Cardiovascular Catheters Market Size, Share & Industry Analysis, By Type (Cardiovascular Therapeutic Catheters and Cardiovascular Diagnostic Catheters), By Application (Hospitals, Clinics, and ASC) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Updated On: 13 November 2023

Cardiovascular Catheters Market Report Overview

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The global cardiovascular catheters market size was USD 5394 million in 2021 and is projected to touch USD 8104.47 million by 2031, exhibiting a CAGR of 4.1% during the forecast period.

The act of inserting a catheter into a heart chamber or blood artery is known as cardiac catheterization. This is carried out for both diagnostic and therapeutic reasons. This procedure has several subsets, the most common of which is coronary catheterization, which involves the catheterization of the coronary arteries as well as the heart chambers and valves.

A catheter is a short, flexible tube that is used to treat a variety of illnesses, including those of the neurological system, gastrointestinal tract, urology, and the heart. Urinary catheters, which are flexible, hollow tubes that are inserted into the bladder to drain urine. Catheters are used on people who, due to medical conditions, are unable to naturally empty their bladders. Catheters are available in a range of materials and can be left in place for weeks. Additionally, catheters may be implanted temporarily or permanently into the brain, skin, and ducts.

COVID-19 Impact: Unceasing Spread of COVID-19 Virus generated a Rigid Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with the Cardiovascular catheters market experiencing lower-than anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The development of the industry is ascribed to developments in technology, actions taken by various governments and organizations, and an increase in the prevalence of chronic diseases. The industry was negatively impacted by COVID-19. The number of normal and elective operations, such as cardiac catheterization procedural volume, significantly decreased as a result of hospitals being required to make room for potential patients due to COVID-19 emergency cases.

LATEST TRENDS

"Advancements in the Product to Foster Market Growth"

Industry participants are concentrating on producing accurate, effective, and cost-efficient catheters that would aid in boosting the market share for catheters throughout the anticipated time period. These catheters help shorten the time needed for hemostasis and reduce bleeding after interventional surgery. The increase in patients with chronic illnesses has encouraged the use of catheters and is expected to fuel market expansion in the near future.

Cardiovascular Catheters Market Segmentation

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• By Type

Based on type; Cardiovascular Therapeutic Catheters and Cardiovascular Diagnostic Catheters.

• By Application

Based on application; Hospitals, Clinics, and ASC.

DRIVING FACTORS

"Increasing Prevalence of Cardiovascular Diseases to Augment Market Growth"

The need for technologically advanced products has increased as a result of the aging population, rising cardiovascular disease prevalence, and associated interventional procedures. An earlier diagnosis and patient discharge are benefits of increased use of these cutting-edge products. These medications increase patient comfort while reducing serious surgical consequences like bleeding and thrombosis of the veins. These factors are anticipated to foster cardiovascular catheters market growth in coming years.

"Increasing Number of Geriatric Population to Boost Market Advancements "

One of the main issues in developing nations worldwide is the growing senior population. Additionally, an expected period of time would see an increase in the market for catheters due to the rising prevalence of chronic diseases in geriatric patients, such as aortic disease, venous thromboembolism, peripheral arterial disease, etc. Benefits including cheap procedure costs, less postoperative problems, and minimal nursing care requirements are driving up demand for these cutting-edge gadgets and are expected to fuel segment growth in the near future. The use of vascular catheters was approximately 54% worldwide in 2019, according to a study that was published in the journal BMC Nephrology. One of the common tools used in the treatment of numerous cardiovascular problems is the vascular catheter.

RESTRAINING FACTORS

"Relatively High Costs of the Product Restricts Market Growth"

The expensive cost of sophisticated catheters could limit industry expansion. A growing proportion of patients undergoing catheterization operations need innovative catheters because they have chronic and cardiovascular disorders like urine bladder, renal failure, and coronary heart disease. The adoption rate of catheters, however, may decline because these conditions need expensive catheterization operations.

Cardiovascular Catheters Market Regional Insights

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"Increasing Demand for the Product to Foster Growth in Asia Pacific"

Asia Pacific is anticipated to have the largest cardiovascular catheters market share. Due to the region's growing cardiovascular disease prevalence and aging population, which is driving up demand for cardiac catheters in clinics, hospitals, and operating rooms, the region is predicted to have the quickest increase throughout the analyzed period.

During the forecast period, North America is anticipated to hold a dominant market share for cardiovascular catheters worldwide. Some of the factors driving the cardiovascular catheter market in North America are the increasing prevalence of cardiovascular illnesses, rise in obesity and an unhealthy lifestyle, increase in the number of surgeries, and high health care spending.

KEY INDUSTRY PLAYERS

"Key Players Aim to Develop Strategies to Spread Awareness"

The key cardiovascular catheters market players look to boost the demand and supply of the processes due to the rise of agricultural, mining and oil and gas industries. They also begin to strategize to alter the product through research and development processes to match consumer needs, and increase the amount of advertising to attract more suited consumers in diverse markets. Additionally, the key players also improve the products applications to get higher sales in the market.

List of Market Players Profiled

• Boston Scientific (U.S.)
• Abbott (U.S.)
• C.R. Bard (U.S.)
• Medtronic (Ireland)
• Acrostak (Switzerland)
• Andocor (Belgium)

REPORT COVERAGE

This report is inclusive of the types of the cardiovascular catheters and its latest trends, current driving and restraining factors within the market. Additionally, this report details down the key industry players and their strategies and why the leading region earns its position.