USD 22.7 Billion
Global Catheter Market Size, Share, Growth Analysis, By Product(Cardiovascular catheters, urology catheters), By Distribution Channel(Hospitals stores, Retail stores) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2676 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
Global Catheter Market Insights
Catheter Market size was valued at USD 22.7 Billion in 2021 and is poised to grow from USD 24.54 Billion in 2022 to USD 45.76 Billion by 2030, at a CAGR of 8.1% during the forecast period (2023-2030).
The global catheter market has experienced substantial growth and is poised for continued expansion in the coming years. The market's growth is attributed to several key drivers. One of the primary drivers of the global catheter market is the increasing prevalence of chronic diseases, such as cardiovascular disorders, urinary incontinence, and kidney diseases. These conditions require long-term medical intervention, often involving the use of catheters for diagnosis, treatment, or monitoring. The rising ageing population and the growing burden of non-communicable diseases are contributing to the higher demand for catheters globally. Technological advancements and innovations have also fueled the growth of the catheter market.
Manufacturers are developing advanced catheter designs, such as minimally invasive and robotic-assisted catheters, which offer improved accuracy, safety, and patient comfort. Additionally, the integration of technologies like robotics, sensors, and wireless communication in catheter devices has enhanced their diagnostic and therapeutic capabilities, further driving market growth. Furthermore, the increasing preference for outpatient and minimally invasive procedures has boosted the demand for catheters. Minimally invasive procedures offer advantages like reduced trauma, shorter hospital stays, and faster recovery, leading to an increased adoption of catheters in various medical specialties. The shift toward ambulatory care and the growing focus on cost-effective healthcare solutions are propelling the demand for catheters in outpatient settings. However, the global catheter market also faces certain challenges.
One significant challenge is the risk of catheter-associated infections. Infections associated with catheter use can lead to serious complications, increased healthcare costs, and patient discomfort. Therefore, stringent infection prevention measures and the development of antimicrobial catheter coatings are essential to address this challenge. Another challenge is the stringent regulatory requirements and the need for compliance with quality standards. Regulatory authorities closely monitor the safety, efficacy, and quality of catheter products, necessitating manufacturers to invest in research and development, as well as adhere to regulatory guidelines. This regulatory landscape can pose barriers to entry for new players and impact the overall market dynamics. Moreover, the high cost of advanced catheter devices and the limited reimbursement coverage in some regions can hinder market growth. Affordability issues and the lack of reimbursement options for certain catheter procedures may restrict their adoption, especially in emerging economies.
US Catheter Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospital
Fastest Growth
Hospital
Growth Rate
8.1% CAGR
Global Catheter Market ($ Bn)
Country Share for North America Region (%)
Global Catheter Market By Distribution ($ Bn)
Global Catheter Market By Distribution channel (%)
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Global Catheter Market Segmental Analysis
The global catheter market is segmented on the basis of product, distribution channel, and region. By product, the market is segmented into cardiovascular catheters, urology catheters, intravenous catheters, neurovascular catheters, and other products. By distribution channel, the market is segmented into hospital stores, retail stores, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Catheter Market Analysis By Product
The global catheter market is segmented based on product types, including cardiovascular catheters, urology catheters, intravenous catheters, neurovascular catheters, and other products. Each segment serves specific medical purposes and caters to different patient needs.
One dominant segment in the global catheter market is cardiovascular catheters. Cardiovascular catheters are used for diagnostic and therapeutic purposes in the treatment of cardiovascular diseases, such as coronary artery disease, heart valve disorders, and arrhythmias. These catheters enable access to the heart and blood vessels, facilitating procedures like angioplasty, stenting, and electrophysiology studies. The cardiovascular catheter segment holds a dominant position due to the high prevalence of cardiovascular diseases and the significant demand for cardiac interventions globally.
The fastest-growing segment in the global catheter market is neurovascular catheters. Neurovascular catheters are designed for the diagnosis and treatment of neurovascular disorders, including aneurysms, arteriovenous malformations, and ischemic strokes. These catheters play a critical role in accessing and navigating the intricate blood vessels of the brain and delivering therapeutic agents or devices. The neurovascular catheter segment is witnessing rapid growth due to advancements in neurointerventional techniques, increased awareness of neurovascular disorders, and the rising demand for minimally invasive neurosurgical procedures.
Catheter Market Analysis By Distribution Channel
The global catheter market can be segmented based on distribution channels, including hospital stores, retail stores, and others. Each distribution channel serves a specific purpose in delivering catheter products to end-users.
One dominant distribution channel in the global catheter market is hospital stores. Hospitals play a crucial role in the healthcare system and serve as key distribution points for medical devices, including catheters. Hospital stores offer a wide range of catheter products to healthcare professionals, ensuring easy access for medical procedures and patient care. The dominant position of hospital stores is due to the significant volume of catheter usage within hospital settings and the direct procurement by healthcare facilities.
The fastest-growing distribution channel in the global catheter market is retail stores. Retail stores, including pharmacies and medical supply stores, are increasingly becoming accessible points of purchase for catheters. This trend is driven by the rising demand for home healthcare and the preference for purchasing catheters directly by patients or their caregivers. Retail stores offer convenience, a wide range of product options, and the ability to cater to specific patient needs. The growing availability of over-the-counter catheter products and the expansion of retail networks contribute to the rapid growth of this distribution channel.
Global Catheter Market By Distribution Channel, 2023 (%)
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Global Catheter Market Regional Insights
One dominant region in the global catheter market is North America. North America, particularly the US, holds a prominent position due to its well-established healthcare infrastructure, high healthcare spending, and significant presence of leading medical device manufacturers. The region's dominant position can be attributed to the high prevalence of chronic diseases, advanced healthcare facilities, and favourable reimbursement policies. North America is a major market for catheters, driven by the demand for cardiovascular, urology, and intravenous catheters.
The fastest-growing region in the global catheter market is the Asia Pacific. The Asia Pacific region, including countries such as China, India, Japan, and South Korea, is experiencing robust growth in the catheter market. This growth can be attributed to several factors, including the increasing geriatric population, rising prevalence of chronic diseases, improving healthcare infrastructure, and growing healthcare expenditure. Additionally, the region's large population and rising awareness of minimally invasive procedures contribute to the growing demand for catheters. The Asia Pacific region is witnessing significant investments in healthcare and medical technologies, leading to the adoption of advanced catheter products and driving market growth.
While North America dominates the global market, Asia Pacific presents exciting growth opportunities due to its rapidly evolving healthcare sector, increasing patient population, and favourable government initiatives. The demand for catheters in the Asia Pacific region is expected to continue growing as healthcare facilities improve, medical awareness expands, and healthcare expenditure increases.
Global Catheter Market By Region, 2024-2031
- Largest
- Fastest
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Global Catheter Market Dynamics
Catheter Market Drivers
Growing Aging Population
- The global increase in the aging population contributes to the demand for catheters. Elderly individuals are more prone to chronic diseases, including cardiovascular conditions and urinary disorders, which often require catheterization. The rising geriatric population worldwide is a significant driver for the catheter market.
Increasing Demand for Minimally Invasive Procedures
- The shift towards minimally invasive procedures is driving the demand for catheters. Minimally invasive techniques offer advantages such as reduced trauma, shorter hospital stays, and faster recovery. The growing preference for these procedures in various medical specialties, including cardiology, urology, and neurology, propels the demand for catheters.
Catheter Market Restraints
Stringent Regulatory Requirements
- The catheter market is subject to stringent regulatory requirements and the need to comply with quality standards. Manufacturers must invest in research and development and adhere to regulatory guidelines, which can pose barriers to entry for new players and impact the overall market dynamics.
High Cost of Advanced Catheter Devices
- The high cost of advanced catheter devices can hinder market growth, particularly in emerging economies. Affordability issues and limited reimbursement coverage for certain catheter procedures may limit their adoption, potentially impacting market expansion.
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Global Catheter Market Competitive Landscape
The global catheter market features a highly competitive landscape with numerous players operating across regions. The market is characterised by intense competition and a focus on innovation, product differentiation, and strategic partnerships. Companies in the catheter market strive to gain a competitive edge by developing advanced catheter designs, enhancing product performance, and expanding their product portfolios. The competitive landscape is influenced by factors such as mergers and acquisitions, collaborations, and technological advancements. Companies often engage in strategic alliances to leverage complementary strengths, gain access to new markets, or enhance their technological capabilities. These collaborations enable players to strengthen their market position, expand their customer base, and drive innovation. The competitive landscape of the global catheter market is shaped by various parameters, including product quality, regulatory compliance, cost-efficiency, and customer service. Companies that offer a combination of high-quality products, cost-effective solutions, and excellent customer support have a competitive advantage.
Catheter Market Top Player’s Company Profile
- Medtronic - Ireland
- Boston Scientific Corporation - US
- Abbott Laboratories - US
- Becton, Dickinson and Company (BD) - US
- Johnson & Johnson - US
- Terumo Corporation - Japan
- C.R. Bard (now part of BD) - US
- Teleflex Incorporated - US
- Edwards Lifesciences Corporation - US
- Cook Medical - US
- Cardinal Health, Inc. - US
- Olympus Corporation - Japan
- Smiths Medical - UK
- Stryker Corporation - US
- ConvaTec Group - UK
- Coloplast Group - Denmark
- Merit Medical Systems, Inc. - US
- Fresenius Medical Care AG & Co. KGaA - Germany
- Nipro Corporation - Japan
- W.L. Gore & Associates, Inc. - US
Catheter Market Recent Developments
- In January 2023, Medtronic announced the launch of its new Everolimus-Eluting Coronary Stent System. The stent is designed to reduce the risk of restenosis, a narrowing of the coronary artery that can occur after a stent is implanted.
- In February 2023, Abbott Laboratories announced the launch of its new MitraClip System. The system is used to treat mitral regurgitation, a condition in which the mitral valve does not close properly, allowing blood to flow back into the heart.
Global Catheter Key Market Trends
- Rise of Home Healthcare: There is a growing shift towards home healthcare, driven by the desire for patient comfort, cost-effectiveness, and the availability of advanced medical devices. Catheters are increasingly being used in home healthcare settings, enabling patients to manage chronic conditions and receive necessary treatments in the comfort of their homes. This trend emphasises the need for user-friendly, easy-to-handle catheter products.
- Focus on Infection Control: Catheter-associated infections remain a significant concern in healthcare settings. As a result, there is an increasing focus on infection control measures in catheter design and materials. Manufacturers are incorporating antimicrobial coatings, hydrophilic or antibacterial surfaces, and other innovations to reduce the risk of infections and improve patient safety.
Global Catheter Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global catheter market analysis, North America holds a dominant position due to its well-established healthcare system, while the Asia Pacific region emerges as the fastest-growing segment, driven by economic growth, population demographics, and healthcare advancements. The global catheter market is experiencing significant growth and is poised for continued expansion in the coming years. The market is driven by various factors, including the rising prevalence of chronic diseases, technological advancements, the shift towards minimally invasive procedures, and the growing demand for home healthcare. Technological innovations, such as improved catheter designs, advanced coatings, and integration with imaging or sensor technologies, are enhancing patient outcomes and safety.
The market is also witnessing a trend towards personalised and patient-specific catheter solutions, as well as a focus on infection control measures to reduce catheter-associated infections. Additionally, there is a growing adoption of specialty catheters and an increasing emphasis on sustainability and eco-friendly practices. Despite challenges such as regulatory compliance and the risk of infections, the global catheter market presents lucrative opportunities for manufacturers to cater to the evolving needs of healthcare providers and patients worldwide. As healthcare practices continue to evolve and the demand for minimally invasive procedures and home-based care increases, the catheter market is expected to witness sustained growth in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 22.7 Billion |
| Market size value in 2031 | USD 45.76 Billion |
| Growth Rate | 8.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Catheter Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Catheter Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Catheter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Catheter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Catheter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Catheter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Catheter Market Report Snapshots
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