Catheters are thin tubes made up of medical grade material such as plastic, silicon rubber, PVC, and nylon inserted in the patient’s body for therapeutic and diagnostic purposes. Catheterization is a primary co-procedure along with varied other medical procedures, such as angioplasty, cardiac electrophysiology, and neurosurgery. Catheters are important components in several surgical procedures.
High prevalence of cardiovascular diseases coupled with the development of unique-feature enhanced cardiovascular catheters is the core factor that drives the growth of the catheters market. Increase in prevalence of urological diseases, including urinary bladder cancer and kidney failure has significantly uplifted the demand for urological catheters. In addition, novel products, including external male catheters have proved to be a lucrative addition to the overall catheters and variants’ product lines for the catheters manufacturing companies. Increase in patient pool for ischemic and hemorrhagic stroke thereby increased the demand for minimally invasive neurovascular surgeries, thus making way for opportunities for the neurovascular catheters-micro catheters and guiding catheters. Increase in cardiovascular diseases and growth in demand for minimal invasive surgeries drive the growth of global catheters market. In addition, rise in incidence of diabetes, cardiovascular diseases, urinary bladder, and kidney failures fuel the market growth. However, inadequate quality assurance and price competition at domestic levels are expected to hamper the market growth. In addition, the key players such as Boston Scientific Corporation, Medtronic Plc. and Teleflex Incorporated provide catheter products contributing toward the market growth. In addition, rise in demand for catheters for the drug administration act a key driving factor for expansion of the global market.
The global catheters market is segmented on the basis of type and region. Depending on the type, the market is segmented into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters and specialty catheters.
Cardiovascular catheter segment is classified into electrophysiology catheters, percutaneous transluminal coronary angioplasty(PTCA) balloon catheters, intravascular ultrasound(IVUS catheters), percutaneous transluminal angioplasty(PTA) catheters, and others including guiding catheter, angiography catheter, and pulmonary artery catheters. In addition, urological catheter segment is again fragmented into dialysis catheter and urinary catheter. Dialysis catheter segment is segregated into hemodialysis catheter and peritoneal catheter. Urinary catheter segment is segmented into and foley catheter, intermittent catheter, and external catheters. Furthermore, intravenous catheter segment is categorized into central intravenous catheter and peripheral intravenous catheters. Peripheral intravenous catheter segment is divided into integrated catheters and short catheters. Moreover, specialty catheter segment in classified into wound/surgical drain, oximetry, thermodilution, and IUI catheter. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the catheters market include Abbott Laboratories, Becton Dickinson And Company, Boston Scientific Corporation, B. Braun Melsungen AG, Teleflex Incorporated, Johnson & Johnson, Medtronic, Inc., Edwards Lifesciences Corporation, Cook Medical, and Stryker Corporation.
High prevalence of cardiovascular diseases coupled with the development of unique-feature enhanced cardiovascular catheters is the core factor that drives the growth of the catheters market. Increase in prevalence of urological diseases, including urinary bladder cancer and kidney failure has significantly uplifted the demand for urological catheters. In addition, novel products, including external male catheters have proved to be a lucrative addition to the overall catheters and variants’ product lines for the catheters manufacturing companies. Increase in patient pool for ischemic and hemorrhagic stroke thereby increased the demand for minimally invasive neurovascular surgeries, thus making way for opportunities for the neurovascular catheters-micro catheters and guiding catheters. Increase in cardiovascular diseases and growth in demand for minimal invasive surgeries drive the growth of global catheters market. In addition, rise in incidence of diabetes, cardiovascular diseases, urinary bladder, and kidney failures fuel the market growth. However, inadequate quality assurance and price competition at domestic levels are expected to hamper the market growth. In addition, the key players such as Boston Scientific Corporation, Medtronic Plc. and Teleflex Incorporated provide catheter products contributing toward the market growth. In addition, rise in demand for catheters for the drug administration act a key driving factor for expansion of the global market.
The global catheters market is segmented on the basis of type and region. Depending on the type, the market is segmented into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters and specialty catheters.
Cardiovascular catheter segment is classified into electrophysiology catheters, percutaneous transluminal coronary angioplasty(PTCA) balloon catheters, intravascular ultrasound(IVUS catheters), percutaneous transluminal angioplasty(PTA) catheters, and others including guiding catheter, angiography catheter, and pulmonary artery catheters. In addition, urological catheter segment is again fragmented into dialysis catheter and urinary catheter. Dialysis catheter segment is segregated into hemodialysis catheter and peritoneal catheter. Urinary catheter segment is segmented into and foley catheter, intermittent catheter, and external catheters. Furthermore, intravenous catheter segment is categorized into central intravenous catheter and peripheral intravenous catheters. Peripheral intravenous catheter segment is divided into integrated catheters and short catheters. Moreover, specialty catheter segment in classified into wound/surgical drain, oximetry, thermodilution, and IUI catheter. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the catheters market include Abbott Laboratories, Becton Dickinson And Company, Boston Scientific Corporation, B. Braun Melsungen AG, Teleflex Incorporated, Johnson & Johnson, Medtronic, Inc., Edwards Lifesciences Corporation, Cook Medical, and Stryker Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the catheters market analysis from 2021 to 2031 to identify the prevailing catheters market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the catheters market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global catheters market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Cardiovascular Catheters
- Neurovascular Catheters
- Urological Catheters
- Intravenous Catheters
- Specialty Catheters
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Abbott Laboratories
- B. Braun Melsungen AG
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Johnson and Johnson
- Medtronic Plc
- Edwards Lifesciences Corporation
- Teleflex Incorporated
- Cook Medical Inc.
- Stryker Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CATHETERS MARKET, BY PRODUCT TYPE
CHAPTER 5: CATHETERS MARKET, BY REGION
CHAPTER 6: COMPANY LANDSCAPE
CHAPTER 7: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Catheters Market,' the catheters market was valued at $22.7 billion in 2021, and is estimated to reach $49.5 billion by 2031, growing at a CAGR of 8.1% from 2022 to 2031.Catheter is a thin tube which is made from medical grade materials. They are medical devices that can be inserted in the body to treat diseases or perform a surgical procedure. The scope catheters has widened, as it is used to treat various neurological, cardiovascular, and urological disorders with the help of improved clinical practices and advanced technologies. Diagnosis, prevention, and treatment are the prime focus of healthcare departments across all the regions. Catheterization is a basic co-procedure along with various medical procedures that includes cardiac electrophysiology, neurosurgery, angioplasty, urological disorders, and specialty catheters; catheters being a key component in the above procedures. Hence, using ancillary medical devices such as catheters are used to treat diseases making it a lucrative market across the globe.
Rise in case of cardiovascular & urological diseases and diabetes and growth in demand for minimally invasive procedures are some catheters market trends which boost the growth of the catheters market. Furthermore, technologically advanced catheters are manufactured with infection resistant coating to minimize catheter-associated infections. Thus, these are preferred by customers (healthcare professionals), which leads to the growth of the catheter market. Reimbursement plays a vital role to raise the utilization rate of catheters. Increase in reimbursement levels from 4 to 200 catheters per patient per month by Medicare and Medicaid systems in the U.S. particularly for the intermittent catheters (a type of urological catheters) contributes to the increase in the utilization rates of such catheters in all healthcare set-ups. However, price competition in domestic/local markets and inadequate quality assurance hamper the growth of the catheters market.
In addition, the prevalence of cardiovascular diseases in China has been increasing continuously. As per the report published in the Journal of Geriatric Cardiology by Li-Yuan Ma, in China, in 2020, over 290 million individuals suffered from cardiovascular diseases and nearly 2 out of every 5 fatalities occurred as a result of cardiovascular diseases(CVD). Therefore, rise in number of cardiovascular diseases results in increase in number of surgeries. This has led to increase in usage of catheters for the diagnosis that boosts the growth of the market.
Moreover, development of pharmaceutical & medical device industries and improvement in healthcare spending are some factors for catheters market growth. In addition, increase in demand for performing surgeries led to development of innovative instruments in the healthcare sector, thereby propelling the growth of the market.
Depending on product, the market is segmented into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters, and specialty catheters. Cardiovascular catheter segment is classified into its subtypes such as electrophysiology catheters, percutaneous transluminal coronary angioplasty (PTCA) balloon catheters, intravascular ultrasound (IVUS catheters), percutaneous transluminal angioplasty (PTA) catheters, and others include guiding catheter, angiography catheter, and pulmonary artery catheters. According to urological catheter segment the market is fragmented into dialysis catheter and urinary catheter. As per intravenous catheter segment it is categorized into central intravenous catheter and peripheral intravenous catheters. Furthermore, specialty catheter segment is classified wound/surgical drain, oximetry, thermodilution, and intrauterine insemination(IUI) catheters.
The cardiovascular catheters segment market holds the highest share in overall catheters market. Owing to the facts stated as the rise in cardiovascular diseases that necessitate the use of catheters in diagnostic as well as surgical cardiac procedures, renders highest growth of this segment.
Urological catheters depict high market attractiveness in catheters industry, owing to low prices, favorable reimbursement rates, and high volumes resulting from high utilization rates due to rise in incidences of urinary tract infections (UTI) and increase in proportion of geriatric population (that typically display high incidence of urological diseases). Similar to the cardiovascular catheters, high growth of the urological catheters market is also been observed by the development of technologically advanced catheters and increase in reimbursement rates for intermittent catheters. Technologically advanced catheters are manufactured with 'infection resistant coating” technology. For instance, Bard Medical has developed anti-infective latex Foley catheters, The BARDEX I.C., which minimizes the urinary tract infection (UTI) to a large extent-therefore are increasingly preferred by customers (healthcare professionals).
By region, North America and Asia-Pacific are the most lucrative market segments. The growth of these markets is mainly due to rise in geriatric population and increase in incidence & prevalence of cardiovascular & urological diseases.
In North America, the U.S. has garnered a dominant Catheters Market share, due to the technological advancements, stringent government regulations, rise in incidences of healthcare associated infections (HAI), and increase in awareness among the patients and the caregivers of the markets. Asia-Pacific catheters market ranks second to the North American catheters market. In Asia-Pacific, key countries include India, Japan, China, and Australia. Of the stated, China and India collectively constitute large patient-bases of cardiovascular, urological, and other diseases, which boost the growth of the market.
In addition, increase in healthcare expenditure, improvement in healthcare infrastructure, and growth in medical tourism fuel the growth of the catheters market size.
Some of the leading companies profiled in this report include, Abbott Laboratories, Becton Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen AG, Johnson & Johnson, Medtronic Inc., Edward Life Sciences, Cook Medical, Teleflex Incorporated and Stryker Corporation.
KEY FINDINGS OF THE STUDY
- By type, the cardiovascular catheters segment was the highest contributor to the market in 2021.
- North America accounted for a majority of the catheter market share in 2021, and is anticipated to remain dominant during the forecast period.
Companies Mentioned
- Abbott Laboratories
- B. Braun Melsungen AG
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Johnson and Johnson
- Medtronic Plc
- Edwards Lifesciences Corporation
- Teleflex Incorporated
- Cook Medical Inc.
- Stryker Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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