Catheters Market Size, Share, Trends, Outlook, Growth Opportunities, and Forecast 2023 - 2030

Catheters Market is segmented By Product Type (Balloon catheters, Lumen catheters, Hydrophilic catheters, Steerable catheters, Drug-eluting catheters, Permanent catheters), By Therapeutic Area (Cardiovascular, Urology, Neurology, Pulmonary, Gastroenterology, Gastroenterology, Ophthalmology), By Applications (Drainage, Urine drainage, Pleural drainage, Nephrostomy, CSF drainage, Wound drainage), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030 

Catheters Market Report Overview

[150 Pages Report] The Catheters Market report analyzes the market shares, size, recent trends, future market outlook, and competitive intelligence. Catheters are medical devices used for various medical procedures, including diagnosis, treatment, and monitoring of patients. The market for catheters is driven by increasing demand for minimally invasive procedures, the rising prevalence of chronic diseases, and the growing aging population worldwide. Catheters find applications in various medical specialties, such as cardiology, urology, neurology, and others. The market is witnessing a surge in demand for catheters, particularly in the Asia Pacific region, due to the increasing adoption of minimally invasive surgical techniques. Key players in the Catheters Market include Medtronic Plc, Boston Scientific Corporation, Johnson & Johnson, and other prominent players operating in the market.

The catheters are thin tubes made from medical grade materials, available in varying levels of stiffness depending on the application, and serve a broad range of applications. Medical devices can be inserted into the body to treat diseases or perform a surgical procedure. They can be tailored for gastrointestinal, neurovascular, cardiovascular, urological, and ophthalmic applications by modifying the material.

Catheters Market Scope and Scope and Summary

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Catheters Market Dynamics and Trends

Catheters are primarily driven by the increasing number of surgeries such as cardiovascular, gynecology, ophthalmology, etc., inclination towards minimally invasive surgeries, and technological advancements. According to researchers at the National Institute Of Health in 2017, it has been estimated that 92.1 million adults have at least one form of cardiovascular disease (CVD) and by 2030 43.9% of the U.S. population is projected to have one type of CVD. According to researchers at the National Institute Of Health in 2016, more than 3200 robotics platforms have been installed worldwide in assisting gynecological surgery. However, the increasing rate of CA-UTI (Catheter-associated Urinary Tract Infections) will restrain the catheter industry's growth. The need to develop catheter materials that prevent biofilm formation provides further opportunities for market growth.

Catheters Market Segment and Shares

Cardiovascular catheters are expected to hold the largest share in terms of therapeutic area segment owing to the increasing incidence rates of cardiovascular diseases favoring the growth of cardiovascular interventional procedures. Furthermore, according to the American Heart Association, around 7.5 million cardiovascular intervention surgeries have been performed in the U.S. alone and the growth is increasing due to the technologically advanced products such as stents, guidewires, and PTCA balloons. Urinary catheters are expected to have the highest growth rate during the forecast period due to the increasing demand for people with dysfunctional urinary bladder caused by another diagnosis such as spinal injury, Diabetes, incontinence, etc., and the need for further development to reduce UTIs(Urinary traction infections). The urinary catheter is used to drain the urinary bladder when it cannot be emptied in such cases. According to the Centers for Disease Control and Prevention (CDC), approximately 75% of UTIs caused in hospitals are due to urinary catheters. About 15-25% of hospitalized patients need to use urinary catheters during their hospital stay. Silicone is expected to hold the highest share in the market in the materials segments owing to its inertness which makes it unreactive to body fluids and a range of medical fluids. While polymers are mechanically weak in general which can cause fractures in the catheters. For example, silicones are used in Foley catheters where fractures have been reported, often requiring surgery to remove the tip left in the bladder. 

Catheters Market Geographical Analysis

North America is the dominant share in the global catheter market owing to the presence of well-developed infrastructures, high volumes of catheterization for surgeries, Government support, and high patient awareness in the region.

Higher investment in R&D activities by the government for health care contributes to the growth of North America’s share. Domestically, the US drug industry spends approximately $45 billion annually on R&D. 

According to the Centre for Disease Control and Prevention in 2017, it has been estimated that 2.7-6.1 million in the U.S. have atrial fibrillation, a heart disease that needs surgery.  

Asia-Pacific region is expected to be the fastest-growing market during the forecast period, owing to the growing penetration rates of urology & neurovascular devices and improving healthcare infrastructure in the region.

Catheters Companies and Competitive Landscape

Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with an increased focus on R&D are other ways the leading players improve their market presence. The key players in the market are Boston Scientific, Abbott Laboratories, CardioMed Supplies, Cook Medical, Penumbra, Lepu Medical, Biotronik, Smiths Medical, Stryker Corporation, Nipro Corporation, Teruma Medical, Medica S.P.A, Vyarie Medical, and Becton, Dickinson, and Company.

On 26th April 2019, FDA recalled Miller and Fogarty atrioseptostomy dilation catheters produced by Edwards Lifesciences, an American medical equipment company due to the issues of balloon deflation, fragmentation, and detachments.

On 27th February 2019, Hollister Inc., a healthcare products manufacturer launched the Infyna Chic intermittent catheter adding a new product to the line of female hydrophilic catheter products. The product is used to help provide a high level of discretion and it received CE approval in December 2018.

On 11th May 2018, Lepu Medical, a manufacturer from China, announced its entry into the Indian market through a subsidiary company, Lepucare Vascular Solutions. The products of the company include coronary stents, dilatation balloon catheters, occlusion devices, electrophysiology catheters, pacemakers, etc.

On 23rd March 2018, Smiths Medical announces the launch of the DeltaVen closed system catheter in the U.S. DeltaVen is a development in Peripheral IV Catheters that offers a needle, extension tubing, and also an option for a needleless connecter.