The Cardiac Catheters Guidewires Market is projected to grow from USD 13.89 billion in 2022 to USD 25.54 billion in 2032, at a CAGR of 7% during the forecast period. Factors driving the growth of this market include the increasing prevalence of cardiovascular diseases (CVDs), improvements in minimally invasive surgery, a rising demand for diagnostic and therapeutic treatments, and the growing global geriatric population.
The global prevalence of CVDs is one of the primary factors driving the revenue growth of this market. CVDs, including heart failure, coronary artery disease, and stroke, are one of the leading causes of morbidity and mortality worldwide. The World Health Organization (WHO) estimates that CVDs account for around 17.9 million deaths annually, with this number expected to rise in the future. As a result, there is a growing need for cardiac catheterization treatments to detect and treat these conditions.
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The market is also being driven by improvements in minimally invasive surgery, which have resulted in the development of innovative cardiac catheterization techniques and tools such as cardiac catheters and guidewires.
Key players in the Cardiac Catheters Guidewires Market –
- Abbott Laboratories
- Boston Scientific Corporation
- Braun Melsungen AG
- Cardinal Health Inc.
- Cook Medical
- Cordis Corporation
- Medtronic plc
- Osypka Medical GmbH
- Stryker Corporation
- Terumo Corporation
- Vascular Solutions Inc.
These devices provide access to the heart through a tiny skin incision, eliminating the need for open-heart surgery. This approach results in faster recovery periods, shorter hospital stays, and fewer complications. As a result, the demand for cardiac catheter guidewires is expected to increase in the coming years.
Another key factor driving the growth of the market is the increasing demand for diagnostic and therapeutic treatments. Cardiac catheters and guidewires are needed for diagnostic procedures such as angiography and electrophysiology studies to visualize and move through blood arteries. These devices are also required for therapeutic treatments such as angioplasty and stenting to treat blood vessel obstructions. The rising demand for these procedures, especially in developing nations, is expected to drive the revenue growth of the market.
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The growing global geriatric population is another significant factor driving revenue growth of the market. With age, the risk of developing cardiovascular disease increases, and the use of cardiac catheterization procedures is expected to become more popular in the coming years. Furthermore, rising healthcare costs and increased adoption of innovative medical technology in emerging economies are expected to offer significant development opportunities for market players.
However, factors such as the high costs of cardiac catheterization treatments, a shortage of skilled healthcare workers, and a strict regulatory environment could restrain the revenue growth of the market. Additionally, the COVID-19 pandemic has had an impact on market expansion, with many countries seeing a decrease in the frequency of cardiac catheterization procedures due to temporary hospital and clinic closures, a lack of medical supplies, and fewer patient visits.
Based on product type, the market is segmented into coronary catheters, electrophysiology catheters, PTCA balloon catheters, IVUS catheters, and others. The coronary catheters segment is expected to account for the largest revenue share during the forecast period due to the increasing prevalence of cardiovascular disorders and the growing demand for minimally invasive procedures. The electrophysiology catheters segment is expected to register the fastest revenue CAGR during the forecast period due to rising prevalence of cardiac arrhythmias and increasing demand for minimally invasive procedures. The PTCA balloon catheters segment is also expected to register a significant revenue CAGR due to the rising prevalence of coronary artery disease and the growing demand for minimally invasive procedures.
Based on end-use, the market is segmented into hospitals, specialty clinics, and ambulatory surgery centers. The hospitals segment accounted for the largest revenue share in 2022 due to the increased prevalence of cardiovascular disorders and the growing demand for minimally invasive procedures in hospitals worldwide. The specialty clinics segment is expected to register the fastest revenue CAGR during the forecast period.
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