Catheters Market Analysis

Catheters Market Analysis

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Based on product, the catheters market is segmented as vascular catheters, urology catheters, intravenous catheters, specialty catheters, and others. The vascular catheters segment held the dominant market share and was valued at around USD 10.2 billion in 2022. This significant market share is owing to several benefits offered by vascular catheters for chronic ailments. Vascular catheters allow for minimally invasive access to the vascular system, reducing the need for open surgical procedures. This minimizes trauma to the patient, reduces pain, and shortens recovery times. Vascular catheters help in diagnostic purposes, such as angiography, where a contrast dye is injected through the catheter to visualize blood vessels and assess blood flow. This further allow healthcare professionals to diagnose and treat a wide range of cardiovascular and vascular conditions, improving patient outcomes, and reducing the need for more invasive surgical procedures.

Moreover, vascular catheters can deliver medications directly to specific areas within the vascular system. This is particularly useful for localized treatment, such as chemotherapy for cancer or anticoagulants to prevent clot formation. As the catheterization procedure continues to increase, the demand for specialized vascular catheters that facilitate these procedures also increases. These catheters allow for enhanced quality of life for the patients by providing reduced complications and lower healthcare costs. Therefore, numerous benefits related to the use of vascular catheters coupled with a surge in cardiovascular ailments will drive the business revenue.

Based on lumen, the catheters market is segmented as single-lumen, double-lumen, triple-lumen, and others. The double-lumen segment accounted for the majority of market share in 2022 and was valued at around USD 9.9 billion. This significant market share is attributable to several advantages offered by double-lumen such as simultaneous access, reduced vascular puncture, and efficient drug administration among others. Double-lumen catheters can reduce the number of vascular punctures required during medical procedures. This is especially beneficial for patients with challenging or fragile veins, as it minimizes the risk of complications, pain, and discomfort associated with multiple needle sticks.

Moreover, the double-lumen catheters have the ability to provide two separate lumens within a single catheter. This enables healthcare providers to perform multiple tasks concurrently without the need for additional catheters or access points. For instance, one lumen can be used for administering medications or fluids, while the other can be used for blood sampling or pressure monitoring. While double-lumen catheters may initially cost more than single-lumen catheters, they can result in cost savings in terms of reduced catheter changes, decreased procedure time, and fewer materials needed.

Based on end-use, the catheters market is segmented into hospitals, ambulatory surgical centers (ASCs), and others. The hospital segment is projected to reach around USD 30.3 billion by 2032. This major market share is due to the surging demand for hospital settings, advanced healthcare infrastructure, and specialized healthcare professionals increasing the patient preference for hospitals. An increasing number of admissions with target disorders due to a sedentary lifestyle and growing awareness regarding the treatment of cardiovascular disorders coupled with the availability of highly skilled healthcare professionals are several other factors fuelling the demand for hospital segment.

Moreover, hospitals provide a wide array of medical services across various specialties, including cardiology, radiology, surgery, urology, critical care, and more. Catheters are essential medical devices used in many of these specialties for diagnostic and therapeutic purposes. Thus, accessibility to better diagnosis and treatment options coupled with the rising prevalence of chronic ailments and related conditions is estimated to propel the segment trends.

North America catheters market and was valued at over USD 7.6 Billion in 2022. This high market share is due to a variety of factors, including an increase in the number of patients suffering from cardiovascular disorders, the presence of significant industry players, and a growing geriatric population base, among others. North America has a strong emphasis on technological advancements, a well-established healthcare infrastructure, and a high burden of chronic diseases, that drives the demand for catheters.

Additionally, favorable reimbursement scenarios and increased healthcare spending related to permanent urinary retention and other urinary tract-related diseases will enhance the business revenue worldwide. There is a growing population of individuals who require the use of catheters to manage various chronic diseases.

The growing geriatric population in North America is adding to a rising demand for healthcare services and products, including catheters. North America has a cutting-edge healthcare infrastructure with the availability of advanced treatments and medical technologies. This includes innovative catheter products and services that are available to patients readily, contributing to the demand for these products and services. There is a growing awareness and emphasis on patient education regarding various chronic ailments.