Catheters Market

Report Overview

The global catheters market was pegged at US$ 15.5 billion in 2020 and is expected to witness a CAGR of 8.5% during the forecast period.

Market Fundamentals

The catheter is a thick flexible tube that is inserted into the body to introduce fluids or to take them out of the body. Catheters are also used while performing a surgical procedure. The process of inserting the catheter into the body is known as catheterization. Catheters are made using different polymers including silicone rubber, nylon, polyethylene terephthalate (PET), latex, polyurethane, and thermoplastic elastomers.

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Market Dynamics

The global catheter market is mainly driven by the growing prevalence of various chronic and acute diseases, rising number of surgical procedures, growing geriatric population, increasing preference for minimally invasive surgeries, and new product launches. However, the risk of infections associated with catheter insertion and product recalls are likely to hinder the market growth to a certain extent.

Market Ecosystem

The global catheter market has been analyzed from three perspectives: Product Type, End-User, and Region.

Catheters Market by Product Type

Based on the product type, the catheters market has been segmented into intravenous catheters, cardiovascular catheters, urological catheters, neurovascular catheters, and specialty catheters. Intravenous catheters are further sub-segmented into central venous catheters, peripheral catheters, and midline peripheral catheters. Cardiovascular catheters are further bifurcated into angiography catheters, electrophysiology catheters, balloon catheters, guiding catheters, and IVUS/OCT catheters. Urological catheters are further categorized into dialysis catheters and urinary catheters. Specialty catheters are further divided into temperature monitoring catheters, pressure & hemodynamic monitoring catheters, intrauterine insemination catheters, and other specialty catheters. The cardiovascular catheters segment dominated the global catheters market in 2020. The rising incidence of cardiovascular diseases and increasing number of cardiovascular surgeries is driving the demand for cardiovascular catheters.

Catheters Market by End User

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Based on end-user, the catheter market has been segmented into hospitals, diagnostic centers, long-term care facilities, and other end users. The hospital's segment held the largest market share in 2020. Factors contributing to the growth of this segment include the increasing number of hospital admissions for various types of surgical procedures.

Catheters Market by Region

Regionally, the global catheter market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest market share in the global catheters market. Factors such as the large pool of geriatric population, presence of quality healthcare infrastructure and prominent market players, an increasing number of surgical procedures, and better reimbursement policies are driving the demand for catheters in the North American market.

Competitive Landscape

Some of the prominent players operating in the global catheters market includes:-

• Becton Dickinson
• Boston Scientific Corporation
• Medtronic
• B. Braun Melsungen AG
• Abbott
• Cook Medical
• Teleflex Incorporated
• Johnson & Johnson Services, Inc
• Terumo Medical Corporation
• Hollister Incorporated, among others

Strategic Developments

• In February 2021, Medtronic released its recently acquired Rist radial access guide catheters. Rist 079 catheter is designed for the introduction of interventional devices into the neuro vasculature and coronary artery using the radial artery in the wrist.
• In December 2020, Ingenion Medical was awarded £100,000 (US$ 121,000) in grant funding from Innovate UK, the country's innovation agency. The company would utilize the fund to gain a CE Mark for its CymActive urinary catheter.
• In October 2020, Biosense Webster, Inc., a Johnson & Johnson Company received the FDA approval for its Thermocool Smart touch SF Ablation Catheter for the treatment of persistent atrial fibrillation.
• In July 2020, Revamp Medical received FDA Breakthrough Device Designation for the Doraya device, a temporary catheter.
• In May 2019, Medtronic launched a telescope guide extension catheter that is designed to provide additional backup support and access to distal lesions

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