PUBLISHER: The Business Research Company | PRODUCT CODE: 1588821
PUBLISHER: The Business Research Company | PRODUCT CODE: 1588821
Diagnostic catheters are specialized medical devices designed to access and examine internal body structures, such as blood vessels or the heart, for diagnostic purposes. They often include sensors or imaging tools to measure physiological parameters, capture images, or collect samples for analysis.
The primary types of diagnostic catheters include diagnostic imaging catheters, angiography catheters, electrophysiology catheters, non-imaging diagnostic catheters, pressure and hemodynamic monitoring catheters, temperature monitoring catheters, and other non-imaging diagnostic catheters. Diagnostic imaging catheters are used to obtain detailed internal images of body structures and are frequently employed in procedures such as angiography to visualize blood vessels and guide treatments. These catheters are used in various medical fields, including cardiology, urology, gastroenterology, and neurology, and are utilized by end-users such as hospitals and diagnostic and imaging centers.
The diagnostic catheters market research report is one of a series of new reports from The Business Research Company that provides diagnostic catheters market statistics, including diagnostic catheters industry global market size, regional shares, competitors with a diagnostic catheters market share, detailed diagnostic catheters market segments, market trends and opportunities, and any further data you may need to thrive in the diagnostic catheters industry. This diagnostic catheters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The diagnostic catheters market size has grown strongly in recent years. It will grow from $4.00 billion in 2023 to $4.25 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth during the historic period can be attributed to an increase in cardiovascular diseases, an expanding elderly population, the rise of minimally invasive procedures, higher healthcare expenditures, and the expansion of ambulatory surgery centers.
The diagnostic catheters market size is expected to see strong growth in the next few years. It will grow to $5.49 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth projected for the forecast period can be attributed to the rising demand for diagnostic and therapeutic procedures, an increase in imaging and diagnostic centers, supportive regulatory environments, the introduction of new guidelines, and a focus on early diagnosis. Key trends during this period include technological advancements, advanced imaging techniques, the development of smart catheters, a focus on personalized medicine, and ongoing investment in research and development.
The increasing prevalence of cardiovascular diseases is projected to drive the growth of the diagnostic catheter market. Cardiovascular diseases (CVDs), which encompass disorders affecting the heart and blood vessels such as coronary artery disease, heart attacks, and stroke, are on the rise due to factors including unhealthy diets, obesity, stress, urbanization, and socioeconomic conditions. Diagnostic catheters play a crucial role in visualizing and assessing the function of cardiovascular structures and identifying abnormalities in patients with these conditions. For instance, in May 2024, the Centers for Disease Control and Prevention reported that heart disease caused 702,880 deaths in 2022, representing 1 in every 5 fatalities, or one person every 33 seconds. Coronary heart disease was responsible for 371,506 of these deaths, with approximately 20% of cardiovascular disease deaths occurring in adults younger than 65 years. This rising prevalence of cardiovascular diseases is expected to drive the diagnostic catheter market's growth.
Key players in the diagnostic catheter market are focusing on technological innovations, such as TRUEref technology, to enhance the mapping of complex cardiac arrhythmias. TRUEref technology provides high-precision reference data in imaging and diagnostics, often used in medical devices to improve accuracy. For example, in July 2023, Biosense Webster Inc., a US-based company specializing in medical devices for cardiac arrhythmias, launched the OPTRELL Mapping Catheter. This catheter, powered by the CARTO 3 System, offers high-definition electrophysiological mapping for complex cardiac arrhythmia cases. It features 48 small electrodes arranged in a fixed array, delivering high-resolution maps for more accurate ablation targeting. This advanced technology improves clinicians' ability to detect ablation gaps and understand arrhythmia mechanisms, thereby enhancing treatment outcomes.
In August 2022, Medtronic plc, an Ireland-based medical device company, acquired Affera, Inc. for an undisclosed amount. This acquisition expands Medtronic's cardiac ablation portfolio by adding its first cardiac mapping and navigation platform, which includes a fully integrated solution for diagnostic, focal pulsed field, and radiofrequency ablation. Affera Inc., a US-based company specializing in cardiac diagnostic and ablation catheters, will contribute to Medtronic's enhanced capabilities in this field.
Major companies operating in the diagnostic catheters market are Cardinal Health Inc., Johnson & Johnson, Abbott Laboratories, Medtronic plc, Koninklijke Philips N.V., Becton Dickinson and Company, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, St. Jude Medical Inc., Cook Medical Incorporated, Biotronik SE & Co. KG, AngioDynamics Inc., Cordis Corporation, Alvimedica, Wellinq, Relisys Medical Devices Limited, AdvinHealthcare, Omnia Health LLC
North America was the largest region in the diagnostic catheters market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the diagnostic catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The diagnostic catheters market consists of sales of balloon catheters, urological catheters, neurovascular catheters, intracardiac echocardiography (ICE) catheters, and optical coherence tomography (OCT) 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.
Diagnostic 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 diagnostic 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 diagnostic catheters ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The diagnostic 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.