Deflectable Catheters Market By Product (Uni-Directional Deflectable Catheters, Bi-Directional Deflectable Catheters, Multi-Directional Deflectable Catheters), End User (Hospitals, Office Based Clinics, Ambulatory Surgical Centers), Application (Coronary Interventions, Electrophysiology) & Region – Forecast 2019 – 2029

Deflectable Catheters Market - Key Research Findings

1. Global deflectable catheters market size in 2018 – ~ US$ 1,500 Mn.
2. The deflectable catheters market value is anticipated to grow at a CAGR of ~ 4% over 2019-2029.
3. North America is expected to remain a prominent regional market for deflectable catheters
   • Rise in the number of cardiac procedures and increase in the adoption of advanced products are among the main factors driving the growth of the deflectable catheters market in the region.
4. Leading companies present in the deflectable catheters market are focusing on expanding their geographical footprint through strategic mergers and acquisitions. Progressive distribution channels enable a more open market for companies to have an indirect presence across the world.
5. Hospitals and independent catheterisation labs offer lucrative market opportunities in the deflectable catheters market.
   • Increasing number of independent catheterisation labs across the globe is expected to significantly boost the growth of the deflectable catheters market through the forecast period.

Top 3 Factors Shaping the Deflectable Catheters Market

Growing Availability of Highly Responsive Products such as Microcatheters

Manufacturers are finding routes to discover better products to cover most of the applications. Advancing microcatheters is one of the leading prospects in development by manufacturers, which helps in the intuitive decision-making performed by healthcare professionals.

A significant number of such products are present in the research and development phase, some of which are available for use in the deflectable catheters market. Microcatheters bring out key features such as 3D navigation, mirrored torquability, and lock-to-treat mechanism. Such defining characters make it a more transparent and useful model to invest for greater financial growth.

Manufacturers Creating Value through Innovation, Thereby Achieving a Stronger Customer Base

The current leaders of the deflectable catheters market are moving to sustain premium segment leadership through each of their product offerings. The adoption rate of deflectable catheters due to their efficiency, material, and technology is increasing. However, the price difference of their product is significant as compared to other alternatives from smaller and regional manufacturers.

Creating a strong consumer base is important as the usage pattern for branded products is high in developed economies where the price is also significantly higher. This dependency upon or adoption of branded products by consumers guarantees the flow of revenue from the concerned segment for leading players.

Increase in Cases of Atrial Fibrillation, Globally

A 2013 study published in Circulation revealed that 33.5 million people around the world have Atrial Fibrillation (AFib). The number is increasing with each preceding year, and AFib accounts for over 60% of electrophysiology procedures. The supply and demand for deflectable catheters is strongly influenced by this increase, as deflectable catheters are mostly used during electrophysiology procedures.

Deflectable Catheters Market Structure Analysis

• The top four players operating in the deflectable catheters market contribute ~ 80% of the market value.
• Key players in the deflectable catheters market include JOHNSON & JOHNSON, MEDTRONIC PLC, Abbott, and Boston Scientific Corporation. Other key players in the deflectable catheters market include CathRx Ltd., Biotronik, OSYPKA AG, and others.
• Most players in the deflectable catheters market are focused on developing and enhancing their product offerings by reaching a greater patient pool. However, majority of the revenue of these companies is driven by branded deflectable catheters due to higher awareness and adoption.

Deflectable Catheters - New Strategies of MIS Paving the Way for Innovation

Innovation gains center stage among deflectable catheter manufacturers, as they focus on the uptake of minimally invasive surgeries. The need for new pacing techniques to reduce concerns with atrioventricular and intraventricular dyssynchrony, has led the development of new delivery systems that minimize the operator learning curve and enable better, long-term technical outcomes.

Market Set to Grow 1.5X between 2019 and 2029

The vitality of deflectable catheters for patients with cardiovascular ailments has led these potential alternatives to CRT undergo a broader clinical uptake. Growing number of large-scale clinical trials allude at potential of deflectable catheters to become the mainstay for patients with pacemaker implant procedures.

Developed Markets - The Topographic Point for Stakeholders

The interplay of economic & technological vigor, favorable reimbursements, and safe surgical guidelines, have significantly influenced adoption of deflectable catheters in developed markets. North America and Europe collectively account for two-third sales of the deflectable catheters. Stakeholders are focusing on the production of cost-effective deflectable catheters to leverage the potential of developing and untapped markets, where economic constraints drive greater adoption of ‘reposable’ variants.

The Broader Perspective

Frontrunners in the deflectable catheters landscape have directed their focus toward advances in product design & mechanism, to make enhancements in performance and navigation capability. Sensing the prospective shortcoming of deflectable catheters – owing to lack of comprehensive evaluation systems for development – manufacturers are inclined toward overcoming the concern through the ‘function-behavior-structure (FBS),’ approach.

How Growth Will Unfold?

As manufacturers focus on product advancements and innovation grows, the application scope of deflectable catheters is likely to broaden in the foreseeable future. Electrophysiology equipment such as electrophysiology equipment recording systems and catheters currently accounts for ~50% sales, while coronary interventions  with the use of coronary guidewires and diagnostic imaging collectively account for ~40% sales.

Key Segment

By Product

• Uni-Directional Deflectable Catheters
• Bi-Directional Deflectable Catheters
• Multi-Directional Deflectable Catheters

By End User

• Hospitals
• Office Based Clinics
• Ambulatory Surgical Centers
• Independent Catheterization Labs

By Application

• Coronary Interventions
• Electrophysiology 
• Diagnostics Imaging
• Peripheral Interventions

By Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• MEA