Global Catheters Market Overview
The Global Catheters Market is projected to grow from USD 23.35 billion in 2023 to USD 40.66 billion by 2030, reflecting a compound annual growth rate (CAGR) of 8.23% during the forecast period.
Catheterization involves inserting a catheter into the bladder to facilitate urine drainage. Various types of catheters exist, such as cardiovascular, neurovascular, urological, and specialized options. These devices serve critical functions, including urine drainage, fluid or medication administration, blood pressure monitoring, and performing complex procedures like angioplasty. Catheters are typically made from materials like plastic, rubber, or silicone and are utilized when patients have difficulty urinating naturally or need bladder drainage before and after surgery. They have transformed patient care by enabling minimally invasive procedures, reducing the need for traditional surgeries, shortening recovery times, and improving patient comfort while maintaining high safety and efficacy standards across various medical fields.
The demand for catheters is increasing, particularly for chronic disease management, due to their less invasive nature, which can help prevent complications, enhance recovery, and reduce hospital stays. In cardiology, catheters have evolved from specialized treatments to standard procedures, impacting multiple medical domains and contributing to the rapid growth of the global catheter market. Innovations like robotics, sensors, and imaging technologies, alongside patient-centric designs, have further advanced this market. For example, Boston Scientific's innovative device for treating atrial fibrillation utilizes a steerable catheter and a cryoablation balloon, marking a significant development in treating this prevalent cardiac arrhythmia.
Key Mergers and Acquisitions in the Catheter Market
- In September 2022, B. Braun acquired Starboard Medical's Clik-FIX® Catheter Securement Devices.
- Ra Medical Systems, Inc. merged with Catheter Precision Inc. in January 2023.
- In June 2023, Merit Medical acquired two dialysis catheter product lines for $132.5 million.
- Medtronic plc purchased Affera Inc. in August 2022.
United States Catheter Market
The United States holds a leading position in the global catheter market, driven by its advanced and well-established healthcare system and a significant aging population, which creates ongoing demand for a variety of catheter types. The U.S. is also a hub for medical innovation, necessitating substantial investments in research and development to advance catheter technologies. The prevalence of chronic illnesses that often require catheter-based treatments further fuels market growth. Stringent regulatory standards and quality assurance practices foster confidence in catheter usage, solidifying the U.S. as a dominant player in the global catheter market.
Competitive Analysis of the Catheter Market
The global catheters market features several key competitors, including Abbott Laboratories, Becton Dickinson and Company, Boston Scientific Corporation, Teleflex Incorporated, Medtronic Plc, Johnson & Johnson, Edwards Lifesciences Corporation, and Stryker Corporation.
Company Developments in the Catheter Market
Abbott Laboratories
- In February 2023, Abbott received major regulatory approvals for its Sensor Enabled™ TactiFlex Ablation Catheter and FlexAbility Ablation Catheter, aimed at treating complex cardiac conditions.
- A clinical trial for Abbott’s Amulet™ LAA Occluder concluded in August 2021, demonstrating its effectiveness compared to Boston Scientific’s Watchman device for patients with high-risk atrial fibrillation (AFib), with both devices showing comparable safety and efficacy.
Becton Dickinson and Company
- In May 2023, BD launched the BD PosiFlushSafeScrub, a new prefilled flush syringe designed to enhance patient care by expediting IV catheter flushing and cleaning, thereby reducing central line-associated bloodstream infections (CLABSIs).
- In November 2023, BD unveiled an innovative ultrasound system to facilitate quicker and more efficient vascular access device insertions.
- BD recently published a peer-reviewed study assessing the efficacy of midline catheters in blood collection, marking a first in the field.
Boston Scientific Corporation
- Boston Scientific announced plans to acquire a majority stake in Acotec Scientific Holdings Limited, a Chinese medical tech firm known for its drug-coated balloons and thrombus aspiration catheters, in December 2022.
- The FDA approved Boston Scientific's FARAPULSETM Pulsed Field Ablation (PFA) System in January 2024 as a treatment option for recurrent symptomatic atrial fibrillation.
- In March 2024, the FDA also cleared Boston Scientific's AGENT™ Drug-Coated Balloon for treating coronary in-stent restenosis in patients with coronary artery disease.
Teleflex Incorporated
- The FDA approved Teleflex's Triumph Catheter in February 2023, which features precise wire advancement and excellent visibility. Seattle's UW Medicine Heart Institute was the first to use the GuideLiner Coast Catheter shortly after.
- In November 2023, Teleflex launched a clinical registry to evaluate the outcomes of using the MANTATM Vascular Closure Device in TAVR surgeries, emphasizing patient selection and vascular access.
- In May 2023, Teleflex introduced the NaviCurve™ Stylet and the Arrow® VPS Rhythm® DLX, designed to enhance PICC insertion and reduce complications, improving the overall PICC implantation process.
Medtronic Plc
- In February 2022, the FDA approved Medtronic’s FreezorXtra Cardiac Cryoablation and Freezor and Focal Catheters for treating juvenile Atrioventricular Nodal Reentrant Tachycardia (AVNRT).
- Medtronic received FDA approval for the PulseSelect Pulsed Field Ablation System in December 2023, marking it as the first PFA technology to treat both paroxysmal and chronic atrial fibrillation.
- The CE Mark was awarded to Medtronic in March 2023 for their Affera™ Mapping and Ablation System with Sphere-9™ Catheter, integrating PFA, RF, and HD mapping for enhanced electrophysiological feedback.
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Johnson & Johnson
- Johnson & Johnson MedTech acquired Laminar, Inc. in November 2023 for an upfront payment of $400 million, potentially supplemented by milestone payments, enhancing its capabilities in treating cardiac arrhythmias.
- The VARIPULSETM Platform from Biosense Webster, a Johnson & Johnson MedTech company, received European CE mark approval in February 2024 for treating recurrent paroxysmal atrial fibrillation (AF), featuring pulsed field ablation (PFA).
- In February 2024, research presented at the 29th Annual International AF Symposium showed that minimizing radiation exposure can maintain long-term patient outcomes during catheter ablation for paroxysmal AFib.
Edwards Lifesciences Corporation
- In February 2024, the FDA approved Edwards Lifesciences’ EVOQUE transcatheter therapy as the first treatment for tricuspid regurgitation.
- During the American Association for Thoracic Surgery conference in May 2023, Edwards Lifesciences presented findings from the COMMENCE study, which highlighted low rates of valve degradation in bioprosthetic aortic valves using RESILIA tissue over an average follow-up of 7.7 years.
Stryker Corporation
- Stryker's ExcelsiusGPS surgical guidance system surpassed Medtronic's StealthStation by employing the proprietary FP8000 camera for enhanced speed and accuracy in surgeries, facilitating complex 2D and 3D procedures. The device is currently operational in five university hospitals after successful testing.
- In December 2022, Stryker opened the Keystone Suite, a Neurovascular lab in Gurgaon, India, equipped with advanced technology and spaces for physician collaboration to enhance stroke care.
Type – Market breakup from 3 viewpoints:
1. TAVR
2. TMVR
3. TPVR
Material – Market breakup from 2 viewpoints:
1. Mechanical tissue
2. Biological tissue
End-User – Market breakup from 3 viewpoints:
1. Hospitals
2. Ambulatory surgical centers
3. Others
Product – Market breakup from 4 viewpoints:
1. Transfemoral approach
2. Transapical approach
3. Transaortic approach
4. Others
Application – Market breakup from 3 viewpoints:
1. Aortic Stenosis
2. Aortic Regurgitation
3. Others
Region – Market breakup from 25 Country viewpoints:
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All companies have been covered from 3 viewpoints:
• Overview
• Recent Development
• Revenue
Company Analysis:
1. Abbott Laboratories
2. Becton Dickinson and Company
3. Boston Scientific Corporation
4. Teleflex Incorporated
5. Medtronic Plc.
6. Johnson & Johnson
7. Edwards Lifesciences Corporation
8. Stryker Corporation
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