PUBLISHER: The Business Research Company | PRODUCT CODE: 1415757
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415757
“Esophageal Catheters Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on esophageal catheters market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for esophageal catheters? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The esophageal catheters market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Esophageal catheters are specialized medical instruments utilized for a variety of diagnostic and therapeutic functions related to the esophagus, which serves as the muscular tube connecting the throat (pharynx) to the stomach. These catheters are designed for performing diverse tests and procedures aimed at assessing esophageal function and diagnosing esophageal disorders.
The primary types of esophageal catheters include balloon dilation catheters, irrigation catheters, pressure monitoring catheters, radiofrequency ablation catheters, and suction catheters. Among these, a balloon dilation catheter, also known as a balloon dilator, is a medical device employed to expand narrow or constricted passages within the body. These catheters are used across various medical disciplines for multiple purposes, including cardiovascular and gastroenterology procedures. They find application in treating conditions such as gastroesophageal reflux disease (GERD), dysphagia, chest pain, and others, with diverse end-users, including hospitals, clinics, and ambulatory surgical centers.
The esophageal catheters market research report is one of a series of new reports from The Business Research Company that provides esophageal catheters market statistics, including esophageal catheters industry global market size, regional shares, competitors with an esophageal catheters market share, detailed esophageal catheters market segments, market trends and opportunities and any further data you may need to thrive in the esophageal catheters industry. This esophageal catheter market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The esophageal catheters market size has grown strongly in recent years. It will grow from $2.23 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to critical care advancements, cardiac and respiratory disorders, minimally invasive procedures, intensive care units (icus).
The esophageal catheters market size is expected to see strong growth in the next few years. It will grow to $3.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to global aging population, advanced critical care, personalized medicine, telemedicine and remote monitoring. Major trends in the forecast period include wireless and mobile monitoring, ai-assisted monitoring, smart catheter sensors, patient-centered care.
The projected expansion of the esophageal catheter market is driven by the increasing prevalence of chronic esophageal disorders. Chronic esophageal disorders encompass a range of medical conditions that persist over an extended duration, affecting the esophagus, the muscular conduit connecting the mouth to the stomach. Instruments like manometry catheters play a vital role in diagnosing chronic esophageal disorders by measuring pressure fluctuations and motility patterns along the esophagus. For example, a report published by the National Library of Medicine in January 2023 estimated that esophageal cancer could result in 739,666 new cases and 723,466 fatalities by 2030 in the United States. Globally, these figures are projected to rise to 987,723 cases and 914,304 deaths by 2040. Hence, the growing prevalence of chronic esophageal disorders is a significant driving force behind the esophageal catheter market's growth.
The rising occurrence of gastroesophageal reflux disease (GERD) is poised to propel the expansion of the esophageal catheters market in the forthcoming years. GERD is a prevalent condition characterized by the backflow of stomach contents into the esophagus, potentially leading to damage in the esophagus, throat, and respiratory tract. Esophageal catheters are instrumental in diagnostic testing for identifying GERD. As of August 2021, NPS MedicineWise, a non-profit organization in Australia supported by the US Department of Health, reported that one in every five Australians frequently experiences gastroesophageal reflux or heartburn. Thus, the increasing incidence of gastroesophageal reflux disease (GERD) is a driving force behind the esophageal catheters market's growth.
The primary factor constraining the growth of the esophageal catheters market is the potential complications that can occur during the insertion and utilization of these catheters. This underscores the inherent risks associated with using esophageal catheters, emphasizing the importance of specialized training and expertise to mitigate these potential complications. Such complications have the potential to increase healthcare costs and cause discomfort for patients. For instance, a study conducted by the National Library of Medicine in February 2022, involving 133 patients who underwent port-a-cath system implantation, revealed early complications, including pneumothorax (1.2%), bleeding (1.1%), and early pocket infections (1.0%). Thus, the possibility of complications during esophageal catheter insertion and use serves as a limiting factor for the growth of the esophageal catheter market.
Prominent players within the esophageal catheters market are focusing on the development of innovative technologies, such as TactiFlex SE irrigation catheters, to enhance their product offerings and strengthen their market presence. Radiofrequency ablation catheters are vital medical devices used in the treatment of various cardiac arrhythmias during ablation procedures, transmitting high-frequency electrical impulses to heart tissue. For instance, in August 2022, Abbott Laboratories, a US-based company specializing in medical devices and healthcare, introduced TactiFlex SE in Japan. This radiofrequency (RF) ablation catheter features a flexible tip, slit electrode, and contact force technology, designed to conform to the heart's wall shape for diverse patient anatomies, ensuring safe and efficient lesion creation during procedures.
In January 2022, VitalPath, a US-based manufacturer of catheters and catheter shafts, acquired Modern Catheter Technologies in an undisclosed transaction. This acquisition is set to enhance VitalPath's capacity for expansion, increasing its overall manufacturing footprint to over 80,000 square feet, which includes 35,000 square feet of ISO 7 and 8 cleanroom space. Modern Catheter Technologies, a US-based manufacturer, specializes in the development and production of custom, highly intricate catheter solutions for medical applications.
Major players in the esophageal catheters market are Medtronic PLC, Medline Industries LP, Becton Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen AG, Stryker Corporation, Olympus Corporation, Edwards Lifesciences Corporation, CooperSurgical Inc., Teleflex Incorporated, Cook Medical Inc., Merit Medical Systems Inc., Avanos Medical Inc., Medela AG, Japan Lifeline Co. Ltd., Meridian Bioscience Inc., Laborie Medical Technologies Inc., FUJIFILM Medical Systems, CardioFocus Inc., Taewoong Medical Co., Pennine Healthcare, EB Neuro S.p.A., Alicn Medical Co. Ltd., Hamilton Medical AG , Deem Sensing Technologies Pvt. Ltd., Envaste Limited, Medcaptain Medical Technology Co. Ltd., CardioCommand Inc., Ella Cs S.R.O, PENTAX Medical Co. .
North America was the largest region in the esophageal catheters market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in esophageal catheters report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the esophageal catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The esophageal catheters market consists of sales of esophageal pH monitoring catheters, esophageal manometry catheters, impedance-pH monitoring catheters and suction catheters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.