Catheter Market To Reach $85.19 Billion By 2030 | CAGR 6.57%

Catheter Market Growth & Trends

The global catheter market is anticipated to reach USD 85.19 billion by 2030 and is anticipated to expand at a CAGR of 6.57% during the forecast period, according to a new report by Grand View Research, Inc. Rising healthcare expenditure, increasing collaboration and partnerships among the industry key players, increasing number of surgeries due to a rise in the number of chronic ailments such as diabetes, cardiovascular disorders, urological disorders, end-stage renal diseases, and other chronic conditions is expected to increase the adoption rate of catheters, thus driving the market over the forecast period.

Moreover, the increasing cases of bladder cancer boost the demand for catheters driving industry growth. For instance, American Cancer Society projected around 82,290 new cases of bladder cancer in the U.S. in 2023, with approximately 62,420 in men & 19,870 in women, the demand for specialized catheters like the 4-way Foley catheter is anticipated to be high, driven by the importance of effective therapeutic interventions in bladder cancer management. As the incidence of bladder cancer rises, there is an increased need for medical interventions and management of the condition. Bladder cancer often requires surgical interventions, such as cystectomy (removal of the bladder) or other procedures. Catheters are commonly used post-surgery to help drain urine, manage urinary incontinence, and assist in the healing process. Some bladder cancer patients may require long-term catheterization, either intermittently or indwelling, to manage urinary issues. This creates a sustained demand for catheters.

The major players in the industry are actively seeking regulatory approval for intravenous (IV) catheters, a factor that contributes to the growth of the market. As a result, patients can benefit from the availability of advanced and improved catheters that significantly enhance their quality of life. Additionally, this regulatory approval process opens up opportunities for manufacturers to create innovative and new products to meet market demands. For instance, in March 2023, Shockwave Medical, Inc. received approval from the U.S. FDA for its Shockwave L6 Peripheral Intravascular Lithotripsy (IVL) Catheter. This catheter was designed to address the challenge of calcification in tumors within significant peripheral vessels, including femoral and iliac arteries, which are notoriously hard to treat. These arteries often experience calcification, causing more complications and reducing the success rates of endovascular surgeries. Consequently, the market is anticipated to witness growth in the coming years due to such initiatives.

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Catheter Market Report Highlights

• Based on product type, the cardiovascular catheters segment dominated the market in 2023 with a share of a 27.99%. Rise in the prevalence of cardiovascular disorders which in turn, is increasing the demand for interventional cardiac procedures

• Based on the end use, the hospital stores segment dominated the market in 2023 owing to an increase in the number of hospital admission rates and an upsurge in surgical procedures globally

• North America dominated the market with the highest revenue share of 31.72% in 2023 owing to a high incidence rate of chronic disorders as well as the availability of highly skilled physicians in this continent

Catheter Market Segmentation

Grand View Research has segmented the global catheter market based on product type, end-use, and region:

Catheter 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

Catheter End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Stores

• Retail Stores

• Others

Catheter Region Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Thailand

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of key players in the global catheter market

• Hollister Incorporated

• Medtronic

• Boston Scientific Corporation

• Edward Lifesciences

• Smith Medical Inc.

• Teleflex Incorporated

• ConvaTec Group Plc

• Cure Medical LLC