Cardiac Catheter Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[217+ Pages Report] According to Facts and Factors, the global cardiac catheter market size was around USD 13.29 billion in 2022 and is anticipated to reach USD 24.38 billion by the end of 2030. The cardiac catheter industry is expected to grow with a CAGR of 7.88% between 2023 and 2030.

Market Overview

The cardiac catheter is referred to as a medical device that is used to treat and diagnose various cardiovascular conditions. It is a thin tube made up of clinically approved materials that is inserted into the blood vessels to perform diagnostic and therapeutic procedures. These catheters are commonly used for diagnostic purposes. It helps the professionals visualize coronary arteries, measure pressures, and access the blood flows using contrast X-rays.

Moreover, it also helps in various surgical procedures like angioplasty to keep the artery open. There are different kinds of cardiac catheters available in the market designed for different purposes. Professionals can opt for any according to their requirements.

Key Insights

• As per the analysis shared by our research analyst, the global cardiac catheter market size is estimated to grow annually at a CAGR of around 7.88% over the forecast period (2023-2030).
• In terms of revenue, the global cardiac catheter market size was valued at around USD 13.29 billion in 2022 and is projected to reach USD 24.38 billion by 2030.
• Increasing prevalence of cardiovascular diseases is driving the growth of the global cardiac catheter market.
• Based on the product, the cardiac catheter segment is growing at a high rate and is projected to dominate the global market.
• Based on the end user, the hospital segment is projected to swipe the largest market share.
•  Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Increasing prevalence of cardiovascular diseases is a leading factor driving the growth of the global market.

The rising incidences of cardiovascular diseases like arrhythmias, heart failure, coronary artery disease, and some others are likely to encourage the growth of the global cardiac catheter market during the forecast period. Furthermore, the constantly growing aging population and lifestyle changes are further posing a higher requirement for diagnostic procedures.

Also, the companies are coming up with more minimal and sophisticated catheter design, which is likely to play a crucial role in the growth of the market. Companies are investing heavily in research and development activities to come up with better navigation systems, enhance imaging capabilities, smaller profiles, and improve materials in the cardiac catheters, which is further likely to make the procedures more efficient and safer, thereby boosting their demand in the market.

For instance, Aytu Biopharma was granted a US patent from the US patent and trademark office in November 2021 for the headlight ultraviolet A light-based pulmonary catheter. Aytu is a US-based company operating in the pharmaceutical business.

Restraints

• Competitive pricing is likely to restrain the growth of the global market.

The market is quite competitive because of the presence of a number of small and big manufacturers. Therefore, it leads to competitive pricing pressures in the market, which in turn is likely to impact the profit margins of the manufacturers negatively.

Also, insufficient reimbursement policies will affect the adoption of cardiac catheter procedures, and thereby it is likely to slow down the growth trajectory of the cardiac catheter industry.

Opportunities

• Awareness and education are likely to foster growth opportunities in the global market.

There is a significant growth in awareness among patients and healthcare professionals regarding the availability of advanced heart health treatments. Also, an increasing number of patients are now relying on early diagnosis and intervention processes, which is expected to foster new opportunities in the cardiac catheter market.

Challenges

• Risk of complications is a big challenge in the global market.

Cardiac catheterization procedures can have certain risks to human health. However, it is a minimally invasive process that does not have any major side effects. Still, certain complications like excessive bleeding, infection, or vessel damage restrict people from opting for catheterization procedures.

Therefore, it is expected to be a big challenge in the global cardiac catheter industry in the coming years. For instance, BIOTRONIK, a Germany-based company, revealed a new product line in September 2021 that extends the sizes of Fortress reinforced introducer by coming up with 7 and 8-F compatible sizes.

Segmentation Analysis

The global cardiac catheter market can be segmented into product, end-user, and region.

On the basis of product, the market can be segmented into PTA balloon catheters, IVUS catheters, PTCA balloon catheters, electrophysiology catheters, and others. The PTCA (percutaneous transluminal coronary angioplasty) balloon segment accounts for the largest share of the global market. These are used to widen the blocked or narrowed coronary arteries. It is a minimally invasive procedure used in the treatment of heart-related illnesses across the world.

Patients all around the globe are opting for less invasive open heart surgery, which is anticipated to increase the demand for PTCA balloons in the market. It also aids in the proper circulation of blood to heart muscles. The incidence of coronary artery disease (CAD) is further expected to widen the scope of the segment.

Angioplasty is the only effective treatment available for CAD, and these balloons play a vital role in the angioplasty procedure. The constant innovations in material and design utilized in PTCA balloons led to enhanced efficacy, which is also likely to solidify the position of the segment in the global marketplace. PTCA balloons come in different sizes with unique features that align with patient needs and clinical scenarios.

On the basis of end users, the cardiac catheter industry can be segmented into ambulatory surgical centers, clinics, hospitals, and others. The hospital segment is projected to register a notable growth in the forthcoming years. The increasing incidences of cardiovascular diseases are one of the major reasons for the growth of the segment.

Moreover, the growing population is posing a high demand for healthcare services, and therefore, big companies and governments are coming up with a number of advanced hospital care. Furthermore, the hospitals are continuously undergoing technological advancements and also adopting advanced medical technology, which in turn is increasing the faith of people in the hospital service.

However, such a landscape is further expected to foster developments in this segment. Also, the ambulatory surgical segment is expected to grow with a high CAGR over the forecast period because of the growing awareness among people regarding the facility of ambulatory surgery, which is often chosen by patients who involve less complicated surgery and only require a short hospital stay.

Report Scope

Regional Analysis

• North America to dominate the global market during the projection period.

North America is likely to swipe the largest share of the global cardiac catheter market in the forthcoming years because of various factors like the high prevalence of cardiovascular diseases, the aging population, and several others. Cardiovascular diseases like heart failure and coronary artery disease are likely to be the primary cause of mortality in the region.

Therefore, there is an increasing demand for urgent interventional and diagnostic procedures with the help of cardiac catheters. The region is considered to be the hub for the developments and innovations in the medical device field. Therefore, the continual focus on developing advanced catheters in the region is further expected to foster developments in the market.

Asia Pacific is likely to further grow steadily in the cardiac catheter industry in the forthcoming years. The advancements in the healthcare infrastructure in the region are one of the major factors driving the growth of the regional market. Also, one of the primary causes of the high mortality rate in the region is cardiovascular disease.

Therefore, the government is making efforts to address this public health concern by coming up with reimbursement policies and advanced hospital services, which are further expected to contribute heavily towards the growth of the regional market during the anticipated period.

Europe is also anticipated to grow with a high CAGR during the forecast period because of the presence of well-established healthcare infrastructure in the region. Moreover, the advancements in technology and the continuous research and development activities to improve cardiac catheter technology are further likely to propel the growth of the regional market.

For instance, The Flume Catheter Company Ltd., in November 2021, was granted permission to market their product in the US. Flume is a UK-based company trying to expand their market in the US.

Competitive Analysis

The key players in the global cardiac catheter market include:

• Medtronic 
• Boston Scientific 
• Abbott Laboratories 
• Johnson & Johnson (Cordis) 
• Terumo Corporation 
• B. Braun Melsungen AG 
• Merit Medical Systems 
• Cook Medical 
• MicroPort Scientific Corporation 
• Integer Holdings Corporation 
• Teleflex Incorporated 
• AngioDynamics 

For instance, Medtronic launched the Telescope Guide Extension Catheter in May 2019 to help in complicated coronary cases. The product inspects distal lesions and creates backup support.

The global cardiac catheter market is segmented as follows:

By Product Segment Analysis

• Cardiac Guidewires
• Cardiac Catheters

By End User Segment Analysis

• Ambulatory Surgical Centers
• Clinics
• Hospitals
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America