Global Catheter Market Forecast 2024-2030: Analysis by Type, Material, End User, Product, Application & Region, Featuring Profiles of Leading Competitors
Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Global Catheter Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to * ResearchAndMarkets.com's* offering.
The Global Catheter Market reached a value of US$ 23.43 billion in 2023 and is anticipated to achieve US$ 40.76 billion by 2030, as reported. The market is expected to grow at a CAGR of 8.23% between 2024 and 2030.
The rise in chronic illnesses, particularly among the elderly, has led to an increased demand for medical interventions. Catheters have become versatile tools in managing these conditions, with a focus on their benefits. Both patients and healthcare professionals prefer minimally invasive catheter procedures for their ability to reduce complications, hasten recovery, and shorten hospitalization periods. Catheters, initially used for specialized therapies like angioplasty, stent placement, and transcatheter aortic valve replacement, have now become standard practices in cardiology. This underscores their continued significance in modern healthcare, driven by changing demographics and technological advancements, contributing to the dynamic growth of the global catheter market.
Key advancements in the catheter market include the use of advanced materials and coatings, such as antimicrobial layers, for enhanced safety. Integration of robotics, sensors, and imaging technology improves catheter performance, providing precision and real-time feedback. Innovative catheter designs, such as steerable and atraumatic models, prioritize patient comfort and minimize complications. These improvements promote safer, more effective, and minimally invasive procedures, driving increased demand for catheters. Boston Scientific's novel device for atrial fibrillation treatment, utilizing a steerable catheter and cryoablation balloon, represents significant progress in addressing common heart arrhythmias.
Transcatheter Aortic Valve Replacement (TAVR) dominates the global catheter market, with TAVR, TMVR, and TPVR being the primary types. TAVR, due to its minimally invasive approach in treating aortic valve diseases, holds the largest share in the market. The use of biological tissue in catheters is on the rise, with a focus on enhancing biocompatibility and reducing complications. Hospitals remain the dominant end-users in the global catheter market, leveraging economies of scale for stable pricing agreements.
In terms of products, the transaortic approach is expected to exhibit the fastest growth in the global catheter market, given its flexible application and minimally invasive nature. Aortic stenosis is anticipated to lead the market in terms of applications, driven by its high prevalence and the imperative need for effective treatment. The United States commands the largest share in the global catheter market due to its well-established healthcare system, significant and aging population, and investment in research and development. Key competitors in the market include:
· Abbott Laboratories
· Becton Dickinson and Company
· Boston Scientific Corporation
· Teleflex Incorporated
· Medtronic plc
· Johnson & Johnson
· Edwards Lifesciences Corporation
· Stryker Corporation
The detailed breakdown of the global catheter market includes type, material, end-user, product, application, and region, providing a comprehensive insight into the industry.
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 250
Forecast Period 2023 - 2030
Estimated Market Value (USD) in 2023 $23.43 Billion
Forecasted Market Value (USD) by 2030 $40.76 Billion
Compound Annual Growth Rate 8.2%
Regions Covered Global
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*Attachment*
· Global Catheter Market
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