Cardiac Catheters and Guidewires Market Size, Share, Industry, Forecast and outlook (2024-2031)

Cardiac Catheters and Guidewires Market is segmented By Product Type (Cardiac Catheters, Cardiac Guidewires), By Application (Balloon Septostomy, Coronary Angioplasty, Catheter Ablation, Left/Right Heart Catheterization), By End Users (Hospitals, Clinics, Ambulatory Surgery Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis 2023-2030

Cardiac Catheters and Guidewires Market Size

The global cardiac catheters and guidewires market reached USD 13.6 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 24.3 billion by 2030. The global cardiac catheters and guidewires market is expected to exhibit a CAGR of 7.7% during the forecast period (2023-2030). Cardiac catheters and guidewires are essential components used in various cardiac procedures to diagnose and treat cardiovascular conditions.

Cardiac catheters are thin, flexible tubes that are inserted into blood vessels and advanced to the heart for diagnostic or therapeutic purposes. These catheters are typically made of biocompatible materials, such as polyurethane or silicone, and come in different shapes and sizes depending on their intended use. 

The rising prevalence of cardiovascular diseases, such as coronary artery disease, heart failure, and arrhythmias, is a significant driver for cardiac catheters. The aging population is more prone to cardiovascular diseases, leading to a higher demand for cardiac catheters and guidewires. Older adults require diagnostic and therapeutic interventions for various cardiac conditions, including coronary artery disease and valvular disorders.

Cardiac Catheters and Guidewires Market Scope

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Cardiac Catheters and Guidewires Market Dynamics

Technology Advancements in Cardiac Catheters and Guidewires are Expected to Drive Vascular Access Devices Market

Advanced imaging technologies have greatly enhanced the visualization of the cardiovascular system during cardiac catheterization procedures. Fluoroscopy, intravascular ultrasound (IVUS), and optical coherence tomography (OCT) provide high-resolution images to guide catheter placement, assess vessel morphology, and aid in decision-making during interventions. These imaging modalities improve accuracy, precision, and patient outcomes.

Minimally invasive techniques have revolutionized cardiac catheterization procedures. Catheters with smaller profiles and improved flexibility enable access to the heart through small incisions or peripheral blood vessels, reducing the need for open-heart surgery. These techniques result in shorter hospital stays, faster recovery times, and reduced post-operative complications.

For instance, on 5th Feb 2023, Teleflex launched a new arrow, VPS rhythm, DLX device, and NaviCurve Stylet in the U.S. The next-generation VPS Rhythm DLX device provides real-time catheter tip location information by using the patient’s cardiac electrical activity. The device is also available with an optional integrated ultrasound featuring a Catheter-to-Vessel ratio tool that promotes standardization in vessel measurement. 

Increasing Number of Clinical Trials on Cardiac Catheters and Guidewires Drives the Growth of the Market

According to ClinicalTrials.gov, on May 19th, 2023, the National Institutes of Health Clinical Center is conducting an interventional study on heart catheterization using magnetic resonance imaging (MRI) fluoroscopy and passive guidewires. The main aim is to conduct left and right heart guidewire catheterization using real-time MRI fluoroscopy in human research subjects already undergoing medically necessary left and right heart catheterization.

Additionally, on 1st April 2023, Barts & the London NHS Trust is conducting a clinical trial on improving patient-reported outcome measures in catheter ablation. This study will assess the feasibility of more frequent HRQL monitoring and its impact on whether it is able to better capture the clinical narrative and quality of life changes of patients with severe heart failure and an ICD. 

High Cost of Surgical Procedures and Cardiac Catheters is Expected to Hamper the Market Growth

Cardiac catheterization procedures can be complex, involving highly skilled medical professionals, specialized training, and sophisticated infrastructure. Surgeons, interventional cardiologists, and the supporting medical team need to undergo extensive training and education to perform these procedures safely and effectively. The cost associated with training, expertise, and maintaining a skilled workforce contributes to the overall cost of surgical procedures.

Cardiac surgical procedures are typically performed in specialized cardiac labs or operating rooms equipped with advanced imaging systems and monitoring equipment. These dedicated facilities require significant investment in infrastructure, maintenance, and operational costs. 

Cardiac Catheters and Guidewires Market Segment Analysis

The cardiac catheters and guidewires market is segmented based on product type, application, end-user, and region.

Owing to the Increasing Prevalence of Cardiovascular Disease, Rising Clinical Trials, the Balloon Septostomy Segment Accounted for Approximately 35.3% of the Cardiac Catheters and Guidewires Market Share

Balloon septostomy is a procedure performed using cardiac catheters and is used to create or enlarge an opening between the atria (upper chambers) of the heart. This procedure is typically carried out in patients with certain congenital heart defects, such as transposition of the great arteries or pulmonary atresia, where there is an abnormal communication or inadequate blood flow between the atria. 

The demand for balloon septostomy catheters is driven by the increasing incidence of congenital heart defects. These defects require intervention to improve blood flow and oxygenation in newborns or infants. The prevalence of such conditions varies geographically, but advancements in diagnosis and increased awareness contribute to a growing patient pool for balloon septostomy procedures.

For instance, on May 27 2022, Medtronic announced approval from the U.S. Food and Drug Administration (FDA) for the IN.PACT 018 Paclitaxel-Coated Percutaneous Transluminal Angioplasty (PTA) Balloon Catheter, a drug-coated balloon (DCB), indicated for the interventional treatment of peripheral arterial disease (PAD) in the superficial femoral and popliteal arteries. 

Cardiac Catheters and Guidewires Market Geographical Share

North America Accounted for Approximately 39.6% of the Market Share in 2022, Owing to the Increasing Research and Development Activities and Well-Established Healthcare Infrastructure

North America plays a significant role in the cardiac catheter and guidewire market and is a major contributor to its growth. North America, particularly the U.S., has a well-developed and advanced healthcare infrastructure. The region is known for its state-of-the-art medical facilities, highly skilled healthcare professionals, and advanced technologies. 

This infrastructure supports the adoption and utilization of cardiac catheters in various cardiovascular procedures. It also has a high prevalence of cardiovascular diseases, including coronary artery disease, hypertension, and heart failure. These conditions often require diagnostic and interventional procedures, such as cardiac catheterization, to assess and treat the cardiovascular system. The increasing incidence of these diseases drives the demand for cardiac catheters in the region.

North America is home to several leading medical device manufacturers and market players in the cardiac catheter segment. These companies invest in research and development activities to introduce innovative catheter technologies, enhance procedural outcomes, and improve patient safety. The presence of these established market players further stimulates market growth.

For instance, on 2nd Feb 2022, as part of its expanding line of electrophysiological products for the international market, Abbott announced two approvals. The business's TactiFlex Ablation Catheter, Sensor Enabled, the only ablation catheter in the world with a flexible tip and contact force sensing, has been granted CE Mark 1 for the purpose of treating patients with unnatural heart rhythms such atrial fibrillation (AFib). The U.S. Food and Drug Administration (FDA) recently granted an additional indication for using Abbott's FlexAbility Ablation Catheter, Sensor Enabled to treat patients with complicated cardiac conditions.  

Source: DataM Intelligence Analysis (2023)

Cardiac Catheters and Guidewires Market Companies

The major global players in the market include Abbott Healthcare Pvt. Ltd., Boston Scientific Corp, Biotronic, Medtronic, Terumo Medical Corporation, Cordis, Teleflex Inc., Nipro, BrosMed Medical co., Merit Medical System among others.

Russia-Ukraine Conflict Analysis

The Russia-Ukraine conflict has had various implications for different industries and sectors, including the healthcare industry. While it is challenging to provide a specific and comprehensive analysis of the impact on the cardiac catheters and guidewires market. The conflict has created geopolitical tensions, border disputes, and trade disruptions between Russia and Ukraine. 

The ongoing conflict has resulted in economic instability in both Russia and Ukraine. Economic downturns and currency fluctuations can have a ripple effect on the healthcare sector, including medical device markets. Reduced purchasing power and budgetary constraints within healthcare systems may impact the demand and procurement of cardiac catheters and guidewires.

During times of conflict, healthcare priorities often shift towards emergency and trauma care, including the treatment of war-related injuries. This shift in focus may result in a reduced emphasis on non-emergency medical procedures, including those requiring cardiac catheters devices. The overall demand for such devices could be impacted as resources are redirected towards more urgent healthcare needs. Therefore, considering the above factors, the global cardiac catheters and guidewires market has been moderately affected by the conflict between Russia and Ukraine.

Key Developments

• On 14th March 2023, Shockwave Medical announced US launch of new Peripheral IVL Catheter. The Shockwave L6 catheter is purpose-built to modify calcification in otherwise difficult-to-treat lesions in large peripheral vessels, including the iliac and the common femoral arteries. The characteristics of the new catheter allow physicians to optimize IVL therapy in large peripheral vessels, which represent over 20% of peripheral interventions performed in the U.S. each year. The Shockwave L6 catheter may also be beneficial when IVL is utilized to facilitate transfemoral access for large bore procedures like TAVR, TEVAR and EVAR to minimize the risks of rupture and dissection.
• On 7th June 2023, Teleflex announced that the company got the FDA clearance for its Wattson temporary pacing guidewire for use in heart procedures. Wattson features dual functionality, supporting both valve delivery and ventricular bipolar pacing. It offers a procedural alternative to help avoid a variety of complications, steps, and costs associated with right ventricular pacing.

Why Purchase the Report?

• To visualize the cardiac catheters and guidewires market segmentation based on the product type, by application, by end-user and by region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of cardiac catheters and guidewires market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players

The global cardiac catheters and guidewires market report would provide approximately 69 tables, 70 figures, and 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies