A rising demand for minimally invasive surgery and advanced therapeutic services will likely drive the market for cardiac diagnostic catheters.
WILMINGTON, Del., Dec. 13, 2023 /PRNewswire/ -- A US$ 3.0 billion value was registered for the cardiac diagnostic catheters market in 2022. A CAGR of 7.0% is projected for 2023 to 2031, with a market value of more than US$ 5.6 billion by 2031. Healthcare, including cardiac diagnostics, is increasingly focused on personalized medicine.
Patients' specific needs and characteristics are taken into account when developing diagnostic procedures and treatment plans. A specialized catheter that provides personalized diagnostic information may be developed due to this trend
Fluoroscopy, ultrasound, and magnetic resonance imaging (MRI) are the more advanced imaging technologies that can be combined with cardiac diagnostic catheters to improve diagnostic precision and effectiveness. As a result, the cardiac anatomy and function of the heart are more accurate and detailed, which contributes to market growth.
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Cardiac Diagnostic Catheters Market Report Scope:
Report Coverage | Details |
Forecast Period | 2023-2031 |
Base Year | 2017-2021 |
Size in 2022 | US$ 3.0 Bn |
Forecast (Value) in 2031 | US$ 5.6 Bn |
Growth Rate (CAGR) | 7.0 % |
No. of Pages | 140 Pages |
Segments covered | Product, End-user |
Key Findings of the Market Report
- The advancement of technology has led to a growing demand for improved catheter designs that help doctors diagnose cardiac conditions more precisely and accurately.
- Globally, electrophysiology catheters are expected to dominate the market in upcoming years.
- Globally, hospitals are expected to hold a major share of the market by 2023.
- With the increase in the prevalence of cardiovascular diseases in North America, the region is likely to dominate the global market.
Global Cardiac Diagnostic Catheters Market: Growth Drivers
- Heart attacks and other cardiac conditions are driving the global cardiac diagnostic catheter market. Cardiovascular health diagnostics have become more popular as the incidence of these diseases grows. Technological advancements and continuous innovations are driving the market's growth. Diagnostic procedures are becoming more accurate and efficient as catheter design, materials, and imaging technologies improve.
- Minimally invasive diagnostic procedures are becoming increasingly popular over traditional surgical procedures. In addition to extending hospital stays for patients and reducing healthcare costs, cardiac diagnostic catheters provide visualization and access to the heart and vessels without requiring open-heart surgery. Cardiovascular diseases are more prevalent among the aging population, increasing the need for cardiac diagnostic procedures.
- Heart-related conditions are expected to become more prevalent as the population ages, increasing the need for cardiac diagnostic catheters. To detect and diagnose cardiovascular diseases early, healthcare professionals and the general public need to become more aware of the importance of cardiac diagnostic catheters. Preventive healthcare measures are promoted through education campaigns and initiatives, which lead to a greater frequency and earlier diagnosis of diseases.
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Global Cardiac Diagnostic Catheters Market: Regional Landscape
- North America is expected to lead the market for cardiac diagnostic catheters. Increasing aging populations and obesity problems in the United States and Canada will increase demand for these products. As cardiac disease prevalence increases and point-of-care services become more prevalent in the region, demand is expected to rise. According to a CDC report, approximately 695,000 Americans died from heart disease in 2021, which means 1 out of 5 deaths were caused by heart disease.
- In the United States, heart disease is one of the leading causes of death in both genders and most racial & ethnic groups, according to the CDC report of 2021. A CVD-related death occurs every 33 seconds in the United States. Increasing chronic diseases and technological advancements are expected to further propel the region's growth. The United States Food and Drug Administration (FDA) has approved Teleflex's coronary guidewires and specialized catheters for percutaneous coronary interventions in patients with chronic complete occlusions (CTO PCIs).
Global Cardiac Diagnostic Catheters Market: Key Players
Cardiac diagnostic catheters are a highly consolidated industry with few large companies. Most companies are heavily investing in research and development activities to develop innovative products based on advanced technologies.
Leading players are adopting several strategies to increase their cardiac diagnostic catheter's market revenue share. In addition to acquisitions, the company is expanding its product portfolio.
- Abbott
- Ares Medikal
- B. Braun SE
- BIOTRONIK SE & Co KG
- Boston Scientific Corporation
- BrosMed Medical Co., Ltd.
- Cascade Health Care
- Cordis
- Johnson & Johnson
- Medtronic
- Guangzhou Weili Medical Equipment Co., Ltd.
- Koninklijke Philips N.V.
- Lepu Medical Technology (Beijing) Co., Ltd.
- Merit Medical Systems
- Teleflex Incorporated
- VYAIRE
Key Developments
- In July 2023, Biosense Webster, Inc., part of Johnson & Johnson MedTech, introduced the U.S. launch of the OPTRELLTM Mapping Catheter with TRUEref Technology.
- In December 2023, BD launched the SiteRite 9 Ultrasound System to enable clinicians to place central venous catheters, peripherally inserted central catheters (PICCs), and IV lines. The SiteRite 9 Ultrasound System also includes a 15.6-inch touch screen, enhanced image quality, and the Sherlock 3CG+TM Tip Confirmation System, which guides catheter tip navigation in real-time.
Global Cardiac Diagnostic Catheters Market: Segmentation
By Product
- Angiography Catheters
- Electrophysiology Catheters
- Ultrasound Catheters
- Optical Coherence Tomography Catheters
- Pressure and Hmodynamic Monitoring Catheters
- Others
By End User
- Hospitals
- Diagnostic & Imaging Centers
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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