The global cardiac catheters market is estimated to accumulate huge dividends by 2021, according to a report on Radiant Insights, Inc. It is projected to expand at a respectable CAGR from 2012 to 2021 (forecast period). Its demand is driven by increasing geriatric population, prevalence of cardiovascular diseases, and awareness of various medical devices globally. Technological advances related to cardiac catheters are anticipated to provide future growth opportunities.
Cardiac catheters are devices inserted into heart chambers to diagnose its working condition. They are normally aided by guidewires, a thin flexible wire made from stainless steel. They are also known as cardiac cath or heart cath. Supportive government initiatives as well as improvements in heart healthcare are expected to drive market demand in the forthcoming years. For instance, Koninklijke DSM N.V., a prime market player, has made use of biomedical polyurethanes for surgical purposes in cardiovascular catheters.
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Catheters are also being increasingly used in minimally invasive surgeries (MIS) due to preference of patients. Recently, Medtronic plc gained approval from the U.S. FDA (Food & Drug Administration) and CE mark to treat aortic valve disease. Mapping heart chambers is integral before any surgical procedure. SJM Global has developed the Ensite Precision cardiac mapping system, which can diagnose a wide range of arrhythmias using a catheter. Other products are designed to reduce procedure times and recovery time of patients.
The worldwide cardiac catheters market is segmented by type, application, and region. By type, it is fragmented into semi floating electrode, optical fiber scope, hexapolar balloon pacing, bipolar pacing shrouded pin, angiographic balloon catheter, arterial embolectomy, and others. All these instruments are used in diagnosing blocked veins or arteries before going into surgery.
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Application-wise, the market is divided into coronary angiography or angiogram, heart biopsy, transcatheter aortic valve replacement (TAVR) or transcatheter aortic valve implantation (TAVI), transcatheter atrial septal defect (ASD) repair, right heart catheterization, angioplasty or stent placement, and ablation catheters. TAVR or TAVI segment is anticipated to grow at a healthy rate till 2021 due to ongoing demand for MIS among patients.
Regions in the global market include North America, Asia Pacific (APAC), and Europe. Countries focused on within the market are South Korea, United States (U.S.), United Kingdom (U.K.), Germany, Japan, and China. North America currently leads the cardiac catheters market due to adoption of latest technologies as well as prevalence of coronary diseases. The APAC market can display a high CAGR during the forecast period due to a large patient pool in India and China, improved healthcare, and increased government funding.
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Europe is the third biggest market after North America and APAC due to high number of cath labs. Medtronic has captured a majority of the region by partnering with hospitals and clinics to set up cath labs focused on treating cardiovascular disorders. It provides patients with state-of-the-art care with help from a digital platform that makes use of data analytics and patient information to provide efficient service.
Prominent market players include St. Jude Medical, Inc.; Medtronic Public Limited Company (plc); Boston Scientific Corporation; Abbott Laboratories; and Maquet. Innovations in product development and partnerships are strategies used by these players in acquiring a larger share in the market. Lack of qualified personnel and high cost of these devices are factors that may impede market growth.
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