The global cardiac catheter market is projected to grow modestly, at a CAGR of around 7.4% during the forecast period. The cardiovascular catheter industry is growing at a significant rate due to the increasing incidence of heart diseases and other cardiovascular problems. Rising in the adoption of minimally invasive procedures with better medical imaging, the presence of a large number of dominating market players and increasing use of biosensors are some other factors offering growth to the global cardiac catheter market. However, factors such as expensive cardiac catheterization procedures are estimated to create hindrance in the adoption of sensor-enabled catheters across the globe. The higher cost of the catheterization is the major concern in the emerging economies or the economies having lower income, such as India, Indonesia among others. Besides, the growing demand for interventional cardiac catheterization and technological advancements & innovations in sensor technology are promising ample opportunities to the global cardiac catheters market.
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Geographically, the global cardiac catheter market is further classified into North America, Europe, Asia-Pacific, and Rest of the World. North America is anticipated to have a significant market share in the global cardiac catheter market. Rising geriatric population and the increasing prevalence of CVD are some of the prime factors that offer the market growth in the region. According to the American Heart Society, in 2017, CVDs are the cause of around 800 thousand mortalities in the US. Heart disease is the leading cause of mortality across the globe and the US, around 370,000 Americans lose their lives every year. Moreover, Asia-Pacific is estimated to have considerable growth during the forecast period. The rising geriatric population and associated prevalence of the chronic disease in them continue to spur the demand for catheterization in healthcare centers, hospitals, and surgical units. CVDs are the leading cause of mortality in India. A quarter of all mortality is attributable to CVD in India.
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Global Cardiac Catheters Market Segmentation
By Type
- Angiographic Catheters
- PTCA Dilatation Catheters
- Guiding Catheters
- Others (Intravascular Ultrasound (IVUS) Catheters)
By End-User
- Hospitals and Clinics
- Ambulatory Surgical Centers
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