As per our report, the size of the global diagnostic catheter market was valued at USD 3.7 billion in 2020 and is estimated to be growing at a CAGR of 7.37% and worth USD 5.3 billion by 2025.
Catheters are thin tubes made of medical grade material such as plastic, silicon rubber, polyvinyl chloride (PVC), and nylon, inserted in the patient’s body for therapeutic and diagnostic purposes. Catheterization is a primary co-procedure performed with various other medical procedures such as angioplasty, cardiac electrophysiology, and neurosurgery, wherein catheters are used.
The Diagnostic Catheter is a hollow plastic tube of 2-3 MM diameter, and these catheters are used in performing various diagnostic procedures by using multiple imaging techniques. These diagnostic catheters are used for several indications in different application areas such as gastroenterology, neurology, cardiology, urology, etc.
MARKET DRIVERS:
The global diagnostic catheter market is expected to witness moderate growth during the forecast period, owing to the rise in the number of surgeries and the high demand for minimally invasive procedures.
The growth of the global diagnostic market is further driven by factors such as the rising geriatric population, increasing chronic diseases, kidney and cardiovascular diseases, and the increasing number of minimally invasive surgeries. Besides, growing reimbursement in imaging catheter technology and improving technological advancements are expected to create the demand for this market. Key market players are coming up with new technologies, which are expected to boost the market growth. Moreover, investments by the government and various private organizations to develop the healthcare infrastructure is further expected to improve the market growth.
Also, an increase in the geriatric population base and a rise in demand for sterile & disposable catheters supplement the market growth. Furthermore, the increase in reimbursement levels and catheter technology advancements is expected to boost the market growth.
MARKET RESTRAINTS:
However, inadequate quality assurance and price competition at domestic levels are expected to hamper this growth. Additionally, the unavailability of skilled professionals and the high cost of these devices are expected to restrain the market growth of diagnosed catheter market.
Impact of COVID-19 on diagnostic catheter market:
The COVID-19 has negatively affected all sectors of the economy during the first half of the pandemic period. World Health Organization announced COVID-19 as the emergence of healthcare. Coronavirus is an infectious disease it quickly spreads from person to person; to control the widespread of the virus, the governments had imposed nationwide lockdown and ban on flights. However, with the unlock guidelines by the government everywhere, the market shares have surged.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Analysed |
By Type, Application, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global diagnostic catheter market has been segmented and sub-segmented based on type, application, end-user, and region,
Diagnostic Catheter Market – By Type:
Based on the type, the imaging catheter segment is holding the largest market share over the years. The diagnostic catheters are useful in performing the various diagnostic procedure using different imaging techniques. An increasing number of patients with various health disorders is leveling up the growth rate of the market.
Diagnostic Catheter Market – By Application:
Based on the application, the cardiology segment is accountable for the largest market share during the forecast period based on the application. Cardiology is the application where diagnostic catheters are used for the diagnosis of various disorders. The increasing incidence of cardiovascular diseases drives the cardiac catheter segment, and rising pulmonary disorders worldwide are expected to faster the market growth.
Diagnostic Catheter Market – By End-user:
Based on end-user, the imaging and diagnostic centers segment are leading the market growth. Increasing cardiovascular diseases, rising minimally invasive disorders, growing reimbursement in imaging catheter technology, and improving technological advancements are expected to create the demand for imaging and diagnostic centers.
Diagnostic Catheter Market – By Region:
Geographically, the North American region commanded the largest share of the global market in 2019 and is predicted to be continuing the dominating trend throughout the forecast period. Factors such as an increase in the number of imaging and diagnostic centers and increasing awareness of minimally invasive techniques among the people are expected to drive the market during the forecast period.
The European market is anticipated to hold the majority market share in the diagnostic catheter market. Growing population, increasing the concern about healthcare among the, and improving healthcare infrastructure are anticipated to enlarge the market growth.
The Asia-Pacific market is expected to witness the highest growth during the forecast period due to the rise in Catheter-related infections and cardiovascular disorders. Also, with the growing population, the people in this region are much aware of healthcare. The increase in healthcare expenditure to provide better treatments for the people in these countries influences the diagnostic catheter market's market growth during the forecast period.
Simultaneously, the Latin American Diagnostic Catheter Market was growing at a steady pace and was predicted to worth USD 600 million by 2025.
The Middle East and Africa are estimated to hike at a sluggish rate during the forecast period. The diagnostic catheters market has been holding a better market share over the years with influential growth factors such as increasing geriatric population and availability of healthcare facilities.
KEY MARKET PLAYERS:
Companies playing a leading role in the global diagnostic catheter market profiled in this report are Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Medtronic plc (Ireland), Johnson & Johnson (U.S.), Koninklijke Philips N.V. (Netherlands), B. Braun Melsungen AG (Germany), C.R. Bard, Inc. (U.S.), Cardinal Health, Inc. (U.S.), Edward Lifesciences Corporation (U.S.), and Terumo Corporation (Japan).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 Type
5.1.1 Introduction
5.1.2 Imaging catheters
5.1.2.1 Electrophysiology catheters
5.1.2.1.1 Advanced EP catheters
5.1.2.1.2 Conventional EP catheters
5.1.2.2 OCT catheters
5.1.2.3 Ultrasound catheters
5.1.2.4 Angiography catheters
5.1.2.5 Other imaging catheters
5.1.3 Non imaging catheters
5.1.3.1 Pressure & Hemodynamic monitoring Catheters
5.1.3.2 Temperature monitoring Catheters
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Application
5.2.1 Introduction
5.2.2 Neurology
5.2.3 Urology
5.2.4 Gastroenterology
5.2.5 Cardiology
5.2.6 Others ( Bronchoscopy and Gynaecology)
5.2.7 Y-o-Y Growth Analysis, By Application
5.2.8 Market Attractiveness Analysis, By Application
5.2.9 Market Share Analysis, By Application
5.3 End user
5.3.1 Introduction
5.3.2 Hospitals
5.3.3 Imaging & Diagnostic Centers
5.3.4 Y-o-Y Growth Analysis, By End user
5.3.5 Market Attractiveness Analysis, By End user
5.3.6 Market Share Analysis, By End user
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Application
6.1.3.4 By End user
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Application
6.1.4.4 By End user
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Application
6.1.5.4 By End user
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Boston Scientific Corporation
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 St. Jude Medical, Inc.
8.3 Medtronic plc
8.4 Johnson & Johnson
8.5 Koninklijke Philips N.V.
8.6 B. Braun Melsungen AG
8.7 C.R. Bard, Inc.
8.8 Cardinal Health, Inc.
8.9 Edward LifeSciences Corporation
8.10 Terumo Corporation
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
Appendix
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