Global Intravascular Catheters Market Analysis 2023: Size, Share, And Key Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Intravascular Catheters Global Market Report 2023, the intravascular catheters market is expected to show significant growth in the forecast period.
The global intravascular catheters market has undergone substantial expansion, surging from $5.9 billion in 2022 to $6.66 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 12.8%. Projections hint at sustained growth, with the market expected to reach $10.32 billion in 2027 at a CAGR of 11.6%. This dynamic growth is attributed to a confluence of factors, with rising hospitalization rates and innovative product developments playing pivotal roles.
Hospitalization Surge Driven by Chronic Diseases
- Global Prevalence of Chronic Diseases:
- A surge in chronic illnesses globally is contributing to a higher hospitalization rate.
- Intravascular catheters play a crucial role in the treatment of chronic diseases, facilitating sample collection and fluid, nutrient, and blood intake.
- Estimates by Fresenius Medical Care:
- Fresenius Medical Care estimates a notable increase in chronic kidney failure cases, from 3.7 million patients in 2020 to a projected 4.9 million by 2025.
- The escalating prevalence of chronic diseases is expected to be a significant driver for the intravascular catheters market.
Key Players Shaping the Market Landscape
- Diverse Industry Participants:
- Cook Medical, Medtronic Inc., Abbott Laboratories Inc., and other major players wield influence in the intravascular catheters market.
- These companies contribute significantly to the development and accessibility of intravascular catheters globally.
Product Innovations Spearheading Growth
- Focus on Innovation:
- Product innovations stand out as a key trend in the intravascular catheters market.
- Major players, such as B. Braun Medical Inc., are investing in the development of advanced products to enhance safety and efficacy.
- B. Braun’s Introcan Safety 2 IV Catheter:
- In July 2022, B. Braun Medical Inc. introduced the Introcan Safety 2 IV Catheter, featuring one-time blood control for safer IV access.
- The innovation lowers the risk of blood exposure and needle stick accidents for clinicians.
- Shockwave M5+ Catheter by Shockwave Medical Inc.:
- In March 2022, Shockwave Medical Inc. introduced the Shockwave M5+ catheter, designed for the challenging treatment of calcified lesions in various arteries.
- This innovation addresses the difficulty of treating calcified lesions in lower limbs, providing an advanced solution for healthcare practitioners.
Market Segmentation for Comprehensive Insights
- By Product:
- Short PIVC
- Integrated/Closed PIVC
- By Application:
- Renal Disease
- Infectious Diseases
- Other Applications
- By End-Use:
- Ambulatory Surgical Center
- North America’s Dominance:
- North America emerged as the largest region in the intravascular catheters market in 2022.
- The region’s advanced healthcare infrastructure and high awareness contribute to its market dominance.
- Asia-Pacific’s Growth Potential:
- Asia-Pacific is poised to be the fastest-growing region in the forecast period.
- With increasing healthcare awareness and infrastructure development, the region presents significant opportunities for market expansion.
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The Intravascular Catheters Global Market Report 2023 provides an in-depth analysis on the intravascular catheters market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the intravascular catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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