Valuation of Sensor Based Smart Catheters Market to Exceed US$ 7 Bn by 2031, TMR Report
Advent of next-gen sensor based smart catheters that prevent the need for repeated catheterization for several urological conditions to steer growth
Wilmington, Delaware, United States, June 22, 2022 (GLOBE NEWSWIRE) -- Analysts at TMR estimate the sensor based smart catheters market to expand at a CAGR of 8% for the forecast period from 2022 to 2031. Rise in prevalence of cardiovascular diseases and expanding geriatric population leading to increase in the number of interventional procedures is driving sales of next-gen catheters.Demand for sensor based smart catheters is expected to rise due to the increasing number of surgical procedures for the increasing number of chronic diseases and ICU admissions. Increasing prevalence of urinary bladder disorders, renal failure, and coronary heart disease is likely to increase the need for catheterization procedures to shape growth of global market for sensor based smart catheters in the upcoming years.
Superior feature of sensor based smart catheter to detect pH change in its environment spells advantage for individuals with chronic diseases to sense risk of infection with history of frequent hospitalization. This attracting med-tech companies to engage in research on smart catheter flow sensors and stay ahead in the competition. Launch of innovative catheters to improve patient safety to influence future market demand for sensor based smart catheters, finds TMR.
North America led the sensor based catheters market in 2021. High prevalence of chronic nephrosis and large number of cardiac catheterization procedures in the U.S. fuel demand for sensor based smart catheters in the region.
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*Sensor Based Smart Catheters Market – Key Findings of the Report*
· Product innovation using silicone is a recent development in the sensor based smart catheter market. Demand for silicon to soar as it is free of latex and is preferred by patients suffering from latex allergies.
· Increasing incidence of catheter-associated UTI has compelled governments in developed countries to set forth standards for nurses and other health caregivers to use catheters safely and efficiently. For example, work practices of the European Association of Urology Nurses in various countries of the region are governed by several governments in Europe.
· Mapping catheters product type segment is anticipated to hold leading 40% share of the sensor based smart catheters market by 2031. Significance of mapping catheter to monitor heart’s electrical activity for diagnosis and treatment of heart disease fuels demand for the product.
· Single lumen catheter type held a significant nearly 50% share of sensor based smart catheters market in 2021. Increasing demand for cardiac mapping and assessment of vascular lesions of the head & neck, brain, and sine via sensor based catheters fuels the growth of single lumen catheter type segment
· Silicon material type accounted for a substantial nearly 60% share of sensor based smart catheters market in 2021. Array of advantages of silicone catheters including reduced injuries and medically recommended for patients with long-term indwelling urinary catheters requirement swells demand*Request for Analysis of COVID-19 Impact on Sensor Based Smart Catheters Market – * https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=84845
*Sensor Based Smart Catheters Market – Growth Drivers*
· Critical use to detect changes in the pH around the catheter for therapeutics, disease management, and to monitor inflow or outflow of fluids during surgical procedures fuels the growth of sensor based smart catheters market
· Advantage of reduced risk of infection for patients with weakened immune system associated with frequent hospitalization strengthens demand
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*Sensor Based Smart Catheters Market – Key Players*
Some of the prominent players present in the sensor based smart catheters market are;
· Abbott Laboratories
· Johnson & Johnson Services Inc.
· Teleflex Incorporated
· Biometrix
· AD Instruments
· ICU Medical Inc.
· Medtronuc plc
· Becton, Dickinson and Company
· B. Braun Melsungen AG*Make an Enquiry Before Buying – *https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=84845
The sensor based smart catheters market is segmented as follows;
*Sensor Based Smart Catheters market, by Product Type*
· Temperature Sensing Foley Catheter
· Pressure Catheter
· Mapping Catheter
· Others
*Sensor Based Smart Catheters market, by Catheter Type*
· Single Lumen
· Multi Lumen
*Sensor Based Smart Catheters market, by Material*
· Silicon
· Polytetrafluoroethylene
· Polyetheretherkeone
· Others
*Sensor Based Smart Catheters market, by Application*
· Cardiovascular
· Urology
· Gynecology
· Neurovascular
· Others*Sensor Based Smart Catheters market, by Region*
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & AfricaModernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Healthcare Industry Reports by Transparency Market Research:
Urinary Catheters Market: The urinary catheters market is projected to witness lucrative growth opportunities over the forecast period, owing to rapid healthcare advancement, increase in geriatric population, and improved healthcare infrastructure.
NICU Catheters Market: Rise in prevalence of premature deliveries and maternal mortality is projected to drive the global NICU catheters market during the forecast period. The global NICU catheters market was valued at US$ 400 Mn in 2020 and is anticipated to expand at a CAGR of 4.5% from 2021 to 2031.
Indwelling Catheters Market: Rise in prevalence of urologic diseases such as urinary retention and prostate hypertrophy across the globe, increase in geriatric population, and technological advancements such as introduction of novel coatings are the key factors projected to drive the global indwelling catheters market during the forecast period.
Foley Catheters Market: The demand within the global foley catheters market is projected to rise at a stupendous pace over the forthcoming phases. Rising incidence of prostate hypertrophy has created increased demand within the global market.
Micro Guide Catheters Market: Increased affordability and high accessibility to clinics, hospitals and other medical setups is anticipated to draw a large pool of patients. Riding on the back of these factors, the global micro guide catheters market is anticipated to observe high growth in the years to come.
Catheters Market: The demand for catheters is expected to remain high in the coming years observes Transparency Market Research. The global catheters market is projected to be worth US$55,985.1 mn by the end of 2025. During the forecast years of 2017 and 2025, the global catheters market is expected to exhibit a CAGR of 7.4%.
Urology Devices Market: The global urology devices market is significantly driven by the increasing demand for urology devices such as dialysis products, endoscopes, peripheral instruments, etc. from hospitals. Several device manufacturers are focusing on introducing technologically advanced products, including urology lasers and robotic systems for early diagnosis of diseases related to the urinary tract system.
Neurovascular Embolization Devices Market: The global neurovascular embolization devices (neurology) market was valued at ~US$ 1.2 Bn in the years 2018, and the market is anticipated to reach ~US$ 1.6 Bn by 2027, expanding at a CAGR of ~3% from 2019 to 2027.
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