes. Angiographic catheters are used in heart surgeries to visualize coronary arteries, enabling precise diagnosis and treatment of blockages or abnormalities. For instance, in August 2023, according to the reports published by the National Health Service (NHS), a UK-based healthcare service, there were 215 heart transplant surgeries performed in the UK during the 2021-2022 financial year, which represents a 20% increase compared to the previous year (2020-2021), when 179 surgeries were conducted. Therefore, the rising number of heart surgeries is driving the growth of the angiographic catheters market.
Major companies operating in the angiographic catheters market are focusing on developing advanced technologies such as fiber optic realShape (FORS) technology to enable real-time, high-resolution 3D imaging during catheter navigation, reducing radiation exposure and enhancing precision in complex vascular procedures. Fiber Optic RealShape (FORS) technology is an advanced imaging platform that utilizes light reflected through optical fibers within medical devices to create real-time, high-resolution 3D visualizations of their shapes inside the body, enabling precise navigation during minimally invasive procedures. For instance, in February 2024, Philips Healthcare, a Netherlands-based health technology company, launched the LumiGuide, a light-based, radiation-free catheter guidance system for endovascular aortic procedures. Utilizing fiber optic realShape (FORS) technology, LumiGuide generates real-time, high-resolution, 3D images of devices within the body, enabling navigation without the need for X-ray angiography. Its key features include improved 3D visualization of catheters, reduced radiation exposure, immediate feedback on device orientation, and AI-assisted registration for enhanced accuracy during complex procedures. It is available in select hospitals across Europe and the U.S., LumiGuide aims to bolster patient safety and procedural efficiency.
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Major Key Players of the Market:
Cardinal Health Inc., Abbott Laboratories, Medtronic plc, Koninklijke Philips N.V., Becton Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, Nipro Corporation, Cook Medical Inc., Teleflex Incorporated, BIOTRONIK SE & Co. KG, Lepu Medical Technology (Beijing) Co Ltd., Merit Medical Systems Inc., Cordis Corporation, MicroPort Scientific Corporation, Asahi Intecc Co Ltd., AngioDynamics Inc., Biosensors International Group Ltd., Alvimedica Medical Technologies, BrosMed Medical Co Ltd., iVascular SLU, Reva Medical Inc.
Angiographic Catheters Market 2024 Key Insights:
• The angiographic catheters market size is expected to see strong growth in the next few years. It will grow to $1.86 billion in 2028, at a compound annual growth rate (CAGR) of 9.5%.
• Rising Heart Surgeries Fuel Growth In The Angiographic Catheter Market
• Innovations In Angiographic Catheters Enhance Patient Safety And Procedural Efficiency
• North America was the largest region in the angiographic catheters market in 2023
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