Catheters Market - By Product (Vascular Catheters, Urology Catheters, Intravenous Catheters, Specialty Catheters), By Lumen (Single-Lumen, Double-Lumen, Triple-Lumen), By End-use (Hospital, Ambulatory Surgical Centers) & Forecast, 2023 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCatheters Market Size
Catheters Market size was valued at around USD 23.1 billion in 2022 and is projected to reach over USD 54.7 billion by 2032. This incremental growth rate is owing to the increasing prevalence of cardiovascular disorders coupled with rising demand for minimally invasive surgical procedures for the diagnosis and treatment of these ailments.
According to the World Health Organization, cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. Catheters play a crucial role in diagnosing and treating cardiovascular diseases offering several advantages over traditional surgical procedures. Technological advancements in catheter products such as 3D mapping, remote monitoring, nanotechnology, and the latest catheter systems feature remote monitoring capabilities. Physicians can monitor patients' progress and device function remotely, improving post-procedure care and follow-up ensuring the best possible outcomes for patients.
Moreover, rising awareness and a favorable reimbursement scenario are anticipated to drive market growth. Catheters are available in a range of types and specialties intended to improve the quality of life for individuals with various ailments.
The catheter industry's growth is influenced by factors such as the aging population, increasing prevalence of urinary disease, advancements in medical technology, and improved awareness about various chronic diseases. Innovations in catheters and accessories focus on improving precision, safety, patient comfort, and enhanced visualization for physicians and patients. Improvements in catheter products directly impact the quality of life for patients, making this a critical consideration for both manufacturers and healthcare providers.
Affordability and insurance coverage for catheter products can impact patient access and market dynamics. Therefore, the catheter industry is witnessing a growth trajectory due to technological advancements, the aging population, and the rising incidence of chronic diseases, thereby augmenting the product demand.
Catheter is a medical equipment that is inserted into the body for therapeutic purposes or management of diseases or during a surgical procedure to facilitate the outflow of bodily fluids or mintake of medications.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Catheters Market Size in 2022 | USD 23.1 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 8.7% |
| 2032 Value Projection | USD 54.7 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 528 |
| Tables, Charts & Figures | 1,062 |
| Segments covered | Product, Lumen, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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However, the high cost associated with advanced catheters may obstruct the segment revenue. The price range for catheters can vary depending on various factors such as the brand, quality, style, and additional features. The average cost of catheterization in the U.S. ranges from USD 3,000 to USD 6,000.
Moreover, some advanced catheters, such as customizable hydrophilic coated catheters, may cost more. Furthermore, the lack of skilled surgeons in many emerging nations has been a concern. Successful examination and treatment of chronic disorders require specialized skills and training for healthcare professionals. These procedures involve using advanced medical equipment and technologies that demand precision and expertise. Thus, a shortage of skilled professionals and high costs associated with catheters may hinder business landscape.
COVID-19 Impact
When the COVID-19 pandemic hit, it dealt a blow to the catheters market in early 2020. The virus caused a surge in illnesses, putting a strain on healthcare systems worldwide. This had a ripple effect on the catheters market. Hospitals and clinics everywhere saw fewer patients seeking treatment for heart disease and other long-term conditions. The pandemic put a halt to elective and non-urgent medical procedures in many countries. This meant that catheter procedures were being delayed or postponed. On top of that, the pandemic disrupted global supply chains, making it harder to get the materials needed to make catheters. This also affected the market's growth.
Furthermore, as the number of COVID-19 cases declined in several countries across the globe, healthcare facilities resumed surgical care, resulting in increased catheterization procedures and a gradual recovery of procedural volumes to pre-pandemic levels. Thus, the COVID-19 pandemic has slightly affected the market in the shorter run; however, the declining COVID-19 infection rates & patients and rising procedural volume augmented the market expansion.
Catheters Market Trends
The increasing prevalence of cardiovascular diseases globally is one of the prime factors propelling the catheters industry progress. As per the American Heart Association, in 2020, around 19 million deaths were attributed to cardiovascular diseases across the globe. Further, it was estimated that in 2020, 244 million people were living with ischemic heart disease (IHD) worldwide. The drastic shift in behavioural risk factors such as unhealthy diet, reduced physical activity, increased tobacco use, and excessive consumption of alcohol has promoted the prevalence & mortality rate related to CVDs. The surge in cardiovascular ailments is set to drive the number of hospitalizations & medical procedures that in turn is projected to drive the adoption of catheters.
According to the Institute for Health Metrics and Evaluation (IHME), the total prevalent cases of cardiovascular diseases surged exponentially from 271 million in 1990 to more than 520 million as of 2019. Also, the associated mortalities increased from 12.1 in 1990, to 18.6 million in 2019. Similarly, the incidence of myocardial infarction, valvular disease, congenital heart disease, and other cardiac diseases in that catheters are widely used as a part of the treatment of cardiovascular disorders would drive the demand for the product.
Catheters Market Analysis
When it comes to catheters, we've got different types for different body parts. We have catheters for blood vessels (vascular catheters), catheters for pee (urology catheters), catheters for giving fluids and meds straight into veins (intravenous catheters), catheters for special needs (specialty catheters), and a few others. Among all these, the catheters for blood vessels were the biggest stars in 2022, bringing in a whopping $10.2 billion. Why? Because they're super helpful for people with long-term blood vessel problems. These vascular catheters give doctors a sneak peek into the body's plumbing system without having to go through a full-blown surgery, which is way better for the patient. No more giant cuts, less pain, and a quicker recovery. Doctors use these catheters to do all sorts of cool tricks. Like a secret camera, they can inject dye to light up blood vessels and see where they're clogged or blocked. This helps them spot problems and fix them without having to dig deep into the body. It's like solving mysteries without making a mess!
Moreover, vascular catheters can deliver medications directly to specific areas within the vascular system. This is particularly useful for localized treatment, such as chemotherapy for cancer or anticoagulants to prevent clot formation. As the catheterization procedure continues to increase, the demand for specialized vascular catheters that facilitate these procedures also increases. These catheters allow for enhanced quality of life for the patients by providing reduced complications and lower healthcare costs. Therefore, numerous benefits related to the use of vascular catheters coupled with a surge in cardiovascular ailments will drive the business revenue.
Based on lumen, the catheters market is segmented as single-lumen, double-lumen, triple-lumen, and others. The double-lumen segment accounted for the majority of market share in 2022 and was valued at around USD 9.9 billion. This significant market share is attributable to several advantages offered by double-lumen such as simultaneous access, reduced vascular puncture, and efficient drug administration among others. Double-lumen catheters can reduce the number of vascular punctures required during medical procedures. This is especially beneficial for patients with challenging or fragile veins, as it minimizes the risk of complications, pain, and discomfort associated with multiple needle sticks.
Moreover, the double-lumen catheters have the ability to provide two separate lumens within a single catheter. This enables healthcare providers to perform multiple tasks concurrently without the need for additional catheters or access points. For instance, one lumen can be used for administering medications or fluids, while the other can be used for blood sampling or pressure monitoring. While double-lumen catheters may initially cost more than single-lumen catheters, they can result in cost savings in terms of reduced catheter changes, decreased procedure time, and fewer materials needed.
Based on end-use, the catheters market is segmented into hospitals, ambulatory surgical centers (ASCs), and others. The hospital segment is projected to reach around USD 30.3 billion by 2032. This major market share is due to the surging demand for hospital settings, advanced healthcare infrastructure, and specialized healthcare professionals increasing the patient preference for hospitals. An increasing number of admissions with target disorders due to a sedentary lifestyle and growing awareness regarding the treatment of cardiovascular disorders coupled with the availability of highly skilled healthcare professionals are several other factors fuelling the demand for hospital segment.
Moreover, hospitals provide a wide array of medical services across various specialties, including cardiology, radiology, surgery, urology, critical care, and more. Catheters are essential medical devices used in many of these specialties for diagnostic and therapeutic purposes. Thus, accessibility to better diagnosis and treatment options coupled with the rising prevalence of chronic ailments and related conditions is estimated to propel the segment trends.
North America catheters market and was valued at over USD 7.6 Billion in 2022. This high market share is due to a variety of factors, including an increase in the number of patients suffering from cardiovascular disorders, the presence of significant industry players, and a growing geriatric population base, among others. North America has a strong emphasis on technological advancements, a well-established healthcare infrastructure, and a high burden of chronic diseases, that drives the demand for catheters.
Additionally, favorable reimbursement scenarios and increased healthcare spending related to permanent urinary retention and other urinary tract-related diseases will enhance the business revenue worldwide. There is a growing population of individuals who require the use of catheters to manage various chronic diseases.
The growing geriatric population in North America is adding to a rising demand for healthcare services and products, including catheters. North America has a cutting-edge healthcare infrastructure with the availability of advanced treatments and medical technologies. This includes innovative catheter products and services that are available to patients readily, contributing to the demand for these products and services. There is a growing awareness and emphasis on patient education regarding various chronic ailments.
Catheters Market Share
Some of the major players operating in the catheters market are
- Abbott Laboratories
- B Braun
- Boston Scientific Corporation
- Coloplast
- ConvaTec Inc.
- Merit Medical Systems
- Edwards Life Sciences Corporation
- Hollister Incorporated
- Johnson and Johnson
- Manfred Sauer
- Medtronic Inc.
- ICU Medical
- Stryker Corporation
- Teleflex Inc.
- CUUMed Catheter Medical Co., Ltd.
- Dentsply Sirona Inc.
These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion.
Catheters Industry Leaders
- In May 2023, Abbott received FDA approval for Tactiflex ablation catheter for treatment of abnormal heart rhythm. This catheter is designed with a unique flexible electrode tip and contact force sensing to treat patients with atrial fibrillation. This product launch will assist the company in strengthening its market presence.
- In 2022, B. Braun melsungen launched diacan flex, single-use safety catheters for peripheral vascular access as part of extracorporeal blood purification therapy. This new catheter increases patient comfort while reducing the risk of vascular and needlestick injury. This product launch aided the company to enhance its product portfolio and generate significant business revenue.
Catheters market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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By Product, 2018 - 2032 (USD Million & Units)
- Vascular catheters
- Cardiovascular catheters
- Electrophysiology catheters
- PTCA Balloon catheters
- IVUS catheters
- PTA Balloon catheters
- Others
- Neurovascular catheters
- Cardiovascular catheters
- Urology catheters
- Dialysis catheters
- Hemodialysis catheters
- Peritoneal catheters
- Urinary catheters
- Indwelling catheters
- Intermittent catheters
- External catheters
- Dialysis catheters
- Intravenous catheters
- Midline peripheral catheters
- Peripherally inserted central catheters
- Central venous catheters
- Specialty catheters
- Wound catheters
- Oximetry catheters
- Thermodilution catheters
- Others
- Others
By Lumen, 2018 - 2032 (USD Million)
- Single-lumen
- Double-lumen
- Triple-lumen
- Others
By End-use, 2018 - 2032 (USD Million)
- Hospitals
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Poland
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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