Rising prevalence of chronic disorders is increasing the burden of urinary tract infections and cardiac anomalies, providing a wide berth for therapeutic catheter sales
Rising prevalence of chronic disorders is increasing the burden of urinary tract infections and cardiac anomalies, providing a wide berth for therapeutic catheter sales
Fact.MR’s global therapeutic catheters market study, an ongoing research project, expects a healthy forecast for FY 2021-22, expected to yield major gains, underpinned by development of numerous therapeutic procedures. Prospects are expected to widen further in the forthcoming decade, as application areas expand across key surgical domains.
Presently, opportunities abound in the urology and cardiovascular therapies. As per the American College of Cardiology, nearly 800,000 deaths occur due to cardiovascular diseases across the US, thus stimulating demand for pulmonary artery catheters. Worldwide, almost 18 million succumb to this debilitating condition, according to the World Health Organization. 80% of these death are due to heart attacks and strokes.
On similar lines, nearly half of all women across the world report having contracted at least one type of urinary tract infection at some point in their lives. Overall annual costs for addressing this disorder exceeds US$ 1 billion annually. Therefore, healthcare providers are incorporating highly advanced treatment approaches, providing therapeutic catheter manufacturers with the opportunity to introduce a wide spectrum of products.
“As the demand for efficient healthcare aggrandizes, manufacturers are incorporating automation in their existing therapeutic catheter product portfolio offerings, equipping them with advanced screening techniques, aiding practitioners in achieving precision based surgeries,” comments the Fact.MR analyst.
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Key Takeaways
- Indwelling urinary catheters are expected to register surging sales amid growing prevalence of urinary tract infections
- Burgeoning cases of obesity to accelerate adoption of cardiovascular therapeutic catheters in the long-run
- Hospitals to remain primary therapeutic catheter end-users, given the increased frequency of chronic ailment surgeries
- Surging cardiovascular ailments to heighten therapeutic catheter usage across the US
- UK to emerge as a lucrative hub for urinary catheter sales, attributed to increasing demand for curbing incontinence
- Germany and France to benefit immensely on the back of rising popularity of smart catheters
- India and China to be major growth levers amid burgeoning pharmaceutical research and development initiatives
Prominent Drivers
- Expanding global geriatric population and the subsequent rise in cardiovascular and urinary disorders to bolster therapeutic catheter sales
- Strengthening of existing healthcare infrastructure is prompting manufacturers to introduce smart catheters for streamlining surgical procedures
- Developing economies hold the key for massive revenue generation prospects, attributed to rising investments in furthering quality healthcare
Key Restraints
- Stringent regulations regarding catheter usage amid rising cases of urinary tract infections is likely to hinder sales
- Incidences of bruising, bleeding and infection at the insertion site discourages reliance on therapeutic catheters for surgical procedures
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Competitive Landscape
Prominent players operating in the therapeutic catheters market include Medtronic, B. Braun Melsungen AG, Boston Scientific Corporation, Medline Industries Inc., Edwards Lifesciences, Cardinal Health, CathRx Ltd., Abbott Laboratories, AV Medical, Bioscience Webster Inc., MicroVention Inc., ICU Medical Inc., Merit Medical Systems and Poly Medicure Limited.
Offering a diverse product portfolio is an important expansion strategy relied upon by some of the aforementioned manufacturers. For instance, Medtronic offers the BarrxTM Focal Catheters in 60 RFA, 90 RFA and Ultra Long RFA ranges respectively. These catheters help achieve procedural flexibility by inducing focal ablation.
Manufacturers also rely on capacity expansion to deepen their penetration across key markets. For instance, in 2018, B. Braun Melsungen AG inaugurated five new medical production facilities in Penang, Malaysia, to augment its infusion therapy devices, surgical instruments and pharmaceutical solutions.
More Insights on the Therapeutic Catheters Market
In its latest report, Fact.MR offers unbiased analysis of the global therapeutic catheters market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (urology therapeutic catheters, cardiovascular therapeutic catheters, neurovascular therapeutic catheters, ophthalmic therapeutic catheters & gastrointestinal therapeutic catheters) and end user (hospitals, clinics, research laboratories, institutes, diagnostic laboratories and homecare settings) across seven regions (North America, Latin America, Europe, CIS & Russia, Japan, APEJ and Middle East & Africa)
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