(PharmaNewsWire.Com, April 22, 2021 ) This report aims to provide detailed insights into the global angiographic catheters market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Key Factors Driving Market Growth:
The Angiographic Catheters Market is primarily driven by the rising incidence of coronary artery diseases across the globe. Further, increasing demand for angiographic catheters in various applications such as chemoembolization, awareness regarding various diseases such as CVDs, and preference for minimally invasive surgeries are also driving the growth of this market.
Expected Revenue Growth Analysis:
The global angiographic catheters market is projected to reach USD 1,402.8 Million by 2022 from USD 980.9 Million in 2017, at a CAGR of 7.4%.
Browse 76 market data Tables and 34 Figures spread through 113 Pages and in-depth TOC on "Angiographic Catheters Market"
Based on application, the coronary segment is projected to register the highest growth rate during the forecast period
Based on application, the market is segmented into coronary, endovascular, neurology, oncology and other applications (such as lungs, urology, and gastroenterology). The coronary segment is expected to grow at the highest CAGR during the forecast period. Factors driving the growth of this segment include the increasing incidence of cardiovascular disease, demand for catheter-based angiography in coronary treatments and awareness regarding various diseases mainly in developing countries.
Europe commanded the largest share of the market during the forecast period
Based on region, the Angiographic Catheters Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe dominated the Angiographic Catheters Market in 2017. This is mainly due to the large patient population throughout the region. The growing demand for minimally invasive surgeries is also driving the growth of this market.
In Asian countries like India and China, catheter reusage is extensive in Tier 2 and Tier 3 hospitals which helps in reducing the procedural cost and provide affordable treatment to patients. However, due to the reduction in prices of catheters and growing awareness involved with the risk associated with re-used catheters, the preference for re-used catheters is anticipated to decrease in emerging nations.
Key players operating in the Angiographic Catheters Market include Medtronic (US), Boston Scientific (US), Terumo Medical (Japan), Cardinal Health (US), and Merit Medical System (US).
Most companies in the angiographic catheters industry adopted agreements, acquisitions, expansions, and product launches as the key business growth strategy. These strategies accounted for the largest share of the overall growth approaches mapped from 2014 to 2017. Some of the leading players who adopted these strategies include Boston Scientific (US), Medtronic (US), Terumo Medical (Japan), and Cardinal Health (US).
Medtronic (US) held the leading position in the angiographic catheters industry in 2016. The company adopts organic growth strategies such as product launches in order to strengthen its position in the market. For instance, in 2017, the company launched DxTerity diagnostic angiography catheter product line, which includes DxTerity TRA, InTRAkit access kit, and TRAcelet compression device. These product launches enhance the company’s product portfolio and brand recognition.
Top-down and bottom-up approaches were used to estimate and validate the size of the market and various other dependent submarkets. The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation—by application and region) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the angiographic catheters market segment revenues obtained.
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