Global Cardiac Catheters Market - 2022-2029

Global Cardiac Catheters Market - 2022-2029

Market Overview

Cardiac Catheters Market size was valued US$ 12.95 billion in 2021 and is estimated to reach US$ 702.8 million by 2029, growing at a CAGR of 7.48% during the forecast period (2022-2029).

Cardiac catheters are instruments used for heart valve analysis or for directing and visualizing the coronary arteries. The product is a thin, flexible tube that is used to guide equipment through the body's blood vessels during cardiovascular treatments like angioplasty and stenting. Since they offer a less invasive interventional method than open surgery, cardiac catheters are in high demand.

Market Dynamics

The global cardiac catheters market is growing due to an increase in the prevalence of heart ailments, cardiovascular issues brought on by altered lifestyle patterns, poor dietary practices, and excessive alcohol and tobacco use, the market for cardiac catheters is growing at a rapid rate. This has further resulted in artery obstruction and stroke, both of which necessitate surgery.

Rising prevalence of cardiovascular diseases drives the growth of the market

For the treatment of peripheral vascular disorders, angioplasty is advised. During this operation, the afflicted artery is examined using a cardiac catheter, which reopens the artery and flattens the blockage in the artery wall. In contrast to cancer and other chronic diseases, the American Heart Association research estimates that 92.1 million Americans were living with some type of CVD in 2020 and that CVD is the leading cause of death in the nation.

One of the main issues in developing nations worldwide is the growing senior population. Additionally, an expected period of time would see a growth in the prevalence of chronic diseases in geriatric individuals, including aortic disease, venous thromboembolism, peripheral arterial disease, etc. In 2020, more than 19.1% of the world's population of seniors aged 55 to 65 had peripheral vascular disease, with about 27% of men and more than 21% of women affected, according to a report from the Centers for Disease Control and Prevention. The largest concentration of senior citizens is in Asia and the Pacific, and their numbers are growing at an unprecedented rate.

The high cost of surgical procedures and catheters is expected to hamper the market growth

The expensive cost of sophisticated catheters could limit industry expansion. A growing proportion of patients undergoing catheterization operations need innovative catheters because they have chronic and cardiovascular disorders like urine bladder, renal failure, and coronary heart disease. However, the adoption rate of catheters may decline throughout low-income countries as a result of the expensive catheterization operations for these disorders.

The expensive price of these gadgets and necessary accessories could limit market expansion. Market growth in underdeveloped nations with relatively low income levels may be constrained because to the high costs involved with catheterization procedures. As a result, it might be challenging for middle-income and low-income countries to adopt such expensive goods. Therefore, the high price of these advanced devices could restrain the expansion of the catheters market over the estimated year.

COVID-19 Impact Analysis

Due to on-hold services, such as treatment, diagnostic, and surgical services, to stop the spread of COVID-19 disease, it is projected that the COVID-19 epidemic will have a short-term negative impact on the growth of the global catheters industry. Jordan implemented a severe COVID-19-related lockout, according to the National Library of Medicine. Cardiovascular catheterization procedure volumes drastically decreased during the rigorous lockdown and gradually increased following a partial relaxation of the lockdown. However, as the government and healthcare organisations continue to enhance medical care for COVID-19 patients, catheters will be utilised more frequently in hospitals. Catheters are being used to treat the patients whose COVID-19 diagnoses were verified.

Global Cardiac Catheters Market - Industry Analysis

The global cardiac catheters market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, supply chain analysis and pricing analysis, reimbursement policies, technological advancements, PEST analysis.

Segment Analysis

The PTA balloon catheter segment is expected to hold the largest market share in global cardiac catheters market

Percutaneous transluminal angioplasty is referred to as PTA. The PTA balloon catheter, used in a minimally invasive catheterization treatment, includes an inflatable ""balloon"" at its tip. The narrowed vascular entrance is widened with this method. The deflated balloon is placed in the constricted area, briefly inflated, and then deflated once more for removal. The anatomy that PTA balloons are designed to treat determines the many sizes, lengths, and shapes that are available. Peripheral vascular lesions can be treated with PTA balloon catheters in two different ways. One method is to widen the lumen of a blood artery that is blocked. This procedure is known as ""plain-old balloon angioplasty"" (POBA). The second application is for treating vascular blockages by expanding stents.

Additionally, it is anticipated that rising PTA balloon catheter production and rising FDA product approvals will fuel the expansion of the global market. For instance, the U.S. FDA approved the PACT Admiral Paclitaxel coated Percutaneous Transluminal Angioplasty (PTA) Balloon Catheter manufactured by Medtronic Inc. in April 2018.

Geographical Analysis

North America region holds the largest market share in the global cardiac catheters market

North America was held a dominant position in the global cardiac catheters market in 2021. This large revenue share is mainly due to the rising prevalence of urological illnesses, renal failure, and the abundance of highly qualified surgeons, among other things. For instance, every seventh adult in the United States, or more than 37 million people, is projected to have chronic kidney disease, according to estimates from the Centers for Disease Control and Prevention (CDC). It is anticipated that the rising prevalence of diseases would increase the demand for catheterization operations, which employ these devices. The American Urological Association (AUANET) estimates that there will be 13,352 urologists working full-time in the United States in 2020. Additionally, it is anticipated that rising cardiac catheterization hospitalizations will promote market expansion in the nation. For instance, the NCBI estimates that more than 1,000,000 cardiac catheterization operations are carried out each year in the United States. Major players' presence in the area will also increase consumer demand and adoption rates for the products. Therefore, it is anticipated that the aforementioned causes will increase demand for catheterization procedures.

Competitive Landscape

The cardiac catheters market is highly competitive, owing to big market players in the industry. The key cardiac catheters players which are contributing to the growth of the global market include Becton Dickinson and Company, Boston Scientific Corporation, Bard Medical, B. Braun Melsungen AG, Teleflex Incorporated, Johnson & Johnson, Medtronic Plc, Edwards Lifesciences Corp, Vascular Solutions, Inc, Abbott Laboratories. The major players are adopting new product development and expansion strategies for global growth in the cardiac catheters market. For instance, Johnson & Johnson Medical Devices announced on August 13, 2020, that the QDot Micro radiofrequency ablation catheter from Biosense Webster has been granted European CE mark approval.

Global Cardiac catheters Market – Key Companies to Watch

Medtronic Plc:

Overview: Medtronic plc is an American company that operates in U.S. and manufactures and markets medical device headquarters in Minneapolis, US. It is operational in around 140 countries and 90,000 people are employed there.

Product Portfolio: Export Advance aspiration catheter delivers consistent, high-performing aspiration power when it matters most restoring flow and protecting patients.

The global cardiac catheters market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.