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The cardiac catheterization market is a dynamic and rapidly evolving sector within the healthcare industry. This market primarily involves the use of catheters for diagnostic and therapeutic procedures related to heart conditions. Understanding the market dynamics is crucial for stakeholders, including manufacturers, healthcare providers, and investors, to navigate the challenges and capitalize on emerging opportunities.
The growing number of heart diseases is a big reason for the growth in cardiac catheterization market. As more people get heart problems because of their way of life and older populations, there's a big need for tests and surgeries to find out what is wrong with the blood vessels like in angiography or when fixing them through angioplasty. This trend is thought to make the market grow a lot in future years.
Improvements in tools for putting things into the body have changed how markets work. New ways of making materials, designing things and taking pictures have helped make operations with tubes less hurtful and very modern. These technology improvements not only make tests more accurate, but also lower pain for patients and speed up healing times in hospitals.
Both patients and doctors alike are more likely choosing for smaller surgeries. This is causing a change from big open operations to procedures that use tubes or catheters instead. Cath-heart operation is less harmful than normal surgery. This makes recovery faster, lowers problems and helps patients feel better. This change in what people like is changing how the market looks.
The increase in healthcare spending all over the world directly affects how much is spent on cardiac catheterization. More money put into health care buildings, insurance payment rules and study research activities help the market grow. As more money is spent by governments and private groups on heart care, it becomes easier for people to get cardiac catheterization procedures without spending too much. This helps the market grow faster.
The big companies in the market have been joining together and making deals with those who make healthcare products. Buying, joining and working together helps businesses make their products better, cover more places and improve how they invent new things. These smart moves change how companies compete and affect market actions.
The market for heart catheterization has rules and approvals that are very strict. Following rules is important for businesses to make sure their products are safe and work well. Changes in rules can affect how easy it is to get into a market, the time it takes to make new products and overall changes in markets. This means that people involved need to be ready for such things.
In different areas, how things work in markets changes because of variations in healthcare setup and the spread of heart problems. Money issues also play a part. Rich areas usually use modern catheter technologies more often. Meanwhile, as health facilities get better and people learn about less invasive treatments in growing countries, they grow faster too.
Intense competition among key market players fosters innovation and the development of new products. Companies strive to differentiate themselves through technological advancements, product efficacy, and cost-effectiveness. The competitive landscape, characterized by a mix of established players and emerging entrants, plays a pivotal role in shaping market dynamics.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Procedures, Application, End-user, and Region |
Cardiac Catheterization Market Highlights:
Global Cardiac Catheterization Market Overview
Cardiac Catheterization Market Size was valued at USD 0.35 billion in 2022. The Cardiac Catheterization market industry is projected to grow from USD 0.3731 Billion in 2023 to USD 26.4 billion by 2032, exhibitinga compound annual growth rate (CAGR) of 7.4% during the forecast period (2023 - 2032).
An increased number of technologically advanced devices and increased awareness of healthcare and reimbursement policies are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
It was in February 2023 that Abbott made public the approvals of TactiFlex and FlexAbility catheters, electrophysiology products. The world’s first flexible tip, contact force sensing ablation catheter to have received CE Mark and be released into the European market for treating such patients with abnormal heart rhythms as atrial fibrillation (AFib) is TactiFlex. Also, FlexAbility ablation catheter received approval from U.S. FDA to treat patients having complex heart diseases.
In May 2022, Medtronic announced that its IN.PACT 018 PTA Balloon Catheter – a DCB meant for the interventional treatment of PAD in SFA & popliteal arteries has been given FDA approval.
Moreover, BIOTRONIK, an international medical technology company based in Germany on September 2021 extended its Fortress Reinforced Introducer Sheath line with two new additional sizes consisting of seven and eight French compatible sizes.
U.S.-based pharmaceutical firm Aytu BioPharma announced last November that it obtained a U.S. patent from the U.S. Patent and Trademark Office covering innovations with respect to Healight ultraviolet-A light-based pulmonary catheter.
The Flume Catheter Company Ltd., headquartered in UK, revealed on November this year that it had received permission from the US FDA to market FLUME catheter into US market.
Such as Medtronic launched Prevail—a new-generation drug-coated balloon (DCB) catheter—in June 2021 in the European market for CAD treatment. This DCB is used during PCI surgery as a way to unblock or widen narrowed coronary arteries in individuals suffering from CAD.
Similarly, in January 2021, Medical Manufacturing Technologies, a portfolio firm of Arcline investment management that provides medical device manufacturing solutions, integrated Biomerics R&D Engineering into its automation technologies and catheter manufacturing, expected to push growth in the industry.
Cardiac Catheterization Market Trends
A growing number of older adults are driving the market growth
One of the significant concerns in the world's emerging nations is the growing elderly population. The incidence of chronic illnesses in older people, such as aortic disease, venous thromboembolism, peripheral arterial disease, etc., is also expected to increase throughout the forecast period, driving the expansion of the catheter market.
Geriatric populations are growing unprecedentedly in the Asia Pacific, where most of them exist. One of the biggest worries in the world's emerging nations is the growing elderly population. The incidence of chronic illnesses in older people, such as aortic disease, venous thromboembolism, peripheral arterial disease, etc., is also expected to increase throughout the forecast period, driving the expansion of the catheter market CAGR.
Additionally, Minimally invasive techniques are mostly painless and need reduced hospital stays compared to traditional open heart surgery, which minimizes recovery periods as well as the cost of healthcare. These procedures are an essential component of the cardiovascular care pathway since they entail the utilization of catheters and guidewires to maneuver through the blood arteries and carry out interventions. The presence of qualified healthcare practitioners, rising consumer awareness about the advantages of minimally invasive treatments, and developments in related technology are anticipated to fuel industry growth.
Moreover, the Lubricity of catheters and guidewires is being improved by applying specific coatings, such as hydrophilic coatings. The 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 Cardiac Catheterization market revenue growth during the forecast period.
Cardiac Catheterization Market Segment Insights
Cardiac Catheterization Type Insights
Based on type, the Cardiac Catheterization market segmentation includes fractional flow reserve, optical coherence tomography, intravascular ultrasound, and coronary angiogram. The coronary angiogram dominated the market, a widely used diagnostic tool to visualize the blood flow in the coronary arteries.Moreover, it is a relatively simple and safe procedure with a low risk of complications and is widely available. It can be performed quickly, making it a cost-effective option for diagnosing coronary artery disease.
Cardiac Catheterization Procedures Insights
The Cardiac Catheterization market segmentation, based on procedures, includes catheter ablation, coronary angioplasty, bipolar pacing, balloon septostomy, right heart catheterization, left heart catheterization, and others. Catheter ablation dominated the market; catheter ablations are used in catheter ablation, angioplasty, PCI, and other interventional procedures. Catheter Ablation is used to evaluate heart muscle function, estimate the need for further treatment, and evaluate the presence of valve disease & coronary artery disease.
Cardiac Catheterization Application Insights
Based on application, the Cardiac Catheterization market segmentation includes heart attack, cardiac arrhythmia, coronary vasospasm, abnormal stress test, and others. Heart attack dominates the market;the prevalence is due to the high incidence of heart attacks ly, which is expected to drive the growth of the cardiac catheterization market.
Cardiac Catheterization End-user Insights
Based on end-user, the Cardiac Catheterization market segmentation includes hospitals, clinics, and others. The hospitals dominated the market; due to the high incidence of cardiovascular diseases ly, the rising number of hospitals across the globe is also anticipated to support the segment growth over the forecast period.
Figure 1 Cardiac Catheterization Market, by End-user, 2022 &2032 (USD billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cardiac Catheterization Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American cardiac catheterization market will dominate due to the increased adoption of cardiac catheters and guidewire technology in primary care settings, improved accessibility, and high healthcare spending in countries with efficient reimbursement policies will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 CARDIAC CATHETERIZATION MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Cardiac Catheterization market accounts for the second-largest market share due to technological innovations and the growing incidence of chronic conditions is anticipated to propel the Region's growth. Further, the German Cardiac Catheterization market held the largest market share, and the UK Cardiac Catheterization market was the fastest-growing market in the European Region
The Asia-Pacific Cardiac Catheterization Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because the rising prevalence of cardiac diseases has created a demand for cardiac catheters & guidewires equipment in this Region. Moreover, China’s Cardiac Catheterization market held the largest market share, and the Indian Cardiac Catheterization market was the fastest-growing market in the Asia-Pacific region.
Cardiac Catheterization Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Cardiac Catheterization market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The cardiac catheterization industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Cardiac Catheterization industry to benefit clients and increase the market sector. In recent years, the Cardiac Catheterization industry has offered some of the most significant advantages to medicine. Major players in the Cardiac Catheterization market, including Boston Scientific Corporation (US), Coloplast (Denmark), Dispocard GmbH (Germany), Becton, Dickinson and Company (US), St. Jude Medical (US), Abbott (US), Johnson & Johnson Private Limited (US), Teleflex Incorporated (US)., Smiths Medical (US), Edwards Life Sciences Corporation (US), Medtronic Inc (US), Rochester Medical Corporation (US), Maquet Medical India Private Limited (India), Terumo Medical Corporation (Japan), and others, are attempting to increase market demand by investing in research and development operations.
Koninklijke Philips N.V., commonly shortened to Philips, is a Dutch multinational conglomerate corporation founded in Eindhoven in 1891. Since 1997, it has been mostly headquartered in Amsterdam, though the Benelux headquarters is still in Eindhoven. Royal Philips, a leading health technology company, introduced the first solid core pressure wire in the world for coronary artery interventional procedures, named OmniWire. The new ground-breaking product will enable physicians to easily maneuver the wire in the patient's circulatory system for measuring blood pressure and vessels, along with guiding the delivery of stents and catheters.
Johnson & Johnson is the world's largest and most broadly based healthcare company. We've been producing life-changing breakthroughs every day for the last 130 years. The combination of new technologies and your expertise enables amazing things to happen. Those working in medical devices are 3-D printing artificial joints personalized for each patient, while pharmaceutical researchers use AI to discover lifesaving drugs. Imagine what the rest of our team of 134,000 people at 260 companies in more than 60 countries is accomplishing.Johnson & Johnson Medical Devices has announced that Biosense Webster’s QDot Micro radiofrequency ablation catheter received European CE mark approval.
Key Companies in the cardiac catheterization market include
- Jude Medical (US)
- Medtronic Inc. (US)
- Becton, Dickinson, and Company (US)
- Terumo Medical Corporation (Japan)
- Teleflex Incorporated (US)
- Edwards Life Sciences Corporation (US)
- Abbott (US)
- Boston Scientific Corporation (US)
- Rochester Medical Corporation (US)
- Johnson & Johnson Private Limited (US)
- Dispocard GmbH (Germany)
- Maquet Medical India Private Limited (India)
- Coloplast (Denmark)
Cardiac Catheterization Industry Developments
August 2020: Royal Philips, a leading health technology company, introduced the world's first solid core pressure wire for coronary artery interventional procedures, named OmniWire. The new ground-breaking product will likely enable physicians to easily maneuver the wire in the patient's circulatory system for measuring blood pressure and vessels, along with guiding the delivery of stents and catheters.
August 2020: Johnson & Johnson Medical Devices has announced that Biosense Webster’s QDot Micro radiofrequency ablation catheter received European CE mark approval.
Cardiac Catheterization Market Segmentation
Cardiac catheterization Type Outlook
- Fractional Flow Reserve
- Optical Coherence Tomography
- Intravascular Ultrasound
- Coronary Angiogram
Cardiac Catheterization Procedures Outlook
- Catheter Ablation
- Coronary Angioplasty
- Bipolar Pacing
- Balloon septostomy
- Right Heart Catheterization
- Left Heart Catheterization
- Others
Cardiac Catheterization Application Outlook
- Heart Attack
- Cardiac Arrhythmia
- Coronary Vasospasm
- Abnormal Stress Test
- Others
Cardiac catheterization End-user Outlook
- Hospitals
- Clinics
- Others
Cardiac Catheterization Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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