The global Diagnostic Catheter market is estimated to reach a market value of US$ 3,633.1 million in 2019 and is forecast to reach US$ 6,134.3 million by 2027, growing at an estimated CAGR of 6.8% over the forecast period.
Diagnostic catheter is a 2-3 mm diameter hollow plastic tube that is inserted into the vein or artery of the neck, leg or arm under local anesthesia. It can be used to measure blood pressure inside the heart chamber, collect blood samples, and perform angiography (an X-ray image of blood vessels using a radiographic contrast agent).
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A diagnostic catheter is a tube injected into the vein or artery of the neck, leg or arm under local anesthesia. It can be used to measure blood pressure inside the heart chamber, collect blood samples, and perform angiography or more. It is known to have wide usage in cardiology, with also significant use in Urology, Neurology, Gastroenterology. The Global diagnostic catheter market is divided into imaging and non- imaging.
The global diagnostic catheter market is dominated by increased incidence of cardiovascular disease, increased number of operations, increased demand for minimally invasive techniques, and a surge in the elderly population. In addition, increased government investment in the healthcare sector and increased demand for sterile and disposable catheters will stimulate market growth. However, improper quality assurance, lack of skilled professionals and the high cost of these devices are expected to hinder market growth. Conversely, technological advances in the field of the development of upgraded devices such as diagnostic EP catheters and ablation catheters provide a favorable opportunity for market growth.
Some of the players operating in the global Diagnostic Catheter market are Abbott, AngioDynamics, B. Braun Melsungen AG, BD, Cardinal Health, ConvaTec Inc, Boston Scientific Corporation, St. Jude Medical, Inc., Johnson & Johnson, Medtronic PLC, and Koninklijke Philips N.V.
Key Findings of the Report:
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Diagnostic Catheter Market Key Segments
Diagnostic Catheter Market By Type
- The Global Diagnostic Catheter market valued US$ 3,402.9 million in 2018 and is estimated to reach a market value of over US$ 6,134.3 million by 2027. The rapid growth is owing to new developments in the global market, constantly revivalist research and the increasing prevalence of cardiovascular diseases and related awareness programs.
- The Diagnostic Catheter market is estimated to grow with CAGR of above 6.8% over the projection timeframe, as a result of some revolutionary innovations and participation of key players. There is also a strong need to present more and more cost friendly diagnostic infrastructure in developing countries. With a slight shift in the market and demand for non-invasive developments in the segment, the market will soar to new heights.
- Imaging and Diagnostic Centers, Hospitals and Clinics possess the infrastructure to hold diagnostic catheters and its imaging and non-imaging versions. Their high cost makes the adoptions by large medical facilities easier. There have been efforts by many centers overlooking health concerns to make the apparatus available at affordable prices.
- Rising espousal of advanced electrophysiology ablation catheters for enhanced treatment of complex arrhythmias will see an increase in application in Japan and France. North America, Australia being other countries where development in imaging and non-imaging catheter to meet the cardiovascular diseases need, will see a tremendous growth.
- Geographical expansion, the introduction of new products, acquisition and collaboration are some of the strategies adopted by companies to expand their reach and gain competitive advantage.
- Electrophysiology (EP) Catheters:
- Ultrasound Catheters
- OCT Catheters
- Angiography Catheters
Diagnostic Catheter Market By Application
- Pressure and Hemodynamic Monitoring Catheters
- Temperature Monitoring Catheters:
By End User
Diagnostic Catheter Market By Geography
- Imaging and Diagnostic Centers
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- North America
- Rest of North America
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
The cost analysis of Diagnostic Catheter market took into account manufacturing costs, labor costs, raw materials and market concentration, suppliers and price trends. Other factors such as supply chains, downstream buyers, and sourcing strategies were evaluated to provide a complete and in-depth view of the market. Report buyers are exposed to market positioning studies that take into account global 3D printing and pricing strategies for target audiences, training, and strategies.
Using SWOT analysis to gather and study all the information, you can see the competitive environment vividly in Diagnostic Catheter market. Openings for future market developments were revealed and likewise had a competitive advantage. Taking into account the drift and propensity of this market, it shows that the strategic direction is good. Understand your market base and understand your market data using standards, methodologies, and other driving market trends determined for reference.
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