Cardiovascular Catheters Market

Cardiovascular Catheters Market Outlook (2023 to 2033)

Global sales of cardiovascular catheters are predicted to increase at a healthy CAGR of 7% during the next 10 years. The global cardiovascular catheters market is valued at US$ 21.44 billion in 2023 and is thus projected to reach US$ 42.18 billion by the end of 2033.

A catheter is a small tube with various uses that is manufactured from medical-grade materials. Medical devices called catheters can be implanted within the body to treat illnesses or carry out surgeries. The act of inserting a cardiac catheter into a heart chamber or blood artery is known as cardiac catheterization. This is carried out for both diagnostic and therapeutic reasons.

Coronary catheterization, which involves inserting a catheter into the coronary arteries to check for myocardial infarctions and coronary artery disease, is a typical instance of cardiac catheterization. The coronary vessels can be examined during a diagnostic technique called coronary angiography.

In complicated lesions and chronic total occlusion percutaneous coronary procedures (CTO PCIs), coronary microcatheters (MCs) are valuable tools. By improving the penetration of guidewires and enabling guidewire exchanges, they considerably raise success rates.

• For instance, according to Teleflex, in February 2022, the U.S. FDA approved a new authorization for the use of the firm's specialized catheters and coronary guidewires in crossing chronic total occlusion percutaneous coronary procedures (CTO PCIs).

Cardiovascular catheters are segmented into cardiovascular therapeutic catheters and cardiovascular diagnostic catheters. Cell, medication, or ablation therapy can all be administered using therapeutic catheters. Atrial and ventricular arrhythmias are treated through the ablation of cardiac tissue. Global demand for cardiovascular therapeutic catheters is expected to rise at a CAGR of 7.5% from 2023 to 2033.

The examination of individuals with known or suspected heart disease often involves diagnostic cardiac catheterization or diagnostic catheters. It is commonly used to evaluate the severity and presence of congenital heart disease, heart valve issues, coronary artery disease, and abnormalities with the heart muscle. Global sales of cardiovascular diagnostic catheters are anticipated to evolve at a CAGR of 6% during the forecast period.

There are several types of catheters available based on their use such as intravascular catheters, normal balloon catheters, cutting balloon catheters, stent graft balloon catheters, scoring balloon catheters, drug-eluting balloon catheters, intravascular ultrasound (IVUS) catheters, electrophysiology catheters, cardiovascular angiographic catheters, and more. They are used in cardiac catheterization procedures but according to their need, based on the condition of the disease.

• In June 2021, Medtronic introduced the ‘Prevail’ new-generation drug-coated balloon catheter for the treatment of coronary artery disease (CAD) in Europe. During percutaneous coronary intervention (PCI) procedures, Prevail drug-coated balloon catheters are used to treat CAD patients with blocked or constrained coronary arteries.

Rapidly increasing senior population and rising cases of cardiovascular disorders are expected to boost the sales of cardiovascular catheters during the projected period. Technological advancements and rising investments in R&D are also expected to boost sales growth.

Report Attributes	Details
Cardiovascular Catheters Market Size (2023E)	US$ 21.44 Billion
Forecasted Market Value (2033F)	US$ 42.18 Billion
Global Market Growth Rate (2023 to 2033)	7% CAGR
China Market Growth Rate (2023 to 2033)	11% CAGR
Japan Market Growth Rate (2023 to 2033)	4% CAGR
Germany Market Growth Rate (2023 to 2033)	4.5% CAGR
Canada Market Growth Rate (2023 to 2033)	6% CAGR
Key Companies Profiled	AngioDynamics, Inc.; B. Braun Melsungen AG; Becton, Dickinson and Company; Biotronik SE & Co. KG; Boston Scientific Corporation; Edwards Lifesciences Corporation; GE Healthcare; Hansen Medical, Inc.; Medtronic PLC; Merit Medical Systems, Inc.; St. Jude Medical, Inc.; Terumo Medical Corporation; Toray Industries, Inc.

Which Market Trends are Directly Having a Positive Influence on the Sales of Cardiovascular Catheters?

“Increasing Need for Cardiovascular Procedures”

Cardiac catheterization is a minimally-invasive procedure that aids in the diagnosis of diseases that cause fatigue, shortness of breath, and other symptoms such as chest pain. The demand for cardiac catheters and cardiac guidewires is projected to increase during the forecast period due to the rising prevalence of chronic heart diseases worldwide.

• For instance, the European Heart Network stated in 2021 that up to 13 million new incidences of cardiovascular disease are identified each year in the European Union, where currently more than 60 million individuals live with the condition.

Increasing prevalence of heart illnesses (such as cardiomyopathy and stroke) is the main contributor to heart-related mortality. Cardiovascular diseases are among the most prevalent conditions worldwide. The demand for cardiovascular catheter devices is anticipated to increase as a result of the rising prevalence of coronary illnesses and the consequent rise in the demand for early diagnosis and treatment.

• For instance, there are already 750,000 patients with heart failure in Canada, and this number is rising every year, according to research released by the Heart and Stroke Foundation of Canada in February 2022.
• Globally, 17.9 million people die from heart disease each year, according to the World Health Organization.

“Continuous Advancements in Cardiac Diagnosis & Treatment Devices”

Over the coming years, it is projected that several respective governments are focusing on providing citizens with high-quality healthcare facilities, continuous technological improvements, and the rapidly developing medical sector would all have a beneficial effect on catheterization and cardiovascular diagnosis device sales.

Recent advancements in cardiovascular monitoring and diagnosis methods have led to the introduction of advanced physiological bio-signals. Anomalies in cardiovascular parameters can be detected more easily when the diagnosis is automated.

To improve the effectiveness of minimally-invasive interventional procedures, market players are pushing their research efforts on the development of cardiac catheters. The introduction of artificial intelligence (AI) is one of the advancements in this field.

Thus, Fact.MR, a market research and competitive intelligence provider estimates that the introduction of modern technologies and increasing cases of cardiovascular disorders (CVDs) are boosting the growth of the cardiac catheters market.

Which Drawbacks Should Producers of Cardiac Catheters Overcome?

“Side Effects Associated with Catheters”

Catheters are inserted temporarily or permanently into different parts of the body. The risk of infection exists whenever a foreign material is ingested.

For instance :

• According to the United Kingdom Health Service, urinary catheters enable germs a way into the body. This could lead to infection of the kidneys, bladder, or urethra.

These illnesses are known as urinary tract infections or UTIs. As a result, the risk of infections may cause patients to adopt catheters less frequently, which would affect sales growth. Also, the high costs of surgeries and unfavourable reimbursement policies are hampering the demand for catheters.

Country-wise Analysis

What Makes the United States a Huge Market for Cardiovascular Catheters?

“Presence of Key Market Players and Advanced Healthcare Infrastructure”

The United States is predicted to lead the North American cardiovascular catheters market, due to the high prevalence of cardiac illnesses, the high acceptance rate of minimally-invasive procedures, the presence of advantageous reimbursement policies, and the increasing elderly population.

• A heart attack occurs in the United States every 40 seconds, and over 805,000 Americans have a heart attack each year, according to the Centers for Disease Control and Prevention (CDC's) latest data, which was published in October 2022.

Therefore, the demand for cardiovascular ablation catheters is increasing due to the rising prevalence of heart-related disorders. Also, the presence of leading companies in the nation is supporting the sales of cardiac catheters.

To compete with the current products, major market players in the nation are creating unique innovations and products for the cardiac catheter market, while others are buying out and forming partnerships with other businesses that are trending on the market.

• For instance, The world's first solid core pressure wire for coronary artery interventional treatments, called OmniWire, was launched by Royal Philips, a leading provider of health technology, on August 17, 2020. The innovative gadget will make it simpler for doctors to guide the delivery of stents and catheters as well as move the wire used to measure blood pressure in the patient's circulatory system.

What are the Opportunities in the Germany Cardiovascular Catheters Market?

“Rising Cases of Heart-related Disorders”

Germany is the leading marketplace for cardiac catheter manufacturers in the European region. This can be attributed to the aspects such as the high rate of heart diagnosis, availability of efficient and effective government healthcare facilities, and awareness of heart health.

According to recent studies, Germany is among the countries with the highest rates of heart disease; it is ranked eighth globally for the number of deaths attributable to heart disease.

• In Germany, heart disease claims more than 310 lives per year out of 100,000.

This is more exorbitant than the rates in the United States and the United Kingdom combined. In Germany, heart-related disorders are the most prevalent and the leading cause of death.

Thus, the above-mentioned factors are increasing the rate of catheterization and cardiovascular interventions in the nation, which subsequently is driving sales of cardiac catheters.

Why are Manufacturers of Cardiovascular Catheters Earning More Profits in Japan?

“High Percentage of Senior Population Increasing Cases of Cardiac Conditions”

• In December 2021, the National Cerebral and Cardiovascular Center of Japan projected that there were roughly 1.2 million heart failure patients in Japan.

In Japan, it is estimated that individuals often live to be 100 years old and the prevalence rate of cardiovascular disorders rises with age. Thus, this factor is boosting the demand for cardiovascular catheters in the nation. Also, the increasing cases of heart failure in Japan are supporting sales growth.

• In 2021, almost 29% of Japan's population was 65 years of age or older, according to World Data 2022.

Furthermore, growing marketing activities by the major market players are anticipated to fuel sales growth in Japan.

• For instance, Rampart IC secured distribution to the Japanese market by signing an exclusive distribution arrangement with Japan Lifeline (JLL) in March 2022. Although it was created for interventional cardiologists (ICs), the Rampart M1128 has found use in several interventional disciplines.

Such distribution alliances are promoting the sales of cardiovascular devices in Japan.

Category-wise Analysis

Who is a Major End User of Cardiovascular Catheters?

“Hospitals Handsomely Dominate Sales of Cardiac Catheters”

Based on end user, the cardiovascular catheters are segmented into hospitals, clinics, and ambulatory surgical centers. Demand for cardiac catheters from hospitals is expected to increase at a healthy CAGR during the forecast period.

A coronary heart disease is a common form of CVDs, the rising prevalence of heart-related disorders worldwide is increasing the rate of hospitalization, which is further rising the demand for cardiac catheters. Factors such as the availability of advanced healthcare systems, the presence of skilled medical professionals, and reimbursement policies are supporting sales growth.

Competitive Landscape

Some of the key players in the cardiovascular catheters market are AngioDynamics, Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Biotronik SE & Co. KG, Boston Scientific Corporation, Medtronic PLC, and Merit Medical Systems, Inc.

The leading companies in the cardiovascular catheters market are focusing on the diversification of product portfolios by adopting several marketing strategies such as improving quality control, product standards, and high investments in R&D. They are also concentrating on regional business expansion by improving local supply chain management systems.

New Developments :

• L2Mtech GmbH received its first CE mark for six products in February 2021. This confirms the effectiveness and safety of the company's cutting-edge cardiovascular and endovascular applications. The business intends to commercially introduce products that bear the CE mark.
• A medical device company called iVascular SLU declared the global release of its innovative coronary artery drug-coated balloon catheter in June 2020. The product, called Essential Pro, has several upgrades over the earlier version.

Key Segments of Cardiovascular Catheters Industry Research

• By Product:

  • Cardiovascular Therapeutic Catheters
  • Cardiovascular Diagnostic Catheters

• By End User:

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA