Cardiac Catheters and Guidewires Market

Global Cardiac Catheters and Guidewires Market Forecast

• Global market for cardiac catheters and guidewires to jump from US$13.2 Bn attained in 2022 to US$22.9 Bn in 2030
• Market size poised to witness 8% expansion by value between 2023 and 2030

Quick Report Digest

1. The key trend anticipated to fuel the cardiac catheters and guidewires market growth is increased demand from hospitals and clinics.
2. Cardiovascular catheters are demonstrating an indispensable role in diagnosing and treating cardiovascular diseases. These facilitate minimally invasive procedures, reducing patient discomfort and recovery times, and are essential in modern cardiology, driving their adoption and market growth.
3. Cardiac catheters are widely used by hospitals due to their pivotal role as primary settings for complex cardiac procedures. Hospitals offer comprehensive cardiovascular care, equipped with skilled medical professionals and advanced technologies, driving the demand for cardiac catheters and their widespread adoption.
4. North America has captured the largest share in the cardiac catheters and guidewires market due to well-established healthcare infrastructure, high prevalence of cardiovascular diseases, favourable reimbursement policies, robust research and development activities, and presence of key market players, in the region.
5. The Asia Pacific region is experiencing the highest CAGR in the cardiac catheters and guidewires market due to factors like the rising prevalence of cardiovascular diseases, expanding healthcare infrastructure, increasing healthcare investments, and a large and ageing population with cardiovascular risk factors, contributing to the region's rapid market growth.
6. The minimal use of intravascular ultrasound (IVUS) catheters in developing countries poses a challenge in the cardiac catheters and guidewires market. Limited access, infrastructure, and awareness hinder the adoption of advanced IVUS-guided procedures, impacting market growth. Addressing these barriers requires increased healthcare investments, training, and awareness campaigns in developing regions.
7. The less developed recycling infrastructure presents a challenge in the cardiac catheters and guidewires market. As sustainability gains importance, the lack of effective recycling options for catheters can lead to environmental concerns and disposal issues, affecting market dynamics and prompting the need for eco-friendly solutions.

A Look Back and a Look Forward - Comparative Analysis

Due to the rising incidence of cardiovascular disorders, technological improvements, rising demand for minimally invasive treatments, developing healthcare infrastructure, and an ageing population with cardiovascular risk factors, it is anticipated that the market for cardiac catheters and guidewires will rise.

The market witnessed staggered growth during the historical period 2018 - 2022. This is due to the substantial growth of the major end-use application sectors such as hospitals and clinics. Hospitals are primary settings for complex cardiac procedures, equipped with skilled professionals and advanced technologies, driving the demand for cardiac catheters.

The prospects of the cardiac catheters and guidewires market are promising. The market is anticipated to witness sustained growth by the increasing prevalence of cardiovascular diseases, technological advancements, expanding healthcare infrastructure, and a growing elderly population.

Minimally invasive procedures and the trend towards outpatient care are expected to boost demand further. Continuous innovation in catheter technology and increased focus on patient outcomes will shape the market's evolution, making it a dynamic and vital component of cardiovascular care.

Key Growth Determinants

• Rising Prevalence of CVDs

The rising prevalence of cardiovascular diseases (CVDs) is a significant driver of the cardiac catheters and guidewires market. CVDs, including heart disease and strokes, remain the leading global cause of death. Cardiac catheters play a pivotal role in diagnosing and treating these conditions. They enable minimally invasive procedures such as angioplasty, stent placement, and catheter ablation, reducing the need for open-heart surgeries.

The increasing incidence of risk factors like obesity, hypertension, and diabetes further fuels the demand for cardiac catheters. Moreover, continuous technological advancements enhance the safety and efficacy of these procedures, encouraging their adoption.

As healthcare systems focus on preventive and interventional cardiology, the cardiac catheters and guidewires market is poised for substantial growth in response to the CVD epidemic.

• Rising Incidence of Diabetes

The rising incidence of diabetes worldwide is a significant driver of the cardiac catheters and guidewires market. Diabetes is a major risk factor for CVDs, leading to conditions like coronary artery disease. Patients with diabetes often require cardiac catheterisation procedures for diagnostic and interventional purposes.

As the diabetes patient base continues to increase globally, the demand for cardiac catheters to manage and treat associated cardiovascular conditions is also rising. This growing patient population underscores the importance of the cardiac catheters and guidewires market in addressing the cardiac health challenges posed by the diabetes epidemic.

• Favourable Reimbursement Policies for Coronary Intervention Procedures

Favourable reimbursement policies for coronary intervention procedures are a key driver of the cardiac catheters and guidewires market. These policies alleviate the financial burden on patients and healthcare facilities, making cardiac catheterisation procedures more accessible and affordable.

As governments and insurance providers increasingly recognise the importance of these procedures in preventing and treating cardiovascular diseases, the demand for cardiac catheters has surged.

These reimbursement policies incentivise healthcare providers to offer these life-saving procedures, contributing significantly to the growth and adoption of cardiac catheters in the market.

Major Growth Barriers

• Limited Use of IVUS Catheters in Developing Countries

The minimal use of Intravascular Ultrasound (IVUS) catheters in developing countries presents a challenge in the cardiac catheters and guidewires market. IVUS catheters offer precise imaging and guidance during coronary interventions, improving patient outcomes.

However, limited access, infrastructure, and awareness in developing nations hinder their adoption. Increased healthcare spending, education, and awareness efforts to highlight the advantages of IVUS-guided treatments are necessary to meet these issues.

Addressing these barriers will be crucial in expanding the use of IVUS catheters and advancing cardiac care in developing regions, thereby supporting market growth.

• Less Skilled Healthcare Professionals

Due to a lack of qualified healthcare workers experienced in catheterisation operations, the market for cardiac catheters faces difficulties in low- and middle-income nations. The complex nature of these interventions demands specialised expertise, but such expertise is often limited in resource-constrained settings.

Addressing this challenge requires investment in medical education, training programs, and establishing centres of excellence. Building a skilled workforce can improve patient access to catheterisation procedures and mitigate the barriers posed by the shortage of skilled professionals, ultimately supporting market growth.

Key Trends and Opportunities to Look at

1. Use of Innovative Biomaterials to Uplift Performance

Innovative materials are a prominent technology trend in the cardiac catheters and guidewires market. The focus is on developing bioresorbable polymers and biocompatible coatings to reduce the risk of complications.

Moreover, advancements in nanomaterials are being explored to enhance the mechanical properties and durability of catheters. These materials aim to improve the overall performance, safety, and patient outcomes of catheter-based procedures, positioning them as a key trend in the market.

2. Adoption of Robotics Technology

Robotics is a significant technology trend in the cardiac catheters and guidewires market. Developing smaller and more precise robotic systems enables remote-controlled catheterisation procedures, expanding access to specialised care.

Advanced haptic feedback technology enhances the surgeon's ability to manipulate catheters precisely. Additionally, integration with Artificial Intelligence (AI), and machine learning is being explored to improve procedural outcomes and automate certain aspects of catheter-based interventions.

3. Focus on development of Bioresorbable Stents

Bioresorbable stents are a notable technology trend in the cardiac catheters and guidewires market. Ongoing developments focus on improving their mechanical properties, such as strength and flexibility, to ensure effective temporary support for artery healing.

Additionally, research is directed toward enhancing the drug-eluting capabilities of these stents to optimise medication release and reduce restenosis rates. The goal is to create stents that offer optimal performance while gradually resorbing into the body, reducing long-term complications.

How Does the Regulatory Scenario Shape this Industry?

The regulatory scenario in the cardiac catheters and guidewires market is highly influential in ensuring patient safety and product quality. Regulatory bodies like the US Food and Drug Administration (FDA), and the European Medicines Agency (EMA) in Europe set stringent guidelines and standards for catheter design, manufacturing, labelling, and safety.

Catheters are classified based on their intended use and risk level. Manufacturers must adhere to these regulations, conduct extensive clinical trials, and obtain regulatory approvals before introducing their products.

The evolving regulatory landscape aims to maintain rigorous quality standards while promoting innovation and prioritising patient safety in the cardiac catheters and guidewires market.

Fairfield’s Ranking Board

Top Segments

1. Cardiac Catheters Dominant over Cardiac Guidewires

With its crucial function in the diagnosis and treatment of cardiovascular illnesses, cardiac catheters have seized the biggest market share in the global market for cardiac catheters. They are essential tools for minimally invasive procedures such as angioplasty, stent placement, and cardiac ablation, which have become standard interventions for heart-related conditions.

The increasing prevalence of cardiovascular diseases and advancements in catheter technology have driven their extensive adoption. Cardiac catheters are indispensable for improving patient outcomes, reducing hospitalisation times, and enhancing overall cardiac care, solidifying their dominant market position.

Cardiac guidewires are anticipated to experience the fastest CAGR in the Cardiac catheter market because they are pivotal in guiding catheters to precise locations within the cardiovascular system. As procedures become more complex and precise, the demand for advanced guidewires with improved manoeuvrability, visibility, and trackability has surged.

Additionally, technological innovations, such as hydrophilic coatings and enhanced materials, enhance their performance, making cardiac guidewires a critical component of modern catheterisation procedures and driving their rapid growth in the market.

2. Hospitals Will Surge Ahead Through 2030

Hospitals have secured the largest market share in the cardiac catheters and guidewires market due to their role as the primary settings for complex cardiac procedures. Hospitals possess the necessary infrastructure, skilled medical professionals, and advanced equipment required for catheter-based interventions.

Moreover, the increasing prevalence of cardiovascular diseases necessitates a high patient volume, driving the demand for catheterisation procedures.

Hospitals also tend to invest in the latest catheterisation technologies, making them the dominant users of cardiac catheters and solidifying their substantial market share.

Clinics are experiencing the fastest CAGR as the most lucrative segment of the cardiac catheters and guidewires market due to several factors. Technological advances have led to the development of compact and portable catheterisation equipment, making it increasingly feasible for clinics to perform cardiac procedures.

Additionally, the trend toward outpatient care and minimally invasive interventions has prompted clinics to offer catheter-based services. As clinics expand their capabilities and offer specialised cardiac care, they are poised for substantial growth in the market, contributing to their rapid CAGR.

Regional Frontrunners

North America: The Largest Revenue Contributor

Due to several key factors, North America has captured the largest market share in the cardiac catheter market. The region boasts a robust healthcare infrastructure with a high prevalence of cardiovascular diseases, driving the demand for cardiac catheterisation procedures.

Additionally, extensive research and development activities and a favourable reimbursement framework promote the adoption of advanced catheter technologies. The presence of key market players and a well-established healthcare system further solidify North America's dominance.

Moreover, a growing ageing population with increasing healthcare needs contributes to the sustained demand for cardiac catheters, making it the leading market globally.

Asia Pacific Likely to Witness the Significant Growth in Sales During Forecast Period

Asia Pacific region is expected to showcase the fastest CAGR in the global market for cardiac catheters. Demand is being driven by the increased frequency of cardiovascular illnesses, particularly in nations like China, and India.

Increasing healthcare investments, expanding healthcare infrastructure, and growing awareness about minimally invasive procedures contribute to market growth.

Moreover, a large and ageing population with cardiovascular risk factors is further boosting the adoption of cardiac catheters in the region. As a result, Asia Pacific is positioned as a key growth driver in the global cardiac catheters and guidewires market.

Fairfield’s Competitive Landscape Analysis

The global Cardiac Catheters and Guidewires market is a consolidated market with fewer major players present globally. The key players are introducing new products and working on the distribution channels to enhance their worldwide presence. Moreover, Fairfield Market Research expects more consolidation over the coming years.

Who are the Leaders in the Global Cardiac Catheters space?

• Boston Scientific Corporation
• Medtronic PLC
• Abbott Laboratories
• Johnson & Johnson
• Terumo Corporation
• Braun Melsungen AG
• Edwards Lifesciences Corporation
• Cardinal Health, Inc.
• Cook Medical Inc.
• Biotronik SE & Co. KG
• Teleflex Incorporated
• AngioDynamics, Inc.
• Oscor Inc.
• Penumbra, Inc.
• ASAHI INTECC Co., Ltd.

Significant Company Developments

New Product Launches

• March 2022: Shockwave Medical introduced the Shockwave M5+ peripheral intravascular lithotripsy catheter following approvals from both the CE mark and the United States Food and Drug Administration (FDA)
• February 2022: Cerenovus, a division of Johnson & Johnson Medical Devices Companies, unveiled Emboguard, an advanced balloon guide catheter designed for use in endovascular procedures, including those involving patients with acute ischemic stroke.

Distribution Agreement

• March 2022: Cerus Endovascular has obtained clearance from the United States Food and Drug Administration (FDA) for its 027 micro-catheters, offered in two different lengths. This expansion of their product range complements their existing FDA-cleared 021 micro-catheter platform.

An Expert’s Eye

Demand and Future Growth

As per Fairfield’s Analysis, the growing prevalence of cardiovascular diseases, advancements in catheter technology, and a growing ageing population drive demand. The market's future growth is underpinned by ongoing innovations, expanding healthcare infrastructure, and rising healthcare expenditures.

Minimally invasive procedures and the trend toward outpatient care further support the market's trajectory, making it a dynamic and evolving sector in the healthcare industry.

Supply Side of the Market

The leading suppliers in the cardiac catheter market vary by region and country. In the United States, companies like Boston Scientific, Medtronic, and Abbott Laboratories are prominent players, offering a wide range of cardiac catheters and related medical devices.

In Europe, B. Braun Melsungen AG, and Terumo Corporation are key suppliers, providing innovative cardiac catheter solutions.

In Asia, manufacturers like MicroPort Scientific Corporation, and Lepu Medical Technology are significant contributors, catering to the growing demand for cardiac catheters. These companies specialise in designing and producing cardiac catheters tailored to regional healthcare needs, supporting the growth and advancement of the global cardiac catheters and guidewires market.

The production of cardiac catheters involves several key raw materials, including medical-grade plastics (such as polyurethane or PVC) for the catheter body, stainless steel or nitinol for guidewires and other components, radiopaque materials for visibility under X-ray, and specialised coatings for smooth navigation.

Major suppliers of these raw materials include Tekni-Plex, Raumedic, and Putnam Plastics, specialising in medical-grade materials for catheter production. These suppliers play a pivotal role in ensuring the quality, safety, and performance of cardiac catheters manufactured by medical device companies worldwide.

Global Cardiac Catheters and Guidewires Market is Segmented as Below:

By Product:

• Cardiac Catheters
• Cardiac Guidewires

By End Use:

• Hospitals
• Clinics
• Ambulatory Surgical Centres
• Others

By Geographic Coverage:

• North America 
  • U.S.
  • Canada 
• Europe 
  • Germany
  • U.K.
  • France
  • Italy
  • Turkey
  • Russia
  • Rest of Europe 
• Asia Pacific 
  • China
  • Japan
  • South Korea
  • India
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America 
  • Brazil 
  • Mexico 
  • Argentina
  • Rest of Latin America 
• Middle East & Africa  
  • GCC 
  • South Africa
  • Egypt
  • Nigeria
  • Rest of the Middle East & Africa