Global Diagnostic Catheter Market

By end of 2021, the global diagnostic catheter market is estimated to be worth ~USD 50 billion and is expected to expand at a compound annual growth rate (CAGR) of ~8% from 2022 to 2030. The growth of the market. In addition, medium-sized catheter manufacturers are increasingly inclined to gain a larger market share, and various government agencies have increased funding for research and development activities, which are expected to promote market growth during the forecast period. In the past 30 years, chronic diseases such as cardiovascular, neurological and urinary systems have become the main causes of death and morbidity worldwide. A sedentary lifestyle makes people vulnerable to many diseases, including diabetes, cardiovascular disease, urinary system disease, end-stage renal disease and other chronic diseases. Hypertension and diabetes are the two main factors contributing to the increase in cases of chronic diseases (such as kidney failure). Due to the frequent use of catheters in various operations, these diseases are associated with high hospitalization rates and high costs. Therefore, due to the increase in the number of chronic diseases, the increase in the number of operations is expected to increase the adoption rate of catheters, thereby promoting the early stage market. Patients receiving general medications need catheters.

Repeated use of catheters can lead to catheter-associated urinary tract infection (CAUTI) and central venous catheter-associated bloodstream infection (CLABSI). Patients with chronic diseases usually have weaker immune systems and require frequent hospitalizations in medical centers. Due to frequent use of catheters to enter blood vessels, patients are at high risk of infection. Therefore, the company introduced antibacterial catheters to reduce the increase in catheter-related infections and thrombosis. Medtronics silver ion and palindromic HSI heparin-coated antibacterial catheters are some notable antibacterial catheters. In addition, this type of catheter helps reduce the possibility of clot formation and microbial colonization on the surface of the catheter. In addition, use silver ion coating or antibiotics at the exit site of the catheter, or by blocking the tip with an antibacterial solution. Therefore, catheters coated with antibacterial coatings may drive market growth.

In addition, due to recent technological innovations, the demand for minimally invasive surgery continues to increase, which is expected to increase catheter sales on the market. Antibacterial coatings and microcatheters are used to prevent restenosis, and can treat the recurrence of later vascular stenosis. Peripheral diseases are also associated with other chronic diseases, such as diabetes. Due to the use of advanced technologies and innovative coated catheters available on the market, these procedures have a higher rate of adoption and are becoming standard techniques in general surgery. For example, due to the minimally invasive nature and better results of angioplasty, the demand for traditional surgery continues to increase, prompting patients to choose minimally invasive surgery.

This is expected to support market growth. However, the sudden outbreak of COVID-19 has had a negative impact on the market. For example, according to an article published by the National Center for Biotechnology Information (NCBI), during the COVID-19 admission in the UK, the number of coronary catheterizations in tertiary hospitals decreased by 47% in 2020.

Countries The United States and Canada have a high prevalence of chronic diseases due to their sedentary lifestyles. In addition, the number of patients undergoing surgery continues to increase, and consumers; awareness of minimally invasive surgery continues to increase, which has also promoted the growth of these countries; markets. According to the Centers for Disease Control and Prevention, heart disease accounts for a quarter of all deaths in the United States. Some of the main causes of heart disease are obesity, poor diet, lack of exercise, excessive alcohol consumption, high blood pressure, high cholesterol levels and smoking.

Approximately 50% of Americans have at least one of these risk factors. Similarly, according to IHME data released in 2017, ischemic heart disease is the leading cause of death and disability in Canada. As a result, awareness of peripheral artery disease, vascular occlusion, and minimally invasive surgery is increasing, and these countries are expanding the use of catheters; in addition, due to the increasing incidence of urinary system diseases (such as chronic kidney disease), there is an increasing need for public prevention Measures of education, this is the third leading cause of hospitalization. For example, the feature of Wagner;s chronic disease care model is to allow informed patients to interact productively, leading to better results and providing a theoretical framework for how to develop awareness of chronic kidney disease. Therefore, these awareness models increase the communication between the patient and the provider as well as personal awareness. This will ultimately drive market growth during the forecast period.

PRODUCT TYPE INFORMATION:

Due to the increasing prevalence of cardiovascular diseases, the cardiovascular catheter market segment will dominate the market with a 28.03% share in 2020, which in turn has increased the demand for interventional cardiac surgery. With the increasing popularity of cardiac catheters, this is expected to drive the growth of this market segment. The market segment is further subdivided into four categories. Among them, the percutaneous transluminal coronary angioplasty (PTCA) balloon catheter segment has become the main market segment, with a participation rate of over 30.00% in 2020.

Due to its growing preference among doctors, the professional catheter segment is expected to reach the highest compound annual growth rate of 6.8% from 2021 to 2028. This is due to the increasing demand for minimally invasive surgery and the increase in the prevalence of target diseases. In addition, the technological advancement of major players in this field is expected to drive the development of this market segment. Examples include Medtronic’s Arctic Advance cardiac cryoablation catheter, Covidien’s closed rapid intravenous radiofrequency ablation (RFA) catheter, and CR Bard catheter (coronary sinus specialist).

DISTRIBUTION CHANNELS:

Looking forward to 2020, the hospital store segment will dominate the entire market with a 55% share. This can be attributed to the increase in the number of hospitalizations worldwide and the increase in surgical procedures that require the use of catheters for fluid infusion.Intravenous fluids and solutions. The hospital shop/pharmacy is located in the hospital and is used to store and distribute hospital medications. Hospital stores usually stock a wide range of drugs, including more specialized and research drugs, which contributes to the growth of this market segment.

Due to the existence of various e-commerce websites that provide various types of conduits, the retail store segment is expected to grow at the highest compound annual growth rate of 6% from 2021 to 2028. For example, Amazon, ShopCatheters.com, and Allegro Medical Supplies Inc. are some of the well-known e-commerce sites that provide large discounts, guarantees, and fast customer service for various catheters. This can promote product sales through the sales channel, thereby supporting the growth of the market segment during the forecast period.

REGIONAL VIEW:

North America will dominate the market with a 33% share in 2020. This can be attributed to issues such as the increase in the prevalence of chronic diseases, government support policies, increased awareness, availability of high-quality doctors, training and the presence of established sanitation facilities. In addition, increasing private research funding for innovative equipment research and development is having a positive impact on market growth in the region. In addition, the region has witnessed agreements conducive to its growth. For example, in December 2018, specialty chemicals manufacturer Evonik and US medical-grade polymer manufacturer Compounding Solutions LLC signed a distribution agreement for healthcare products.

The Asia-Pacific region is expected to experience the fastest growth. From 2021 to 2028, there are huge untapped opportunities in emerging economies such as India and China due to various factors such as increased disposable income, increased health care spending, and emerging economies such as India and China. In addition, a large number of patients suffering from kidney and cardiovascular diseases and improvements in medical facilities are expected to lead to substantial growth in the market in this region. Favorable government policies, product releases and approvals, and innovations in this area are expected to further drive market growth.

MAJOR COMPANIES AND MARKET SHARE INFORMATION:

The company continuously launches new products and expands its influence through geographic expansion to gain greater market share. Japan's Terumo Corporation acquired Sequent Medical, a US medical device manufacturer, through its US subsidiary. As a result, global companies have moved production facilities to other countries to achieve economies of scale.

In addition, many manufacturers in the catheter industry cooperate with major medical device distributors to market and supply their products globally or in selected countries. Therefore, strategic alliances between medical device manufacturers and distributors are very common. This alliance not only helps manufacturers obtain permission to sell their products, but also reduces their liability in the event of product recalls and adverse events. For example, Coloplast and Premier Inc., a US-based healthcare improvement company, signed a three-year Coloplast urology product purchase agreement, including catheters, starting in March 2019. Premier Inc. A network alliance with approximately 4,000 US hospitals, integrating data and analysis, consulting, and supply chain solutions, will be used to increase transactions with Coloplast at a lower cost. Some of the major players in the global catheter market include: Hollister IncorporatedMedtronicBoston Scientific CorporationEdwards LifesciencesSmith Medical Inc. Teleflex IncorporatedConvaTec Group PlcCure Medical LLC.

MARKET SEGMENTS COVERED BY THE REPORT:

The report forecasts global, regional and national revenue growth, and analyzes the latest industry trends and opportunities in each sub-segment from 2021 to 2030. For the purpose of this research, Kenneth research has segmented the global catheter market report according to product type, distribution channel and region: Product Type Outlook (Revenue, USD million, 2021 to 2030) Cardiovascular Catheter Urology Catheter Vein Neurovascular catheter professional catheter distribution channel outlook (revenue, millions of dollars), 2021 to 2030) Hospital store, retail store, other.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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