The Global Catheters Market size is expected to reach $38.3 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
Global Catheters Market Size, Share & Industry Trends Analysis Report By Product Type (Cardiovascular, Urological, Neurovascular, Intravenous, and Specialty), By End User, By Regional Outlook and Forecast, 2022 ? 2028
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Catheters are required for patients who are receiving general medicine. Catheter-associated urinary tract infections (CAUTIs) and central line-associated blood infections can occur when catheters are used often (CLABSIs). Patients with chronic illnesses frequently have a weakened immune system and need to be admitted to hospitals regularly. Due to the frequent usage of the catheter to reach the blood vessels, the patients are at significant risk of infection. As a result, antimicrobial catheters were introduced to prevent catheter-associated infection and the rising number of cases of thrombosis. Medtronic’s antimicrobial catheters with silver ion and Palindrome HSI-heparin coating are two famous examples.
A catheter is a narrow tube composed of medical-grade materials that serve a variety of roles in medicine. Catheters are medical equipment that is put into the body to treat the disease or to perform surgery. Catheters can be tailored for cardiovascular, urological, gastrointestinal, neurovascular, and ophthalmic uses by changing the material or changing the manner they’re made. Catheterization is the process of placing a catheter.
The rise in the prevalence of cardiovascular disorders, as well as the desire for minimally invasive surgeries, is driving the catheter market forward. Furthermore, a large increase in the frequency of chronic diseases connected with the urinary bladder, kidney failures, and other reasons are driving the growth of the catheter market during the forecast period. Furthermore, an increase in patient desire for minimally invasive surgeries propels the catheter market forward.
In addition, the market is expected to develop due to the increase in incontinence issues as the world’s geriatric population grows, as well as an increase in demand for sterilized and disposable catheters. Furthermore, the development of new catheters by a wide number of important manufacturers contributes to the market’s expansion.
However, the expansion of the catheters market is fueled by an increase in the geriatric population and an increase in the number of people who suffer from bladder cancer. Moreover, due to recent technological advancements, the need for catheters is likely to rise as the desire for minimally invasive operations grows. For example, due to its least invasive nature, angioplasty is becoming more popular than traditional surgeries, which contributes to market growth.
Catheters are being used to treat people who have been diagnosed with COVID-19. Bactiguard, for example, introduced the BIP Foley TempSensor, a novel urinary catheter for continuous temperature monitoring, in April 2020. In June, the business announced that it has developed a urinary catheter with embedded monitoring of temperature and infection management. As a result, technological advances will aid to propel the catheters market forward over the forecast period. However, as the number of entries into the domestic market grows, the performance of catheter devices suffers as these manufacturers use low-cost, poor raw materials to produce low-cost products, limiting market expansion.
Technological breakthroughs in double-lumen catheters.
The catheter market is divided into single-lumen, double-lumen, triple-lumen, and other segments based on the lumen. In intravenous surgery, double-lumen catheters are commonly utilized for a variety of medical applications. These double lumen catheters are often composed of polyethylene or polyurethane, and they are simple to use and can be placed directly during procedures to provide independent venous access. Double-lumen catheters allow for the simultaneous injection of two unsuitable fluids or medicines. It has several advantages, including the best balance of mobility and endurance.
Prostate cancer is becoming more common.
Cancer is the leading cause of death, with an estimated 10 million deaths predicted by 2020. Prostate cancer is the second most frequent malignancy in men and the fifth leading cause of death globally (1.41 million cases). Prostate cancer in its early stages is often asymptomatic and has a slow progression, requiring just attentive observation. Diagnostic testing is used differently around the world, resulting in differences in occurrence rates. Prostate cancer incidence and fatality rates are strongly connected to age, with the highest incidence recorded in older men. African-American men have the highest prevalence rate and a more aggressive form of prostate cancer than White men.
Increased chances of Infection in the urinary tract
The most common consequence in people undergoing IC is urinary tract infection. In published research, however, the frequency of UTIs related to IC varies greatly. This could be determined by the evaluation methods utilized, such as different IC procedures, different urine measurement frequencies, different UTI criteria, the patient population studied, and so on. In 302 patients treated with Clean IC, Becka and Volset3 looked at characteristics that could predict the development of bacteriuria and clinical UTI (CIC). In women, low age and high mean catheterization volume were predictive variables of clinical UTI; in men, low age, neurogenic bladder dysfunction, and non-self-catheterization, as well as urine leakage in patients with neurogenic dysfunction, were predictive factors of clinical UTI.
Based on Product Type, the market is segmented into Cardiovascular, Urological, Neurovascular, Intravenous, and Specialty. The urological segment witnesses a significant revenue share in the catheters market in 2021. To empty the bladder and collect urine in a drainage bag, a urinary catheter is inserted into the bladder by a doctor or nurse. If a patient has difficulty peeing (urinating) naturally, urinary catheters are frequently used. They can be inserted through a small incision in stomach or via the tube that removes urine from the bladder.
Based on End User, the market is segmented into Hospitals, Long-term Care Facilities, Diagnostic Imaging Centers, and Others. The Hospital segment procured the largest revenue share in the catheters market in 2021. It is due to the increasing number of the hospital has surge the growth of the catheters. The growing hospital makes its more accessible for humans for the treatment and the operation procedure. People mostly depend on the hospital for the treatment which also tends in the adoption of the catheters while surgery in the hospitals.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific region registered a promising revenue share in the catheters market in 2021. It is attributable to a variety of causes like increased discretionary income, rising healthcare spending, and the presence of vast unexplored markets in emerging economies like India and China. Furthermore, a huge patient pool with kidney and cardiovascular issues, as well as improved medical facilities, are likely to drive significant market expansion in the region.
The major strategies followed by the market participants are Product Launches and Approvals. Based on the Analysis presented in the Cardinal matrix; Johnson & Johnson is the forerunners in the Catheters Market. Companies such as Abbott Laboratories, Medtronic PLC and Becton, Dickinson and Company are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Medtronic PLC, Johnson & Johnson, Becton, Dickinson and Company, Abbott Laboratories, B. Braun Melsungen AG, Stryker Corporation, Teleflex, Inc., Terumo Corporation, and Cook Medical, Inc.
Recent Strategies deployed in Catheters Market
Mar-2021: B. Braun Interventional Systems joined hands with Infraredx, designs, develops, manufactures, and distributes medical devices. Together the companies aimed to boost the FDA investigational device exemption clinical test for the SeQuent Please ReX drug-coated PTCA balloon catheter. Additionally, The SeQuent Please ReX drug-coated PTCA balloon catheter is developed to cure coronary in-stent restenosis, or the incremental re-narrowing of a coronary artery following stent transplantation.
May-2020: Cook Medical signed an agreement with Surmodics, the global leader in surface modification technologies for intravascular medical devices. Under this agreement, Cook Medical would disperse two new Surmodics products, hydrophilic percutaneous transluminal angioplasty balloon catheters. Additionally, this agreement would deliver doctors with even better opportunities to cure patients suffering from peripheral artery disease.
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Product Launches and Product Expansions:
Nov-2021: Medtronic plc, subsidiary of Medtronic Private limited unveiled Arctic Front, Cardiac Cryoablation Catheter System. The Arctic Front is the foremost and only cryoballoon catheter cleared by CDSCO for the therapy of atrial fibrillation in India.
Jul-2021: Medtronic plc unveiled the Prevail drug-coated balloon Catheter in Europe. The Prevail drug-coated balloon is leveraged during the percutaneous coronary intervention process to treat confined or obstructed coronary arteries in patients with coronary artery disorder.
Jun-2020: Boston Scientific introduced DIRECTSENSE? Technology, a tool for observing the outcome of radiofrequency energy provided during cardiac ablation process. The new DIRECTSENSE available on RHYTHMIA HDx Mapping System is the only tool to observe changes in local impedance electrical opposition across the pinpoint of the INTELLANAV MiFi Open-Irrigated ablation catheter, presenting doctors an extra dimensions of treatment consequence during an ablation.
Jun-2020: Cook Medical launched Advance Serenity hydrophilic percutaneous transluminal angioplasty balloon catheter in the United States. The device is developed for the treatment of peripheral artery disease, adding below-the-knee disease. The new suite delivers a 0.014- and 0.018-inch diameter wire guide medium and would be public in a various lengths and diameters. Additionally, the Advance Serenity is produced by Surmodics and circulated by Cook Medical.
Feb-2022: Boston Scientific Corporation completed the acquisition of Baylis Medical Company, a company that delivers advanced transseptal access solutions as well as guidewires. This acquisition would allow Boston Scientific to combine the Baylis platforms within its current electrophysiology and structural heart portfolio, further bolstering its standing within the highest growth cardiology industry.
Jan-2022: Medtronic signed an agreement to acquire Affera, a medical technology company dedicated to delivering innovative solutions to address the rapidly growing cardiac arrhythmia market. This acquisition aimed to develop Medtronic’s suite of advanced cardiac ablation products and supplements to complete physician requirements within a increasing patient population. Additionally, Affera’s technologies offer the Affera Prism-1 cardiac mapping and navigation medium and Sphere-9 cardiac ablation catheter, investigational technologies developed to permit the quick outcome of complex maps used by electrophysiologists to analyze arrhythmias and provide cardiac ablation treatment.
Dec-2021: Becton, Dickinson and Company completed the acquisition of Venclose, a provider of solutions for the treatment of chronic venous insufficiency. Through this acquisition, Venclose would allow BD to provide a more powerful offering of solutions to doctors treating the entire range of venous diseases. Additionally, The Venclose RF Ablation System strategically completes BD category-leading offering of arterial disease technologies and aligns with priority on innovations that supply transformative solutions to enhance results for regular illness and allow the change into unique care settings.
Feb-2022: Medtronic plc received a U.S. Food and Drug Administration approval for Freezor and Freezor Xtra Catheters for the treatment of pediatric Atrioventricular Nodal Reentrant Tachycardia. Catheter ablation is resilient, one-use equipment used to freeze cardiac tissue and block unnecessary electrical signals within the heart. Additionally, Freezor and Freezor Xtra are the first-line antidote for the treatment of AVNRT.
Feb-2022: Teleflex Incorporated received a U.S. Food and Drug Administration approval for Teleflex GuideLiner V3 Catheter, Turnpike Catheters, Raider Guidewire, R350 Guidewire, Bandit Guidewire, TrapLiner Catheter, Warrior Guidewire, and Spectre Guidewire. The specialty catheters were considered as part of the CTO-PCI examination, a peer-reviewed, prospective, single-arm IDE study that registered 150 patients across 13 investigational camps across the United States.
Apr-2021: Becton, Dickinson, and Company received a U.S. Food and Drug Administration approval for Pristine, a long-term Hemodialysis Catheter. The Pristine with a special side-hole free symmetric Y-Tip distal lumen structure. Additionally, the Pristine Catheter would roll out in the U.S. in May 2021.
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Market Segments covered in the Report:
Cardiovascular Urological Neurovascular Intravenous Specialty By End User Hospitals Long-term Care Facilities Diagnostic Imaging Centers Others By Geography North America US Canada Mexico Rest of North America Europe Germany UK France Russia Spain Italy Rest of Europe Asia Pacific China Japan India South Korea Singapore Malaysia Rest of Asia Pacific LAMEA Brazil Argentina UAE Saudi Arabia South Africa Nigeria Rest of LAMEA Companies Profiled Boston Scientific Corporation Medtronic PLC Johnson & Johnson Becton, Dickinson and Company Abbott Laboratories B. Braun Melsungen AG Stryker Corporation Teleflex, Inc. Terumo Corporation Cook Medical, Inc.
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