As per insights by Fact.MR, the global market for diagnostic imagining catheters is projected to grow at a CAGR of 6%, totaling US$ 6 Bn by the end of 2031.
Growing prevalence of cardiovascular diseases among geriatric population is a primary factor propelling the growth of th ultrasound catheters market. The market will continue gaining from rising demand for minimally invasive surgeries.
Manufacturers are focusing on research and development activities to introduce cost-effective and technologically advanced product line-ups to push market sales. Besides this, recent advancements in imaging catheters will continue spurring sales prospects through the assessment period.
Also, significant rise in the number of imaging and diagnostic centers is creating lucrative prospects for growth. Among various applications, cardiology segment is estimated to account for the largest market share. This can be attributed to increasing incidence of cardiovascular diseases and rising cases of pulmonary disorders across the globe.
Improving scope for application of Optical coherence tomography (OCT) in investigative fields of medicine such as cardiology has resulted in large adoption of OCT imaging catheters by doctors for various diagnostic indications. This is expected to create a conducive environment for growth.
Regionally, North America will remain a highly lucrative market driven by rising cases of cardiovascular diseases, growing awareness about minimally invasive surgeries and rise in the number of diagnostic and imaging centers.
“Increasing technological innovations in imaging catheters are likely to contribute to the growth of the diagnostic catheters market. Besides this, increasing focus on research and development activities coupled with new product offerings will cater largely to the market growth,” says a Fact.MR analyst.
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Key Takeaways from Pressure & Hemodynamic Monitoring Catheters Market Survey
- Due to continued surge in cardiovascular disorders, the North America market for diagnostic catheters is anticipated to grow at a healthy CAGR over the forecast period.
- Driven by increasing awareness regarding invasive surgeries, Asia Pacific market is likely to register fastest growth.
- The Middle East & Africa is forecast to exhibit sluggish growth owing to slow adoption of latest technologies.
- Backed by rapid technological advancements in imaging catheters, China is forecast to reach a valuation of US$ 1.2 Bn by the end of 2031.
- The global market for diagnostic catheters is poised to expand at 6% CAGR over the assessment period 2021-2031.
- Increasing incidence of cardiovascular diseases is driving the market growth.
- Growing technological innovations in imaging catheters are boosting the market sales.
- Medical waste associated with diagnostic catheters is expected to hinder the market growth.
- High adoption of reusable diagnostic catheters is restricting the market growth.
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Diagnostic catheters manufacturers are increasingly focusing on acquisition, collaborations and expansion strategies to gain a strong foothold in the market. They are also offering new product launches to enhance their product portfolio.
For instance, in 2019, Cordis, a Cardinal Health Company unveiled the full U.S. launch of its RADIAL 360 portfolio. With this launch Cordis continues to expand interventional cardiology portfolio.
In 2020, Johnson & Johnson announced the launch of its new robot-assisted surgery system that offers unrivalled control and flexibility in surgery.
Some of the leading players operating in the diagnostic catheters market profiled by Fact.MR are:
- Terumo Corporation
- St. Jude Medical
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- C. R. Bard
- Johnson & Johnson
- Edward Lifesciences Corporation
- B. Braun Melsungen AG
- Cardinal Health
More Valuable Insights on Diagnostic Angiography Imaging Catheters Market
Fact.MR, in its new report, offers an unbiased analysis of the global sports diagnostic catheters, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on diagnostic catheters market with detailed segmentation:
- By Product
- Diagnostic Imaging Catheters
- Diagnostic Ultrasound Catheters
- Diagnostic Angiography Catheters
- Diagnostic Electrophysiology Catheters
- Diagnostic OCT Catheters
- Diagnostic Non-imaging Catheters
- Temperature Monitoring Catheters
- Pressure & Hemodynamic Monitoring Catheters
- Diagnostic Imaging Catheters
- By Application
- Diagnostic Catheters in Cardiology
- Diagnostic Catheters in Urology
- Diagnostic Catheters in Neurology
- Diagnostic Catheters in Gastroenterology
Key Questions Covered in the Temperature Monitoring Catheters Market Report
- The market survey also highlights projected sales growth for diagnostic catheters market between 2021 and 2031
- The report offers insight into diagnostic catheters demand outlook for forecast period 2021-2031
- Diagnostic catheters market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Diagnostic catheters market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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