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Specialty Catheters Market Size
Specialty Catheters Market size was valued at around USD 6.4 billion in 2023 and is estimated to grow at 8.7% CAGR from 2024 to 2032. The increasing prevalence of cardiovascular diseases (CVDs) worldwide is a primary driver for the market.
With conditions such as coronary artery disease, heart failure, and arrhythmias affecting millions of people globally, the demand for specialty catheters used in diagnostic and interventional cardiology procedures has surged considerably in the last few years.
For instance, according to the World Health Organization, an estimated 17.9 million people died from cardiovascular diseases (CVDs) in 2019, representing around 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. As healthcare systems strive to meet the growing demand for cardiovascular care, the need for advanced catheter technologies for procedures such as angiography, angioplasty, and electrophysiology studies continues to rise, driving the global market for specialty catheters.
Specialty catheters are medical devices designed for specific diagnostic or therapeutic purposes in various medical procedures. This includes oximetry, wound catheters, etc. that meet the unique needs of specialized medical interventions.
What is the size of specialty catheters industry?
Specialty catheters market size was valued at USD 6.4 billion in 2023 and is estimated to grow at 8.7% CAGR from 2024 to 2032, owing to the increasing prevalence of cardiovascular diseases (CVDs) worldwide.
Why is the demand for specialty catheters growing in hospitals?
The hospitals segment in the specialty catheters industry will generate USD 7.9 billion by 2032, as hospitals are equipped to perform complex medical procedures and interventions.
Mention the key players involved in specialty catheters industry?
Abbott, B Braun, Bioptimal International Pte. Ltd., Deroyal, Dyna Medical, Edward life science corporation, Hollister incorporated, ICU medical, Medline, Merit Medical Systems, Inc., Prunus Medical and Teleflex
How big is the North America specialty catheters industry?
North America specialty catheters market size accounted for USD 2.1 billion in revenue in 2023, driven by the rising prevalence of chronic diseases, such as cardiovascular diseases, diabetes, and kidney disorders.