Wilmington, Delaware, United States, March 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global Cardiac Catheters & Guidewires Market size was valued at US$ 14.0 Bn in 2022 and is expected to be more than US$ 27.9 Bn by 2031. The global market is likely to expand at a CAGR of 7.9% between 2023 and 2031. Demand for minimally invasive treatments is likely to increase, and technical developments in catheterization and guidewire technology would contribute to market development. The cardiac catheters and guidewires industry is anticipated to expand steadily in the near future. Increase in cardiovascular disease incidence is likely to boost adoption of cardiac catheters and guidewires.
One of the major market trends is the move toward less invasive treatments. Fewer complications, faster recovery periods, and less discomfort are just a few benefits that minimally invasive techniques have over open surgery. Catheterization procedures with robotic assistance are also becoming more popular. Robotic-assisted operations offer high levels of accuracy and precision, which is expected to enhance effectiveness of the process.
The catheter is guided by a guidewire, which enables accurate vessel-to-vessel navigation. When compared to open-heart surgery, use of cardiac catheters and guidewires results in a shorter recovery period and fewer complications. Cardiac catheterization operations are becoming safer and more efficient due to technological advancements. They are improving the outcome for patients suffering from different heart problems. Cardiac catheters and guidewires are often employed while treating structural heart disease, peripheral artery disease, and coronary artery disease. Congenital cardiac abnormalities and heart valve diseases are also diagnosed and treated using these devices.
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Key Findings of Market Report
- It is anticipated that the cardiac catheters segment would lead the global industry in terms of product type, from 2023 to 2031. The segment held a market share of around 80.0% in 2022. Increasing incidences of cardiovascular disorders, aging population, and high demand for minimally invasive procedures are expected to drive business growth of the segment. Moreover, more advanced cardiac catheters have been developed as a result of technological breakthroughs. This factor is expected to drive market development in the near future.
Global Cardiac Catheters & Guidewires Market: Growth Drivers
- Cardiovascular diseases (CVDs) are the top contributors of mortality and morbidity across the globe. The World Health Organization (WHO) estimates that 17.9 million fatalities per year are caused by CVDs, which cause 31% of all deaths worldwide. According to the American Heart Association, one in every three fatalities in the country are caused by CVDs. Likelihood of CVDs increases as a result of lifestyle changes, including bad eating habits, inactivity, and smoking. The risk of CVDs is higher in older adults. As a result, the market for cardiac catheters and guidewires is projected to develop as the senior population and the prevalence of CVDs both rises.
- Minimally invasive techniques are mostly painless and need reduced hospital stays compared to traditional open heart surgery, which minimize recovery periods as well as cost of healthcare. These procedures are an essential component of the cardiovascular care pathway since they entail utilization of catheters and guidewires to maneuver through the blood arteries and carry out interventions. Presence of qualified healthcare practitioners, rising consumer awareness about advantages of minimally invasive treatments, and developments in related technology are anticipated to fuel industry growth.
- Lubricity of catheters and guidewires is being improved through application of specific coatings, such as hydrophilic coatings. Precision of these devices is thus enhanced and navigational friction is also reduced. Robotics and 3D imaging technology are making it possible to implant catheters and guidewires more precisely, lowering the likelihood of problems and improving patient outcomes. These developments are anticipated to propel the growth of the global Cardiac Catheters & Guidewires Market during the forecast period.
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Global Cardiac Catheters & Guidewires Market: Regional Landscape
- North America is anticipated to account for major global market share between 2023 and 2031. Increasing occurrence of cardiovascular illnesses, growing use of minimally invasive procedures, and availability of a sophisticated healthcare system is likely to raise market demand. Heart disease is the number one killer in the U.S., based on the Centers for Disease Control and Prevention (CDC) reports. Every year, it causes over 650,000 fatalities in the country, which is expected to propel the market in the region.
Global Cardiac Catheters & Guidewires Market: Key Players
- BrosMed Medical Co., Ltd.
- Johnson & Johnson
- Boston Scientific Corporation
- Teleflex Incorporated
- Cardinal Health, Inc.
- B. Braun SE
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Global Cardiac Catheters & Guidewires Market: Segmentation
Product Type
- Cardiac Catheters
- Cardiac Guidewires
End-user
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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