Intravascular Catheter Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Intravascular Catheter Market Analysis
The intravascular catheter market is expected to register a CAGR of 9.0% over the forecast period.
The COVID-19 pandemic significantly impacted the market studied. Due to the sudden onset of the pandemic, a short-term negative impact was initially seen on the market, owing to the decreased patient visits to hospitals and clinics. However, due to trials by scientists or researchers in intravenous catheterization and associated benefits among COVID-19 patients, the market witnessed considerable growth in the post-pandemic phase. As per a research article published in the Journal of Emergency Nursing in March 2022, when a nonrandomized clinical trial was conducted among COVID-19-infected patients in China, peripheral intravenous catheter (IC) placement using an infrared vein visualizer showed satisfactory results in a shortened procedure time. Thus, these instances during the later phases of the pandemic created a demand for intravenous catheterization, ultimately generating opportunities for the dives among end users. Therefore, even though the market experienced a setback initially due to its satisfactory outcome and clinical significance in the treatment of COVID-19 patients, the demand for the IC increased. Thus, the demand for ICs is expected to continue its stronghold and contribute to market growth over the coming years.
Factors such as increasing cases of target diseases, rapid improvement in IC technology, and a rising number of catheterization laboratories are anticipated to fuel the market growth during the forecast period.
The ICs allow access to the patient's bloodstream easily and reduce the need for needle sticks into the vein. Due to this, ICs have become vital medical devices for managing patients with severe and chronic diseases. The rise in vascular disease and the availability of technologically advanced products with better performance and clinical significance are a few other factors that are accelerating the studied market.
For instance, as per data released by FDA in January 2023, in the United States, heart disease affects more than 1 in 10 adults, or nearly 30 million, every year and is one of the major causes of mortality for people of most racial and ethnic groups. In addition, as per a research study published in Chemical Engineering Journal in April 2022, the increasing rate of hospitalization associated with the elevated prevalence of vascular diseases has accelerated the use of ICs. The ICs allow vascular diagnostics, injection of drug fluids, and delivery of other surgical devices. Hence, the increase in target disease globally is anticipated to increase the demand for ICs and is further expected to contribute to the overall market growth.
Furthermore, the launch of new products and technological advancements are predicted to drive the studied market growth. For instance, in September 2022, Wipro GE Healthcare launched its 'Made in India,' 'AI-powered' Cath lab-Optima IGS 320 to advance cardiac care in India and leverages the GE proprietary AutoRight technology. AutoRight is the first neural network-based interventional image chain featuring artificial intelligence. It automatically optimizes image and dose parameters in real time. Thus, such developments are likely to support market growth.
However, complications and side effects associated with catheters and a lack of reimbursements are predicted to hinder the market's growth.
Intravascular Catheter Market Trends
This section covers the major market trends shaping the Intravascular Catheter Market according to our research experts:
Short Peripheral Intravascular Catheters (PIVC) are Expected to Grow Significantly During the Forecast Period
Generally, a peripheral intravenous catheter (PIVC) is a thin plastic tube inserted into a vein using a needle. A short PIVC is a catheter of reduced length that is inserted in the forearm with its tip in a small-caliber vein. Additionally, short PIVCs are over-the-needle catheters that have a hollow metal needle positioned inside the catheter and are generally inserted in superficial veins. The short PIVCs are often called cannulas, venflons, IVs, or drips. These are used in most clinical settings.
The advantages and benefits associated with the short PIVC are anticipated to gain demand among the end users. As per a study published in NursingOpen Journal in March 2022, when a standardized PIVC audit tool was developed to audit hospitalized patients requiring a PIVC insertion, the majority of audited short PIVC were inserted in a ward (57.6%), operating theatre (18.7%) or Emergency Department (ED) (11.6%) without a need for daily dressing on the insertion site. Thus, the high adoption of the devices is anticipated to contribute to the segment's growth.
Additionally, the engagement of market players in product expansion is another factor that is expected to drive the growth of the segment over the forecast period. For instance, the availability of products such as BD Insyte-N Autoguard straight ICs, 14 mm long and the shortest on the market, accommodates small veins and provides a greater choice of insertion sites. Also, these are recommended for fragile veins and low venous pressure. Thus, the availability of such products in the market is anticipated to create competitiveness among the players and contribute to the segment's growth.
North America is Expected to Hold a Significant Share of the Market
North America is expected to hold a major share of the market, and it is predicted to continue the same growth trend over the forecast period. The major factors fuelling the market growth in the region are the increasing prevalence of chronic diseases and the growing number of product approvals.
Cardiovascular disease is one of the major causes of healthcare burden. According to the January 2023 update by the University of California, cardiovascular disease or disorders of blood vessels is the foremost cause of disability and mortality among men and women in the United States. In addition, as per July 2022 data released by Health Canada, about 1 in 12 (or 2.6 million) Canadian adults age 20 and over live with diagnosed heart disease every year. This high prevalence of diseases is anticipated to increase hospital admissions requiring treatments followed by vascular catheterization and vein access. Thereby, it is expected to drive market growth in the region.
Furthermore, several market players are engaged in implementing strategic initiatives such as product innovations and other activities, which are also contributing to the market's growth in the region. For instance, in April 2022, Shockwave Medical, a California-based company, launched its Shockwave M5+peripheral intravascular lithotripsy (IVL) catheter post receiving a CE mark and Food and Drug Administration (FDA) clearance. In addition, in July 2022, Intravascular Imaging Incorporated launched its 3 Fr NIRF-IVUS (Near-Infrared Fluorescence Intravascular Ultrasound) imaging catheter for human coronary imaging. In collaboration with the Massachusetts General Hospital, the catheter was designed and tested ex-vivo in human coronary arteries and in vivo in preclinical studies. These developments are expected to significantly contribute to the competitiveness in the market, augmenting the demand for ICs within the region. Hence, the market is expected to witness significant growth during the forecast period due to the abovementioned factors.
Intravascular Catheter Industry Overview
The market is highly competitive and comprises many players engaged in activities such as medical device manufacturing, raw material supply, sales and distribution, and many other services. Therefore there is an increase in the number of companies investing in emerging nations that drives the market growth in such regions. The market is also influenced by ongoing mergers and acquisitions among major market players. Boston Scientific Corporation, Becton, Dickinson and Company (C. R. Bard, Inc), B. Barun, Cook Medical, and McKesson Corporation are a few major players.
Intravascular Catheter Market Leaders
-
Boston Scientific Corporation
-
McKesson Corporation
-
Cook Medical
-
Becton, Dickinson and Company (C. R. Bard, Inc)
-
B. Barun
*Disclaimer: Major Players sorted in no particular order
Intravascular Catheter Market News
- January 2023: The Inspira aspiration catheters of Infinity Neuro received CE Mark approval and are available for commercialization in Europe. The Inspira aspiration catheters aim to deliver next-level navigation and aspiration performance and are designed to access targeted vessels easily, quickly restore cerebral blood flow and retrieve clots in patients experiencing acute ischemic stroke (AIS) due to a large vessel occlusion (LVO).
- October 2022: Union Minister for Health and Family Welfare, India, inaugurated South Asia's first state-of-the-art and most advanced model of Cardiac Catheterization Laboratory at DY Patil Medical College, Hospital, and Research Centre in Navi Mumbai. The new Cath lab, equipped with Virtual Simulation Capabilities for Precision Healthcare, aims at providing innovative care and is designed for adult and pediatric patients.
Intravascular Catheter 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 Increasing Cases of Target Diseases Such as Cardiovascular, Urological and Other Diseases
- 4.2.2 Rapid Improvement in Intravascular Catheter Technology
- 4.2.3 Increasing Number of Catheterization Laboratories
-
4.3 Market Restraints
- 4.3.1 Side effects Associated with the Catheters
- 4.3.2 Lack of Reimbursement
-
4.4 Porter Five Forces
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By Product
- 5.1.1 Short Peripheral Intravascular Catheters (PIVC)
- 5.1.2 Integrated/Closed PIVC
-
5.2 By Application
- 5.2.1 Oncology
- 5.2.2 Gastroenterology
- 5.2.3 Cardiology
- 5.2.4 Urology
- 5.2.5 Other Applications
-
5.3 By End User
- 5.3.1 Hospitals and Clinics
- 5.3.2 Homecare Setting
- 5.3.3 Others
-
5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Boston Scientific Corporation
- 6.1.2 Becton, Dickinson and Company (C. R. Bard, Inc)
- 6.1.3 Medline Industries, Inc
- 6.1.4 Cook Medical
- 6.1.5 Edwards Life Sciences Corporation
- 6.1.6 Johnson & Johnson
- 6.1.7 McKesson Corporation
- 6.1.8 Medtronic PLC
- 6.1.9 Smiths Medical
- 6.1.10 Terumo Corporation
- 6.1.11 B. Barun
- 6.1.12 Angiplast Pvt. Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIntravascular Catheter Industry Segmentation
As per the scope of the report, intravascular catheters are found to be thin tubes made of medical grade, which are inserted in the body, especially in the veins, to perform surgeries or treat infectious diseases. Basically, these tubes or medical devices allow the administration of gases, access to surgical instruments, and drainage, along with performing various tasks depending on the patient's condition. The Intravascular Catheter Market is Segmented by Product (Short Peripheral Intravascular Catheters (PIVC) and Integrated/Closed PIVC), Application (Oncology, Gastroenterology, Cardiology, Urology, and Other Applications), End User (Hospitals and Clinics, Homecare Settings and Others), 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 value (in USD million) for the above segments.
| By Product | Short Peripheral Intravascular Catheters (PIVC) | |
| Integrated/Closed PIVC | ||
| By Application | Oncology | |
| Gastroenterology | ||
| Cardiology | ||
| Urology | ||
| Other Applications | ||
| By End User | Hospitals and Clinics | |
| Homecare Setting | ||
| Others | ||
| 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 |
Intravascular Catheter Market Research FAQs
What is the current Intravascular Catheter Market size?
The Intravascular Catheter Market is projected to register a CAGR of 9% during the forecast period (2024-2029)
Who are the key players in Intravascular Catheter Market?
Boston Scientific Corporation, McKesson Corporation, Cook Medical, Becton, Dickinson and Company (C. R. Bard, Inc) and B. Barun are the major companies operating in the Intravascular Catheter Market.
Which is the fastest growing region in Intravascular Catheter Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Intravascular Catheter Market?
In 2024, the North America accounts for the largest market share in Intravascular Catheter Market.
What years does this Intravascular Catheter Market cover?
The report covers the Intravascular Catheter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Intravascular Catheter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Intravascular Catheters Industry Report
Statistics for the 2024 Intravascular Catheters market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Intravascular Catheters analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
