Cardiac Catheters and Guidewires Market to Grow with a CAGR of 7.25% through 2028
Rising cardiovascular disease prevalence
and growing healthcare expenditure are factors driving the Global Cardiac
Catheters and Guidewires Market in the forecast period 2024-2028.
According to TechSci Research report, “Cardiac
Catheters And Guidewires Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Cardiac
Catheters And Guidewires Market stood at USD 13.32 Billion in 2022 and is
anticipated to grow with a CAGR of 7.25% in the forecast period, 2024-2028. The global
cardiac catheters and guidewires market is a critical segment of the medical
device industry, playing a pivotal role in diagnosing and treating
cardiovascular diseases. These essential instruments have witnessed significant
growth in recent years, driven by several market drivers. As the world's
population continues to age, lifestyle-related cardiovascular diseases are on
the rise, leading to an increased demand for innovative and advanced cardiac
catheters and guidewires. One of the most
significant drivers of the cardiac catheters and guidewires market is the aging
global population. As people age, the risk of developing cardiovascular
diseases increases. Cardiovascular diseases, such as coronary artery disease,
valvular heart disease, and arrhythmias, become more prevalent with age. This
demographic trend has fueled the demand for cardiac catheters and guidewires
used in diagnostic and interventional procedures, such as angioplasty and stent
placement.
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Cardiovascular diseases are among the
leading causes of morbidity and mortality worldwide. Lifestyle factors like
poor diet, lack of exercise, and increased stress have contributed to the rise
in cardiovascular diseases. As a result, the demand for cardiac catheters and
guidewires has surged, as these devices are essential for diagnosing and
treating these conditions. Additionally, advancements in medical technology
have led to the development of more effective and minimally invasive cardiac
procedures, further increasing the demand for these devices. The cardiac
catheters and guidewires market has seen significant technological advancements
in recent years. These innovations have enhanced the precision, safety, and
effectiveness of cardiovascular procedures. Some key technological advancements
include improved materials for catheters and guidewires, better imaging
capabilities, and the development of specialized catheters for specific
applications, such as electrophysiology and coronary interventions. The
introduction of robotic-assisted catheterization and navigation systems has
also played a crucial role in driving market growth.
Awareness about the risks associated
with cardiovascular diseases has grown, leading to early diagnosis and
treatment. Timely intervention can prevent complications and improve patient
outcomes. The increased awareness, coupled with advancements in diagnostic
tools, has driven the demand for cardiac catheters and guidewires. Healthcare
professionals are more likely to recommend catheter-based procedures to their
patients for the early detection and treatment of cardiovascular conditions.
The Global Cardiac Catheters And Guidewires Market is
segmented into product, end user and company.
Based on product, the Cardiac catheters segment has
emerged as the predominant market leader.
Advances
in materials and technology have improved the performance of cardiac catheters.
The development of catheters with enhanced imaging capabilities, steerability,
and flexibility has broadened the scope of procedures that can be performed
using these instruments. Cardiac
catheters are now used not only for diagnostic purposes but also for
therapeutic interventions. This expansion of applications has significantly
increased their demand and utilization in the field of cardiology. The global burden of cardiovascular diseases continues
to rise, with heart disease being the leading cause of death worldwide. As a
result, there is an increased need for effective and minimally invasive
treatment options, driving the demand for cardiac catheters.
Based on region, North America segment is expected to
grow during the forecast period. North America boasts a robust
healthcare infrastructure, featuring advanced healthcare facilities,
well-trained healthcare professionals, and a sophisticated reimbursement
system. This infrastructure supports the efficient deployment and utilization
of cardiac catheters and guidewires, ensuring timely access to life-saving
procedures. The United
States and Canada have well-established regulatory bodies, such as the FDA and
Health Canada, which ensure the safety and efficacy of medical devices. A
rigorous regulatory environment fosters trust among healthcare providers and
patients, further strengthening the market's position.
The Asia Pacific region is experiencing rapid market
growth. Numerous companies specialize in the production of cardiac catheters
and guidewires, contributing to a highly competitive market. This competition
drives innovation, resulting in the development of increasingly sophisticated
and effective medical devices.
Major companies operating in Global Cardiac
Catheters And Guidewires Market are:
- Abbott Laboratories inc.
- Boston Scientific Corp.
- Getinge AB
- Biosense Webster, Inc (Part
of Johnson & Johnson)
- Terumo Medical Corp.
- BIOTRONIK SE & Co. KG
- Medtronic plc
- Teleflex Inc.
- Merit Medical Systems
- BrosMed Medical Co., Ltd
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“The global cardiac catheters and guidewires market is
poised for continued growth, thanks to several market drivers. An aging
population, the rising prevalence of cardiovascular diseases, technological
advancements, increased awareness and early diagnosis, growing healthcare
expenditure, and expanding emerging markets are all contributing to the
expansion of this crucial medical device sector. As healthcare continues to
evolve, the demand for advanced cardiac catheters and guidewires is expected to
remain strong, driven by innovation and the need to address the global burden
of cardiovascular diseases.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Cardiac Catheters And Guidewires Market By Product
(Cardiac Catheters (Electrophysiology catheters, PTCA balloon catheters, IVUS
catheters, PTA balloon catheters, Guide extension catheter), Cardiac Guidewires),
By End user (Hospitals & Clinics, Ambulatory Care Centers, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Cardiac Catheters And Guidewires Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Cardiac Catheters And Guidewires Market.
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