According to a report “Intravascular Catheters Market Analysis Report By Product (Short, Integrated/Closed PIVCs), By Application, By End Use (Hospitals, Clinics, ASC, Homecare), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global intravascular catheters market size is expected to reach USD 8.8 billion by 2025, according to a new report by Grand View Research, Inc., registering an 11.8% CAGR during the forecast period. Increasing number of surgical procedures requiring catheters, growing awareness about hospital-acquired infections, and increasing coverage of healthcare insurance are some of the factors contributing to the demand for intravascular catheters from 2019 to 2025. The market is also expected to be driven by increasing number of patients undergoing cardiovascular as well as urological procedures and rising incidents of trauma injuries.
Key Takeaways from the report:
- Asia Pacific dominated the market in 2018 with a revenue of USD 1.2 billion, owing to factors such as large patient base, growing awareness regarding hospital-acquired infections, increase in healthcare access, and expanding healthcare coverage
- U.S. is the largest country with an incremental opportunity of USD 542.0 million from 2019 to 2025
- The hospitals segment dominated the market by end use in 2018 owing to growing number of surgical procedures requiring intravascular catheters and increasing hospital admissions
- Some of the key players in this market are Boston Scientific Corporation; C.R. Bard, Inc.; Johnson & Johnson Services, Inc.; Abbott; Coloplast Ltd; Smith Medical; Edwards Lifesciences Corporation; Medtronic; McKesson Medical Surgical Inc.; and TERUMO CORPORATION.
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Short Peripheral Intravascular Catheters (PIVC) dominated the market with a revenue of USD 2.8 billion in 2018, on account of lower infection risk associated with these products. In addition, short PIVCs are preferred over other catheters due to their quick discharge and short dwelling time. This product segment is expected to witness lucrative CAGR between 2018 to 2025 as a consequence of increasing concerns over catheter-associated bloodstream infections leading to catheter colonization.
Hospitals dominated the market on the basis of end use in 2018, with a revenue of USD 2.5 billion. The trend is likely to continue over the forecast period owing to increase in number of surgical procedures requiring catheters, growing health insurance coverage, and rising hospital admissions. Ambulatory Surgical Centers (ASC) are anticipated to witness the fastest growth, with a CAGR of 13.5% through 2025. Surgical procedures are cheaper in ASCs as compared to hospitals. As a result, the market is expected to witness a rise in adoption of surgical procedures in ASCs, which in turn is anticipated to drive demand for intravascular catheters over the forecast period.
Asia Pacific dominated the intravascular catheters market with a revenue of USD 1.2 billion in 2018, owing to high patient base, increasing investments in healthcare infrastructure, growing insurance coverage, and availability of reimbursements. This region is anticipated to witness lucrative growth due to its high potential in overcoming unmet medical needs among patients suffering from cardiovascular and urological diseases as well as trauma injuries. China dominated the APAC market with a 23.3% revenue share in 2018 owing to high unmet medical needs, growing awareness about hospital-acquired infections, and increase in healthcare accessibility. Thus, a high population base with unmet medical needs is expected to drive demand for intravascular catheters between 2018 to 2025.
Grand View Research has segmented the global intravascular catheters market on the basis of product, application, end use, and region:
Intravascular Catheters Product Outlook (Revenue, USD Million, 2014 – 2025)
- Short PIVC
- Integrated/Closed PIVC
Intravascular Catheters Application Outlook (Revenue, USD Million, 2014 – 2025)
- Renal Disease
- Infectious Diseases
Intravascular Catheters End-use Outlook (Revenue, USD Million, 2014 – 2025)
Intravascular Catheters Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
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