Press Release

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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