Global And China Catheter Market, By Product Type (Cardiovascular Catheter, Urology Catheters, Intravenous Catheters, Neurovascular Catheters, Specialty Catheters), By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 46.8 Billion in 2023 and is expected to exhibit a CAGR of 5.1%during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Major players in the market are focused on inorganic strategies such as expansion to enhance its market share. For instance, in February 2021, Medtronic plc, a medical technology company, announced expansion of its limited site release of the recently acquired radial artery access portfolio from Rist Neurovascular, Inc., a neuro-interventional medtech company, which includes the Rist 079 radial access guide catheter and Rist radial access selective catheter. The acquisition of the privately held Rist Neurovascular closed in August 2020. Terms of the acquisition were not disclosed.
Global And China Catheter Global And China Catheter– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global and china catheter market. For instance, in October 2020, rising infection rate, there were a few launches that have contributed to the segment’s stable growth. Furthermore, according to the study titled "Prevalence and associated factors of urinary incontinence in women living in China: a literature review" published in October 2020, there were about 43–349 million Chinese women who had experienced urinary incontinence (UI). The growing prevalence of urinary incontinence and an increasing number of surgical procedures are the major factors driving the demand for urinary catheters, in turn boosting the segment’s growth.
Global And China Catheter Market: Key Developments
On March 17, 2023, Medtronic plc, a medical technology company, has received the CE mark for the Affera Mapping and Ablation System, which includes the Sphere-9 Catheter and the Affera Prism-1 Mapping Software.
On February 22, 2023 Teleflex Incorporated, a provider of medical technologies, announced key milestones in the release of two new catheters: the U.S. Food and Drug Administration (FDA) 510(k) clearance of the Triumph Catheter, and the first clinical use of GuideLiner Coast Catheter.
In February 2020, RIST Neurovascular, Inc., a neuro-interventional medtech company, announced it has received U.S. Food and Drug Administration (FDA) 510(k) clearance to market the RIST Cath Radial Access Long Sheath (RIST Cath) for the introduction of interventional devices into the peripheral, coronary, and neurovascular system. RIST Cath is the first device specifically designed for the unique demands of accessing the neurovasculature through the radial artery in the wrist, enabling the full gamut of neurovascular procedures to be performed transradially.
Browse 36 Market Data Tables and 33 Figures spread through 180 Pages and in-depth TOC on “Global And China Catheter Market”- Forecast to 2030, Global And China Catheter Market, By Product Type (Cardiovascular Catheter, Urology Catheters, Intravenous Catheters, Neurovascular Catheters, Specialty Catheters), By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global And China Catheter Market:
- The global and china catheter market is expected to exhibit a CAGR of 1% during the forecast period. Market players are involved in deploying strategic initiatives, which include product launbches and expansion of distribution networks, among others. For instance, On May 2, 2023, Teleflex Incorporated, a provider of medical technologies, announced it launched two new devices to enhance peripherally inserted central catheter (PICC) insertion procedures and reduce complications. company launched the Arrow VPS Rhythm DLX device and the NaviCurve stylet, both of which Teleflex designed to work together to give vascular access specialists more efficient and predictable PICC placement.
- Among end user, the hospitals is anticipated to hold a significant share in the global and china catheter market during the forecast period. This is due to increasing prevalence of brain aneurysms. For instance, according to the Brain Aneurysm Foundation, in March 2021, globally, approximately 500,000 deaths are caused by brain aneurysms every year, and half of such individuals are aged 50 or below. The annual rate of rupture is around 8-10 people per 100,000 or about 30,000 people in the U.S. Thus, with the increasing prevalence of neurovascular disorders, the demand for neurovascular catheter devices is also anticipated to rise.
- Among region, North America is expected to be the dominant region in the global and china catheter market, owing to the the U.S is expected to dominate the market due to the high government support for medical devices and an increasing number of surgeries. The other factors driving the market growth include the increasing prevalence of urological disorders, cardiovascular disorders, and the rising preference for minimally invasive procedures due to less operative time and fewer complications.According to the American Cancer Society's 2022 statistics, there will be around 81,180 estimated new cases of bladder cancer in Americans in the year 2022. This will lead to increased adoption of catheters during the treatment of bladder cancer, thereby driving the market growth in this region.
- Major players operating in the global and China catheter market are Cordis (Cardinal Health), Abbott Laboratories, B. BRAUN, Medtronic plc, Terumo, Teleflex Corporation, C. R. Bard, Inc., RIST Neurovascular, Inc., Edwards Lifesciences, Cook Medical Incorporated, Merit Medical, Biotronik, BALT, Osypka AG, Japan Lifeline, ACT, Lepu, Microport, SCW Medicath, Boston Scientific Corporation, Coloplast A/S, Convatec Group PLC, Dentsply, Bactiguard, Hollister Incorporated, Pacific Hospital Supply Co. Ltd., Rochester Medical Corporation, Fuqing Medical, Medsuyun, Songhang, Sanli, Chensheng Medical, Haiou Medical, CATHETRIX, and World Medical.
