Catheter Market Size, Share & Trends Analysis Report By Product Type (Cardiovascular, Urology, Intravenous, Neurovascular, Specialty Catheters), By Distribution Channel (Hospital Stores, Retail Stores), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global catheter market size was valued at USD 51.5 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2023 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 the 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.

Catheter regulations include premarket notification submission [510 (k)] and de novo classification, which depend on identification of predicated device, device technology, & indications for use. This classification is based on the degree of risk, which specifies risk profile of a device. The device approval may be rejected if the FDA is unable to find a device substantially equivalent to the legally marketed predicated device.

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 sales 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 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.

Product Type Insights

The cardiovascular catheters segment dominated the market and accounted for the largest revenue share of 28.0% in 2022 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 the 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 30.2% market share in 2022.

However, the specialty catheters segment is expected to witness the highest compound annual growth rate (CAGR) of 6.9% from 2023 to 2030 owing to its increasing preference by physicians. Increasing demand for minimally invasive procedures, coupled with rising prevalence of target diseases, are expected to drive the growth of the market for specialty catheters during the forecast period. Moreover, technological advancements by the key players in this sector are 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.

Distribution Channel Insights

The hospital segment dominated the market and accounted for revenue share of 53.6% in 2022. 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, thereby driving the segment’s 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.

Regional Insights

North America dominated the catheters market and accounted for revenue share of 31.8% in 2022. The segment is expected to witness a CAGR of 6.1% from 2023 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 April 2021, the Emprint ablation catheter kit achieved “Breakthrough Device Designation” status from the U.S. Food and Drug Administration (FDA). It is an innovative device that has not been authorized in the U.S. The catheter is intended for use with the Emprint microwave generator and the Medtronic lung navigation platform to offer minimally invasive, localized treatment of malignant lung lesions. It can also be used in combination with standard care therapy.

However, in Asia Pacific, the market is expected to significantly lead in the future from 2023 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.

Key Companies & Market Share Insights

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, in March 2021, Medtronic launched the Chameleon Percutaneous Transluminal Angioplasty (PTA) balloon catheter. The firm launched the catheter in Germany, Portugal, Italy, South Africa, Turkey, and Spain. The system is approved for use in femoral, iliac, and renal arteries, as well as native and synthetic arteriovenous dialysis fistulas. Some of the prominent players in the global catheter market include:

• Hollister Incorporated

• Medtronic

• Boston Scientific Corporation

• Edward Lifesciences

• Smith Medical Inc.

• Teleflex Incorporated

• ConvaTec Group Plc

• Cure Medical LLC

Recent Developments

• In February 2023, Teleflex announced that its Triumph Catheter, which has a novel design for enabling precise wire advancement as well as clear visualization, had received the 510(k) clearance from the U.S. FDA. Additionally, the company also stated that its GuideLiner Coast Catheter had witnessed its first clinical usage at the UW Medicine Heart Institute in Seattle, Washington

• In December 2022, Boston Scientific announced a strategic investment for acquiring a majority stake in the Chinese medical technology company Acotec Scientific Holdings Limited. The company is well-known in China for its drug-coated balloons (DCBs), as well as thrombus aspiration catheters and RF ablation technologies among other products. Boston Scientific aims to strengthen its position in the region through this deal

• In December 2022, Medtronic announced the completion of enrollment in an evaluation trial for a novel pulsed field ablation catheter designed for treating patients with atrial fibrillation. The ‘SPHERE Per-AF Trial’ is a U.S. FDA Investigational Device Exemption trial for testing the efficacy and safety of the Sphere-9 pulsed field (PF) and RF ablation, and high density mapping catheter with the Affera cardiac mapping and navigation platform

• In February 2022, Teleflex announced that the company’s specialty catheters and coronary guidewires had received an approval for expanded indication by the US FDA, for use in CTO PCI (crossing chronic total occlusion percutaneous coronary interventions). The devices that received this clearance included TrapLiner Catheter, Teleflex GuideLiner V3 Catheter, Spectre Guidewire, Turnpike Catheters, Bandit Guidewire, Raider Guidewire, R350 Guidewire, and Warrior Guidewire

• In February 2022, Medtronic announced that its Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters had received approval from the U.S. FDA for treating pediatric Atrioventricular Nodal Reentrant Tachycardia (AVNRT). The said catheters are single-use, flexible devices for freezing cardiac tissue and blocking any unnecessary electrical signals within the heart, which helps in addressing the condition

• In January 2022, ICU Medical announced the acquisition of Smiths Medical from Smiths Group plc. Smiths Medical specializes in the provision of syringe and ambulatory infusion devices, vascular access, and vital care solutions

• In January 2022, Convatec announced the expansion of the ‘Cure Ultra’ portable and intermittent catheter range by adding an option for women – the Cure Ultra Plus. The 8” length device has been designed to address the issue of shortness of the conventional 6” length female catheter that becomes uncomfortable to use

Catheter Market Report Scope

Global Catheter Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on 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 catheters market report on the basis of product type, distribution channel, 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 Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospital Stores

  • Retail Stores

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait