Pune India, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the cardiac catheter market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the cardiac catheter market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, end-user, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global cardiac catheters market are Abbott, BBRAUN, Terumo, Teleflex, C. R. Bard, Boston Scientific, Edwards, Medtronic, Lepu, Cook, Osypka AG, Microport, Biotronik, Cordis(Cardinal health), Merit Medical, St.Jude Medical, BALT, SCW Medicath, Japan Lifeline, ACT among other. To achieve a substantial market share in the worldwide Cardiac Catheters Market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Long, thin tubes called cardiac catheters are introduced into the heart through an artery or vein. They are applied to both identify and treat different cardiac diseases. A cardiac catheter is inserted into the heart during a cardiac catheterization procedure through an incision in the leg or arm. Heart catheterization or cardiac cath are other names for the operation. It is a therapeutic and diagnostic process used to assess and manage heart problems. Due to the rising prevalence of cardiovascular, neurologic, and urological problems; the growing use of minimally invasive treatments; and the rising need for antimicrobial catheters, the market is anticipated to experience healthy expansion. Globally, increasing chronic diseases are now the main cause of mortality and morbidity. The Brain Aneurysm Foundation reported in March 2021 that roughly 500,000 deaths worldwide are attributed to brain aneurysms each year, with half of those victims being 50 years of age or younger. Around 8–10 per 100,000 persons or about 30,000 people, in the United States, experience a rupture each year. The need for neurovascular catheter devices is therefore expected to increase along with the prevalence of neurovascular illnesses.
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Scope of Cardiac Catheters Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Type, End-Userand Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Abbott, BBRAUN, Terumo, Teleflex, C. R. Bard, Boston Scientific, Edwards, Medtronic, Lepu, Cook, Osypka AG, Microport, Biotronik, Cordis(Cardinal health), Merit Medical, St.Jude Medical, BALT, SCW Medicath, Japan Lifeline, ACT among other |
Segmentation Analysis
The IVUS catheters segment is expected to be the fastest-growing segment in 2022.
The type segment is electrophysiology catheters, IVUS catheters, PTA balloons catheters, PTCA balloons catheters, and others. The IVUS catheters segment is expected to witness the highest growth rate during the forecast period. To view inside blood vessels, a catheter-based imaging technique known as intravascular ultrasonography (IVUS) is employed. The vessel walls may be seen in high-resolution cross-sectional pictures using IVUS, which can be used to measure the vessels' size, assess the amount of plaque present, and spot lesions. IVUS is the gold standard for determining the length and diameter of coronary artery lesions. Additionally, IVUS is used to guide percutaneous coronary treatments including stenting and atherectomy.
The hospitals segment is expected to be the fastest-growing segment in 2022.
The end-user segment is clinics, public ambulatory surgical centers, hospitals, and others. The hospitals segment is expected to witness the highest growth rate during the forecast period. Because cardiovascular diseases are extremely common. For instance, a report published in 2018 by the Centers for Disease Control & Prevention (CDC) found that the most common type of cardiovascular disease, coronary heart disease, causes more than 370,000 deaths yearly in the United States. In addition, it mentioned that around 735,000 Americans suffer from heart attacks annually. An increase in cases of these illnesses is projected to increase the hospital admission rate because angioplasty, PCI, and cardiac catheterization are frequently used to treat these problems.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for cardiac catheters include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The North America region witnessed a major share. The US is expected to dominate the market due to substantial government investment in medical equipment and an increase in surgical operations. The growth in urological and cardiovascular issues, as well as the demand for minimally invasive procedures due to their quicker recovery times and decreased risk of complications, are additional factors impacting the market expansion. According to the American Cancer Society, there will be about 81,180 new bladder cancer cases in Americans in 2022. The increased use of catheters during the treatment of bladder cancer as a result of this will accelerate market expansion in this area.
Country Analysis
- Germany
Germany's cardiac catheters market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.19 billion by 2030, at a CAGR of 2.4% from 2023 to 2030. Due to the high expense of healthcare, favorable reimbursement practices, and the increasing prevalence of cardiovascular diseases & disorders. Furthermore, it is projected that the presence of significant firms that use cutting-edge technology would stimulate growth during the forecast period.
- China
China’s cardiac catheters market size was valued at USD 0.35 billion in 2022 and is expected to reach USD 0.47 billion by 2030, at a CAGR of 3.9% from 2023 to 2030. A rise in the older population and better economic conditions, will enhance disposable income and drive up demand for cardiac catheters and other medical equipment in general. An increase in the number of hospitals and clinics that specialize in cardiovascular care as well as more awareness of the significance of heart health are additional factors impacting the growth of the regional market.
- India
India's cardiac catheter market size was valued at USD 0.31 billion in 2022 and is expected to reach USD 0.40 billion by 2030, at a CAGR of 3.4% from 2023 to 2030. Due to the burgeoning heart disease patient population and expanding economies. The government's initiative to modernize the healthcare system will also benefit the sector.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the Cardiac Catheters Market is mainly driven owing to the rising rise in cardiovascular diseases.
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