Global Diagnostic Catheters Market Size, Share, and COVID-19 Impact Analysis By Type (Imaging Catheters, Non-Imaging Catheters), By Application (Cardiology, Urology, Neurology, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Healthcare
Global Diagnostic Catheters Market Insights Forecasts to 2030
- The Diagnostic Catheters Market Size was valued at USD 4.1 Billion in 2021.
- The Market is Growing at a CAGR of 6.2% from 2022 to 2030
- The Worldwide Diagnostic Catheters Market Size is expected to reach USD 6.8 Billion by 2030
- Asia Pacific is expected to Grow the fastest during the forecast period
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The Global Diagnostic Catheters Market is expected to reach USD 6.8 billion by 2030, at a CAGR of 6.8% during the forecast period 2022 to 2030.
Diagnostic catheter is basically a hollow plastic tube with size 2-3 mm diameter which is inserted in the arteries and veins of the leg, neck, or arm under anesthesia. This equipment is used to measure blood pressure inside heart chambers, conduct angiography, and collect blood sample. Catheters are made of materials like plastic, polyvinyl chloride (PL), nylon, as well as silicone rubber.
Global Diagnostic Catheters Market Report Coverage
|Market Size in 2022:||USD 4.1 Billion|
|Forecast Period 2021-2030 CAGR:||6.2%|
|2030 Value Projection:||USD 6.8 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Type, By Application, By Region, and COVID-19 Impact Analysis|
|Companies Covered:||Boston Scientific Corporation, St. Jude Medical, Inc., Medtronic, Johnson & Johnson, Koninklijke Philips N.V., B. Braun Melsungen AG., C. R. Bard, Inc., Cardinal Health, Inc., Edwards Lifesciences Corporation, Terumo Corporation|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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Key Driving Factors
Rising prevalence of cardiovascular diseases, introduction of advanced imaging catheters, as well as an increase in imaging and diagnostic centers are driving the growth of the global diagnostic catheters market. In the field of intravascular diagnostics and imaging, OCT imaging catheters are gaining popularity. The rise in the use of OCT imaging catheters by medical professionals for various investigative indications has occurred from the efficient use of OCT imaging in various investigative fields like cardiology. Furthermore, diagnostic catheters are used in conducting various kind of investigations which involved various imaging procedures. With the introduction of new technology, the market started witnessing significant growth. Diagnostic catheters are widely used in various medical fields such as urology, cardiology, neurology, gastrointestinal medicine, and others.
Key Challenging Factors
Medical waste is one of the major environmental problems witnessed across the world. Hence, various countries have already started taking certain steps to reduce the amount of medical waste that is being generated. Many healthcare units have started using reusable diagnostic catheters to perform medical operations and research. Due to all these factors, the demand for new diagnostic catheters have reduced. In addition, other factors which are restraining the overall market growth are cost cutting and use of other types of diagnostic catheters.
Neurology and cardiology segment holds the largest market share over the forecast period.
On the basis of application, the global diagnostic catheter market is segmented into cardiology, urology, neurology, and others. Among these, the neurology and cardiology segment is anticipated to hold the largest market share over the forecast period. The growth is attributed to the increasing demand for cardiac catheters owing to the rising frequency of pulmonary and cardiovascular ailments across the world. Furthermore, rising advancements in the field of technology, specifically radio technology as well as software help to diagnose in faster and convenient way.
Imaging catheter segment is dominating the market with the largest market share
On the basis of type, the global diagnostic catheter market is segmented into imaging catheters and non-imaging catheters. Imaging catheters are further sub segmented into angiography catheters, ultrasound catheters, OCT catheters, electrophysiology catheters. Non-imaging catheters are further sub segmented into pressure and hemodynamic monitoring catheters and temperature monitoring catheters. Among these, imaging catheter segment is dominating the market over the forecast period.
North America is dominating the market with the largest market share over the forecast period
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North America is dominating the market with the largest market share over the forecast period due to the increasing prevalence of cardiovascular diseases, increasing number of diagnostic and imaging centers, and rising awareness related to the minimally invasive methods. The market in this region is anticipated to reach USD 983.5 million by 2023.
Asia Pacific, on the other hand is anticipated to witness the fastest market growth over the forecast period owing to increasing number of cases of catheter based infections as well as cardiovascular problems. The other region behind the regional growth in Asia Pacific are the delay in adoption of new technologies in countries like Middle East and Africa and Latin America.
Recent Market Developments
- In October 2015, Cardinal Health, Inc. acquired Johnson & Johnson’s Cordis business which has expanded the portfolio of Cardinal Health.
List of Key Companies
- Boston Scientific Corporation
- St. Jude Medical, Inc.
- Johnson & Johnson
- Koninklijke Philips N.V.
- B. Braun Melsungen AG
- C. R. Bard, Inc.
- Cardinal Health, Inc.
- Edwards Lifesciences Corporation
- Terumo Corporation
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Diagnostic Catheters Market based on the below-mentioned segments:
Diagnostic Catheters Market, Type Analysis
- Imaging Catheters
- Angiography Catheters
- Ultrasound Catheters
- OCT Catheters
- Electrophysiology Catheters
- Non-Imaging Catheters
- Pressure and Hemodynamic Monitoring Catheters
- Temperature Monitoring Catheters
Diagnostic Catheters Market, Application Analysis
Diagnostic Catheters Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of Diagnostic Catheters Market?The global Diagnostic Catheters Market is expected to grow from USD 4.1 Billion in 2021 to USD 6.8 Billion by 2030, at a CAGR of 6.2% during the forecast period 2022-2030.
2. Who are the key market players of Diagnostic Catheters Market?Some of the key market players of Diagnostic Catheters Market are Genomic Health, NanoString Technologies Inc., Paragon Biosciences LLC, Siemens AG, Quest Diagnostics Incorporated, Koninklijke Philips N.V., Epigenomics Inc., AstraZeneca, Biocept Inc., and Devicor Medical Products Inc.
3. Which segment hold the largest market share?Imaging segment hold the largest market share is going to continue its dominance.
4. Which region is dominating the Diagnostic Catheters Market?North America is dominating the Diagnostic Catheters Market with the highest market share.
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