The global catheter market size was valued at USD 48.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. The high prevalence rate of chronic disorders leading to hospitalization has fueled the growth of the market. In addition, an increase of midscale catheter manufacturers towards gaining a higher market share as well as a rise in funding by various government bodies toward R&D activities is expected to promote market growth during the forecast period. The COVID-19 is expected to have a positive impact on market. According to National Center for Biotechnology Information, in 2020, both urinary catheter and central line Standardized Utilization Ratio (SUR) increased during the COVID-19 outbreak.
From 0.88 before the COVID-19 pandemic to 0.92 during the outbreak, the central line SUR increased by 4.9%. SUR of urinary catheters increased by 7.4% during the pandemic, from 0.79 before COVID-19 to 0.84 after COVID-19. This is projected to boost market growth over the forecast period. Moreover, the pandemic has brought attention to the critical need for infection prevention.
As a result, several manufacturers are developing products such as coated urine catheters with temperature monitoring for ICU patients as a stronger protection against secondary infections, which is expected to boost market growth. For instance, in February 2021, Health Canada has approved Bactiguard's urine catheter with temperature sensor for infection prevention. COVID-19 prompted the approval because Bactiguard's catheters can lower the incidence of secondary infections in critically ill patients, boosting market growth.
An increasing number of surgeries due to a rise in the number of chronic ailments is expected to increase the adoption rate of catheters, which will drive the market growth. However, repeated use of catheters can lead to catheter-associated urinary tract infections (CAUTIs) and central line-associated bloodstream infections (CLABSIs). Patients suffering from chronic disorders usually have weak immune systems and require frequent hospitalization in healthcare facilities. The patients are at high risk of infection due to frequent use of the catheter to access the blood vessels. Therefore, companies introduced antimicrobial catheters to reduce catheter-associated infection and the growing cases of thrombosis. Silver ion and Palindrome HSI heparin-coated antimicrobial catheters by Medtronic are a few notable antimicrobial catheters. Additionally, this type of catheter also helps to reduce the probability of clot formations and microbial colonization on the catheter’s surface. Also, Silver ion or antibiotic coatings are used at the exit site of the catheter or locking the tip with an anti-microbial solution. Thus, the catheters coated with anti-microbial linings are likely to boost the catheter market growth.
Furthermore, the growing demand for minimally invasive procedures due to the recent technological innovations is expected to increase the sale of catheters in the market. Use of antimicrobial coating and miniaturized catheters to prevent the cases of restenosis, the reoccurrence of the narrowing of a blood vessel at the later stage can be treated. The peripheral diseases are further interlinked with other chronic conditions such as diabetes. These procedures have higher adoption rates and are becoming standard techniques in general surgery due to the use of advanced technologies and innovative coated catheters available in the market. For instance, the growing demand for angioplasty over conventional surgeries owing to its minimally invasive nature and improved outcomes has gained significant popularity among patients to opt for minimally invasive procedures. This is expected to favor the catheter market growth.
Countries such as U.S. and Canada have witnessed a high prevalence rate of chronic disorders owing to sedentary lifestyles. In addition, the increasing number of patients undergoing surgeries, and rising consumer awareness of minimally invasive surgeries are also contributing to the catheter market growth in these countries. According to CDC, heart diseases account for one in every four deaths in the U.S. Some of the major causes of heart diseases are obesity, poor diet, physical inactivity, excessive alcohol consumption, hypertension, high cholesterol levels, and smoking. About 50% of Americans exhibit at least one of these risk factors. Similarly, as per the IHME data published in 2017, ischemic heart disease was the leading cause of deaths and disabilities in Canada. Thus, growing cases of peripheral artery disease, occlusions in the blood vessels, and awareness of minimally invasive surgeries expand the use of catheters in these countries.
Moreover, with the growing incidence of urological disorders such as chronic kidney diseases and the same being the third most dominant cause of hospital admissions, thereby, there is an increasing need for awareness of the population regarding preventive measures. For instance, Wagner's Chronic Care Model, which puts forward an informed patient to produce productive interactions leading to improved outcomes, offers a theoretical framework on how chronic kidney disease awareness could arise. Thus, such awareness models increase patient-provider communication, as well as individual awareness. This would eventually boost the growth of the market over the forecast period.
The cardiovascular catheters segment dominated the market and accounted for the largest revenue share of 28.0% in 2021 owing to a rise in the prevalence of cardiovascular disorders which in turn, is increasing demand for interventional cardiac procedures. This coupled with the increasing adoption of cardiac catheters is expected to boost segment’s market growth. This segment is further sub-segmented into four categories where Percutaneous Transluminal Coronary Angioplasty (PTCA) balloon catheter is the dominant sub-segment with above 30.0% market share in 2021.
However, the specialty catheters segment is expected to witness the highest compound annual growth rate (CAGR) of 6.9% from 2022 to 2030 owing to its increasing preference by physicians. Increasing demand for minimally invasive procedures, coupled with rising prevalence of target diseases, are expected drive the growth of the market for specialty catheters during the forecast period. Moreover, technological advancements by the key players in this sector is also anticipated to drive the segment growth. For instance, Medtronic’s Arctic front advance cardiac cryoablation catheter, Covidien’s closure Fast Endovenous Radiofrequency Ablation (RFA) catheter, and CR Bard’s (specialty coronary sinus) catheter.
The hospital segment dominated the market and accounted for revenue share of 53.7% in 2021. This can be attributed to an increase in the number of hospital admission rates globally, and an upsurge in surgical procedures which require the use of catheters for infusion of IV solutions and fluids. Since hospital store/pharmacy is set within a hospital where it stores and dispenses inpatient medications. Hospital stores usually a stock wide range of medications, including more specialized and investigational medications. Thus, responsible for segment growth.
However, the retail stores segment is expected to witness the highest CAGR of 6.8% from 2022 to 2030. This is owing to the presence of various e-commerce sites offering various types of catheters. For instance, Amazon, shopcatheters, and Allegro Medical Supplies Inc. are some of the notable e-commerce sites which offer significant discounts, warranty, and prompt customer service on various catheters. This might drive the sales of the products through this sales channel. Thus, supporting the segment growth during the forecast period.
North America dominated the catheters market and accounted for revenue share of 31.9% in 2021. The segment is expected to witness CAGR of 6.1% from 2022 to 2030. This dominance can be attributed to factors such as the rising prevalence of chronic disorders, supportive government policies, increasing awareness, the availability of highly skilled physicians, and the presence of well-established healthcare facilities. Furthermore, major players in the region are adopting various strategies such as merger and acquisition, partnerships, and collaboration to strengthen their foothold in the market. For instance, in December 2018, Evonik Corporation—manufacturer of specialty chemicals—signed a distribution agreement with Compounding Solutions LLC—the U.S.-based medical-grade polymer manufacturer—to distribute its products such as VESTAMID care ML polyamide 12, VESTAKEEP Care PEEK, and VESTAMID Care ME poly-ether block amide (PEBA). These medical-grade polymers are used in the medical industry for production of specialty catheters and imaging and surgical devices.
However, in Asia Pacific, the market is expected to significantly lead the market in the future from 2022 to 2030 owing to various factors such as growing disposable income and healthcare expenditure, as well as the presence of large untapped opportunities in emerging economies such as India and China. In addition, a large number of patient pool suffering from kidney and cardiovascular problems, and improving medical facilities leads to substantial market growth in the region. Favorable government policies, product launches, and approvals and innovations in the field is expected to further boost market growth.
Companies are constantly launching new products and increasing their reach by geographically expanding to gain higher market share. Japan based Terumo Corporation acquired U.S. based medical device manufacturer, Sequent Medical through its subsidiary in the U.S. Sequent Medical. Thus, the global players are shifting their production facility to the other countries to achieve economies of scale. Moreover, numerous manufacturers in the catheters industry collaborate with major medical device distributors to market and supply their products globally or in certain countries.
Strategic alliances are therefore quite common among manufacturers and medical device distributors. Such alliances not only help the manufactures acquire the license to market their product, but also reduces their liability in case of product recall and adverse event. For instance, Coloplast Corporation and Premier Inc., the U.S. based healthcare outcome improvement company signed three year purchasing agreement for the Coloplast urology product offerings including catheters, starting from March 2019. Premier Inc. has a network alliance of around 4,000 U.S. hospitals and integrated supply chain, advisory, and data analytics solutions which would be utilized in increasing agreements for Coloplast at lower costs. Some of the prominent players in the catheter market include:
Hollister Incorporated
Medtronic
Boston Scientific Corporation
Edward Lifesciences
Smith Medical Inc.
Teleflex Incorporated
ConvaTec Group Plc
Cure Medical LLC
Report Attribute |
Details |
Market size value in 2022 |
USD 51.4 billion |
Revenue forecast in 2030 |
USD 85.2 billion |
Growth rate |
CAGR of 6.5% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2018 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product type, distribution channel, lumen, end-user, and region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Colombia; Argentina; South Africa; Saudi Arabia; UAE |
Key companies profiled |
Hollister Incorporated; Medtronic; Boston Scientific Corporation; Edward Lifesciences; Smith Medical Inc.; Teleflex Incorporated; ConvaTec Group Plc; Cure Medical LLC |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope |
Pricing and purchase options |
Avail of customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global catheter market report on the basis of product type, distribution channel, lumen, end-user and region:
Product Type Outlook (Revenue, USD Million, 2018 - 2030)
Cardiovascular Catheters
Electrophysiology Catheters
PTCA Balloon Catheters
IVUS Catheters
PTA Balloon Catheters
Urology Catheters
Hemodialysis Catheters
Peritoneal Catheters
Foley Catheters
Intermittent Catheters
External Catheters
Intravenous Catheters
Peripheral Catheters
Midline Peripheral Catheters
Central Venous Catheters
Neurovascular Catheters
Specialty Catheters
Wound/Surgical Catheters
Oximetry Catheters
Thermodilution Catheters
IUI Catheters
Distribution Outlook (Revenue, USD Million, 2018 - 2030)
Hospital Stores
Retail Stores
Others
Lumen Channel Outlook (Revenue, USD Million, 2018 - 2030)
Single-lumen
Double-lumen
Triple-lumen
End-user Outlook (Revenue, USD Million, 2018 - 2030)
Hospitals
Ambulatory Surgical Centers
Long-term Care Facilities
Others
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Colombia
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
b. The global catheter market size was estimated at USD 48.4 billion in 2021 and is expected to reach USD 51.4 billion in 2022.
b. The global catheter market is expected to grow at a compound annual growth rate of 6.5% from 2022 to 2030 to reach USD 85.2 billion by 2030.
b. North America dominated the catheters market with a share of 31.94% in 2021. This is attributable to the presence of multi-national manufacturers and sophisticated healthcare infrastructure along with high product awareness levels.
b. Some of the key players operating in the catheter market include Medtronic Plc.; Convatec Corp.; Smiths Medical, Inc.; Boston Scientific Corp.; and Coloplast A/S.
b. Key factors that are driving the market growth include rising demand for antimicrobial catheters, increasing prevalence of cardiovascular, neurology, and urology disorders, and growing usage of advanced materials in the catheters.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
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