Catheter Market by product type (Neurovascular Catheter, Cardiovascular Catheter, Intravenous Catheter, Urology Catheter and Speciality Catheter), By Lumen (Single Lumen, Double lumen and triple Lumen), By Sales Channel (Online and offline), By End User (Hospitals & Clinics, Specialty Centers, Ambulatory Surgical Centers (ASCs) and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26

Published:
May 2020
Report Code:
BWC2071
Available Format:
PDF PDF Icon
Pages:
169
COVID-19

We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at

Contact Now

Global Catheter Market Size- Industry Trends & Forecast Report 2026

The global market of Catheter witness market size of USD 39.9 Billion in 2019 and projected to reach market size of USD 74.3 Billion at a CAGR of 9.32% during the forecast period of 2020-2026. The market is majorly driven by the growth in the target patient population and the rising focus on minimally invasive surgical procedures over conventional surgery. In addition, rising incidences of cardiovascular diseases, urinary related disorders, cancer, kidney failure, and others triggering market growth.

Furthermore, technological advancement in catheterization procedures, significant increase in incontinence problems in geriatric population, rising demand for sterile and disposable catheters, and demand for minimal invasive surgical procedures coupled with funding by various government organization and medical device manufacturing companies propel the growth of Catheters market. Approximately, 90% of all patients entering the hospital environment for care have some form of intravenous therapy during their hospital stay which is the primary factor for driving growth of intravenous catheter market globally. Moreover, rising hospitalization with increase in cardiovascular disorders is expected to rise the adoption of Cardiovascular catheter.

Global Catheter Market: Overview

Catheters are hollow pipe, made up of medical grade material and serve various functions, including administration of intravenous fluids, drainage of fluid collection, angioplasty, angiography, direct measurement of blood pressure in artery or veins, and administration of oxygen. These are inserted into the body for the treatment of a number of diseases and while performing surgeries. Catheterization is a primary co-procedure performed with varied other medical procedures such as angioplasty, cardiac electrophysiology, and neurosurgery, wherein catheters are used. There are a variety of catheters present in the market including Cardiovascular Catheter, neurovascular catheters, urinary catheter, intravenous catheters, and specialty catheters for the treatment of diseases such as like cardiovascular, neurovascular, urology and many more. Introduction of robotic assisted interventions have provided significant advantages to vascular patients, leading to boost the industry growth. Technological advancements in catheters have enabled to visualize and operate lesions in almost any vessel, and therefore it is driving towards targeted interventional applications for precise lesions in specific vessels.

Growth Drivers

Increasing prevalence of geriatric population triggering market growth

Increasing geriatric population base that is at higher risk of acquiring Cardiovascular and neurology diseases is the most dominant cause of mortality and morbidity in the world during the last three decades. Rising cases of diabetes, Cardiovascular Disorders (CVDs), End-Stage Renal Disease (ESRD) and other chronic conditions due to sedentary lifestyle are propelling the market growth.

Increasing prevalence of chronic ailments and growing healthcare expenditure in developed and developing countries are the two most important factors driving the growth of the catheter market. Increase in incontinence problems owing to rise in geriatric population base across the globe, and increase in demand for sterile & disposable catheters contribute to the market growth. As per the statistics published by the WHO, chronic diseases are anticipated to contribute to 73% of all deaths and 60% of the global burden of disease by 2020.

Technological advancement in catheter industry

 Technological advancements in catherization such as precise lesions, flexibility and extended instrument capability is anticipated to propel catheters market growth over the analysis period. Surge in adoption of hydrophilic, PTFE, pro slit covered tip and other advanced catheter technologies will prove beneficial for the market growth.

Increasing adoption of closed catheters that help to inject contrast media during computed tomography (CT) is a key growth factor for peripheral I.V. type catheter in the market. These catheters are made of polyurethane material and can withstand pressures that may exceed 300 pounds per square inch (psi). Since they can withstand high pressures, with minimal reduction in flexibility, they are increasingly being used for CT imaging applications.

The use of silicone to develop urinary catheters is increasing the demand as it is insensitive to changes in temperature and resistant to chemicals. Urinary catheters made using silicone also reduce the chances of meatitis, urethritis, and trigonitis.

Government regulation & favourable reimbursement policies

Favourable reimbursement policies are major factors leading to increased demand for catheters market. The reimbursement by the Medicaid program that provides 120 catheters per month for a person and Medicare program that reimburses maximum of 200 catheters also add to the growth. Such reimbursement policies contribute to the large share of the segment, as they reduce the out-of-pocket expenditure of the patients.

Government and regulatory bodies in several countries are adopting a number of cost-containment measures to reduce the healthcare burden, especially in developed economies. This shift from volume-to-value based system is driven by various initiatives taken by government, radiotherapy service providers, which include outcome-based pricing, profit & risk sharing, price control, and competitive tendering.

Restraint

High cost and risks and complications associated with the catheters

The high price of catheters increases the overall treatment cost, due to which patients, at times, prefer taking oral medications, instead to opting for treatment that involves the use of these catheters. Higher costs and reported complications and ill effects of catheter such as PIVC needle-stick injuries and exposure of blood, may remain a longstanding barrier to mass adoption of catheter in developing and underdeveloped countries.

The risk and complication rising in the catheter industry due to catheter material such as latex and surgery type with significant rate in the current and upcoming market. Patients who undergo cardiac catheterization are at a higher risk of catheter-associated bloodstream infections due to repeated use of catheters which is anticipated to hinder cardiovascular catheter market during the forecast period of 2020-2026.

Global Catheter Market: Product

The global catheter market based on product segmented into Neurovascular Catheter, Cardiovascular Catheter, Intravenous Catheter, Urology catheter and Speciality Catheter. Increase in surgical procedures and rising geriatric population is going to act as driving agent for the market. Approximately, 90% of all patients entering the hospital environment for care have some form of intravenous therapy during their hospital stay which is the primary factor for driving growth of intravenous catheter market globally. Moreover, rising hospitalization with increase in cardiovascular disorders is expected to rise the adoption of Cardiovascular catheter. Furthermore, increasing production of balloon catheter, increasing number of FDA approval to the product are expected to propel the growth of the global market.

Global Catheter Market: Lumen

Amidst the lumen segmentation the double-lumen segment contributed lucrative market share in the global market outlook for the year 2019. In cases where multiple central venous approaches are essential, double-lumen catheters are used, leading to industry trends. Moreover, these catheters have the capacity to reduce the frequency of the catheterization by inserting multiple drugs with one catheter. Hence, owing to vast application and high efficiency double-lumen contributes to the highest market share.

Global Catheter Market: Sales Channel

Hospital administrators and payers are exerting greater influence and increasingly focusing purchase decisions around clinical and economic value. These new economic stakeholders require different sales approaches, including comparative effectiveness studies, outcomes-based contracts, and bundled purchasing models. Medical device companies face an increasing competition in both offline and online sales channels to promote their products. Medical Device companies have a substantial need to optimize their cost bases to address price pressures, shift resources to higher growth markets and invest in innovative solutions.

Global Catheter Market: End User

Globally the catheter market based on end user sector segmented into hospitals & clinics, specialty centers, ambulatory surgical centers and others, such as diagnostic imaging centers etc. Hospitals facilitated with ambulatory catheterization labs delivering top class outpatient services will accelerate the market expansion. Hospitals & clinics segment is anticipated to account for largest market share in 2026. The growth is attributed to technological advances coupled with favorable reimbursement policies in hospitals. Furthermore, well-developed healthcare infrastructure and availability of advanced treatments will boost hospitals segmental growth in the upcoming years.

Global Catheter Market: Regional Insights

North America held the largest market share in the global catheter market followed by Europe and Asia-Pacific. Growth of North America attributed to the presence of highly developed healthcare infrastructure. In addition, the region is also associated with advanced research on efficacy and effectiveness of different types of catheters. Robust healthcare infrastructure combined with focus on development of new devices along with improved diagnosis among the patients are helping in this regional growth. Asia-Pacific region anticipated to grow with high growth rate in the upcoming years due increase in cases of cardiovascular diseases and others neurological and urological diseases. In addition, the presence of the large pool of patients in Asia pacific region is also the key driving factor. Increased prevalence of urological diseases such as Benign Prostate Hyperplasia and the consequent rise in surgical procedures is expected to drive the market expansion of Cardiovascular Catheter within the region.


Competitive Landscape

Key players for Catheter Market includes: - Abbott Laboratories, Medtronic plc, Becton, Dickinson and Company, B. Braun, Boston Scientific Corporation, ConvaTec Group plc, Coloplast Group, Terumo Corporation, Teleflex Incorporated, Johnson & Johnson Services Inc., Edwards Lifesciences Corporation, Stryker Corporation, Merit Medical, Systems, Inc., Smith Medical Inc. and other prominent players

Becton, Dickinson and Company (BD) (US) was one of the leading players in the intravenous market in 2019. This can be attributed to its robust product portfolio and strong geographic presence. To maintain its leadership, BD focuses on developing new products. BD’s products are manufactured and sold across the globe. Its products are marketed in the US and internationally through direct sales and independent distribution channels. The players operating in the market adopt various strategies such as technology development, product launch, merger and acquisitions for gaining the sustainable position in the market that further propels the growth of the market. Major organizations are introducing new items to hold their places in the worldwide catheter market. These advanced catheter product launches include the utilization of better materials that have biocompatibility

Impact of Covid-19

The World Health Organization now considers the novel coronavirus (COVID-19) to be a pandemic. As the virus spreads and cases mount, and measures stiffen to control the spread of the virus, there are numerous ways the payment system at all levels will be impacting in the coming weeks and months.

The spread of Covid-19 cases is likely to affect heavily import-dependent medical product supply chain resulting in the shortage of critical medical devices. The European Commission has temporarily made the export of certain medical devices subject to authorization. This might be difficult for medical device companies contractually obliged to supply devices to countries outside of the EU. This authorization does not apply for Norway, Lichtenstein and Switzerland.

The disruptive effects of the coronavirus COVID-19 have placed enormous strain on the global supply of medical products, increasing the risk of shortages. Although production across various industries and regions in China has been gradually resuming since late February, U.S. pharmaceutical and medical device manufacturers, which heavily source directly and indirectly from China, are now exposed to high risks in supply shortages over the next one to two months. These risks are due primarily to limited operational capacity in China and how resumption of production will be prioritized.

Recent Development

Ø  May 2020: Smiths Medical acquires Access Scientific, San Diego-based Access Scientific makes Powerwand midline and extended dwell catheter products and is set to add to Smith Medical’s vascular access product portfolio.

Ø  January 2020: With Ongoing Innovation, Merit Medical® Remain Partner in Drainage Care: Merit Medical expanded drainage portfolio to include a diverse range of solutions that work together to help physicians achieve optimal drainage care. Merit Medical ReSolve Biliary Locking Drainage Catheter, a complementary line to the ReSolve Non-Locking and Locking Drainage Catheters, is designed with two drainage hole patterns to manage both distal and proximal lesions as well as varying patient anatomy.

Ø  January 2020: Abbott received CE Mark approval in Europe for its Tendyne Transcatheter Mitral Valve Implantation system for the treatment of significant MR in patients requiring a heart valve replacement who are not candidates for open-heart surgery or transcatheter mitral valve repair.

Scope of the Report

By Product

Ø  Neurovascular Catheter

Ø  Cardiovascular Catheter

Ø  Intravenous Catheter

Ø  Urology Catheter

Ø  Speciality Catheter

By Lumen

Ø  Single Lumen

Ø  Double Lumen

Ø  Triple Lumen

By Sales Channel

Ø  Online

Ø  Offline

By End User

Ø  Hospitals & Clinics

Ø  Specialty Centers

Ø  Ambulatory Surgical Centers (ASCs)

Ø  Others (Diagnostic Imaging Centers)

By Region:  

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  Latin America

Ø  Middle East & Africa

The objective of the Study:

Ø  To analyze and forecast the global Catheter market size of the market in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

Ø  The Global Catheter market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

Ø  To outline, categorized, and forecast the global Catheter market based on the product, lumen, sales channel and end user coupled with the region.

Ø  To examine competitive developments like technological advancement, services, and regulative framework within the global Catheter market.

Ø  To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Argentina, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Product, Lumen, sales channel and end user

Key Players

Key players for Catheter Market includes:- Abbott Laboratories, Medtronic plc, Becton, Dickinson and Company, B. Braun, Boston Scientific Corporation, ConvaTec Group plc, Coloplast Group, Terumo Corporation, Teleflex Incorporated, Johnson & Johnson Services Inc., Edwards Lifesciences Corporation, Stryker Corporation, Merit Medical, Systems, Inc., Smith Medical Inc. and other prominent players.

 



WHY CHOOSE US

  • 24/7 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Coustom Research Service

    Ask the Analyst to customize an exclusive study to serve your research needs.

  • Quality & Accuracy

    offers best quality reports based on various authentic and accurate data findings.

  • Data Visualization

    As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization

  • Information security

    We never share your personal and confidential information. Your personal information is safe and secure with us.