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Deflectable Catheters Market By Type (Bi-Directional, Uni-Directional and Multi-Directional), By End User (Hospitals, Catheterization Labs and Ambulatory Surgical Centers) - Growth, Future Prospects & Competitive Analysis, 2019 – 2027

Industry Outlook

The deflectable catheters market is set to grow from US$ 1,564.9 million in 2018 to US$ 2,246.6 million by 2027 at a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2019 to 2027. Rising public health awareness and technological advancement in the development of deflectable catheters for their application as diagnostic and medical interventional devices determine the deflectable catheters market's growth during the forecast period.

Increasing demand for minimally invasive diagnostic procedures and excellent ergonomic features increase the popularity of bi-directional catheters.

Bi-directional catheters dominate the type segment of the deflectable catheter market. Increasing demand for minimally invasive diagnostic procedures and excellent ergonomic features such as enhanced lateral flexibility, column strength, and outward radial pressure is useful in increasing stability and tissue contact, resulting in increased demand for bi-directional catheters. Multi-directional and steerable catheters are gaining prominence among surgeons on account of their ability to create a mapping of complex arrhythmias, electrophysiology, ablation, and vessel access and delivery.

Improved patient care and cost-effective healthcare services together drive the hospital market's growth.

Hospitals are spearheading the end-user segment of the deflectable catheter market. The major features contributing to its positive market growth are improved patient care and the availability of cost-effective healthcare services. Catheterization labs will showcase promising growth during the forecast period owing to the availability of a skilled workforce and the installation of state-of-the-art medical instruments and diagnostic equipment.

Rising prevalence of cardiac complications and a favorable reimbursement scenario propel market growth in the North American region.

North America is currently leading the regional segment for the deflectable catheters market, accounting for a share of 35.5%. The primary features propelling the deflectable catheter market growth in the region are the rising prevalence of cardiac complications. As per the latest statistics brought forward by the Centers for Disease Control and Prevention (CDC), approximately 610,000 people die annually due to cardiovascular complications in the United States, which is equivalent to 1 in 4 deaths. Favorable reimbursement scenarios further bolster the deflectable catheter market growth in the North American region.

Europe holds a 30.4% market share owing to the implementation of effective treatment guidelines pertaining to cardiovascular complications. Strategic collaboration between academic research institutes and medical device companies in manufacturing deflectable catheters for their application in diagnostic imaging drives the market growth in the European Union region. Representing a share of 17.5%, Asia Pacific will grow at a rampant pace during the forecast period on account of the supportive regulatory environment provided by local healthcare agencies for deflectable catheter market growth. A significant rise in medical tourism will further accelerate market growth.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The market is segmented by type, end-user, and geography.

Medical device manufacturers producing deflectable catheters are Abbott Laboratories, Inc., Boston Scientific Corporation, BioCardia, Inc., Biomerics, CathRx Ltd., Dynaflex, Biosense Webster (Johnson & Johnson), Merit Medical Systems, Inc., Medtronic, Plc., and Teleflex Incorporated.

Key questions are answered in this report.

  • Which are the prominent players competing in the deflectable catheter market?
  • What are the organic and inorganic market growth strategies adopted for the market assessment of the deflectable catheters market?
  • Why is the bi-directional deflectable catheter popular among surgeons worldwide?
  • What will the market performance of catheterization labs be during the forecast period?
  • What will market growth strategies be adopted by developing regions such as Asia Pacific and Latin America to propel the deflectable catheter market growth in their regions?

Frequently Asked Questions:

The market for Deflectable Catheters Market is expected to reach US$ 2,246.6 Mn by 2027.

The Deflectable Catheters Market is expected to see significant CAGR growth over the coming years, at 4.1%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

bbott Laboratories, Inc., Boston Scientific Corporation, BioCardia, Inc., Biomerics, CathRx Ltd., Dynaflex, Biosense Webster (Johnson & Johnson), Merit Medical Systems, Inc., Medtronic, Plc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jul 2019
Category:  Medical Devices
Report ID:   59798
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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