Cath Lab Services Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 52.16 Billion |
| Market Size (2029) | USD 67.15 Billion |
| CAGR (2024 - 2029) | 5.18 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cath Lab Services Market Analysis
The Global Cath Lab Services Market size is estimated at USD 52.16 billion in 2024, and is expected to reach USD 67.15 billion by 2029, growing at a CAGR of 5.18% during the forecast period (2024-2029).
Several countries were placed on lockdown in the early days of the pandemic, influencing the studied market. Even though the COVID-19 pandemic was far from over, many cath laboratories took control of the harm done to internal quality-assurance procedures and some patient outcomes during the previous two years. For instance, as per the report published by TCTMD in May 2022, cath labs tried to get back on track with quality measures along with increased hospitalizations, identify the areas of weakness, and develop plans to reengage personnel, which is expected to gain growth in the market over the coming years.
Factors driving the market growth include the increasing prevalence of cardiovascular disorders and technological advancements. An increasing patient pool of cardiovascular diseases (CVDs) is one of the prime factors augmenting the growth of the cath lab services market. Sedentary lifestyles, junk food consumption, and mental stress are other key factors associated with developing CVDs. For instance, according to the British Heart Foundation's report published in April 2023, 7.6 million people, 4 million males and 3.6 million females, in the United Kingdom live with heart and circulatory diseases. With the rise in the aging population worldwide, the number of patients suffering from heart disorders is likely to increase, which is a cause for concern. This will lead to increased adoption of cath lab services, thereby expected to drive the growth of the studied market.
Furthermore, establishing new cath labs in various hospitals increases the services, which is expected to significantly impact the market. For instance, in March 2022, Kumaran Hospitals & Rela Institute launched an Artificial Intelligence-based Cath lab in Chennai, India. The Innova IGS 5 with Auto Right, with advanced visualization & multipurpose applications, provides fine image details simultaneously on cross-sections and volume-rendered to help visualize vessels, small devices, and soft tissues. Thus, all the above factors, like the high burden of cardiovascular diseases and new cath lab establishment, increase the demand for cath lab services, likely boosting market growth.
However, the need for proper reimbursement systems with high operating and maintenance costs is expected to hinder the market's growth over the forecast period.
Cath Lab Services Market Trends
Therapeutics Segment is Expected to Hold the Significant Share in the Market Over the Forecast Period
The therapeutics segment is expected to have a significant share in the market growth during the forecast period owing to the adoption of interventional procedures like atherectomy, percutaneous coronary intervention, stenting, and thrombectomy. In addition, the increasing preference for robot-assisted surgeries is expected to increase the cath lab treatments, likely boosting segment growth.
For instance, in February 2023, Galway conducted a robot-guided coronary intervention in Ireland and the United Kingdom. This technology is used in stent procedures usually performed in the cardiac cath lab to relieve heart artery blockages. Similarly, in March 2023, Apollo Hospital stated that it had crossed the landmark of over 10,000 robotic surgeries. In the last two years, the group has witnessed over 400% increase in robotic-assisted procedures performed across its hospitals in India. This shows the increasing preference for robot-assisted surgeries, which likely increases the cath lab services for treatment and is expected to grow significantly in the segment.
Moreover, the new installations of active Cath labs help manage cardiac complications, which is expected to grow in the segment. For instance, in December 2021, Royal Philips completed the 1000 active Cath lab (interventional suite) installations in India for better health outcomes, patient experience, staff experience, and lower cost of care. Thus, the abovementioned factors are expected to drive the therapeutics segment growth over the forecast period.
North America is Expected to Have Significant Growth in the Market Over the Forecast Period
North America is expected to have a significant share of the cath lab service market owing to the well-established healthcare industry, the growing burden of cardiovascular diseases, rising healthcare expenditure, and increasing preference for robotic-assisted surgeries. For instance, in February 2023, the Public Health Agency of Canada stated that they had invested USD 5 million to support the Canadian Heart Function Alliance to address the burden of heart failure in Canada. These new investments help care for cardiac patients through cath lab services, which likely boost the market growth in the region.
In the United States, Good Samaritan Medical Center in Florida and PeaceHealth Sacred Heart Medical Center in River Bend, Alaska, are some of the players that provide diagnostic services. In addition, introducing new technologies in the cath lab is expected to increase the services, thereby contributing to the region's growth. For instance, in April 2023, advanced technologies like intravascular lithotripsy and digital intravascular ultrasound (IVUS) were introduced in Mary Lanning Healthcare (MLH) Cath Lab, making the lab a state-of-the-art option.
Moreover, the new cath lab service expansion in the clinics helps the market to grow over the study period. For instance, in October 2022, a cardiac catheterization lab will likely be included in the new clinical services building as part of the Cape Breton Regional Municipality Health Care Redevelopment project. Thus, all the above factors will likely positively influence the target market growth in the forecasted period.
Cath Lab Services Industry Overview
The market for cath lab services is moderately competitive with various global and local companies. The global market players grab a major market share, and a few local companies also focus on delivering these services to the people. Some of the key players in the market include Alberta Health Services, Campbell Country Health, Inhealth Group, Ramsay Healthcare, PeaceHealth, PRHC Foundation, and Canyon Vista Medical Center, among others.
Cath Lab Services Market Leaders
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Alberta Health Services
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Alliance Medical
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PeaceHealth
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Campbell County Health
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Inhealth Group
*Disclaimer: Major Players sorted in no particular order
Cath Lab Services Market News
- March 2023: St. Isabel’s Hospital in Mylapore, India, launched its cath lab, which offers 24/7 interventional cardiology services to patients and caters to cardiac emergencies.
- March 2023: Royal Philips and the Gibraltar Health Authority signed a long-term strategic partnership, continuing their long-standing relationship and marking ambitions to advance radiology and cardiology patient care. As part of the agreement, building a brand-new interventional cardiac suite (cath lab) will commence later in 2023.
Cath Lab Services Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increase in Incidence of Cardiac Diseases
- 4.2.2 Increasing Preference for Robot-Assisted Surgeries
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4.3 Market Restraints
- 4.3.1 High Operating and Maintenance Cost
- 4.3.2 Reimbursement Issue
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Type of Service
- 5.1.1 Therapeutics
- 5.1.2 Diagnostics
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Alberta Health Services
- 6.1.2 Alliance Medical GmbH
- 6.1.3 Campbell County Health
- 6.1.4 Inhealth Group
- 6.1.5 El Camino Health
- 6.1.6 Ramsay Health Care UK
- 6.1.7 PeaceHealth
- 6.1.8 PRHC Foundation
- 6.1.9 Canyon Vista Medical Center
- 6.1.10 Medtronic
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cath Lab Services Industry Segmentation
As per the scope of the report, a catheterization lab, commonly known as a cath lab, is an examination room in a hospital, clinic, or diagnostic center where several types of tests and procedures like ablation, angiogram, angioplasty, implantation of pacemakers, etc. are performed. The Cath Lab Services Market is segmented by Type of Service (Therapeutics and Diagnostics) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the market size and forecasts in value (USD) for the above segments.
| By Type of Service | Therapeutics | |
| Diagnostics | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Cath Lab Services Market Research FAQs
How big is the Global Cath Lab Services Market?
The Global Cath Lab Services Market size is expected to reach USD 52.16 billion in 2024 and grow at a CAGR of 5.18% to reach USD 67.15 billion by 2029.
What is the current Global Cath Lab Services Market size?
In 2024, the Global Cath Lab Services Market size is expected to reach USD 52.16 billion.
Who are the key players in Global Cath Lab Services Market?
Alberta Health Services, Alliance Medical, PeaceHealth, Campbell County Health and Inhealth Group are the major companies operating in the Global Cath Lab Services Market.
Which is the fastest growing region in Global Cath Lab Services Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Cath Lab Services Market?
In 2024, the North America accounts for the largest market share in Global Cath Lab Services Market.
What years does this Global Cath Lab Services Market cover, and what was the market size in 2023?
In 2023, the Global Cath Lab Services Market size was estimated at USD 49.46 billion. The report covers the Global Cath Lab Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Cath Lab Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cathlab Sales and Service Industry Report
Statistics for the 2024 Cathlab Sales and Service market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cathlab Sales and Service analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
