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Cath Lab Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 120 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5616692
UP TO OFF until Dec 31st 2023
The Cath Lab Services market is expected to register a 5.8% CAGR during the forecast period, 2022-2027.

Several countries were placed on lockdown in the early days of the pandemic. In the first half of 2020, the government banned trade with other countries and imposed travel restrictions, resulting in a decrease in healthcare services such as diagnoses, treatments, and surgical procedures. According to the findings of a nationwide survey by the Society for Cardiovascular Angiography and Interventions (SCAI) and the American College of Cardiology (ACC) Interventional Council conducted in September 2020, catheterization laboratories showed an "unprecedented" decline in cardiovascular interventions during the COVID-19 pandemic, and those delayed procedures tracked with regional COVID-19 burden. Moreover, the American College of Cardiology (ACC) and the Society for Cardiovascular Angiography and Interventions (SCAI) began helping cath labs prepare for the onslaught of the pandemic in March 2020 with a joint statement that provided advice on a variety of issues, including patient selection, resource allocation, and protection of healthcare workers. Therefore, such initiatives are creating lucrative opportunities for the cath lab services market. In turn, it is expected to be continued in the given time frame.

Hospitals halted performing elective treatments during the peak of the pandemic in the spring, including numerous non-urgent cath lab procedures like PCI and transcatheter aortic valve replacement. Hospitals have not stopped performing such treatments during the pandemic's peak but are seeking to strike a balance between COVID-related safety concerns and the need to undertake some CV procedures. With the increasing spread of COVID-19 and the prevailing burden of cardiovascular diseases, people have become more aware of their health and start taking regular health check-ups, which is expected to foster the growth of the market.

Certain factors that are driving the market growth include the increasing prevalence of cardiovascular disorders and technological advancements. An increasing patient pool of cardiovascular diseases (CVDs) is one of the prime factors augmenting the growth of the cath lab services market. Sedentary lifestyles, junk food consumption, and mental stress are other key factors associated with the development of CVDs. According to the World Health Organization (WHO) data updated in June 2021, globally, cardiovascular diseases account for more than 32% of deaths in 2019. Also, nearly 33.5 million people, globally, are suffering from atrial fibrillation (AFib), which is the most common type of serious arrhythmia in 2019. With the rise in the aging population across the world, the number of patients suffering from heart rhythm disorders is likely to witness an increase and this is a cause for concern. This will lead to increased adoption of cath lab services, thereby expected to drive the growth of the studied market. ​

However, the major restraining factor for the market is the lack of proper reimbursement systems, globally, which poses significant challenges to the growth of the cath lab services market.

Key Market Trends

Diagnostic Segment is Expected to Hold the Significant Market Share in the Market

The diagnostic segment is expected to dominate the target market growth during the forecast period. Cardiac catheterization is a common procedure that can help diagnose heart disease. In some cases, catheterization is also used to treat heart disease by opening blocked arteries with balloon angioplasty and stent placement.

Cardiac catheterization helps in the diagnosis of multiple heart diseases, atherosclerosis, cardiomyopathy, congenital heart disease, heart failure, and heart valve disease. With the growing burden of cardiovascular diseases all over the world, the diagnostic segment is expected to witness significant growth. According to the World Health Organization, in June 2021, globally, cardiovascular disease is one of the leading causes of death. Hence, the diagnosis of it has become most crucial to decrease the burden. Moreover, according to the World Health Organization, in June 2021, an estimated 17.9 million people died from cardiovascular disease in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. This alarming situation is leading to growing awareness regarding disease management and the importance of diagnostics among people. Thus, owing to the abovementioned factors, it is expected to drive the diagnostic segment growth over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to account for the largest share of the global cath lab service market. The region's cath lab service market is expected to benefit from the well-established healthcare industry, the growing burden of cardiovascular diseases, rising healthcare expenditure, and increasing preference for robotic-assisted surgeries. For instance, according to the National Health Expenditure Accounts, data released in December 2021, the United States spent 4.1 trillion dollars on healthcare in 2020.

Moreover, the high prevalence of chronic diseases, this region has become the hub of the major players. According to the American Heart Association’s Heart & Stroke Statistics 2020 Update, there are more than 356,000 out-of-hospital cardiac arrests (OHCA) in the United States each year, with over 90% of these being fatal. The annual incidence of non-traumatic OHCA is estimated to be 356,461, or about 1,000 people each day. This will lead to increased adoption of cath lab services in the region, thereby expected to drive the growth of this market. ​

In the United States, Good Samaritan Medical Center in Florida and PeaceHealth Sacred Heart Medical Center at River Bend, Alaska are some of the players that provide diagnostic services. In addition to this, several market players are engaged in the business expansion, thereby contributing to the region's growth. For instance, in May 2022, the Cardiac Catheterization Lab at Mary Lanning Healthcare was upgraded. The new Intrasight platform, which combines iFR (instantaneous wave-free ratio) and high-definition intravascular ultrasound (IVUS)digital, is the first upgrade (intravascular ultrasound). The new high-definition IVUS delivers a clearer picture and more information about the heart's arteries.

Hence, such factors will have a positive influence on the target market growth in the forecasted period.

Competitive Landscape

Key Players operating in the market include Alberta Health Services, Alliance Healthcare Services, Alliance Medical, Campbell Country Health, Inhealth Group, Netcare Hospital, Ramsay Healthcare, PeaceHealth, Peterborough Regional Health Center, Canyon Vista Medical Center, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Incidence of Cardiac Diseases
4.2.2 Increasing Preference for Robot-Assisted Surgeries
4.3 Market Restraints
4.3.1 High Operating and Maintenance Cost
4.3.2 Reimbursement Issue
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Type of Service
5.1.1 Therapeutics
5.1.2 Diagnostics
5.2 Geography
5.2.1 North America United States Canada Mexico
5.2.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.2.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.2.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.2.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Alberta Health Services
6.1.2 Alliance Healthcare Services
6.1.3 Alliance Medical
6.1.4 Campbell Country Health
6.1.5 Inhealth Group
6.1.6 Netcare Hospital
6.1.7 Ramsay Healthcare
6.1.8 PeaceHealth
6.1.9 Peterborough Regional Health Center
6.1.10 Canyon Vista Medical Center

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Alberta Health Services
  • Alliance Healthcare Services
  • Alliance Medical
  • Campbell Country Health
  • Inhealth Group
  • Netcare Hospital
  • Ramsay Healthcare
  • PeaceHealth
  • Peterborough Regional Health Center
  • Canyon Vista Medical Center