The cath lab services market was valued for at $46.0 billion in 2022, and is projected to reach $78.2 billion by 2032, exhibiting a CAGR of 5.4% from 2022 to 2032.
A catheterization lab, also referred to as a cath lab, is an examination room in a hospital, clinic, or diagnostic facility where various sorts of tests and procedures are conducted. The diagnostic and therapeutic procedures for cardiology and brain & spine are performed in cath labs. Cardiology procedures such as pacemaker implantation, ablation, angiography, and angioplasty are performed in cath lab. While the operations are being performed, patients in a cath lab may be awake and will not be put to sleep. A cath lab is run by a team of diverse specialists under the direction of a cardiologist.
The growth of cath lab services market is driven by rise in the number of technologically advanced cath labs and Increase in prevalence of cardiovascular and brain & spine diseases. Cardiac disorders such as coronary artery disease, heart valve disease, congenital heart defects, aortic aneurysm, peripheral artery disease, atrial fibrillation, hypertrophic cardiomyopathy, pulmonary hypertension, pericardial effusion, and endomyocardial fibrosis are diagnosed or treated in cath lab. Thus, rise in population suffering from cardiac diseases is anticipated to fuel the demand for cath lab procedures. For instance, according to the British Heart Foundation, in 2022, it was reported that, around, 1,139,140 people were suffering from heart and circulatory diseases in the UK. As per the same source, in 2022, around 650,681 male and 488,320 female population are suffering from heart and circulatory diseases in the UK.
Moreover, according to American Heart Association, it was estimated that in 2020, 244.1 million people were living with ischemic heart disease (IHD). As per the same source, it was reported that it was more prevalent in males than in females, 141.0 and 103.1 million people, respectively. In addition, according to report shared by the Center for Disease Control and Prevention (CDC), in 2020, it was reported that coronary heart disease is the most common type of heart disease, killing 382,820 people in the U.S. Moreover, in 2020, about 2 in 10 deaths from coronary artery disease (CAD) happen in adults less than 65 years old. Thus, alarming rise in prevalence of cardiac diseases is expected to propel the need for diagnostic and therapeutic procedure in cath lab, thereby fueling the growth of the market.
Moreover, presence of service provider for cath lab is anticipated to boost the growth of market. For instance, Canyon vista medical center, Ochsner Rush Health, Henryford, Alberta Health Services, Adventist Health Bakersfield, alliance medical associates, Campbell Country Health, InHealth Group, Netcare hospitals, Ramsay Health Care, and USA Health are some of the key service providers.
However, high cost of diagnostic and therapeutic procedure of cath lab and risk associated with the procedures are expected to hinder the growth of cath lab services market.
On the contrary, technological advancements in cath lab and Increase in number of cath labs are anticipated to offer remunerative opportunities for the expansion of the market during the forecast period.
The global cath lab services market is segmented into service type, application, and service provider. Depending on service type, the market is bifurcated into diagnostic and therapeutic. On the basis of application, it is fragmented into cardiac and brain & spine. By service provider, it is segregated into hospital and individual cath lab. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global cath lab services market Include Canyon vista medical center, Ochsner Rush Health, Henryford, Alberta Health Services, Adventist Health Bakersfield, alliance medical associates, Campbell Country Health, inhealthgroup, Netcare hospitals, Ramsay Health Care, and USA Health.
A catheterization lab, also referred to as a cath lab, is an examination room in a hospital, clinic, or diagnostic facility where various sorts of tests and procedures are conducted. The diagnostic and therapeutic procedures for cardiology and brain & spine are performed in cath labs. Cardiology procedures such as pacemaker implantation, ablation, angiography, and angioplasty are performed in cath lab. While the operations are being performed, patients in a cath lab may be awake and will not be put to sleep. A cath lab is run by a team of diverse specialists under the direction of a cardiologist.
The growth of cath lab services market is driven by rise in the number of technologically advanced cath labs and Increase in prevalence of cardiovascular and brain & spine diseases. Cardiac disorders such as coronary artery disease, heart valve disease, congenital heart defects, aortic aneurysm, peripheral artery disease, atrial fibrillation, hypertrophic cardiomyopathy, pulmonary hypertension, pericardial effusion, and endomyocardial fibrosis are diagnosed or treated in cath lab. Thus, rise in population suffering from cardiac diseases is anticipated to fuel the demand for cath lab procedures. For instance, according to the British Heart Foundation, in 2022, it was reported that, around, 1,139,140 people were suffering from heart and circulatory diseases in the UK. As per the same source, in 2022, around 650,681 male and 488,320 female population are suffering from heart and circulatory diseases in the UK.
Moreover, according to American Heart Association, it was estimated that in 2020, 244.1 million people were living with ischemic heart disease (IHD). As per the same source, it was reported that it was more prevalent in males than in females, 141.0 and 103.1 million people, respectively. In addition, according to report shared by the Center for Disease Control and Prevention (CDC), in 2020, it was reported that coronary heart disease is the most common type of heart disease, killing 382,820 people in the U.S. Moreover, in 2020, about 2 in 10 deaths from coronary artery disease (CAD) happen in adults less than 65 years old. Thus, alarming rise in prevalence of cardiac diseases is expected to propel the need for diagnostic and therapeutic procedure in cath lab, thereby fueling the growth of the market.
Moreover, presence of service provider for cath lab is anticipated to boost the growth of market. For instance, Canyon vista medical center, Ochsner Rush Health, Henryford, Alberta Health Services, Adventist Health Bakersfield, alliance medical associates, Campbell Country Health, InHealth Group, Netcare hospitals, Ramsay Health Care, and USA Health are some of the key service providers.
However, high cost of diagnostic and therapeutic procedure of cath lab and risk associated with the procedures are expected to hinder the growth of cath lab services market.
On the contrary, technological advancements in cath lab and Increase in number of cath labs are anticipated to offer remunerative opportunities for the expansion of the market during the forecast period.
The global cath lab services market is segmented into service type, application, and service provider. Depending on service type, the market is bifurcated into diagnostic and therapeutic. On the basis of application, it is fragmented into cardiac and brain & spine. By service provider, it is segregated into hospital and individual cath lab. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global cath lab services market Include Canyon vista medical center, Ochsner Rush Health, Henryford, Alberta Health Services, Adventist Health Bakersfield, alliance medical associates, Campbell Country Health, inhealthgroup, Netcare hospitals, Ramsay Health Care, and USA Health.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cath lab services market analysis from 2022 to 2032 to identify the prevailing cath lab services 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 cath lab services 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 cath lab services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service Type
- Diagnostic
- Therapeutic
By Application
- Cardiac
- Brain and Spine
By Service provider
- Hospitals
- Individual Cath Lab
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Adventist Health Bakersfield
- Alberta Health Services
- Alliance Medical Associates
- Campbell Country Health
- Canyon vista medical center
- Henryford health
- Inhealthgroup
- Netcare Hospitals
- Ochsner Rush Health
- Ramsayhealth
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CATH LAB SERVICES MARKET, BY SERVICE TYPE
CHAPTER 5: CATH LAB SERVICES MARKET, BY APPLICATION
CHAPTER 6: CATH LAB SERVICES MARKET, BY SERVICE PROVIDER
CHAPTER 7: CATH LAB SERVICES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Cath Lab Services Market,' The cath lab services market was valued $46.0 billion in 2022, and is projected to reach $78.2 billion by 2032 by 2032, growing at a CAGR of 5.4% from 2022 to 2032.A catheterization laboratory, also known as cath lab, is an examination room in a hospital or clinic with diagnostic imaging equipment, which is used to visualize the arteries and chamber of the heart. Moreover, diagnostic procedures such as cardiac and peripheral (leg) angiograms, coronary CT angiography, nuclear cardiac imaging, and therapeutic procedures such as cardiac catheterization, stent insertions, and angioplasty are performed in cath lab.
Key factors driving the growth of the cath lab services market include increase in prevalence brain and spine diseases, surge in the number of geriatric populations and rise in prevalence of cardiac disease. Technological advancements in cath lab and high presence of cath labs are expected to boost the growth of the market during the forecast period. For instance, in June 2022, Atrium Medical Center, hospital and healthcare service provider, enhanced its cardiac catheterization services by adding the new Siemens Artis Q angiography system to its interventional imaging services. This high-end technology features a revolutionary X-ray tube for high-contrast resolution at any angle and for any patient size, while the optimized X-ray pulse helps to reduce radiation exposure significantly.
Moreover, increase in number of advanced cath labs is anticipated to fuel the growth of the market. For instance, in October 2022, the Union Minister for Health and Family Welfare India, inaugurated Advanced Cardiac Catheterization Laboratory at DY Patil medical college, hospital and research center in Navi Mumbai in India. The new cath lab, equipped with virtual simulation capabilities for precision healthcare, is unparalleled in providing innovative care and is designed for adult and pediatric patients. The facility will be useful for coronary interventions such as coronary angiography & angioplasty, neurology interventions, including carotid angiography & angioplasty, electrophysiology studies, and transcutaneous aortic valve replacements (TAVR).
Rise in number of cath lab drives the market growth. Moreover, in June 2022, HCA Florida North Florida Hospital ((NFH), a part of HCA Florida Healthcare, announced that its cardiovascular cath program has opened its 5th hybrid cath lab to support the growth of its endovascular services. NFH’s 5th Cath Lab includes an advanced imaging system. This cath labs service is used to maximized both cardiac diagnostic and interventional procedures with a fully motorized tilting table, high definition 3-dimensional image reconstruction, endovascular aneurysm repair (EVAR) planning software, quantitative vessel analysis software, radiation dose optimization software, and a large display monitor.
The global cath lab market is segmented into service type, application, and service provider. Depending on service type, the market is segmented into diagnostic and therapeutic. Depending on application, it is bifurcated into cardiac and brain & spine. On the basis of service provider, it is segregated into hospital and individual cath lab. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the study include Canyon vista medical center, Ochsner Rush Health, Henryford, Alberta Health Services, Adventist Health Bakersfield, alliance medical associates, Campbell Country Health, InHealth Group, Netcare Hospitals, Ramsay Health Care, and USA Health. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market. For instance, in April 2023, St George Private Hospital in Ramsayhealth organization has unveiled new technology in its cardiac catheterization lab, designed to provide a clearer picture for doctors and lessen the amount of radiation present. The new Cannon Alihenix will be used for interventional angiography procedures which involve x-ray technology being used to assist a specialist guiding a catheter through a patient's major arteries.
Key Market Insights
- By service type, therapeutic segment was the highest revenue contributor to the market and is estimated to reach $57,792.29 million by 2031, with a CAGR of 5.3%.
- By application, the cardiac segment dominated the global market. However, the same segment is expected to be the fastest-growing segment with a CAGR of 5.4% during the forecast period.
- By service provider, the hospitals segment dominated the global market. However, the same segment is expected to be the fastest-growing segment with a CAGR of 5.6% during the forecast period.
- Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 6.2% during the forecast period
Companies Mentioned
- Adventist Health Bakersfield
- Alberta Health Services
- Alliance Medical Associates
- Campbell Country Health
- Canyon vista medical center
- Henryford health
- Inhealthgroup
- Netcare Hospitals
- Ochsner Rush Health
- Ramsayhealth
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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