The Global Cardiac Catheters & Guidewires Market size is expected to reach $19 billion by 2028, rising at a market growth of 7.4% CAGR during the forecast period.
Cardiac catheters are a tool that is frequently used in angioplasty, PCI, cardiac catheterization, as well as other interventional procedures. The cardiac catheter aids in determining the existence of valve disease and coronary artery disease as well as monitoring the function of the heart muscle. For operations like angioplasty as well as other interventional procedures, a cardiac catheter is used as the first step. Cardiac catheters and guidewires are frequently employed in the treatment of such illnesses.
Coronary artery disease is treated with a catheter-based interventional procedure. The heart's blood flow is increased during this operation by using a cardiac catheter to clear blocked coronary arteries. Similar to this, doctors typically advise angioplasty for the treatment of peripheral vascular disorders. During this operation, the afflicted artery is examined using a cardiac catheter, which reopens the artery and flattens the blockage in the artery wall.
The development of the industry is ascribed to developments in technology, actions taken by various governments and organizations, and an increase in the prevalence of chronic diseases. The need for cardiac catheters and guidewires is projected to increase due to the rising prevalence of chronic conditions worldwide. After being pushed into the artery till it reaches the blocked coronary artery, the catheter tip is then inserted through the restricted area. After being introduced into the confined region, the balloon is inflated to minimize the obstruction.
The market for cardiac catheters and guidewires is negatively impacted by the COVID-19 outbreak. The number of normal and elective operations, like cardiac catheterization procedural volume, significantly decreased as a result of hospitals being required to make room for potential patients due to COVID-19 emergency cases. Medical supplies are becoming more and more in demand as a result of the afflicted populace. COVID-19 has caused a significant increase in demand for medical goods such as gloves, masks, and protective eyewear. The demand for medical supplies continues to grow among the general public and healthcare professionals due to the increase in COVID-19 cases around the world.
The constantly expanding healthcare infrastructure of various nations throughout the world is one of the key factors boosting the availability of cardiac catheters. Governments across the globe are putting more effort and money into their countries' healthcare infrastructure as a result of the rise in health cancers, diseases, and disorders. Furthermore, the ongoing pandemic that continues to demand the attention and resources of healthcare systems all over the world is forcing the healthcare business to adapt to new problems.
As people's lifestyles around the world change quickly, so does the prevalence of numerous diseases and disorders. Cardiovascular disease is one of the serious conditions that can be brought on by people's changing lifestyles. The main behavioral risk factors for heart disease and stroke include unhealthy eating, physical inactivity, smoking, and problematic alcohol usage. As a result of behavioral risk factors, people may have symptoms including high blood pressure, high blood lipids, high blood sugar, or overweight or obesity.
A diagnostic cardiac catheterization procedure typically carries a risk of serious complications of less than 1% and a mortality risk of less than 0.05%. The complication rate for any patient depends on a number of variables, including the patient's demographics, vascular anatomy, co-existing diseases, clinical presentation, the surgery being done, and the operator's experience. The problems might range from minor ones, like soreness at the catheterization site, to serious ones, like death.
Based on product, the cardiac catheters & guidewires market is segment cardiac catheters and cardiac guidewires. The cardiac guidewires segment acquired a substantial revenue share in the cardiac catheters & guidewires market in 2021. Guide wires are specialized devices used to administer treatments to damaged sections of the coronary artery system, which is the vascular system in charge of supplying the heart muscle with oxygen-rich blood.
Under the cardiac catheters segment, the cardiac catheters & guidewires market is further divided into electrophysiology catheters, PTCA balloons catheters, IVUS catheters, PTA balloons catheters, guide extension catheters, and others. The PTCA balloons catheters segment garnered the substantial revenue share in the cardiac catheters & guidewires market in 2021. When coronary artery disease causes blocked or constrictive coronary arteries, PTCA is done to clear them (CAD). Without requiring open heart surgery, PTCA balloon catheters enables blood to freely flow from the arteries to the heart muscles.
On the basis of end-use, the cardiac catheters & guidewires market is fragmented into hospitals, clinics, and ambulatory surgical centers. In 2021, the hospital segment held the largest revenue share in the cardiac catheters & guidewires market. Since these issues are often treated with angioplasty, PCI, and cardiac catheterization, a rise in cases of these diseases is anticipated to increase the hospital admission rate.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 11.8 Billion |
| Market size forecast in 2028 | USD 19 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 7.4% from 2022 to 2028 |
| Number of Pages | 238 |
| Number of Tables | 374 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the cardiac catheters market & guidewires market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the cardiac catheters & guidewires market with the maximum revenue share. Numerous variables, including increased use of cardiac catheters and guidewire technologies in primary care settings, expanded accessibility, as well as high healthcare spending in nations with effective payment policies, can be credited for this. It is projected that the region would continue to grow as a result of technological advancements and the rising prevalence of chronic diseases.
Free Valuable Insights: Global Cardiac Catheters & Guidewires Market size to reach USD 19 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Abbott Laboratories and Medtronic PLC are the forerunners in the Cardiac Catheters & Guidewires Market. Companies such as Boston Scientific Corporation, Cardinal Health, Inc., B. Braun Melsungen AG are some of the key innovators in Cardiac Catheters & Guidewires Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, Getinge AB, Cardinal Health, Inc., Biotronik SE & Co. KG, Medtronic PLC, Nipro Corporation, Merit Medical Systems, Inc., Teleflex, Inc. and B. Braun Melsungen AG.
By Product
By End User
By Geography
Companies Profiled
The Cardiac Catheters & Guidewires Market size is projected to reach USD 19 billion by 2028.
The Rise in Healthcare Spending are driving the market in coming years, however, Risks Associated with Catheterization restraints the growth of the market.
Abbott Laboratories, Boston Scientific Corporation, Getinge AB, Cardinal Health, Inc., Biotronik SE & Co. KG, Medtronic PLC, Nipro Corporation, Merit Medical Systems, Inc., Teleflex, Inc. and B. Braun Melsungen AG.
The expected CAGR of the Cardiac Catheters & Guidewires Market is 7.4% from 2022 to 2028.
The Cardiac Catheters market acquired maximum revenue share in the Global Cardiac Catheters & Guidewires Market by Product in 2021; thereby, achieving a market value of $15 billion by 2028.
The North America market dominated the Global Cardiac Catheters & Guidewires Market by Region in 2021; thereby, achieving a market value of $7.5 billion by 2028.
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