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According to The Business Research Company’s research report on the intravascular catheters market, the rising hospitalization rate owing to the high prevalence of chronic diseases is driving the growth of the intravascular catheters market. Globally, the prevalence of chronic illnesses and ailments is rising. Intravascular catheters are used for taking samples for tests and fluids, nutrients, and blood intake during the treatment of chronic diseases.
According to an estimation by a German healthcare company, Fresenius Medical Care, the number of people suffering from chronic kidney failure is expected to increase from 3.7 million patients in 2020 to 4.9 million by 2025. Therefore, the rising hospitalization rate owing to the high prevalence of chronic diseases is expected to propel the intravascular catheters market growth over the coming years.
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The global intravascular catheters market is expected to grow from $5.29 billion in 2021 to $5.87 billion in 2022 at a compound annual growth rate (CAGR) of 10.92%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The intravascular catheters market share is expected to grow to $9.15 billion in 2026 at a compound annual growth rate (CAGR) of 11.73%.
As per the intravascular catheters market overview, product innovations are a key trend gaining popularity in the intravascular catheters market. Major players in the intravascular catheters market are focusing on innovation of new products with advanced features to strengthen their position. For instance, in July 2022, B. Braun Medical Inc., a German-based medical and pharmaceutical device manufacturing company, introduced Introcan Safety 2 IV Catheter with one-time blood control making IV access safer for the clinician by lowering the danger of blood exposure and needle stick accidents. Furthermore, in March 2022, Shockwave Medical Inc, a firm that creates and sells medical devices, introduced the Shockwave M5+ catheter is particularly made to treat calcified lesions in the iliac, femoral, iliofemoral, popliteal, infra-popliteal, and renal arteries in the lower limbs that are otherwise difficult to treat.
Major players in the intravascular catheters market are Cook Medical, Smiths Medical, Edwards Life Sciences Corporation, Medtronic Inc, Johnson & Johnson, McKesson Medical Surgical Inc, Terumo Corporation, Abbott Laboratories Inc, Boston Scientific Corp, Getinge AB, Coloplast Corp, Cardinal Health, Conavi Medical, Infraredx Inc, BD, MAQUET Holding BV & Co KG, Vitality Medical, BBraun, Koninklijke Philips NV , Lumend Corporation, Covidien Ag, Acist Medical Systems, Biotronic SE & COKG, Biosense Webster Inc, Cordis, QX Medical and Teleflex Corporated.
The global intravascular catheters market is segmented by product into short PIVC, integrated/closed PIVC; by application into oncology, gastroenterology, renal disease, infectious diseases, other applications; by end-use into hospitals, clinics, ambulatory surgical center, homecare.
North America was the largest region in the intravascular catheters market in 2021. Asia Pacific is expected to be the fastest-growing region in the intravascular catheters market during the forecast period. The regions covered in the intravascular catheters market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Intravascular Catheters Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide intravascular catheters market forecast size and growth, intravascular catheters market segments and geographies, intravascular catheters market trends, intravascular catheters market drivers and restraints, intravascular catheters market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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