San Francisco, 17 January 2024: The Report Catheter Market Size, Share & Trends Analysis Report By Product Type (Cardiovascular, Urology, Intravenous, Neurovascular, Specialty Catheters), By Distribution Channel (Hospital Stores, Retail Stores), By Region, And Segment Forecasts, 2023 - 2030

The global catheter market size is expected to reach USD 85.2 billion by 2030, registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. An increasing number of surgeries due to a rise in the number of chronic ailments such as diabetes, cardiovascular disorders, urological disorders, end-stage renal diseases, and other chronic conditions is expected to increase the adoption rate of catheters, thus driving the market over the forecast period.

COVID-19 is expected to have a positive impact on the market. According to National Center for Biotechnology Information (NCBI) in 2020, during the early stages of the COVID-19 pandemic, the use of both indwelling urinary catheters and Central Venous Catheters (CVC) increased, which is projected to boost market growth. Moreover, several manufacturers offering products such as coated urine catheters with temperature monitoring to ICU patients as a stronger protection against secondary infections, which is expected to boost market growth in the coming years.

Furthermore, technological advancements plays crucial role in fueling the market growth. For instance, miniaturized catheters and introduction of antimicrobial catheters to reduce catheter-associated infections are expected to favor the catheter market growth. MAHURKAR Chronic Carbothane catheter, developed by Medtronic, is made of Carbothane, which facilitates a simple single-insertion technique and ensures superior kink resistance. The catheter delivers high flow rates with low arterial and venous pressures.

The high prevalence rate of chronic disorders leading to hospitalization has fueled the growth of the market. In addition, an increase of midscale catheter manufacturers towards gaining a higher market share as well as a rise in funding by various government bodies toward R&D activities is expected to promote market growth during the forecast period. The COVID-19 is expected to have a positive impact on the market. According to National Center for Biotechnology Information, in 2020, both urinary catheter and central line Standardized Utilization Ratio (SUR) increased during the COVID-19 outbreak.

Catheter regulations include premarket notification submission [510 (k)] and de novo classification, which depend on identification of predicated device, device technology, & indications for use. This classification is based on the degree of risk, which specifies risk profile of a device. The device approval may be rejected if the FDA is unable to find a device substantially equivalent to the legally marketed predicated device.

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An increasing number of surgeries due to a rise in the number of chronic ailments is expected to increase the adoption rate of catheters, which will drive the market growth. However, repeated use of catheters can lead to catheter-associated urinary tract infections (CAUTIs) and central line-associated bloodstream infections (CLABSIs). Patients suffering from chronic disorders usually have weak immune systems and require frequent hospitalization in healthcare facilities. The patients are at high risk of infection due to frequent use of the catheter to access the blood vessels. Therefore, companies introduced antimicrobial catheters to reduce catheter-associated infection and the growing cases of thrombosis. Silver ion and Palindrome HSI heparin-coated antimicrobial catheters by Medtronic are a few notable antimicrobial catheters. Additionally, this type of catheter also helps to reduce the probability of clot formations and microbial colonization on the catheter’s surface. Also, Silver ion or antibiotic coatings are used at the exit site of the catheter or locking the tip with an anti-microbial solution. Thus, the catheters coated with anti-microbial linings are likely to boost the catheter market growth.

Catheter Market Report Highlights

• On the basis of product type, the cardiovascular catheters segment dominated the market in 2022 with the share of a 28.0%. Rise in the prevalence of cardiovascular disorders which in turn, is increasing the demand for interventional cardiac procedures
• Based on the distribution channel, the hospital stores segment dominated the market in 2022 with a share of 53.6% owing to an increase in the number of hospital admission rates and an upsurge in surgical procedures globally
• North America dominated the market with the highest revenue share of 31.8% in 2022 owing to a high incidence rate of chronic disorders as well as the availability of highly skilled physicians in this continent

Furthermore, the growing demand for minimally invasive procedures due to the recent technological innovations is expected to increase the sales of catheters in the market. Use of antimicrobial coating and miniaturized catheters to prevent the cases of restenosis, the reoccurrence of the narrowing of a blood vessel at the later stage can be treated. The peripheral diseases are further interlinked with other chronic conditions such as diabetes. These procedures have higher adoption rates and are becoming standard techniques in general surgery due to the use of advanced technologies and innovative coated catheters available in the market. For instance, the growing demand for angioplasty over conventional surgeries owing to its minimally invasive nature and improved outcomes has gained significant popularity among patients to opt for minimally invasive procedures. This is expected to favor the market growth.

Countries such as U.S. and Canada have witnessed a high prevalence rate of chronic disorders owing to sedentary lifestyles. In addition, the increasing number of patients undergoing surgeries, and rising consumer awareness of minimally invasive surgeries are also contributing to the catheter market growth in these countries. According to CDC, heart diseases account for one in every four deaths in the U.S. Some of the major causes of heart diseases are obesity, poor diet, physical inactivity, excessive alcohol consumption, hypertension, high cholesterol levels, and smoking. About 50% of Americans exhibit at least one of these risk factors. Similarly, as per the IHME data published in 2017, ischemic heart disease was the leading cause of deaths and disabilities in Canada. Thus, growing cases of peripheral artery disease, occlusions in the blood vessels, and awareness of minimally invasive surgeries expand the use of catheters in these countries.

Catheter Market Report Scope

Moreover, with the growing incidence of urological disorders such as chronic kidney diseases and the same being the third most dominant cause of hospital admissions, thereby, there is an increasing need for awareness of the population regarding preventive measures. For instance, Wagner's Chronic Care Model, which puts forward an informed patient to produce productive interactions leading to improved outcomes, offers a theoretical framework on how chronic kidney disease awareness could arise. Thus, such awareness models increase patient-provider communication, as well as individual awareness. This would eventually boost the growth of the market over the forecast period.

List of Key Players in the Catheter Market

• Hollister Incorporated
• Medtronic
• Boston Scientific Corporation
• Edward Lifesciences
• Smith Medical Inc.
• Teleflex Incorporated
• ConvaTec Group Plc
• Cure Medical LLC