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.

Current Scenario of the Global Diagnostic Catheter Market 

The diagnostic catheter market has witnessed substantial growth in recent years and is expected to account for significant growth during the forecast period. The growing demand for minimally invasive procedures and the rising prevalence of chronic diseases are boosting the adoption of diagnostic catheters. The escalating prevalence of surgical procedures worldwide, the growing awareness among people regarding the necessity of early diagnosis, and the surge in demand for diagnostic and therapeutic procedures due to the rising incidence of cardiovascular diseases, cancer, and diabetes are fueling the requirement for diagnostic catheters worldwide. 

The diagnostic catheters market is projected to have significant growth over the forecast period due to enhancing technological advancements leading to the development of innovative and advanced diagnostic catheters, as their efficiency provides prominent growth opportunities to the market players. The ongoing research activities and government support for the advancements in the research are allowing the manufacturers to expand the market by introducing efficient and cost-effective diagnostic catheters, which augments the market revenue during the forecast period. 

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 daily is anticipated to reflect the growing demand for diagnostic catheters, as these devices are commonly used in various surgical procedures. According to the 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, which is 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 advancements in catheter technology are expected to boost 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.

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

Cardiology accounted for the most significant global diagnostic catheter market share 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 increasing use of diagnostic catheters in gastroenterology treatment procedures propels 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.

The hospital segment is expected to grow steadily during the forecast period, as growing patient preference and trust in hospitals and the presence of skilled professionals augment its growth. 

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 counts 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 global market share during the forecast period. The growing population, increasing healthcare concerns, and improving healthcare infrastructure are predicted to enlarge the market's 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 global market share during the forecast period.

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

KEY PLAYERS IN THE GLOBAL DIAGNOSTIC CATHETER MARKET

The companies profiled in this report play a leading role in the global diagnostic catheter market. They 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).

RECENT HAPPENINGS IN THE MARKET 

• In May 2023, Abbott received FDA approval for a Tactiflex ablation catheter fortreat abnormal heart rhythm. This catheter is designed to treat patients with atrial fibrillation with a unique flexible electrode tip and contact force. This product launch is expected to expand the company's portfolio in the market. 
• In 2022, B. Braun Melsungen launched Diacan Flex, a single-use safety catheter for peripheral vascular access in extracorporeal blood purification therapy. This product launch is estimated to expand the company's business revenue by enhancing its product portfolio, as this new catheter increases patient comfort while reducing the risk of vascular and needlestick injury. 
• In September 2022, Philips launched Verisight Pro, a real-time 3D intracardiac echocardiography (ICE) catheter which is successfully used to treat patients during minimally invasive image-guided procedures for structural heart diseases at Baptist Health's Miami Cardiac & Vascular Institute in Florida, U.S.
• In August 2022, Medtronic acquired Affera, Inc., which expanded its company's ablation portfolio by including its first-ever cardiac mapping and navigation platform. This platform enabled fully integrated diagnostic, focus pulsed field, and radiofrequency ablation solutions. 
• In February 2022, Teleflex received FDA approval for specialty catheters and coronary guidewires in chronic total occlusion (CTO) percutaneous coronary intervention (PCI) procedures. 

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