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Catheters Market Future Challenges and Industry Growth Outlook by 2020-2025

Author : Ronak Bora | Published Date : 2020-09-08 

Catheters Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global catheters market size is expected to proliferate at a rapid pace over 2019-2025, owing to rising prevalence of urological, neurological, and cardiovascular diseases across the globe.

Likewise, advances in technology for catheterization, such as flexibility, precise lesions, & extended instrument capability, will amplify industry demand over the projected timeline. Multiple benefits in using advanced catheters include ease of surgical procedures, reduction of treatment time, and high assistance in minimally invasive procedures.

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Introduction of antimicrobial coated & navigation-enabled ablation catheters will aid in the electrophysiology process, which in turn, is anticipated to augment the catheters market expansion in years to come. For instance, the new Rhythmia™ 3-dimensional (3D) mapping system, designed to reduce radiation exposure during ablation therapies, leverages a pair of advanced ablation catheters, such as the IntellaNav™ MiFi XP catheter and IntellaNav ST catheter for procedures involving AVRT (atrioventricular (AV) reentrant tachycardia), AVNRT (AV nodal reentrant tachycardia) or atrial flutter.According to reliable reports, the global catheters market size is expected to exceed $79 billion by 2025.

Mounting adoption of pro slit covered tip, PTFE, hydrophilic, & other innovative catheter technologies is likely to make significant contributions to the catheters industry forecast. High accessibility to technologically advanced products such as mariner hydrophilic angiographic catheter has been observed, which offers several usage benefits including smooth navigation and reduced catheter surface friction.

However, high product costs may considerably impede catheters market growth in the underdeveloped and developing economies.

Neurovascular catheters industry size generated revenues worth USD 2 billion during 2018 and is anticipated to gain momentum during the projected timeframe. These catheters offer a range of benefits such as excellent flexibility and safe navigation of the intracranial system which makes them an effective component during treatment of neurological health conditions.

On the basis of lumen, global catheters market share is segmented into single-lumen, double-lumen, and triple-lumen. Double-lumen catheters industry share will record robust growth at a CAGR of 11.5% over 2019-2025. Dual lumen catheters consist of two channels. One of the channels is used for injection and the other for removal of fluids that are required for various thoracic processes.

An increasing number of patients are now inclining towards peripheral and interventional surgical procedures. Double-lumen urological, drainage and venous catheters find widespread use in these surgical procedures. Catheters market size is segmented into hospitals & clinics, ambulatory surgical care centers, and specialty centers, among others based on end-user.

Hospitals & clinics end-use segment is projected to capture over 32% share of global catheters industry during the forecast period. This can be largely attributed to increased focus on the development of sophisticated healthcare infrastructure to enhance patient care.

U.S. catheters market share was valued at USD 11.9 billion in 2018. Rising consumer inclination towards non-invasive surgical procedures has been a major factor driving the regional growth. Robust healthcare expenditure and strong demand for modern, clinically advanced medical therapies is anticipated to open up ample market opportunities for local manufacturers and suppliers.

Healthcare organizations are aiming to deliver advanced and effective treatment options to patients at economical costs. Moreover, many hospitals are offering favorable reimbursement policies which is driving the segmental growth. Increased expenditure from healthcare organizations on technologically advanced and modern equipment will undeniably offer favorable prospects to catheter equipment manufacturers.

The U.S. catheters market was valued at nearly $11.9 billion in 2018, which can be credited to the high implementation of non-invasive surgical procedures, along with escalating demand for advanced treatments. Additionally, the region is witnessing increased healthcare spending and a robust presence of major industry players.

Moreover, catheters have been gaining traction in Asia Pacific due to accelerating catheterization procedures, thus fostering regional market growth.

Key catheters industry players include Wellspect Healthcare, Teleflex, Stryker Corporation, Smiths Medical, Medtronic, Manfred Sauer, Johnson and Johnson, Hollister Incorporated, Edwards Life Sciences Corporation, and Abbott Laboratories, among others. These firms are focusing on strengthening their footprints in the market through various organic and inorganic growth strategies.

For instance, Smiths Medical received the FDA clearance and launched the ‘Delta Med Closed System Catheter’ in the U.S. in March 2018. This product launch has enabled the company to expand its customer base and gain more revenue share. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/catheters-market

Partial Chapter of the Table of Content 

Chapter 5.  Catheters Market, By Lumen   

5.1. Key segment trends

5.2. Single-lumen

5.2.1.  Market size, by region, 2014 – 2025 (USD Million)

5.3. Double-lumen

5.3.1.  Market size, by region, 2014 – 2025 (USD Million)

5.4. Triple-lumen

5.4.1.  Market size, by region, 2014 – 2025 (USD Million)

5.5. Others

5.5.1.  Market size, by region, 2014 – 2025 (USD Million)

Chapter 6.  Catheters Market, By End-use   

6.1. Key segment trends

6.2. Hospitals & clinics

6.2.1.  Market size, by region, 2014 – 2025 (USD Million)

6.3. Specialty centers

6.3.1.  Market size, by region, 2014 – 2025 (USD Million)

6.4. Ambulatory Surgical centers (ASCs)

6.4.1.  Market size, by region, 2014 – 2025 (USD Million)

6.5. Others

6.5.1.  Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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