(PharmaNewsWire.Com, February 27, 2018 ) Diagnostic Catheter Market Value was worth USD 3.02 billion in 2016 and estimated to be growing at a CAGR of 7.3%, to reach USD 4.3 billion by 2021. Catheters are thin tubes made of medical grade material such as plastic, silicon rubber, polyvinyl chloride (PVC), and nylon, which are inserted in the patient’s body for therapeutic and diagnostic purposes.
Catheterization is a primary co-procedure performed with varied other medical procedures such as angioplasty, cardiac electrophysiology, and neurosurgery, wherein catheters are used. The Global Diagnostic Catheter Market is expected to witness moderate growth during the forecast period, owing to the rise in a number of surgeries and high demand for minimally invasive procedures. In addition, increase in geriatric population base and raise in demand for sterile & disposable catheters supplement the market growth. Furthermore, increase in reimbursement levels and advancements in catheter technology are expected to boost the market growth. However, inadequate quality assurance and price competition at domestic levels are expected to hamper this growth.
The Global Diagnostic Catheter Market is broadly categorized into type, application and end user. By type, the market is further segmented into Imaging and non-imaging catheters. By application, the market is further analyzed cardiology, gastroenterology, urology, neurology, and others. Cardiology surgeries lead the segment as these surgeries involve the use of catheters. By end user, the market is classified into hospitals and Imaging and diagnostic centers. Hospitals account for a major share in the market.
On the basis of geography, the Global Diagnostic Catheter Market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. North America commanded the largest share of the global market. Asia-Pacific is expected to witness the highest growth during the forecast period.
The prominent players in the diagnostic catheter market are Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Medtronic plc (Ireland), Johnson & Johnson (U.S.), Koninklijke Philips N.V. (Netherlands), B. Braun Melsungen AG (Germany), C.R. Bard, Inc. (U.S.), Cardinal Health, Inc. (U.S.), Edward LifeSciences Corporation (U.S.), and Terumo Corporation (Japan).
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