The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The intravascular catheters market has witnessed rapid growth, surging from $6.76 billion in 2023 to a projected $7.7 billion in 2024, exhibiting a compound annual growth rate (CAGR) of 13.8%. This expansion is attributed to the increased aging population, a rise in cardiovascular diseases, adoption of minimally invasive procedures, healthcare digitalization, and global health initiatives. The market is poised for further acceleration, expected to reach $12.37 billion in 2028 with a CAGR of 12.6%. The anticipated growth in the forecast period is fueled by the growth of precision medicine, sustainable healthcare, expansion of telemedicine, patient education and engagement, and the increased use of intravascular catheters. Notable trends include smart catheters, advanced navigation systems, vascular access in pediatrics, AI-assisted catheter placement, and advancements in non-invasive catheter procedures.

Elevated Hospitalization Rates Driven By Chronic Diseases Fuel Intravascular Catheters Market Growth

• Rising Hospitalization Rates: The Catalyst for Market Expansion

The growth of the intravascular catheters market is propelled by the escalating hospitalization rates attributed to the prevalence of chronic diseases. Intravascular catheters play a crucial role in the treatment of chronic diseases by facilitating sample collection for tests and aiding in the administration of fluids, nutrients, and blood. For instance, Fresenius Medical Care estimates that the number of people suffering from chronic kidney failure is expected to increase from 3.7 million patients in 2021 to 4.9 million by 2025.

• Major Players in the Market

Major companies operating in the intravascular catheters market include Cook Group Incorporated, Smiths Medical Inc., Edwards Lifesciences Corporation, Medtronic Inc., Johnson & Johnson, Abbott Laboratories, and others.

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Innovative Product Offerings Drive Market Advancements In The Intravascular Catheters Sector

• Embracing Innovation: A Key Trend

Innovation in product offerings is a prominent trend in the intravascular catheters market. Leading players focus on developing advanced products to solidify their market position. Notable examples include B. Braun Medical Inc.’s introduction of the Introcan Safety 2 IV Catheter with one-time blood control, enhancing IV access safety by reducing the risk of blood exposure and needle stick accidents. Shockwave Medical Inc. introduced the Shockwave M5+ catheter designed to treat calcified lesions in challenging locations.

• Strategic Acquisition: Prunus Technology and Biosensors International Group

In January 2021, Prunus Technology Co., Ltd., based in Shenzhen, expanded its medical equipment portfolio through the acquisition of Biosensors International Group, Ltd. This strategic move enabled Prunus Technology to venture into central venous catheters, pressure transducers, pulmonary artery catheters, and other medical consumables.

Market Segmentation

The intravascular catheters market is segmented based on several key factors:

1. Product:
   • Short PIVC
   • Integrated/Closed PIVC
2. Application:
   • Oncology
   • Gastroenterology
   • Renal Disease
   • Infectious Diseases
   • Other Applications
3. End-Use:
   • Hospitals
   • Clinics
   • Ambulatory Surgical Center
   • Homecare

Regional Dynamics: North America Leading the Charge, Asia-Pacific Emerging Strong

In 2023, North America emerged as the largest region in the intravascular catheters market. Looking ahead, Asia-Pacific is anticipated to be the fastest-growing region in the forecast period, signifying the evolving dynamics of the global market.

Conclusion

As the intravascular catheters market continues its upward trajectory, driven by factors like rising chronic diseases and innovative product offerings, the industry is poised for transformative advancements. The integration of smart catheters, AI-assisted procedures, and non-invasive techniques will play a pivotal role in shaping the future landscape. With a focus on precision medicine and sustainable healthcare, the market is set to contribute significantly to the evolving landscape of medical interventions and patient care.

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