Overview of the global diagnostic catheters market
It has been observed that almost 14% of the total population is affected by neurological disorders such as epilepsy, Alzheimer's disease, stroke, multiple sclerosis, and Parkinson's disease. The rising incidence of neurological disorders, infertility, urological, and gastroenterological diseases is driving the need for diagnostic procedures. Technavio’s market research report identifies that the increasing demand for diagnostic procedures will be one of the primary growth drivers for the global diagnostic catheters market until 2021.
In addition, the adoption of diagnostic catheter supplies is increasing due to the rising prevalence of reproductive health issues and urological and gastroenterological issues. Furthermore, environmental factors associated with urbanization is resulting in an increased incidence of sexually transmitted diseases (STDs) and obesity. This, in turn, will further boost the adoption of diagnostic catheters. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 5% by 2021.
Diagnostic catheters market share based on regions
In terms of geographic regions, the Americas will be the major revenue contributor to the diagnostic catheters market throughout the next few years. The huge shift in end-user preference from conventional procedures to minimally invasive (MI) procedures is encouraging physicians in this region to use catheters to perform diagnostic procedures. The rising older population and the growing prevalence of cardiovascular diseases (CVD) will positively influence the market’s growth in the coming years. Furthermore, the increasing disposable income and the availability of favorable reimbursement policies will also continue to drive the adoption of technologically advanced diagnostic catheters in this region.
Diagnostic catheters market key players
The smaller players in the diagnostic catheters market have a limited product portfolio and the vendors in this marketspace are increasingly competing against each other based on factors such as pricing, product differentiation, and distribution partnerships. To improve their market positions and enhace their revenue shares, the vendors in this guiding catheter market are focusing on the development of new and innovative products.
Key vendors in the diagnostic catheters market
Diagnostic catheters market segmentation by product
Angiography catheters are used to perform angiographic procedures to deliver radiopaque media and therapeutic agents to target sites in the vascular system with the help of these catheters. The rising incidence of coronary artery disease (CAD) is driving the adoption of angiography catheters in countries in the Americas. With the increasing number of individuals with diabetes, the demand for angiography catheterswill further increase in the coming years. As a result, the angiography catheters market segment will account for the major shares of this market throughout the next few years.
Diagnostic catheters market segmentation by end-users
Ambulatory surgery centers (ASCs)
Diagnostic and imaging centers
A large number of surgeons perform various procedures using diagnostic catheters. The diagnostic procedures can be complex and may require constant monitoring by doctors. Also, large hospitals are spending heavily on technologically advanced and expensive devices for diagnosis. Furthermore, the trend for efficient and enhanced patient diagnosis in hospitals will drive growth in the segment during the projected period.