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Diagnostic Catheter Market: Overview
The term catheters refers to narrow tubes that measure around 2 mm to 3 mm in diameter that are made up of medical grade material like polyvinyl chloride (PVC), plastic, nylon, and silicon rubber and these are inserted inside the body of a patient for the purpose of diagnosis and therapy. Catheterization refers to a primary co-procedure that is performed with many other medical procedures like urethral catheterization, neurosurgery, cardiac electrophysiology, and angioplasty.
For example, diagnostic cardiac catheterization can be utilized for the purpose of collection of blood sample, measurement of blood pressure inside heart chambers, and conducting angiography (X-ray imaging of blood vessels that makes use of radiographic contrast materials).
Taking into consideration of the international vendor scenario, the international market for diagnostic catheter can be considered as moderately fragmented with the market players focusing on strategically important partnerships, collaborations, mergers, and acquisitions.
Diagnostic Catheter Market: Trends and Opportunities
The world market for diagnostic catheter is encouraged by numerous factors like increase in the prevalence of chronic disorders like increase in geriatric population, increased number of minimally invasive surgeries, and kidney and cardiovascular disorders. In addition to that, increase in technological advancements and the reimbursement in imaging catheter technology are anticipated to encourage market growth of the world market for diagnostic catheter. The demand for diagnostic catheters is quite high owing to their localization and mapping capabilities. Companies are coming up with latest technologies so as to drive the revenue of the said market through higher sales. The emphasis on the introduction of cost-effective product lines depend on the requirement of end-users’.
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The world market for diagnostic catheter could be divided on the basis of type of product, application, end-user, and geography. Tasking the segment of type of product into consideration, the market for diagnostic catheter could be bifurcated into non-imaging and imaging catheters. Imaging catheters can further be sub-segmented into OCT catheters, angiography catheters, electrophysiology (EP) catheters, ultrasound catheters, and others. The category of non-imaging catheters could be sub-divided into pressure & hemodynamic monitoring catheters and temperature monitoring catheters. In the category of application into consideration, the world market for diagnostic catheter can be segmented into gastroenterology, neurology, urology, cardiology, and others. On the basis of end-user, the said market can be bifurcated into imaging centers and hospitals and diagnostic.
Diagnostic Catheter Market: Geography
The international market for diagnostic catheter can be divided into five major geographies of Middle East & Africa, Latin America, North America, Asia Pacific, and Europe. The region of North America held the largest share of the world market for diagnostic catheters. The region is trailed by Europe, Asia Pacific, and the region of Middle East & Africa. The growth of the said market in the region of North America is attributed to the increase in the occurrences of cardiovascular disorders, rise in the number of imaging and diagnostic centers, and augmented consciousness about minimally invasive techniques. The diagnostic catheters market in Asia Pacific is expected to rise at a fast pace owing to the rise in the number of cases pertaining to catheters associated infections and cardiovascular disorders. The said market in Latin America and Middle East & Africa is also anticipated to experience moderate amount of growth over the period of forecast owing to slow adoption of latest technologies.
Diagnostic Catheter Market: Company Profiling
Major market participants that are operating in the world market for diagnostic catheters are Terumo Corporation, St. Jude Medical, Inc., Boston Scientific Corporation, Koninklijke Philips N.V., C. R. Bard, Inc., Johnson & Johnson, Medtronic, Edward Lifesciences Corporation, B. Braun Melsungen AG, and Cardinal Health, Inc.