The global deflectable catheters market is projected to expand at a CAGR of 3.9% from 2022 to 2029. Sales of deflectable catheters currently stand at a valuation of USD 1.8 Billion, and are estimated to reach a market valuation of USD 2.4 Billion by 2029.
| Attribute | Details |
|---|---|
| Deflectable Catheters Market Size (2022) | USD 1.8 Billion |
| Projected Market Value (2029) | USD 2.4 Billion |
| Estimated Market Growth Rate (2022 to 2029) | 3.9% CAGR |
| Market Share of Hospitals (2022) | 54.7% |
Shipments of deflectable catheters account for a 9.8% revenue share of the global catheter market. Rising preference for minimally-invasive procedures and high incidence of cardiovascular diseases across the world are expected to be the main factors driving market expansion.
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| Particulars | Details |
|---|---|
| H1, 2021 | 3.91% |
| H1, 2022 Projected | 3.86% |
| H1, 2022 Outlook | 3.26% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 60 ↓ |
| BPS Change – H1, 2022 (O) - H1, 2021 | (-) 65 ↓ |
The comparative analysis and market growth rate of the global deflectable catheters market as studied by Future Market Insights will show a negative BPS growth in the H1-2022 outlook as compared to H1-2022 projected period by 60 BPS, and, a decline in BPS growth is expected in H1-2022 over H1- 2021 duration with 65 Basis Point Share (BPS).
The market is subject to medical device regulations, in accordance with macroeconomic and industrial standards.
The market experienced a decline in the BPS values associated with the inherent device limitations such as its size and limited trackability, and infusion limitations, causing a shift in product preference.
Moreover, a large number of reported occurrences of catheter-associated urinary tract infections (CAUTI) have further restrained patient preference towards the product.
However, with the introduction of steerable catheters, the market is likely to observe a positive growth outlook over the forecasted years. The key developments in the market include the introduction of the cobra catheter for complex surgical interventions.
The world has seen a substantial rise in cardiovascular disorders, and this has spawned major demand for multiple cardiovascular treatments. Consumption of deflectable catheters rose at a CAGR of 3.8% from 2014 to 2021.
The increasing prevalence of peripheral artery diseases, growing geriatric population, increasing preference for minimally invasive surgeries, rapid advancements in catheters, and rising number of cardiovascular surgeries are major factors that guide the sales of deflectable catheter systems.
With cardiovascular diseases becoming one of the prime causes of death across the world, demand for better and more effective treatments has also bolstered amidst this. Government initiatives are focusing on increasing awareness of these cardiovascular disorders and investments to further advance research and development of novel treatment products.
Complications associated with the use of catheters, risk of myocardial infections, and allergic reactions are expected to hinder deflectable catheter sales to a certain extent over the forecast period. However, these drawbacks are being addressed by research and the development of better catheters free from the aforementioned risks.
The deflectable catheters industry is projected to progress steadily at a CAGR of 3.9% from 2022 to 2029.
Increasing Prevalence of Cardiovascular Disorders to Boost Sales of Deflectable Catheters
The world has seen a substantial increase in the incidence of cardiovascular diseases over the past few years which has subsequently influenced the consumption of deflectable catheters. Increasing research and development activity for cardiovascular diseases is propelling demand for innovative products to cover most applications.
Increasing Availability of Microcatheters
Microcatheters have seen a substantial rise in popularity recently and are expected to see rapid development over the forecast period as well. The increasing use of microcatheters is majorly influenced by their key characteristics such as 3D navigation and mirrored workability.
With this widening scope of application, investments in the research & development of microcatheters are expected to see a prominent rise through 2029.
As these advanced microcatheters are developed, their scope of use for deflectable catheters is also expected to increase and subsequently drive market potential.
China & India to Emerge as Highly Rewarding Markets in the Asian Region
Deflectable catheter demand analysis for regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA) has been discussed in this FMI study.
The North American deflectable catheters market is expected to account for the largest market share and is projected to maintain this stance through 2029. The presence of key deflectable catheter manufacturers and well-established healthcare infrastructure are expected to be prime drivers for deflectable catheter shipments in this region.
The Europe deflectable catheter products market is expected to exhibit steady growth in demand over the forecast period. Rising focus on healthcare, increasing medical research and development activities, and a rising geriatric population is anticipated to be major trends in this region.
Deflectable catheter consumption in the regions of South Asia and East Asia is anticipated to see a substantial increase over the forecast period. The increase in demand for deflectable catheters can be attributed to factors such as developing healthcare infrastructure, increasing prevalence of cardiovascular disorders, and increasing healthcare spending potential. China and India are expected to emerge as prime markets in these regions.
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Rapidly Developing Healthcare Infrastructure to Provide Lucrative Opportunities for Deflectable Catheter Providers
India has seen a rise in instances of cardiovascular disorders over the past few years, and this is expected to continue through 2029. Increasing sedentary lifestyles, poor eating habits, rising geriatric population, increasing healthcare spending, and rising popularity of minimally invasive cardiovascular procedures are projected to guide deflectable catheter consumption over the forecast period.
Deflectable catheter manufacturers can focus on India to discover untapped potential in this nation and increase their overall sales revenue.
Increasing Incidence of Cardiovascular Ailments to Propel Deflectable Catheter Consumption
The USA has been battling some major health issues over the past few years that have been massively influencing public health trends in the nation. The nation has seen a substantial increase in the prevalence of obesity which has led to a significant increase in cardiovascular disorders.
Increasing healthcare spending, rising availability of treatment options, and increasing preference for minimally invasive surgeries are some major factors that govern demand for deflectable catheters in the USA
Hospitals Account for Majority of Deflectable Catheter Sales; Demand from Catheterization Labs to Soar Going Forward
Currently, hospitals account for 54.7% of the global deflectable catheter demand and are anticipated to maintain a dominant stance throughout the forecast period, since most cardiovascular treatment procedures require a hospital setting and the presence of medical professionals. However, sales of deflectable catheters are expected to see a rapid increase as demand from independent catheterization labs increases.
In 2022, independent catheterization labs account for 30.7% of the global deflectable catheter market landscape. The number of independent catheterization labs is increasing and is expected to be a prominent trend through 2029.
Office-based clinics and ambulatory surgical centers hold market shares of 2.2% and 12.5%, respectively, in the global deflectable catheters industry.
Deflectable catheter providers are investing in enhancing the deflectable functionality of catheters and stents to optimize cardiovascular procedures.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | Units for Volume, USD Million for Value |
| Key Regions Covered |
North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, India, Indonesia, Malaysia, Singapore, Australia, New Zealand, Turkey, South Africa, and GCC Countries |
| Key Market Segments Covered |
Product Type, Application, End User, Region |
| Key Companies Profiled |
Medtronic Plc.; Merit Medical Systems; Biosense Webster Inc.; Teleflex Incorporated; Boston Scientific Corporation; Biomerics LLC; OSYPKA AG; Abbot; Japan Lifeline Co.; CathRx Ltd.; Biotronik SE & Co. KG. |
The global deflectable catheters market is valued at USD 1.8 Billion in 2022.
Shipments of deflectable catheters are projected to increase at a CAGR of 3.9% from 2022 to 2029.
By 2029, deflectable catheter sales are anticipated to rake in a net worth of USD 2.4 Billion.
Biosense Webster Inc., Teleflex Incorporated, Boston Scientific Corporation, Biomerics LLC, OSYPKA AG, Abbot, Japan Lifeline Co., CathRx Ltd., and Biotronik SE & Co. KG are key market players that have been profiled in this research.
In 2022, the hospital segment held a mammoth share of 54.7% in the global deflectable catheter industry.
| Estimated Size, 2024 | USD 2,861.0 million |
|---|---|
| Projected Size, 2034 | USD 5,436.8 million |
| Value-based CAGR (2024 to 2034) | 6.6% |
| Estimated Size in 2024 | USD 4.32 billion |
|---|---|
| Projected Value in 2034 | USD 8.02 billion |
| Value-based CAGR from 2024 to 2034 | 6.4% |
| Estimated market Value (2022) | USD 3.0 billion |
|---|---|
| Estimated market Value (2032) | USD 5.3 billion |
| CAGR (2022 to 2032) | 5.7 % |
| Market Size (2022) | USD 1.8 Billion |
|---|---|
| Projected Market Value (2029) | USD 2.4 Billion |
| Estimated Market CAGR (2022 to 2029) | 3.9% |
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Deflectable Catheters Market
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