Cardiovascular Catheters Market size is set to grow by USD 7.6 billion from 2024-2028, Rising incidence of cardiac diseases and growth of insurance providers boost the market, AI Role and Impact, Technavio

NEW YORK, Aug. 22, 2024 /PRNewswire/ -- The global cardiovascular catheters market size is estimated to grow by USD 7.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.13%  during the forecast period. Rising incidence of cardiac diseases and growth of insurance providers is driving market growth, with a trend towards business strategies to emerge in the market. However, high cost of cardiovascular procedures  poses a challenge. Key market players include Abbott Laboratories, B.Braun SE, Becton Dickinson and Co., BIOTRONIK SE and Co. KG, Boston Scientific Corp., Cardinal Health Inc., CardioFocus Inc., Cardionovum GmbH, CathRx Pty Ltd., Cook Group Inc., Edwards Lifesciences Corp., Getinge AB, Innovative Cardiovascular Solutions LLC, Johnson and Johnson Services Inc., LivaNova PLC, Medtronic Plc, Merit Medical Systems Inc., MicroPort Scientific Corp., Terumo Corp., and ZOLL Medical Corp..

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Market Driver

Stryker's Sustainability Solutions department reprocesses and sells sterilized single-use cardiovascular catheters, including diagnostic and therapeutic ones, reducing hospital costs and offering cost savings for patients. Reprocessed catheters, such as those from St. Jude Medical's Agilis NxT line, undergo rigorous processing to ensure safety. Partnerships between medical device companies and pharmaceutical firms can lead to innovative product development, like combined catheter-pharmaceutical solutions, and the increasing number of such collaborations will drive market growth in the cardiovascular catheters industry. 

The Cardiovascular Devices industry is witnessing significant growth due to increasing prevalence of cardiovascular diseases (CVDs) and urological conditions. Patients and physicians are focusing on quality care, patient education, and affordable solutions. Urinary catheters, including single-lumen and triple-lumen, are in high demand for urinary tract-related diseases and permanent urinary retention. Specialty catheters, such as urology catheters, are essential for urological procedures. Reimbursement policies and scenarios are crucial for the market's growth. Remote monitoring technologies and training for skilled surgeons are key trends. Advanced cardiovascular catheters, like those used in Angioplasty and Cardiac catheterization, offer additional features like 3D mapping and valvular disease diagnosis. Technologies for arrhythmia and biomerics are also gaining popularity. Sedentary lifestyle and blocked arteries increase the need for vascular catheters. Affordability and specialized skills remain challenges. Brands like Biomerics continue to innovate, offering therapeutic purposes and triple-lumen catheters for better patient outcomes. 

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Market Challenges

• The Cardiovascular Catheters Market is significantly influenced by the high cost of various procedures and devices. For instance, the cost of angioplasty procedures, such as PCI, which includes angioplasty balloon catheters, stents, and embolic protection devices, can be quite substantial. The estimated cost for stenting ranges between USD12,000 and USD38,000, with stents costing around USD2,000-USD4,000 and DEB costing between USD8,500 and USD11,000 in the US. However, limited reimbursement for these devices can restrict people from undergoing stenting, leading them to opt for alternatives like therapeutic drugs for treating embolisms. Similarly, the high cost of advanced medical imaging, such as PET/CT, can hinder market growth. The cost of a CT scanner ranges from USD65,000-USD132,500, and an angiogram based on imaging modality can cost from USD1,100-USD4,500. The high cost of imaging modalities or images of angiography and ablation can impact adoption negatively. Furthermore, the high cost of cardiac ablation procedures, which ranges between USD17,400 and USD23,000 in developed countries, can increase the cost burden on patients. The growing preference towards robot-assisted cardiovascular procedures can also increase the cost burden on end-users such as hospitals, ASCs, and clinics. To mitigate these costs, hospitals are focusing on reducing the procurement of advanced devices. However, the shortage of skilled professionals in certain countries, such as the US, necessitates the use of robotic platforms to increase procedural precision, further increasing the cost burden on end-users. Additionally, the high cost of advanced imaging modalities, such as 3D and 4D views of angiography procedures, can increase the economic burden, negatively impacting the adoption of these procedures during the forecast period.
• The Cardiovascular Catheters Market faces several challenges in the Cardiovascular Diseases (CVDs) industry. One challenge is the integration of advanced features like 3D mapping and additional lumens in catheters, which can increase affordability. Angioplasty and Coronary Heart Disease treatments require specialized catheters, but healthcare spending and insurance coverage limit access. Arrhythmia and other cardiac diseases, as well as chronic disorders and congenital heart disease, require various catheter systems. Gastrointestinal and Ophthalmic ailments also use catheters. Healthcare providers must navigate the complex landscape of medical procedures, medications, and bodily fluids. Brands like Biomerics and Medical Manufacturing Technologies leverage nanotechnology to improve catheter performance. Affordability, mortality rate reduction, and patient safety remain key concerns. Catheters for Cardiac catheterization, Coronary angiography, and other medical procedures must balance cost, effectiveness, and patient comfort.

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Segment Overview 

This cardiovascular catheters market report extensively covers market segmentation by  

1. Product 
• 1.1 Cardiovascular therapeutic catheters
• 1.2 Cardiovascular diagnostic catheters
2. End-user 
• 2.1 Hospitals
• 2.2 Ambulatory surgical centers
• 2.3 Clinics
3. Geography 
• 3.1 Asia
• 3.2 North America
• 3.3 Europe
• 3.4 Rest of World (ROW)

1.1 Cardiovascular therapeutic catheters-  The global cardiovascular catheters market encompasses various segments, including conventional catheters, drug-eluting balloon (DEB) catheters, cutting balloon catheters, scoring balloon catheters, and cardiac ablation catheters. Traditional balloon catheters, known as conventional catheters, are used for angiography procedures. DEB catheters, coated with antiproliferative drugs, are increasingly popular for peripheral artery disease treatment. Cutting balloon catheters are prescribed for coronary artery stenosis dilation, while scoring balloon catheters are used for complex lesions and restenosis. Cardiac ablation catheters are employed for treating abnormal heart rhythms. The market's growth is driven by the rising number of angiography procedures to prevent heart attacks and strokes. Conventional and scoring balloon catheters are in moderate demand due to this trend. The DEB catheters market is experiencing significant growth due to the increasing number of stenosis procedures. However, the demand for scoring balloon catheters is decreasing, prompting companies to focus on conventional and DEB catheters, conducting clinical research to innovate. Apart from angiography procedures, cardiovascular catheters are also gaining adoption for ablation. The increasing number of arrhythmia cases is fueling the demand for cardiac ablation catheters. However, market growth may be hindered by product recalls and the rising cost of cardiac catheterization procedures. Major players like Boston Scientific and BD are developing next-generation DEBs using advanced coating technology. For instance, Boston Scientific's TransPax coating technology combines paclitaxel and a citrate ester excipient for targeted drug delivery. AngioScore's Drug-Coated AngioSculpt scoring balloon catheter achieves predictable luminal expansion, reducing dissection and increasing demand for angioplasty procedures. Such advancements will propel the market's growth during the forecast period.

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Research Analysis

The global cardiovascular catheters market is witnessing significant growth due to the increasing prevalence of cardiovascular diseases (CVDs) such as Coronary Heart Disease and Stroke. These medical conditions require diagnostic and therapeutic interventions, driving the demand for advanced catheter systems. Catheters are used in various medical fields including urology, gastrointestinal tract, nervous system, and urinary catheters for bladder issues. Chronic illnesses and aging populations further fuel the market growth. Various governments & organizations are investing in research and development to combat chronic diseases, leading to innovations like 3D mapping, remote monitoring, and nanotechnology in catheter systems. Physicians and patients benefit from these advancements, with procedures like coronary angiography, angioplasty, and cardiovascular disorders treatment becoming more precise and effective. The market is expected to continue growing as the need for minimally invasive procedures increases.

Market Research Overview

The Cardiovascular Catheters Market encompasses a range of medical devices used in the diagnosis and treatment of cardiovascular diseases (CVDs) and other medical conditions. These catheters, available in single-lumen, double-lumen, and triple-lumen configurations, are utilized in various medical procedures such as Angioplasty, Coronary angiography, and Cardiac catheterization. The market is witnessing significant growth due to the increasing prevalence of chronic diseases and disorders like cardiovascular diseases, arrhythmia, and congenital heart disease. The integration of advanced technologies like 3D mapping, nanotechnology, and remote monitoring, along with additional features, is enhancing the efficiency and affordability of these catheters. Healthcare providers and healthcare professionals are increasingly relying on these catheters for therapeutic purposes, including the treatment of blocked arteries, valvular disease, and urinary catheters for urinary tract-related diseases. The market is also influenced by factors such as insurance coverage, reimbursement policies, and healthcare spending. The demand for specialized skills and skilled surgeons in the cardiovascular devices industry is driving the need for specialized catheters. The market also caters to various medical procedures in different fields, including the Gastrointestinal tract, Nervous system, Ophthalmic ailments, and Urology. The use of these catheters in surgical procedures and medical procedures is expected to continue growing, driven by patient education, mortality rate reduction, and the increasing prevalence of sedentary lifestyles. Medical Manufacturing Technologies and other key players are investing in research and development to introduce innovative catheter systems and improve the quality of existing ones.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Cardiovascular Therapeutic Catheters
• Cardiovascular Diagnostic Catheters
• End-user
• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Geography
• Asia
• North America
• Europe
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio