Angiographic Catheters Market Sets New Record, Projected at USD 2.32 Billion by 2030 at 6.56% CAGR

Angiographic catheters Market Snapshot

"Angiographic catheters Market is estimated to increase at a CAGR of 6.56% from $ 1.56 Billion in 2023 to $ 2.32 Billion by 2030."

A catheter is a tubular device that permits fluid to enter or exit a blood vessel or anatomical cavity. To view the circulatory system organs, a contrast agent is injected into the body using an angiographic catheter. These catheters could have been designed with ends that permitted selected localization from a distance. A diagnostic catheter that is also used for angiographic operations is known as an angiographic catheter. It distributes medicinal chemicals and radiopaque substances to specified areas of the circulatory system. The market for angiographic catheters will expand at a faster rate due to the increasing prevalence of cardiovascular illnesses. Likewise, the market for angiographic catheters is expanding as a result of sedentary lifestyles, hypertension, and obesity rates. The need for angiographic catheters will increase even more as domestic income levels rise. People can spend more on healthcare due to rising domestic income, and reimbursement policies make it simpler for patients to accept treatments.

The government's increasing efforts to raise public awareness will also have a significant impact on the market growth rate for angiographic catheters. The development of technology is another important aspect contributing to the expansion of the industry. Additionally, the market will develop as a result of an increase in the number of elderly people and their preference for minimally invasive procedures. The market for angiographic catheters will have slower growth due to rising tobacco, alcohol, and drug usage. The expansion of the angiographic catheter market will benefit from the increase in research and development activities. The majority of research and development efforts are focused on a method that pinpoints the exact location of bleeding and can be used for embolization or vasopressin therapy. In addition, the projected growth rate of the angiographic catheter market will be further accelerated by the acceleration of technical advancement in medical devices. With the use of more advanced technology, angiograms give a precise picture of the blood vessels, which has been shown to be advantageous for market expansion.

An allergic response to the unfamiliar substances or medications used during the procedure is one of the hazards associated with catheterization. The angiographic catheter market faces a significant challenge since there may be bleeding, infection, bruising, and blood clots in the capillaries at the catheter attachment site, which can result in a heart attack, stroke, or other serious illnesses. On the other hand, the high cost of angiographic procedures will restrain market expansion. The market for angiographic catheters will also face significant challenges from rigorous government regulations related to product approval. However, during the projection period of 2023–2030, the unusual nature of therapies and their limited availability would act as a restraint and further hamper the growth rate of the market.

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Growth Drivers

In 2022, the cardiology application category accounted for a significant portion of the global market due to the rise in cardiovascular illnesses and the need for minimally invasive diagnostic techniques, such as coronary angiography and peripheral angiography, to effectively detect and treat these prevalent chronic disorders.

The global healthcare industry is experiencing a surge in the demand for precise diagnostic and therapeutic tools, leading to a significant increase in the sales of angiographic catheters, largely influenced by the government's increasing public awareness campaigns.

The angiographic catheter market is expanding due to technological advancements, but its growth may be hindered by high costs of procedures and components, as well as the availability of alternative medicines and catheter-related issues, potentially leading to a decline in the market size.

Restraints

The high cost of angiographic catheters, including the purchase, maintenance, and training of healthcare personnel, may hinder their widespread use due to their high initial and recurring expenses, particularly in areas with limited resources, which may limit access to these advanced technologies.

The medical device industry faces strict safety requirements and regulatory frameworks, causing delays in the introduction of new angiographic catheter technology. Risks such as radiation exposure, contrast agent use, and patient safety during procedures, especially for vulnerable patient populations, also impact the use of these devices.

Segment Analysis

Based on product, the market is segmented into scoring balloon catheters, conventional catheters, drug eluting balloon catheters, cutting balloon catheters. Within the market for angiographic catheters, conventional catheters dominate the product category. Angiography, angioplasty, and embolization are just a few of the diagnostic and interventional techniques that frequently make use of these catheters. Conventional angiographic catheters are made up of a long, thin tube made of flexible plastic or rubber that is put into a blood artery and guided to the desired location using fluoroscopy or other imaging methods. The blood arteries can then be seen on X-ray images after the catheter is used to inject contrast material into the bloodstream.

Based on application, the market is segmented into coronary, endovascular, neurology, oncology. By 2029, the coronary market category is anticipated to hold a sizeable revenue share. Blood is given to the heart muscle by coronary arteries because, like all other bodily tissues, the heart muscle need oxygen-rich blood to function. Plasma that has lost oxygen must also be thrilled. During angiographic surgery, the coronary arteries encircle the heart. The neurology section, on the other hand, is anticipated to expand at a sizable CAGR throughout the projection period. A cerebral angiogram, also referred to as a brain angiography, is an examination that checks the brain's blood vessels and blood flow for problems. These problems can occur in the neurological segment and include bleeding in the brain, a narrowing or blockage of a blood vessel, and bulging in a blood artery, including an aneurysm. In addition, employing X-rays, endovascular techniques aid in the visualization of blood arteries. This section also involves performing native anesthesia in the upper part of the thigh.

Based on end user, the market is segmented into hospital, clinics, ambulatory surgical centers. By 2029, the hospital sector is anticipated to command a sizable revenue portion of the market. A larger healthcare substructure, the availability of a competent workforce, and the cost of the materials used to make catheters are all contributing reasons to the expansion of this market. Another factor influencing the growth of this market is the escalation in an enduring puddle, which is due to a significant increase in the geriatric population suffering from lifestyle ailments like atherosclerosis and heart failure disease and is anticipated to increase hospital income production. But during the projection period, the ambulatory surgical segment is anticipated to expand at a substantial CAGR. Ambulatory surgical procedures include same-day surgical care, which includes defensive and diagnostic procedures with a focus on modern medical comforts. The ambulatory surgical procedure involves performing tonolectomies, hernia repairs, and cataract operations.

Key Companies Profiled             

The angiographic catheters Market Key players include Medtronic, Boston Scientific Corporation, Terumo Medical Corporation, Cardinal Health, Merit Medical Systems, Inc., AngioDynamics, Inc., OSCOR Inc., B. Braun Melsungen AG, InSitu Technologies Inc., BVM Medical Limited, Precision Extrusion Inc., Cardiva, C.R. Brad Inc., Abbott Laboratories, Cook Group.

New Developments

May 27, 2022 Medtronic Announces FDA Approval for IN. PACT 018 PTA Balloon Catheter

Medtronic announced approval from the U.S. Food and Drug Administration (FDA) for the IN.PACT 018 Paclitaxel-Coated Percutaneous Transluminal Angioplasty (PTA) Balloon Catheter, a drug coated balloon (DCB), indicated for the interventional treatment of peripheral arterial disease (PAD) in the superficial femoral and popliteal arteries.

12 July, 2022: B. Braun launched Introcan Safety 2 IV Catheter with One-time Blood Control Designed to make IV access safer for Clinicians.

In Febraury 2022, Teleflex received Food and Drug Adminstration clearence for expanded indication for speciality catheter and coronary guidewire use in crossing chronic total occlusion percutaneous coronary interventions.

Angiographic Catheters Market Regional Analysis

North America dominated the angiographic catheters market in 2022. The area has a strong healthcare infrastructure, which consists of cutting-edge medical facilities, highly qualified healthcare workers, and substantial healthcare spending. Furthermore, the area has a sizable patient base with a high prevalence of chronic illnesses, including cardiovascular conditions, which call for angiography operations and associated equipment like angiographic catheters. Technology improvements that have increased the precision and security of angiography operations, such as the creation of novel imaging modalities and the use of sophisticated catheter materials, are another factor driving the market in North America. Additionally, the region offers a supportive regulatory framework that encourages innovation and financial investment in medical technology.

Asia Pacific will have the angiographic catheters market's fastest growth in 2022. In the Asia Pacific region, chronic disorders including cardiovascular diseases are becoming more common. The need for angiography procedures and associated equipment, such as angiographic catheters, is being driven by this. The area is making significant investments in the facilities for medical research, hospitals, and clinics. The need for medical devices like angiographic catheters is being driven by this investment. In order to increase access to care and patient outcomes, countries in the Asia-Pacific area are boosting their healthcare spending. As a result, there is an increase in investment in medical tools and supplies such angiographic catheters.

Segments Covered in Angiographic Catheters Market

Angiographic Catheters Market by Product

• Scoring Balloon Catheters
• Conventional Catheters
• Drug Eluting Balloon Catheters
• Cutting Balloon Catheters

Angiographic Catheters Market by Application

• Coronary
• Endovascular
• Neurology
• Oncology

Angiographic Catheters Market by End User

• Hospital
• Clinics
• Ambulatory Surgical Centers

Frequently Asked Questions

What is the worth of angiographic catheters market?

The angiographic catheters market is expected to grow at 6.56% CAGR from 2023 to 2030. It is expected to reach above USD 2.32 Billion by 2030 from USD 1.56 Billion in 2023.

What are some of the market's driving forces?

The technological innovation in the field of medical devices along with increasing investments in the healthcare sector are some of the factors that are driving the growth of the global angiographic catheters market.

Which are the top companies to hold the market share in angiographic catheters market?

The angiographic catheters Market Key players include Medtronic, Boston Scientific Corporation, Terumo Medical Corporation, Cardinal Health, Merit Medical Systems, Inc., AngioDynamics, Inc., OSCOR Inc., B. Braun Melsungen AG, InSitu Technologies Inc., BVM Medical Limited, Precision Extrusion Inc., Cardiva, C.R. Brad Inc., Abbott Laboratories, Cook Group.

Which is the largest regional market for angiographic catheters market?

The region's largest share is in North America. Products manufactured in nations like US and Canada that perform similarly and are inexpensively accessible to the general public have led to the increasing appeal.