Enjoy complimentary customisation on priority with our Enterprise License!
The cardiovascular catheters market size is estimated to grow at a CAGR of 7.97% between 2022 and 2027. The cardiovascular catheters market size is forecast to increase by USD 6.97 billion. The growth of the market depends on several factors, including the rising incidence of cardiac diseases and the growth of insurance providers, the harnessing of the market with improved medical imaging and robotic-assisted surgeries, and the growing number of M and A activities.
This market report extensively covers market segmentation by product (cardiovascular therapeutic catheters and cardiovascular diagnostic catheters), end-user (hospitals, ambulatory surgical centers, and clinics), and geography (Asia, North America, Europe, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
View the Bestselling Market Report Sample Instantly
The rising incidence of cardiac diseases and the growth of insurance providers are notably driving the market growth, although factors such as the high cost of cardiovascular procedures may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising incidence of cardiac diseases and the growth of insurance providers is a key drivers for the growth of the market. The incidence of heart disease is increasing in developed as well as developing countries. According to NIH, in 2020, the degenerative abnormalities associated with severe aortic stenosis and mitral and tricuspid regurgitation were found in nearly 10% of the population aged 75 years and above. Therefore, with the expanding aging population base in developed as well as developing countries, the prevalence of heart diseases will likely increase, which, in turn, will augment the growth of the global heart disease treatment devices market during the forecast period.
Moreover, the EU provides European Health Insurance Card (EHIC), which provides access the people to opt for healthcare provided by the state and country. If the procedure cost is less, then the card helps the patient to avail free of cost treatment. However, in some cases, it requires a minimal amount from the patient, which is also known as copayment. Such factors will propel the growth of the cardiovascular catheter market during the forecast period.
Increasing strategic alliances between vendors is a key trend shaping the global cardiovascular catheter market. Strategic alliances can help medical device vendors pursue additional opportunities without significant financial burdens. Such product development and product distribution alliances offer several advantages to suppliers such as cost containment, extended product line, and increased geographical reach.
Furthermore, these factors are boosting the growth of the healthcare devices market, including the global cardiovascular catheter market. Increasing partnerships and collaboration between suppliers, end-users, and government agencies will increase the global presence of suppliers and drive market growth during the forecast period.
Strict regulation and product recall are the major challenges to the growth of the cardiovascular catheter market. Companies are targeting the market by developing cardiovascular catheters that can be useful in cardiac care. However, in some cases, such products may cause side effects that may lead to products being withdrawn from the market.
Therefore, companies must emphasize patient safety to avoid adverse effects. Cardiovascular catheters, such as angiographic catheters used for therapeutic purposes, are considered Class I, II, and III medical devices based on their associated risks. In addition to Class III cardiovascular catheters, regulators are also recalling Class I catheters, which are used to inject contrast material into blood vessels, due to manufacturing or design defects. Such measures will increase the financial burden, which will affect the adoption of these procedures in the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cardiovascular Catheters Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abiomed- The company offers cardiovascular catheters through its subsidiary preCARDIA. Also, the company engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It distributes its products under the Impella brand.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the cardiovascular therapeutic catheters segment will be significant during the forecast period. The cardiovascular therapeutic catheters segment of the global cardiovascular catheters market includes conventional catheters, cutting balloon catheters, scoring balloon catheters, and cardiac ablation catheters. Moreover, the increasing number of angiography procedures to reduce the number of heart attacks and strokes is driving the growth of the market. Hence, to fulfill the demand for angiography procedures, the market is growing moderately for conventional and scoring balloon catheters.
Get a glance at the market contribution of various segments Request a PDF Sample
The cardiovascular therapeutic catheters segment was valued at USD 7.52 billion in 2017 and continue to grow by 2021. Under this segment, companies such as Boston Scientific and BD are focusing on developing next-generation DEBs that are based on coating technology. Moreover, AngioScore, now a part of Spectranetics, developed a Drug-Coated AngioSculpt scoring balloon catheter in the market. Owing to the coating, the catheter can achieve more predictable luminal expansion, which can avoid slippage. Due to the low rate of dissection, such scoring catheters can increase the demand for an angioplasty procedure, which can, in turn, increase the angiography procedures too. Such factors will boost the growth of the global market during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
Asia is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The incidence of CVDs is on the rise in Asia. The region is densely populated and has many developing countries that are experiencing rapid urbanization and economic development. This has increased the disposable income of people, which has led to lifestyle changes such as unhealthy food habits and physical inactivity. These factors can result in obesity and diabetes, which can cause CVDs. These factors will facilitate market growth during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for Asia. However, the initiation of large-scale vaccination drives led to the lifting of lockdowns and the resumption of industrial operations, which has increased the demand for cardiovascular catheters in the region. Thus, the growth of the regional market is expected to stabilize during the forecast period.
The cardiovascular catheters market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
Cardiovascular Catheters Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
168 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 7.97% |
|
Market growth 2023-2027 |
USD 6.97 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
6.57 |
|
Regional analysis |
Asia, North America, Europe, and Rest of World (ROW) |
|
Performing market contribution |
Asia at 39% |
|
Key countries |
US, Germany, UK, China, and India |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Abbott Laboratories, Abiomed Inc., B. Braun SE, Becton Dickinson and Co., BIOTRONIK SE & Co. KG, Boston Scientific Corp., CardioFocus Inc., Cardionovum GmbH, Cardiovascular Systems Inc., CathRx Pty Ltd., Cook Medical LLC, Edwards Lifesciences Corp., Getinge AB., Innovative Cardiovascular Solutions LLC, LivaNova Plc, Medtronic Plc, Merit Medical Systems Inc., MicroPort Scientific Corp., Terumo Corp., and ZOLL Medical Corp. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
