New York, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Over the past seven years, from 2015 to 2022, the global market has witnessed a significant average annual growth rate of 6.2%.Cardiology has undergone a transformation, revolutionizing disease management through more precise diagnostics and minimally invasive therapeutic techniques. Hemodynamic labs in cardiology referral centers play a crucial role in detecting and addressing cardiovascular disorders, with coronary angiography being a prominent procedure.
The global revenue from the angiography catheters market was approximately US$ 1.4 Billion in 2022, with the global market expected to grow at a CAGR of 6.5% to reach a valuation of approximately US$ 2.7 Billion by the end of 2033.Percutaneous angiography relies on a vital piece of medical equipment known as an angiographic catheter. These thin, flexible tubes come in various materials, including polyamide, polyurethane, and Teflon.
Several key factors contribute to the growth of the angiographic catheters market, including the increasing adoption of minimally invasive procedures, a rising incidence of cardiovascular diseases, a growing demand for accurate diagnoses, and heightened awareness of various conditions, particularly cardiovascular diseases.
According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are responsible for 17.9 million global fatalities, ranking as the leading cause of death. In the United States, one person succumbs to cardiovascular disease every 34 seconds, as reported by the US Centers for Disease Control and Prevention. Heart disease accounted for one in five deaths in the United States in 2020, claiming approximately 697,000 lives.
The prevalence of chronic diseases affecting the endocrine, cardiovascular, renal, and urological systems is necessitating increased hospitalization. The market is expanding to meet the needs of patients with chronic conditions who require catheterization to address arterial blockages.
Furthermore, a growing elderly population and the rise of vascular syndromes resulting from factors like obesity, hypertension, and sedentary lifestyles are contributing to the demand for angiographic catheters.As a result, the global market is poised for substantial growth, with an estimated compound annual growth rate (CAGR) of 6.5%. By 2033, it is expected to reach a global market size of approximately US$ 2.7 billion.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 1.5 Billion | |
| Estimated Revenue 2033 | US$ 2.7 Billion | |
| Growth Rate – CAGR | 6.5% | |
| Forecast Period | 2023-2033 | |
| No. of Pages | 245 Pages | |
| Market Segmentation | By Product, By Application, By End User, By Region | |
| Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa | |
| Key Companies Profiled |
| |
Angiography Catheters Market Dynamics
Drivers
The market's growth trajectory will be propelled by the increasing prevalence of cardiovascular diseases. The rising incidence of cardiovascular diseases is set to be a significant driving force behind the growth of the angiographic catheter market. Additionally, factors such as sedentary lifestyles, elevated hypertension rates, and rising obesity levels are all contributing to the expansion of the angiographic catheters market.
Growth rate of the market will receive a boost from the increasing levels of household income. The upward trend in domestic income will further stimulate the demand for angiographic catheters. As household incomes rise, individuals are more inclined to allocate additional resources to healthcare, while favorable reimbursement policies make treatments more accessible to consumers.
Government initiatives aimed at raising awareness among the public will exert a substantial influence on the growth rate of the angiographic catheter market. Technological advancements also play a pivotal role in the market's expansion. Additionally, a growing elderly population and a growing preference for minimally invasive surgical procedures are prominent drivers poised to enhance market growth. Furthermore, the increased consumption of tobacco, alcohol, and substance abuse will continue to impact the growth rate of the angiographic catheter market.
Restraints
Challenges await the growth of the angiographic catheter market, primarily due to the elevated risks associated with angiographic surgeries. Catheterization procedures carry inherent risks, including potential allergic reactions to the various materials and medications utilized during the process. Additionally, complications such as bleeding, infections, bruising, and capillary clot formation at the catheter insertion site pose significant threats, potentially leading to severe conditions such as heart attacks, strokes, or other critical ailments. These challenges present substantial obstacles to the angiographic catheter market's expansion.
Furthermore, hindrances arise from the considerable costs linked to angiographic procedures, impeding market growth. Stringent government policies governing product approvals also present a major hurdle for the angiographic catheter market. Moreover, the unconventional nature of therapies and their limited availability act as restraints, further slowing down the market's growth rate during the forecast period from 2022 to 2029.
This report on the angiographic catheter market furnishes comprehensive insights, encompassing recent developments, trade regulations, import-export analyses, production assessments, optimization of value chains, market share data, the impact of domestic and localized market participants, opportunities emerging from evolving revenue sources, shifts in market regulations, strategic analyses for market growth, market size assessments, category-specific market advancements, niche applications, market dominance factors, product approvals, product launches, geographical expansions, and technological innovations. For further information on the angiographic catheter market.
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Opportunity
The angiography catheters market offers several promising opportunities for manufacturers and healthcare stakeholders. Technological advancements in catheter design and materials are opening doors for more precise and efficient procedures, enhancing patient outcomes and safety. Emerging markets with expanding healthcare infrastructure represent untapped potential, as increased access to angiography procedures can drive demand for catheters.
The trend toward personalized medicine provides an opportunity to develop specialized catheters tailored to specific patient profiles. Telemedicine and remote monitoring are gaining traction, creating a need for innovative catheter technologies suitable for remote procedures and diagnostics. Collaborations between healthcare institutions, manufacturers, and research organizations can foster the development of advanced catheter technologies and expand market reach.
Prioritizing patient comfort and safety can lead to the development of less invasive, patient-friendly catheterization techniques. Diversifying product portfolios to include catheters for various applications, such as neurology and peripheral vascular procedures, can tap into new market segments.
Healthcare awareness programs focused on cardiovascular disease prevention can stimulate demand for diagnostic procedures involving angiography catheters. Ongoing research and development efforts in catheter materials and coatings can lead to innovations that enhance performance and improve patient outcomes.
Efficient navigation of regulatory pathways can expedite product approvals and market entry. The growing preference for minimally invasive procedures among patients and healthcare providers creates opportunities for manufacturers to develop and market advanced catheter devices that cater to this demand.
As the aging population is more susceptible to cardiovascular diseases, the market can benefit from increased demand for angiography catheters for diagnostic and interventional purposes.
Government-led global health initiatives aimed at improving healthcare infrastructure and access to cardiovascular care in various countries can drive market growth.
Product differentiation through unique features, such as improved imaging capabilities or reduced radiation exposure, can set catheter products apart in the market, attracting healthcare providers seeking enhanced solutions. By capitalizing on these opportunities, angiography catheter manufacturers can position themselves for growth and success in an evolving healthcare landscape.
Challenges
The Angiography Catheters Market faces several challenges in its growth and development. One significant challenge is the increasing competition among medical device manufacturers, leading to price pressures and the need for continuous innovation to stay competitive. Additionally, regulatory hurdles and stringent approval processes can hinder the introduction of new catheter technologies into the market, slowing down product development and market entry.
Another challenge is the growing awareness among healthcare providers and patients regarding the risks associated with invasive procedures and radiation exposure during angiography. This has led to a demand for safer and less invasive alternatives, putting pressure on traditional angiography catheters. Moreover, the evolving healthcare reimbursement landscape and cost containment efforts have led to greater scrutiny of the value and cost-effectiveness of angiography procedures and the devices used, making it essential for manufacturers to demonstrate the clinical and economic benefits of their products.
Furthermore, the aging population and the increasing incidence of chronic diseases have boosted the demand for angiography procedures, but they have also created a need for catheters that can be used in elderly and medically complex patients, which presents design and usability challenges. Finally, the global supply chain disruptions and logistical challenges, as seen during the COVID-19 pandemic, can impact the availability of essential catheter components and manufacturing processes, leading to delays and supply chain vulnerabilities in the angiography catheters market. In summary, while the angiography catheters market holds promising opportunities, it must address these challenges to ensure sustained growth and innovation in the industry.
Competitive Scenario
Prominent manufacturers consistently engage in innovation and the development of novel products to uphold their leading positions within the angiographic catheters market. Their primary focus is on expanding their revenue share, a vital aspect for maintaining market supremacy. These companies boast extensive product portfolios that encompass a wide range of features, equipping them to effectively compete on a global scale.
Their expansive distribution networks enable them to serve customers across diverse regions effectively.
Notable instances of their ongoing developments include:
- Cardinal Health's Cordis, which fully introduced its RADIAL 360 portfolio in the United States in May 2019. This comprehensive range of tools is designed to support the transradial approach (TRA) in interventional cardiology procedures.
- The European availability of the PrevailTM drug-coated balloon catheter in July 2021. This advanced coronary DCB is employed for the treatment of obstructed or narrowed coronary arteries in individuals with coronary artery disease.
Market Segmentation
Key Segments Covered in Angiography Catheters Industry Research
Product:
- Cerebral Catheters
- Hinck-Hilal (Head Hunter) Catheters
- Bentson Hanafee Wislon (JB2, JB3)
- Simmons (SIM2)
- Visceral Catheters
- Hockey Stick Catheters
- Cobra Catheters
- Coronary Catheters
- Judkins Catheters
- Amplatz Catheters
- Sones Coronary Catheters
- Extra Backup Catheters
- Tiger Catheters
- Jacky Catheters
- 3D LIMA Catheters
- Renal Catheters
- Simmons Catheters
- Renal Double Curved (RDC) Catheter
- Microcatheter
- Pigtail Catheter
- Others
Application:
- Coronary
- Endovascular
- Neurology
- Oncology
- Others
End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Key Questions Answered in the Report:
- What are the factors contributing to the growth trends in the market?
- What is the current market size, and how do experts expect it to change in the coming years?
- What are the key elements that are currently influencing the market?
- How is the Angiography Catheters Market categorized, considering factors such as types, fuels, applications, or other relevant criteria?
- Who are the main participants in the Angiography Catheters Market?
- What strategies are these players employing to establish a competitive advantage?
- What factors are propelling the expansion of the Angiography Catheters Market?
- Which regions are projected to experience significant growth, and what are the underlying reasons for it?
- What recent technological advancements are making an impact on the Angiography Catheters industry?
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