Market Scope
The Cardiac Catheterization Market was valued at USD 0.35 billion in 2022. The Cardiac Catheterization market is expected to increase from USD 0.3731 billion in 2023 to USD 26.4 billion by 2032, with a compound yearly growth rate (CAGR) of 7.4% over the forecast period (2023-2032).
Key Drivers and Challenges
Cardiovascular along with neurology and urology has emerged as one of the most common causes of morbidity and mortality across the globe in the last few decades. Surging number of End-Stage Renal Disease (ESRD), diabetes cases, urology disorders,
Cardiovascular Disorders (CVDs), and various chronic ailments owing to prevalence of inactive lifestyle benefits the cardiac catheterization market. Surgeries are increasingly being performed and have grown significantly in number owing to the surging cases of chronic disorders worldwide, leading to higher requirement for advanced cardiac catheters. Mounting awareness level regarding these products and the expanding pool of mid-sized cardiac catheter manufacturers could also encourage market growth in the following years.
The cardiac catheterization industry is also favored by the booming geriatric population, improving healthcare infrastructure and the escalation in angiographic procedures. Supportive reimbursement scenario along with the surge in obesity incidences among the global population also induces significant market growth. A few trends observed in the global market include surging preference for minimally invasive procedures coupled with the rapidly soaring number of number of catheterization labs across various countries.
Most of the renowned vendors are primarily focused on M&A as well as new product launches to bolster their business positions in the industry. For instance, in June 2020, iVascular SLU launched Essential Pro, which is a coronary artery drug-coated balloon/DCB. The Essential Pro DCB has better trackability, visibility and pushability, and helps dilating the coronary or stenosis artery or the bypass grafts occlusions, such as tiny vessels, and the residual stenosis post the treatment using endoprosthesis or balloon along with pre- and post-dilation of coronary endovascular prosthesis.
Market Segmentation
Cardiac catheterization industry has been considered for procedures, types, applications, and end-users.
The types of procedures include balloon septostomy, coronary angioplasty, bipolar pacing, catheter ablation, right heart catheterization, left heart catheterization, and more.
The primary types of cardiac catheterization are fractional flow reserve, coronary angiogram, optical coherence tomography and intravascular ultrasound.
Some of the prominent applications are abnormal stress test, heart attack, cardiac arrhythmia, coronary vasospasm, and others.
Hospitals and clinics and more are the key market end-users studied in the report.
Regional Study
Asia Pacific or APAC, the Americas along with Europe and Middle East and Africa are the top markets for cardiac catheterization.
At present, America is the market leader for cardiac catheterization across the globe, thanks to the substantial burden of cardiovascular diseases in the region. The expansive geriatric pool in the region is extremely vulnerable to obesity and hypertension issues and is quite often affected by various heart diseases, leading to strong demand for cardiac catheterization market research. The American market growth also banks upon the rising number of government initiatives and the considerable budget allocated for extensive research and development activities in the medical treatment field.
With a considerable share in the global market, Europe stands as the second global leader owing to the presence of a number of well-equipped treatment facilities, significant healthcare spending and the mounting requirement for improved healthcare infrastructure. The surge in supportive government initiatives with respect to healthcare reforms also promotes market growth in the region.
The highly promising APAC market has the potential to gain impetus at the fastest rate, backed by factors such as the burgeoning elderly population and the rapidly surging diabetic patients who are vulnerable to various cardiac disorders. Quick adoption of advanced healthcare technologies, government efforts to improve healthcare quality and the availability of favorable insurance schemes in the region can also bolster market expansion in subsequent years. In recent years, world renowned vendors such as Medtronic and Boston Scientific Corporation established their headquarters as well as manufacturing plants in Australia, China, Singapore, Korea, Japan, which gave a massive push to the cardiac catheterization market growth in the region.
Eminent Market Firms
The most eminent market firms are Smiths Medical (US), St. Jude Medical (US), Maquet Medical India Private Limited (India), Abbott (US), Boston Scientific Corporation (US), Medtronic Inc (US), Johnson & Johnson Private Limited (US), Terumo Medical Corporation (Japan), Rochester Medical Corporation (U.S), Dispocard GmbH (Germany), Teleflex Incorporated (US)., Coloplast (Denmark), Becton, Dickinson and Company (US), Edwards Life Sciences Corporation (US), to mention a few.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact Us:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
