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Valued at $14.3 billion in 2019, the global catheter market size is projected to witness a CAGR of 8.8%, during the forecast period (2020–2030). Rising surgical procedures, increasing demand for interventional radiology procedures, rising burden of chronic diseases, surging geriatric population, and increasing number of product launches are the key growth factors driving the catheter industry.
In 2019, the cardiovascular category accounted for the largest market size in the catheter industry, on the basis of type. This is mainly due to the high prevalence of cardiovascular diseases (CVDs), across the globe and wide use of catheters to diagnose and treat CVDs. According to the World Health Organization (WHO), CVDs are the main cause of death across the world, causing approximately 17.9 million deaths each year. In addition, coronary artery disease (CAD) is one of the most common causes of morbidity and mortality in both low- and middle-income and developed countries, thereby, increasing the adoption of catheters, worldwide.
Pigtail-shaped catheters held the largest share in the catheter market in 2019, on the basis of shape. This category is also projected witness the fastest growth during the forecast period. This can be ascribed to the fact that pigtail-shaped catheters are smaller in size, flexible, less traumatic, and ensure easy insertion to diagnose or treat blockages in blood vessels. In addition, the category is also associated with low complication rate, which, in turn, is likely to impact the catheter market growth positively.
Hospitals and ASCs were the largest end users of catheters and related products in 2019. This category is further expected to hold the largest share in the catheter market during the forecast years, owing to the increasing number of hospitalization cases; surging prevalence of chronic diseases; advanced patient care and support provided to patients under the supervision of trained professionals; and rising number of healthcare facilities across the globe.
In 2019, North America held the largest share in the catheter market, due to the rising prevalence of chronic diseases, increasing healthcare expenditure, rising number of initiatives taken by public and private organizations to create awareness about the use of catheters, surging elderly population, and presence of big market players in the region.
Further, governments are promoting the use of catheters; for instance, the Canadian government, Centers for Disease Control and Prevention (CDC), and other organizations are helping healthcare facilities to improve the practices of catheterizations. According to an article published by the British Medical Journal (BMJ), in January 2020, the overuse of urinary catheters has been a growing concern in the U.S. and Canadian healthcare systems. To ensure the proper use of catheters, the CDC published guidelines on the use of urinary catheters in 2009, clearly defining appropriate and inappropriate urinary catheter use.
One of the major factors responsible for driving the catheter market growth in the APAC region is the presence of key players in APAC countries and their engagement in strategic development activities to attain significant market position. For instance, in May 2019, Stereotaxis Inc. and Osypka AG announced a broad strategic collaboration to design and develop a next-generation magnetic ablation catheter to be navigated using Stereotaxis’ robotic technology.
On the other hand, improving healthcare infrastructure in the region is expected to drive the catheter market in coming years, as hospitals in APAC countries are increasing at a significant rate to meet the demands and requirements of medical patients. For instance, there were 16,318 hospitals in China in 2000, which increased to 33,009 hospitals in 2018.
COVID-19 has positively impacted the catheter market. This is mainly because people with chronic medical conditions have weak immunity system and are at increased risk of developing COVID-19 infection. Moreover, understanding the effect of the COVID-19 pandemic, the cardiology societies have issued advisories with steps to take in cardiac catheterization laboratories to ensure optimal safety of patients and hospital personnel.
Due to this pandemic, the outlook of the industry has changed significantly, thereby boosting the demand for catheters in 2020 across the globe. It posed strong positive impact on the revenue generation in the catheter market.
The prominent trend in the catheter industry is increasing number of product launches. For instance, in May 2019, Medtronic plc entered into the guide extension catheter market with the launch of telescope guide extension catheter, a newly designed catheter used to provide additional backup support and access to distal lesions. Similarly, in February 2019, Hollister Incorporated launched the Infyna Chic intermittent catheter, designed to help provide women who use catheters with a high level of discretion. Moreover, it received CE approval in December 2018.
Urological and intravenous catheters are being widely used in homecare settings, primarily due to the geriatric population who require continuous monitoring and administration of medications. Therefore, in order to remotely monitor these patients, catheters and other required equipment are set-up in the patients’ homecare settings. Furthermore, with age, the urinary bladder becomes weak and makes the elderly susceptible to urinary tract infections (UTIs).
Increasing prevalence of chronic diseases, such as CVDs, cancer, UTIs, and neurological diseases, is fueling the growth of the catheter market, globally. For instance, according to Global Cancer Observatory (GLOBOCAN) 2018, gastric cancer was the third leading cause of cancer deaths worldwide, accounting for 783,000 deaths in 2018, as compared to 723,000 deaths in 2012. Moreover, over one million cases of gastric cancer are diagnosed each year around the world.
Similarly, the American Heart Association (AHA) stated that CVDs accounted for more than 17.6 million deaths in 2016, and this number is expected to reach 23.6 million by 2030.
|Base Year (2019) Market Size||$14.3 billion|
|Forecast Period (2020-2030) CAGR||8.8%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Company Share Analysis, Companies’ Strategical Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||Type, Shape, End User, Geography|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Russia, Netherlands Sweden, Switzerland, Japan, China, India, South Korea, Australia, Indonesia, Singapore, Brazil, Mexico, Colombia, Argentina, Saudi Arabia South Africa, U.A.E., Israel|
|Secondary Sources and References (Partial List)||Centers for Disease Control and Prevention (CDC), Organisation for Economic Co-operation and Development (OECD), World Health Organization (WHO), American Heart Association (AHA), United States Food and Drug Administration (USFDA)|
The global catheter market is fragmented in nature with presence of several key players, such as Millar Inc., Nordson Corporation, Medtronic plc, Johnson & Johnson, Stryker Corporation, Transonic Systems Inc., amg International GmbH, Medinol Ltd., Coloplast A/S, Abbott Laboratories, and Boston Scientific Corporation.
In recent years, players in the industry have engaged in strategic developments, such as partnerships and mergers & acquisitions, in order to stay ahead of their competitors. For instance:
The catheter market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Shape
Based on End User
The catheter market is predicted to exhibit a CAGR of 8.8% between 2020 and 2030.
The surging number of surgeries, soaring geriatric population, and mushrooming frequency of product launches are the key growth drivers for the catheter industry.
Cardiovascular catheters are expected to register the highest sales in the catheter market during 2020–2030.
Hospitals and ambulatory surgical centers (ASCs) will be the largest end users in the catheter industry from 2020 to 2030.
The catheter market is fragmented due to the presence of a large number of players.