New York, United States , May 15, 2023 (GLOBE NEWSWIRE) -- The Global Diagnostic Catheters Market Size to grow from USD 4.1 billion in 2021 to USD 6.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period. Asia Pacific is expected to Grow the fastest during the forecast period. A diagnostic catheter is essentially a hollow plastic tube with a diameter of 2-3 mm that is put into the veins and arteries of the arm, neck, and leg while the patient is under anaesthesia. This apparatus is used to perform angiography, take blood samples, and measure blood pressure inside heart chambers. Silicone rubber, nylon, polyvinyl chloride (PL), and plastic are some of the materials used to make catheters.
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The development of sophisticated imaging catheters, an increase in imaging and diagnostic centres, and the rising frequency of cardiovascular disorders are all factors driving the growth of the worldwide diagnostic catheters market. OCT imaging catheters are becoming more and more common in the field of intravascular diagnostics and imaging. The effective use of OCT imaging in numerous investigative domains, such as cardiology, has led to an increase in the usage of OCT imaging catheters by medical professionals for diverse investigative indications. Diagnostic catheters are also employed in a variety of examinations that include different imaging techniques. With the introduction of new technology, the market began to experience rapid expansion. In several medical specialties, including urology, cardiology, neurology, gastrointestinal medicine, and others, diagnostic catheters are frequently utilised.
One of the biggest environmental issues around the world is medical waste. As a result, a number of nations have already begun to take specific actions to decrease the quantity of medical waste that is generated. Reusable diagnostic catheters are now being used by many healthcare facilities to conduct procedures and research. The demand for novel diagnostic catheters has decreased as a result of all these considerations. Cost-cutting and the adoption of alternative diagnostic catheters are other reasons that are limiting market growth overall.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Diagnostic Catheters Market Size, Share, and COVID-19 Impact Analysis, By Type (Imaging Catheters, Non-Imaging Catheters), By Application (Cardiology, Urology, Neurology, Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here:
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Neurology and cardiology segment hold the largest market share over the forecast period.
On the basis of application, the global diagnostic catheter market is segmented into cardiology, urology, neurology, and others. Among these, the neurology and cardiology segment are anticipated to hold the largest market share over the forecast period. The rise in the prevalence of pulmonary and cardiovascular diseases worldwide is blamed for the surge in the demand for cardiac catheters. Additionally, as technology advances, particularly in the areas of software and radio technology, diagnoses can be made more quickly and conveniently.
Imaging catheter segment is dominating the market with the largest market share.
On the basis of type, the global diagnostic catheter market is segmented into imaging catheters and non-imaging catheters. Imaging catheters are further sub segmented into angiography catheters, ultrasound catheters, OCT catheters, electrophysiology catheters. Non-imaging catheters are further sub segmented into pressure and hemodynamic monitoring catheters and temperature monitoring catheters. Among these, imaging catheter segment is dominating the market over the forecast period.
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North America is dominating the market with the largest market share over the forecast period
Due to the increased frequency of cardiovascular illnesses, the expansion of diagnostic and imaging facilities, and growing consumer awareness of minimally invasive procedures, North America will continue to dominate the market with the biggest market share over the projection period. By 2023, it is expected that the market in this area would be worth USD 983.5 million.
On the other hand, Asia Pacific is predicted to experience the fastest market growth over the forecast period because of the rise in cardiovascular issues and catheter-based infections. The Middle East, Africa, and Latin America's slow adoption of new technology are the other region responsible for the regional growth in Asia Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Diagnostic Catheters Market include Boston Scientific Corporation, St. Jude Medical, Inc., Medtronic, Johnson & Johnson, Koninklijke Philips N.V., B. Braun Melsungen AG, C. R. Bard, Inc., Cardinal Health, Inc., Edwards Lifesciences Corporation, Terumo Corporation and among others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Diagnostic Catheters Market based on the below-mentioned segments:
Diagnostic Catheters Market, Type Analysis
- Imaging Catheters
- Angiography Catheters
- Ultrasound Catheters
- OCT Catheters
- Electrophysiology Catheters
- Non-Imaging Catheters
- Pressure and Hemodynamic Monitoring Catheters
- Temperature Monitoring Catheters
Diagnostic Catheters Market, Application Analysis
- Cardiology
- Urology
- Neurology
- Others
Diagnostic Catheters Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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