Catheters Market Trends and Revenue, Industry Report, 2024-2032
Catheters Market Trends and Revenue, Industry Report, 2024-2032

Catheters Market Share, Size, Trends, Industry Analysis Report, By Product Type (Cardiovascular Catheters, Urology Catheters, Intravenous Catheters, Neurovascular Catheters); By Lumen; By Material; By End-Use; By Region; Segment Forecast, 2024- 2032

  • Published Date:Mar-2024
  • Pages: 117
  • Format: PDF
  • Report ID: PM1132
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

Global catheters market size was valued at USD 53.67 billion in 2023. The market is anticipated to grow from USD 56.76 billion in 2024 to USD 99.30 billion by 2032, exhibiting the CAGR of 7.2% during the forecast period

Catheters Market Overview

A catheter is a medical device inserted into a vessel, duct, or cavity in the body. Catheters serve functional purposes such as facilitating the administration of gas or fluid, draining bodily fluids, and providing access to surgical instruments. Catheterization refers to the use of catheters in medical procedures. Depending on the treatment requirements, catheters may be left in the body either temporarily or indefinitely. Major applications of catheters include neurological, urological, and cardiovascular therapy.

  • For instance, in March 2024, Boston Scientific Corporation announced that its AGENT Drug-Coated Balloon (DCB) had received approval from the U.S. Food and Drug Administration (FDA). This device is intended to treat in-stent restenosis (ISR) in patients with coronary artery disease, which occurs when a stented vessel becomes blocked or narrowed by plaque or scar tissue.

Catheters Market Size

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The increasing prevalence of diabetes and cancer patients, coupled with continuous technological advancements leading to the introduction of new catheter types, are the primary drivers of the global catheter market growth. Furthermore, the market is expected to be propelled by the increasing demand for minimally invasive surgeries in emerging markets during the forecast period. The high adoption rate of catheters in ambulatory care centers and technological innovations aimed at helping patients manage specific side effects of catheter use will also contribute to the catheter market growth throughout the projection period.

Additionally, a minimally invasive procedure known as catheterization is commonly employed to unblock arteries as part of peripheral artery disease (PAD) treatment. Patients are increasingly opting for angioplasty procedures over traditional surgery, driving the demand for such interventions. Peripheral angioplasty has gained popularity in the past decade due to its minimally invasive approach and enhanced outcomes. The rising preference for minimally invasive procedures can also be attributed to recent technological advancements, including the use of small catheters and antimicrobial coatings to lower the risk of restenosis.    

Catheters Market Dynamics

Market Drivers

The frequency of chronic illnesses

The global incidence of chronic diseases such as diabetes, renal disease, urinary tract issues, and cardiovascular disease is increasing. Catheters play a vital role in managing and treating these conditions. With the global population aging, there is a growing need for medical treatments and care among older individuals. Moreover, advancing age is associated with a higher likelihood of developing illnesses that may necessitate catheterization. As the elderly population grows, the necessity for catheters is also on the rise. Healthcare providers and manufacturers are focusing on creating innovative and personalized products to meet the specific needs of patients with chronic diseases, aiming to address the growing demand for catheters market development. As the global prevalence of chronic diseases continues to increase, the need for ongoing monitoring, management, and care, often involving the use of catheters, will drive the catheters market expansion during the projection period.

Rising rates of cardiovascular illnesses

The global increase in rates of cardiovascular diseases is a major factor fueling the growth of the catheter industry. According to the American Heart Association, cardiovascular diseases were expected to account for nearly 19 million deaths worldwide in 2020. Additionally, it was estimated that 244 million individuals globally had ischemic heart disease (IHD) in 2020. The prevalence and mortality of cardiovascular diseases have risen due to significant shifts in behavioral risk factors, including poor diet, reduced physical activity, increasing tobacco use, and excessive alcohol consumption. The increasing incidence of cardiovascular diseases is expected to lead to longer hospital stays and more medical procedures, driving the wider adoption of catheters.

Market Restraints

Possibility of difficulties is likely to impede the market growth

Using catheters, especially indwelling ones, can lead to several problems and adverse outcomes. Given the potential risks associated with catheter use, healthcare providers should explore treatment or administration alternatives that reduce the need for catheterization. Infections related to catheter use are a major concern. Complications such as urinary tract fragment migration, urethral strictures, and urinary stones can arise from catheter use. Bloodstream complications may include blood clot formation, vein irritation, and blood vessel blockage due to debris or clots. These catheter-related risks are likely to hinder the growth of the targeted catheters market development during the projection period.

Report Segmentation

The market is primarily segmented based on product type, lumen, material, end-use and region.

By Product Type

By Lumen

By Material

By End-Use

By Region

  • Cardiovascular Catheters
  • PTA Balloon Catheters
  • Electrophysiology Catheters
  • PTCA Balloon Catheters
  • IVUS Catheters
  • Urology Catheters
  • Peritoneal Catheters
  • Foley Catheters
  • Intermittent Catheters
  • External Catheters
  • Hemodialysis Catheters
  • Intravenous Catheters
  • Central Venous Catheters
  • Midline Peripheral Catheters
  • Peripheral Catheters
  • Specialty Catheters
  • Thermodilution Catheters
  • IUI Catheters
  • Wound/Surgical Catheters
  • Oximetry Catheters
  • Neurovascular Catheters

 

  • Single-Lumen
  • Double-Lumen
  • Triple-Lumen

 

  • Silicone Catheters
  • Polyurethane Catheters
  • Latex Catheters
  • Others
  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Homecare Settings
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Catheters Market Segmental Analysis

By Product Type Analysis

  • The specialty catheters segment is projected to grow at the fastest CAGR during the projected period. The market for specialty catheters segment is expected to expand due to the rising incidence of target diseases and the increasing preference for minimally invasive procedures, driven by a greater number of regulatory approvals. For instance, Teleflex Incorporated received approval from the U.S. FDA in February 2022 for its specialized catheters designed to navigate Chronic Total Occlusion (CTO) during Percutaneous Coronary Intervention (PCI). Specialty catheters feature fewer surfaces, reduced friction, and less irritating materials, enhancing patient comfort and compliance, especially in cases requiring long-term catheterization.
  • The cardiovascular catheters segment led the industry market with a substantial revenue share in 2023. The cardiovascular catheter market development is expected to experience accelerated growth in the forecast period, driven by factors such as the increasing prevalence of cardiovascular diseases, the growing demand for interventional cardiac procedures, and the rising acceptance of cardiac catheters. For instance, data from the American College of Cardiology in July 2023 revealed that more than 12 million people in the United States and nearly 200 million people worldwide are affected by peripheral artery disease (PAD). The increasing incidence of cardiac conditions such as coronary artery disease, congenital cardiac abnormalities, and cardiac arrhythmias contributes to the growing demand for these catheters. As the prevalence of these diseases rises, there is a growing need for more diagnostic and interventional procedures. Cardiovascular catheters play a crucial role in performing these minimally invasive procedures.

By Lumen Analysis

  • The double-lumen segment accounted for the largest market share in 2023 and is likely to retain its position throughout the catheters market forecast period. The significant market share of double-lumen catheters can be attributed to several benefits they offer, such as efficient medication administration, reduced need for vascular punctures, and simultaneous access. The use of double-lumen catheters can decrease the number of vascular punctures needed during medical treatments. This is particularly advantageous for individuals with fragile veins, as it reduces the likelihood of complications, irritation, and discomfort from repeated needle sticks.

Moreover, double-lumen catheters feature two separate lumens within a single catheter, eliminating the need for additional catheters or access sites and enabling healthcare providers to perform multiple tasks simultaneously. For instance, one lumen can be used for administering fluids or medications, while the other can be used for measuring blood pressure or collecting blood samples. Although double-lumen catheters may have a higher initial cost compared to single-lumen catheters, there may be financial benefits over time due to reduced material requirements, fewer catheter changes, and shorter treatment durations.

By End-Use Analysis

  • Based on end-user analysis, the market has been segmented on the basis of Hospitals, Ambulatory Surgical Centers, Specialty Clinics and Homecare Settings. The hospitals segment held a dominant catheters market share in revenue in 2023. The substantial market share in hospitals is attributed to patients increasingly selecting hospitals for their advanced healthcare infrastructure, specialized medical staff, and the growing need for hospital settings. Factors driving demand in this segment also include increasing awareness of cardiovascular treatments, higher admissions for related ailments due to sedentary lifestyles, and the availability of highly skilled healthcare professionals. Hospitals provide a wide array of medical treatments across various specialties, including critical care, radiography, surgery, cardiology, and urology. Catheters are essential medical devices in many of these specialties, used for both diagnostic and therapeutic purposes. Consequently, the segment is expected to be driven by the increasing prevalence of chronic diseases and associated conditions, as well as improved access to advanced diagnosis and treatment options.

Catheters Market Regional Insights

The North America region dominated the global market with the largest market share in 2023

The North America region dominated the global market with the largest market share in 2023 and is expected to maintain its dominance over the anticipated period. Several factors contribute to the growth of the catheter market development in North America. These include an aging population, increasing rates of chronic illnesses, and the positive impact of major manufacturers such as Boston Scientific Corporation, Medtronic, and Teleflex Incorporated on regional prosperity. Additionally, the presence of renowned healthcare facilities, favorable government regulations, growing public awareness, and a significant number of highly skilled healthcare personnel all play a role in fostering this growth. Greater awareness among patients and healthcare professionals about the importance of early diagnosis and treatment of chronic diseases could positively impact the demand for catheters. According to the CMS (Centers for Medicare & Medicaid Services), health spending in the United States is anticipated to reach 7.5% of GDP in 2022 and surpass $1 trillion in 2023. Additionally, a significant portion of the catheters market opportunity is influenced by skilled professionals and high discretionary income in developed economies.

The Asia Pacific region is expected to be the fastest growing region with a healthy CAGR during the catheter market forecast period. The significant prevalence of cardiovascular and kidney disorders, along with the advancement of medical facilities and the availability of insurance plans, explains this phenomenon. Regional growth is further supported by expanding government partnerships, a rising number of surgeries, and an expanding range of medical devices. Additionally, the region's commercial dynamics are influenced by an increase in government initiatives. For instance, in July 2022, the Asia Pacific Society of Infection Control issued recommendations on preventing catheter-associated urinary tract infections (CAUTIs). The primary objective of this program is to help healthcare facilities in the Asia Pacific region maintain high standards of infection control and prevention by offering clear, actionable guidance. These guidelines focus on the treatment and management of patients requiring urinary catheters. Moreover, the catheters market growth has significant potential for regional expansion due to the large number of patients and the increasing demand for advanced yet affordable healthcare solutions.

Competitive Landscape

The catheters market is indeed fragmented, with competition driven by the presence of several players. Major service providers in the market are continually upgrading their technologies to maintain a competitive edge, ensuring efficiency, integrity, and safety. These players focus on partnerships, product upgrades, and collaborations to gain an advantage over their peers and capture a significant market share.

Some of the major players operating in the global market include:

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Becton Dickson and Company,
  • Boston Scientific Corporation
  • ConvaTec Group Plc
  • Cure Medical LLC
  • Edward Lifesciences
  • Hollister Incorporated
  • Johnson & Johnson Inc.
  • Medtronic
  • Smith Medical Inc.
  • Teleflex Incorporated
  • Manfred Sauer
  • Stryker Corporation
  • Dentsply Sirona Inc.

Recent Developments

  • In October 2023, B. Braun launched the Introcan Safety 2 IV Catheter, which includes multi-access blood control features. This design aims to protect clinicians every time the hub is accessed.
  • In October 2023, Linear Health Sciences announced that the Orchid SRV Safety Released Valve had received approval from the U.S. FDA. This catheter is intended for use in all IV access procedures and is designed to reduce the risk of IV catheter rupture and repair in hospitals.
  • In May 2023, Abbott was granted FDA approval for its Tactiflex ablation catheter, which is intended for the treatment of abnormal heart rhythms. This catheter features a distinctive flexible electrode tip and contact force sensing, making it suitable for patients with atrial fibrillation. The introduction of this product is expected to enhance the company's market position.  

Report Coverage

The Catheters market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.

The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, product type, lumen, material, end-use and their futuristic growth opportunities.

Catheters Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 56.76 billion

Revenue forecast in 2032

USD 99.30 billion

CAGR

7.2% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Product Type, By Lumen, By Material, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

FAQ's

The Catheters Market report covering key segments are product type, lumen, material, end-use and region.

Catheters Market Size Worth $99.30 Billion By 2032

Catheters Market exhibiting the CAGR of 7.2% during the forecast period

North America is leading the global market

key driving factors in Catheters Market are • Rising rates of cardiovascular illnesses