Catheter Systems Market

Catheter Systems Market Overview

Global catheter systems market is expected to be valued at US$ 18.8 Bn in 2022, and is forecasted to grow at a CAGR of 8.4% to be valued at US$ 42.5 Bn from 2022 to 2032.

The growing demand for minimally invasive procedures for target patients against the conventional surgery process is primarily driving the electrophysiology catheters used in hospitals. Atrial fabrication (AF) cases observed among the geriatric population promise a growing market of catheter systems during the forecast period.

The presence of a robust health care system is a prerequisite for the sales of catheter systems in any region. A facility available in a well-established medical system provides the necessary impetus for the use and growth of demand for catheter systems market.

Interestingly, the catheter systems market in the developing economies of North America and Europe is getting saturated day by day as per the analysis of the market report. On the other hand, the demand for catheter systems is growing in the Asia Pacific and Middle East Economies by the strong intervention of government organizations and insurance companies.

What are the Major Factors Driving the Growth of the Catheter Systems Market?

The rising incidences of diabetes and continuously growing geriatric population, cardiovascular diseases, renal failure are driving the growth of the global catheter systems market. The advancements in the healthcare sector have significantly adopted a patient preference for minimally invasive interventions rather than traditional methods and have raised the demand for catheter systems.

Furthermore, the increase in the number of minimally invasive surgeries for monitoring, diagnostic, and operational purpose has also increased the demand for catheter systems. An increase in research activities additionally propelled by heavy investments in the healthcare industry is further contributing to the new growth opportunities for the sales of catheter systems in new geographical regions.

However, the shortage of skilled healthcare professionals might restrict the growth in demand for catheter systems. Also, healthcare professionals are occasionally faced with complex technical postoperative problems that can be described as very painful or discomforting by the patient. This might also reduce the demand for catheter systems market.

Furthermore, the high cost associated with the surgeries can also hamper the market growth of catheter systems market. Cost depression in maximum products is a significant factor for the healthcare industry, promising other new competitive positioning and a rise in sales of catheter systems.

Reimbursements for the interventional procedure are available in most developed countries, additionally shifting the development to emerging countries with promising healthcare facilities. This is expected to contribute to the growth of catheter systems market share in the healthcare sector.

Sabyasachi Ghosh

Principal Consultant

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Which Geographical Regions have Better Growth Opportunities for the Catheter Systems Market Growth?

North America catheter systems market share is the dominant portion of the global catheter systems market due to high disease awareness levels, quick access to healthcare facilities, and significant technological advancements in this region. Increasing product penetration of urinary catheter systems in the emerging markets, a growing number of medical practitioners, and improving healthcare infrastructure are expected to propel robust industry growth in the South Asia region catheter systems market.

Furthermore, the growing disposable income combined with growing patient awareness will further fuel the demand for catheter systems. However, the Middle East and Africa Catheter Systems market and the Latin America Catheter Systems market are expected to show a slower growth compared to other regions.

What is the Competitive Landscape for the Global Catheter Systems Market?

The major market players having occupying most of the catheter systems market share include Freudenberg Medical, Creganna, Becton, Dickinson and Company, Coloplast A/S, Smiths Group plc (Smiths Medical), B. Braun Melsungen AG, Terumo Corporation, Medtronic plc, Cook Medical, and others.

Becton, Dickinson, and Company of US is the leading player in the intravenous market, holding the major portion of the catheter systems market share of North America and beyond. This company continues its leading position in the number of sales of catheter systems by investing largely in research and development.

Recent Developments in the Catheters System Market

• Boston Scientific Corporation acquired BTG plc of UK in 2019 for providing minimally invasive procedures to cancer and vascular diseases patients in Europe. This major expansion is targeted towards specialty pharmaceuticals and sales of catheter systems as well.
• A major development was achieved by Medtronic in 2019 when it successfully launched its Telescope Guide Extension Catheter. This recent development is expected to take the demand for catheter systems to new heights.
• The Becton, Dickinson, and Company (BD) acquired TVA Medical, Inc., of USA in 2018 and strengthened its portfolio by increasing its catheter systems market share. 

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