Diagnostic Catheter Market

Global Diagnostic Catheter Market Size (2024 to 2029)

The global diagnostic catheter market is estimated to be worth USD 6.53 billion by 2029 from USD 4.57 billion in 2024, growing at a CAGR of 7.37% during the forecast period. 

Catheters are thin tubes made of medical-grade materials such as plastic, silicon rubber, polyvinyl chloride (PVC), and nylon inserted into 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 various diagnostic procedures using multiple imaging techniques. These diagnostic catheters are used for several indications in applications such as gastroenterology, neurology, cardiology, urology, and others.

MARKET DRIVERS

Owing to the rise in the number of surgeries and the high demand for minimally invasive procedures, the global market for diagnostic catheters is expected to grow significantly during the forecast period.

The rising number of surgeries performed each day is anticipated to reflect the growing demand for diagnostic catheters, as these devices are commonly used in various surgical procedures. According to National Centre for Biotechnology Information (NCBI), an estimated 310 million surgical procedures are performed yearly. Diagnostic catheters are used in minimally invasive procedures to visualize the inside of the body and diagnose medical conditions. For instance, catheters can be used in endoscopy procedures, where they are inserted through the mouth or anus to examine the digestive or respiratory systems. In addition, catheters can also be used in angiography, in which they are used to visualize the blood vessels and assess blood flow.

In addition, the growth of the global diagnostic catheter market is driven by factors such as the rising geriatric population, increasing chronic diseases, kidney and cardiovascular diseases, and the increasing number of minimally invasive surgeries. According to data published by the World Health Organization (WHO), the ratio of the world's population aged 60 or over is expected to grow from 12% in 2021 to 22% by 2050. Besides, growing reimbursement in imaging catheter technology and improving technological advancements are expected to create demand for these products. Increasing investments by the key market players in R&D, innovations, and new technologies are expected to boost the market's growth rate during the forecast period. Moreover, investments by the government and various private organizations to develop healthcare infrastructure are further expected to accelerate 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 development of the diagnostic catheter market. Furthermore, strict regulatory standards are to be followed to manufacture and receive approval for diagnostic catheters, which is time-consuming and costly and negatively impacts the worldwide market growth. The competition levels in the global diagnostic catheter market are increasing, making it difficult for new entrants to enter and hold occupancy. This intense competition is expected to limit the market’s growth rate from achieving its full potential.

Impact Of COVID-19 On The Diagnostic Catheter Market

COVID-19 has negatively affected all sectors of the economy during the first half of the pandemic period. As a result, the World Health Organization announced COVID-19 as an emergency in healthcare. Coronavirus is an infectious disease that quickly spreads from person to person; governments have imposed nationwide lockdowns and a ban on flights to control the spread of the virus. The COVID-19 pandemic has had a mixed impact on the diagnostic catheter market and the healthcare industry. The disruption of supply chains and the availability of medical devices, including diagnostic catheters, are a few significant setbacks of COVID-19. The COVID-19 pandemic has led to disruptions in the production and distribution of these devices, which further affected the supply and demand for diagnostic catheters. During the COVID-19 pandemic, hospitals and clinics focused completely on treating patients with COVID-19, and almost all the non-emergency treatment procedures were put on hold, including elective surgeries. The sudden decrease in the number of surgeries hampered the demand levels for diagnostic catheters and created a slump in the market’s growth rate for a short period. On the other side, the usage of diagnostic catheters has seen a spike as they were used in remote monitoring due to the increased adoption of telemedicine. During the forecast period, the diagnostic catheter market is expected to register a healthy growth rate with the unlock guidelines by governments everywhere. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Diagnostic Catheter Market Analysis By Type

The imaging catheters segment dominated the global market for diagnostic catheters in 2023. The treatment requirements of patients with chronic diseases, the growing adoption of minimally invasive procedures, and the rapid adoption of advanced imaging technologies propel the segment’s growth. Furthermore, rising demand for early diagnosis and treatment of diseases and rising healthcare expenditure are expected to promote the segment's growth during the forecast period.

Global Diagnostic Catheter Market Analysis By Application

The cardiology segment accounted for the largest share of the global diagnostic catheter market in 2023. Cardiology is the application where diagnostic catheters are used to diagnose various disorders. The increasing incidence of cardiovascular diseases drives the cardiac catheter segment, and rising pulmonary disorders worldwide are expected to foster market growth.

The gastroenterology segment is anticipated to register a healthy growth rate during the forecast period. The usage of diagnostic catheters in gastroenterology treatment procedures is increasing, propelling the segment’s growth. In gastroenterology, diagnostic catheters are used to access and evaluate the digestive tract, including the esophagus, stomach, and small and large intestines.

Global Diagnostic Catheter Market Analysis By End-User

The imaging and diagnostic centers segment led the market in 2023. 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.

REGIONAL ANALYSIS

North America commanded the most significant global market share in 2023 and is predicted to continue the dominating trend throughout the forecast period. Factors such as increased imaging and diagnostic centers and increasing awareness of minimally invasive techniques among people are expected to drive the market during the forecast period. As a result, the U.S. market is anticipated to hold a significant share of the North American region during the forecast period. The diagnostic catheter market in the U.S. is anticipated to be driven by the growing aging population, the growing patient count suffering from chronic diseases, and the presence of key market participants. Companies such as Medtronic, Boston Scientific, and Abbott play a vital role in the U.S. diagnostic catheter market.

Europe is anticipated to hold a substantial share of the global market during the forecast period. Growing population, increasing the healthcare concern, and improving healthcare infrastructure are predicted to enlarge the market growth.

Asia-Pacific 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 more aware of healthcare. Therefore, 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.

Latin America has been growing steadily and is predicted to account for a considerable share of the global market during the forecast period.

The MEA is estimated to hike at 7.25 CAGR during the forecast period. However, the diagnostic catheter market has been holding a better market share over the years with influential growth factors such as the increasing geriatric population and availability of healthcare facilities.

KEY PLAYERS IN THE GLOBAL DIAGNOSTIC CATHETER MARKET

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).

DETAILED SEGMENTATION OF THE GLOBAL DIAGNOSTIC CATHETER MARKET INCLUDED IN THIS REPORT

This research report on the global diagnostic catheter market has been segmented and sub-segmented based on type, application, end-user, and region,

By Type      

• Imaging catheters               
• Non-imaging catheters               

By Application

• Neurology     
• Urology
• Gastroenterology        
• Cardiology   
• Others (Bronchoscopy and Gynaecology)

By End-user

• Hospitals                
• Imaging & Diagnostic Centers 

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa