Intravascular Catheters Market Dynamics, Recent and Upcoming Trends, International Players, Demand and Forecast to 2025

The global intravascular catheters market size is expected to reach USD 8.80 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 11.4% during the forecast years. Increasing usage of catheters in various surgical procedures along with awareness about hospital-acquired infections is projected to propel market growth. Moreover, rise in coverage of healthcare insurance is also estimated to contribute toward the industry growth from 2018 to 2025.

Intravascular Catheters

Increasing cases of trauma injuries and cardiovascular and urological procedures are also expected to drive the demand for intravascular catheters. Short Peripheral Intravascular Catheters (PIVC) led the market with a revenue of USD 2.61 billion in 2017, on account of lower infection risks associated with these products. The segment is expected to witness a lucrative CAGR as a result of increasing concern for catheter-associated bloodstream infections leading to catheter colonization.

Thus, high preference for short PIVCs over its counteparts will drive the segment. Hospital was the dominant end-use segment with a revenue of USD 2.29 billion in 2017 and is expected to continue the trend over the forecast period owing to rising cases of surgical procedures requiring catheters. Moreover, increased concern about hospital-acquired infection and growing health insurance coverage are likely to boost the segment growth further. Ambulatory Surgical Centers (ASCs) are anticipated to witness the fastest growth with a CAGR of 13.1% during the estimated period.

Surgical procedures are cheaper in ASCs as compared to hospitals. Thus, the ASCs segment is expected to witness rapid growth, which will drive the product demand in the years to come. Asia Pacific led the global market with a revenue of USD 1.05 billion in 2017. This growth was attributed to the presence of target population, high investments in healthcare infrastructure, increased insurance coverage, and easy availability of reimbursement.

This region is anticipated to witness a lucrative growth due to high potential to capture unmet medical needs for patients suffering from CVDs, urinary diseases, and trauma injuries. China alone led the regional market in 2017 owing to high unmet medical needs, awareness about hospital-acquired infections, and easy healthcare accessibility.

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Further key findings from the study suggest:

• Asia Pacific led the market in 2017 and accounted for a revenue share of USD 1.05 billion in the same year
• The region is estimated to expand further owing due to the presence of target population, increased awareness about hospital-acquired infections, and rise in healthcare coverage
• China is anticipated to be the fastest-growing market in Asia Pacific region with a CAGR of 14.8 % between 2018 and 2025
• Some of the key companies in the market are Boston Scientific Corp.; C.R. Bard, Inc.; Johnson & Johnson Services, Inc.; Abbott Laboratories; Coloplast Ltd.; Smith Medical, Inc.; Edwards Lifesciences Corp.; Medtronic PLC; McKesson Medical Surgical, Inc.; and Terumo Corp.