Cardiac Catheters Market Competitive Landscape: Major Players, Competitor Market Shares, And Player Strategies - By The Custom Market Insights
The Global Cardiac Catheters Market size was estimated at USD 13.5 Billion in 2021 and is expected to hit around USD 25.5 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 7.65% from 2022 to 2030.
Cardiac catheters are instruments used for heart valve analysis or for directing and visualizing the coronary arteries. The product is a thin, flexible tube that guides equipment through the body’s blood arteries during cardiovascular treatments like angioplasty and stenting. Since they offer a less invasive interventional method than open surgery, cardiac catheters are in great demand. Cardiac catheters are long, thin, flexible tubes inserted into blood vessels in the arms, neck, or groin and then transported to the heart for therapeutic and diagnostic treatments.
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The aging population and rise in heart disease prevalence are anticipated to fuel market expansion. Technological developments also stimulate the market. Due to an increase in the majority of heart ailments, cardiovascular issues brought on by altered lifestyle patterns, poor dietary practices, and excessive alcohol and cigarette use, the market for cardiac catheters is multiplying. This has further resulted in artery obstruction and stroke, which necessitated surgery. Market share for cardiac catheters will increase as less invasive treatments with improved medical imaging become more popular.
Along with technological advancements and improvements in sensor technology, the rising need for interventional cardiac catheterization will further support market trends for cardiac catheters. However, constraints, including a shortage of qualified personnel, are anticipated to impede market expansion. During the analysis period, increased R&D and significant investments in healthcare are expected to present new possibilities.
Market Dynamics.
Drivers.
There are many different types of cardiac catheters available depending on the complexity of the cardiac problem, which increases the surgeon’s effectiveness. The cardiovascular devices industry is growing significantly due to the rising number of patients with cardiac disorders and the increasing prevalence of unhealthy lifestyles. Additionally, the market for cardiac catheters is expected to develop more throughout the projected period due to technological advancements.
A growing number of elderly people
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 at an unprecedented rate in Asia Pacific, where there are most of them.
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.
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Report Highlights.
Based on the product, the PTCA balloons catheters category is expected to grow at the most significant CAGR and will be in a dominant position in the future. PTCA, a minimally invasive procedure, opens up blocked or constrictive coronary arteries brought on by coronary artery disease (CAD). Without requiring open heart surgery, PTCA balloon catheters allow blood to flow freely from the streets to the heart muscles.
Based on end-users, the ambulatory surgery centers segment is the leading segment and is expected to make the most significant contribution to the cardiac catheters market. They provide patients with the convenience of having operations and surgeries safely carried out anywhere outside a hospital. Ambulatory surgery centers have shown since they opened their doors decades ago that they can increase quality, convenience, and service while lowering costs. In addition, they frequently have a more laid-back atmosphere than a hospital setting since they are usually calmer and see fewer patients daily.
Key Players
Segments covered in the report.
By Product
By End User