The Global Catheters Market
October 12, 2009
Wellesley, Mass. – According to a new technical market research report, The Global Catheters Market (HLC019D) from BCC Research (www.bccresearch.com), the global catheters market amounted to nearly $14.6 billion in 2008, and is projected to increase to $18 billion in 2009. It is expected to reach $32.1 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 12.3%.
Catheterization procedures have steadily increased as interventional and less-invasive procedures have become more popular. Catheters are vital to the completion of many procedures, and some procedures or interventions, particularly in cardiovascular surgery and neurosurgery, could not be done without the use of catheters.
This BCC study finds that the catheters market is influenced by both medical and demographic factors. As the world’s population ages, the incidence of chronic and acute diseases increases. Some of these processes, such as heart disease, cancer, diabetes, renal disease, and infection, require medical intervention and the use of catheters to deliver treatments. The number of people undergoing diagnostic and therapeutic procedures is directly proportional to the increase in catheter sales and is one factor driving industry growth.
SUMMARY FIGURE A
GLOBAL CATHETER MARKET, 2008 AND 2014
%
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Source: BCC Research
SUMMARY FIGURE B
GLOBAL CATHETER MARKET, 2008 AND 2014
%
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Source: BCC Research
Cardiovascular catheters include both diagnostic and therapeutic catheters. Growth in diagnostic procedures is driving the cardiovascular segment; however, this segment is facing challenges due to complications arising from stent and angioplasty procedures, long government approval times, and increasing competition.
Government regulations also play a significant role in the catheter market, particularly in the urological catheter segment, as regulations attempt to promote fewer infections among hospitalized patients through more frequent use of catheterization.
Among the report’s findings are the following:
- The market’s cardiovascular segment is the largest with sales of $6 billion in 2008. That is projected to increase to $7.1 billion in 2009, and to rise at a CAGR of 10.2% to $11.6 billion in 2014.
- The second-largest segment is urology, with revenue of $4.4 billion in 2008, which is expected to reach nearly $6 billion in 2009, and increase to $13.2 billion in 2014, for the highest CAGR among all segments at 17.1%.
- Market growth drivers include the emergence of newer catheters with superior efficiency and reduced risk of infection, an increase in minimally-invasive procedures requiring catheters, and advances in imaging technology that has led to new applications and an increase in procedures requiring the use of catheters.
Market restraints include price erosions due to fierce competition that are shrinking revenues, long FDA approval times resulting in delayed launches of new products, reimbursement issues, and reluctance of physicians to accept new device technologies.
The Global Catheters Market( HLC019D )
Publish Date: Aug 2009
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