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Catheters Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

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  • 112 Pages
  • November 2021
  • Region: Global
  • Acute Market Reports
  • ID: 5616020

Catheters Market to Exhibit Productive Growth during the Forecast Period

The global catheters market is growing productively, was valued at US$ 17.97 Bn in 2020 and expected to reach US$ 34.96 Bn by 2029. Globally increasing surgical procedures, the high prevalence of cardiovascular diseases (majorly congestive heart failure, cardiac arrhythmia, and cardiac arrest), kidney diseases and urinary tract infections has significantly boosted the market growth in the current years.

New product launches in the urology, neurovascular and specialty catheter segment is driving the growth in the developed regions. In the product segment, the cardiovascular catheter is expected to lead the market growth due to its higher consumption globally. As indicated by WHO and American College of Cardiology Foundation, the estimated cost of cardiovascular diseases will be around $1.1 billion by 2030. Moreover, more than 90 Mn U.S citizens carry a diagnosis of cardiovascular disease.

Demand for minimally invasive surgeries along with various catheterization procedures (angioplasty, neurosurgery) is increasing in the hospital settings. Rising medical tourism for surgery, usage of branded catheters with top applications, and adoption of advanced medical devices along with favorable reimbursement policies fuel the demand for catheters market worldwide. However, the risk of catheter-associated infections, the high cost of surgery, poor quality assurance, intense price competition in the domestic market mainly in Latin America and the Asia Pacific are liable for restraining the overall growth of catheters market globally.

Cardiovascular Catheter Product Segment is expected to Register Higher Growth by the End of 2029

Adoption of a cardiovascular catheter is high as compared to others in the product segment. New technology assessment in the electrophysiology catheters, PTCA (percutaneous transluminal coronary angioplasty) balloon catheters, and IVUS (Intravascular Ultrasound) catheters is gaining traction during the forecast period. The global demand for cardiovascular catheters is attributed to remain the highest among others, due to the rising prevalence of cardiovascular diseases. According to WHO and American College of Cardiology estimates, cardiovascular diseases account for around 800,000 deaths in the U.S. and on a global level, it accounts for more than 30% of all deaths.

In addition, increased applications in coated catheters, percutaneous transluminal angioplasty catheters, intermittent catheters, and integrated catheters is further going to spur revenue growth during the forecast period. Additionally, rising demand for disposable & sterile catheters, improvement in better reimbursement models, and new technology assessment in catheter technology are few factors driving the growth of the market.

Increasing Admissions Due to Respiratory Disorders in the Hospital Segment to Witness a Significant CAGR

Rising heart diseases, cardiovascular, cancer, urinary tract infections, and other chronic diseases are noteworthy variables predictable for the growth & development of the global catheters market. As per, Centers for Disease Control and Prevention (CDC), around 28 Mn individuals in the U.S. were diagnosed with heart disease. Also, around 609,640 individuals in the U.S. are expected to die from cancer in 2021, data by American Cancer Society.

Growing demand for microcatheters, specialty catheters, peripheral venous catheters PTCA balloon catheters, Foley catheters, and dialysis catheter products in hospitals are driving the growth of the market. Growing elderly population along with rising surgical procedures in Europe and the Asia Pacific is a major factor in expanding the growth of the end user segment. In 2020, hospitals segment contributed the maximum revenue share, due to the increasing number of government-run and private hospitals. Moreover, initiatives taken by government activities to decrease the hospital costs support the global catheters market. Additionally, noteworthy development in the ambulatory surgical centers, clinics, and cardiovascular centers has sustained the administrations of catheters due to its ease-of-usage, minimally invasive nature and improved competences. (Others in the end user segment include -specialty clinics, cardiovascular centers)

Increasing Population, New Product Launches and the Presence of Top Players Holds North America in Dominant Position

According to WHO, every year more than 17.5 Mn individuals die from cardiovascular diseases (CVDs). In 2020, North America generated maximum revenue share in the global catheters market attributed to the rising prevalence of cardiovascular & kidney disorders, urinary infections, strokes and heart attack. Moreover, increasing minimally invasive surgical procedures, and utilization of branded catheters as a standard of care in hospitals and ambulatory surgical centers are few factors driving the growth of the market. Others factors contributing to the overall growth of the market include, new product launches include the usage of improved materials that have strong biocompatibility. For instance, silicone Foley catheter is favored due to its long lifespan, also reduces the probabilities of infection during the procedure.

Major factors contributing to the overall growth include growing awareness about advanced medical technology, riding hospitalizations, increasing FDA approvals for new products and the presence of top manufacturers in North America & Europe. However, in lower economic nations such as India, China, Brazil, and South Africa, the availability of advanced medical devices is limited. Lack of trained surgeons, less suitability of medical treatment and the high cost of medical devices are restraining the growth of the market during the forecast period.

Dominance of Multinational Manufacturers with Strong Product Portfolio in the Developed Regions

Major players in the catheters market are Teleflex Incorporated, Abbott Laboratories, JOHNSON & JOHNSON, B. Braun Melsungen AG, Medtronic plc. , Cook Group, Becton Dickinson and Company, C. R. Bard, Inc., Boston Scientific Corporation, Integer Holdings Corporation, Hollister, Inc., Coloplast A/S, and others.

Top enterprises are executing growth strategies along with new technology development in catheters models, new product launch, merger & acquisitions and partnerships with medical technology organizations. For example, in January 2020, Abbott Laboratories acquired St. Jude Medical (medical device manufacturer) for around US$ 23.5 Bn. In January 2021, Surmodics, Inc. received approval for coronary/peripheral support microcatheter from the U.S. FDA.

Historical & Forecast Period

This study report represents analysis for each segment from 2019 to 2029 considering 2020 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2021 to 2029.

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall catheters market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report

  • What are the current market trends and dynamics in the catheters market and valuable opportunities for emerging players?
  • Market positioning of major key players operating in the market?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which product type holds a larger market share and why?
  • What is the impact of high cost in the catheters market?
  • Are low and middle-income economies investing in the catheters market?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?

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Table of Contents

Chapter 1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
Chapter 2. Executive Summary
2.1. Global Catheters Market Portraiture
2.2. Global Catheters Market, By Product Type, 2020 (US$ Mn)
2.3. Global Catheters Market, By End User, 2020 (US$ Mn)
2.4. Global Catheters Market, by Geography, 2020 Vs 2029 (Value %)
Chapter 3. Global Catheters Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Catheters Market Technologies: Future Trends
3.3. Current Scenario: New Product Launches, High prevalence For Cardiovascular Diseases
3.4. Challenges
3.5. Opportunities
3.6. Attractive Investment Proposition, by Geography, 2020
3.7. Competitive Landscape
3.7.1. Competitive Landscape, by Key Players, 2020
Chapter 4. Global Catheters Market, by Product Type, 2019 - 2029 (US$ Mn)
4.1. Overview
4.2. Urinary Catheters
4.3. Intravenous Catheters
4.4. Cardiovascular Catheters
4.5. Neurovascular Catheters
4.6. Specialty Catheters
Chapter 5. Global Catheters Market, By End User, 2019 - 2029 (US$)
5.1. Overview
5.2. Hospitals
5.3. Ambulatory Surgical Centers
5.4. Dialysis Centers
5.5. Others (Specialty Clinics, Cardiovascular Centers)
Chapter 6. Global Catheters Market, by Geography, 2019 - 2029 (US$ Mn)
6.1. Overview
6.2. North America Catheters Market Analysis, 2019 - 2029
6.2.1. North America Catheters Market, By Product Type, 2019 - 2029 (US$ Mn)
6.2.2. North America Catheters Market, By End User, 2019 - 2029 (US$ Mn)
6.2.3. North America Catheters Market, by Country, 2019 - 2029 (US$ Mn) U.S. Canada
6.3. Europe Catheters Market Analysis, 2019 - 2029
6.3.1. Europe Catheters Market, By Product Type, 2019 - 2029 (US$ Mn)
6.3.2. Europe Catheters Market, By End User, 2019 - 2029 (US$ Mn)
6.3.3. Europe Catheters Market, by Country, 2019 - 2029 (US$ Mn) U.K. Germany Rest of Europe
6.4. Asia Pacific Catheters Market Analysis, 2019 - 2029
6.4.1. Asia Pacific Catheters Market, By Product Type, 2019 - 2029 (US$ Mn)
6.4.2. Asia Pacific Catheters Market, By End User, 2019 - 2029 (US$ Mn)
6.4.3. Asia Pacific Catheters Market, by Country, 2019 - 2029 (US$ Mn) Japan China Rest of APAC
6.5. Latin America Catheters Market Analysis, 2019 - 2029
6.5.1. Latin America Catheters Market, By Product Type, 2019 - 2029 (US$ Mn)
6.5.2. Latin America Catheters Market, By End User, 2019 - 2029 (US$ Mn)
6.5.3. Latin America Catheters Market, by Country, 2019 - 2029 (US$ Mn) Brazil Mexico Rest of Latin America
6.6. Middle East & Africa (MEA) Catheters Market Analysis, 2019 - 2029
6.6.1. MEA Catheters Market, by Product Type, 2019 - 2029 (US$ Mn)
6.6.2. MEA Catheters Market, By End User, 2019 - 2029 (US$ Mn)
6.6.3. MEA Catheters Market, by Region, 2019 - 2029 (US$ Mn) GCC Rest of MEA
Chapter 7. Company Profiles
7.1. Teleflex Incorporated
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Product Portfolio
7.1.4. Key Developments
7.2. Abbott Laboratories.
7.4. B. Braun Melsungen AG
7.5. Medtronic plc.
7.6. Cook Group
7.7. Becton Dickinson and Company
7.8. C. R. Bard, Inc.
7.9. Boston Scientific Corporation
7.10. Integer Holdings Corporation
7.11. Hollister, Inc.

Companies Mentioned

  • Teleflex Incorporated
  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Medtronic plc.
  • Cook Group
  • Becton Dickinson and Company
  • C. R. Bard Inc.
  • Boston Scientific Corporation
  • Integer Holdings Corporation
  • Hollister