JERSEY CITY, N.J., June 24, 2022 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the 'Global Sensor-based Smart Catheters Market By Product Type (Temperature Sensing Foley Catheter, Pressure Catheter, Mapping Catheter, and Others), Catheter Type (Single Lumen, Multi Lumen), Material (Silicon, Polytetrafluoroethylene, Polyetheretherkeone, and Others), Application ( Cardiovascular, Urology, Gynecology, Neurovascular, and Others) - Trends, Industry Competition Analysis, Revenue and Forecast To 2030.'
According to the latest research by InsightAce Analytic, the global sensor-based smart catheters market is valued at US$ 3.83 billion in 2021, and it is expected to reach US$ 8.12 billion by 2030, with a CAGR of 9.0% during the forecast period of 2022-2030.
In recent times, most medical interventions are performed using minimally invasive procedures aided by smart imaging and sensing catheters that serve as the surgeon's "eyes and ears" directly at the point of intervention. The ability of a Sensor-based smart catheter to detect pH changes in its environment is an advantage for people with chronic diseases who have a history of frequent hospitalization. This entices med-tech companies to research smart catheter flow sensors to stay ahead of the competition.
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The increasing number of surgical procedures for chronic diseases and ICU admissions are expected to drive up demand for Sensor-based smart catheters. The increased incidence of urinary bladder disorders, renal failure, and coronary heart disease is expected to drive the development of the global market for Sensor-based smart catheters in the coming years. Due to an increase in the prevalence of catheter-associated urological and vascular infections, which will favourably impact the market for Sensor-based smart catheters, governments in developed countries have developed guidelines for nurses and other healthcare professionals to use catheterization efficiently and safely.
However, industry growth may be hampered by the high cost of sophisticated catheters. An increasing number require novel catheters of patients undergoing catheterization procedures due to their chronic and cardiovascular diseases, such as urinary bladder, renal failure, and coronary heart disease. The pricey catheterization procedures required to treat these diseases, however, could cause the adoption rate of catheters to fall in low-income nations.
In 2021, North America led the market. This expansion can be linked to raising public awareness of urinary infections, highly qualified doctors' availability and well-established healthcare facilities in the region. The Asia Pacific is predicated to expand rapidly during the forecast period as a result of the region's growing geriatric population and improved healthcare infrastructure. The presence of a sizable patient base with kidney and cardiovascular diseases as well as improved medical facilities are boosting the market in the region.
The most prominent market players in the Sensor-based smart catheter market are Abbott Laboratories, ICU Medical, Inc., B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Teleflex Incorporated, Becton, Dickinson and Company, Biometrix, Medtronic plc, AD Instruments, UroDev Medical, Asid Bonz GmbH, Bactiguard AB, COOK Medical, Laborie, Medline Industries, ZOLL Medical Corporation, TE Connectivity, and Other prominent players.
Key Developments:
- In Feb 2022, Teleflex Incorporated announced that the U.S. Food and Drug Administration had cleared a prolonged indication for its speciality catheters and coronary guidewires for use in crossing (CTO PCI) chronic total occlusion percutaneous coronary interventions.
- In Oct 2020, Johnson & Johnson Services, Inc. received FDA approval for Biosense Webster, Inc.'s Thermocool Smarttouch SF Ablation Catheter to cure persistent atrial fibrillation (persistent AF).
- In Aug 2020, The TactiFlex PAF IDE study, which Abbott is conducting to assess the effectiveness of the TactiFlex Ablation Catheter, Sensor-Enabled, has announced the enrollment of its first participants. The catheter is made to help people with paroxysmal atrial fibrillation (PAF), whose symptoms can't be controlled by medicine.
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Global Sensor-based Smart Catheters Market, by Product Type, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Temperature Sensing Foley Catheter
- Pressure Catheter
- Mapping Catheter
- Others
Global Sensor-based Smart Catheters Market, by Catheter Type, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Single Lumen
- Multi Lumen
Global Sensor-based Smart Catheters Market, by Material, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Silicon
- Polytetrafluoroethylene
- Polyetheretherkeone
- Others
Global Sensor-based Smart Catheters Market, by Application, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Cardiovascular
- Urology
- Gynecology
- Neurovascular
- Others
Global Sensor-based Smart Catheters Market, by Region, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Sensor-based Smart Catheters Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- U.S.
- Canada
Europe Sensor-based Smart Catheters Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Sensor-based Smart Catheters Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Sensor-based Smart Catheters Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa Sensor-based Smart Catheters Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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Other Related Reports Published by InsightAce Analytic:
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Global Radiofrequency Ablation Catheters Market
Global Vascular Access Device Market
Global Drug Infusion Systems Market
Global Interventional Pulmonology Market
Global Glaucoma Drainage Devices Market
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- To receive a comprehensive analysis of the prospects for the Global Sensor-based Smart Catheters Market
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- To analyze the Global Sensor-based Smart Catheters Market drivers and challenges
- To get information on the Global Sensor-based Smart Catheters Market size (Value US$ Mn) and Volume (No. of Units) forecast to 2030
- Significant investments, mergers & acquisitions in the Global Sensor-based Smart Catheters Market industry
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