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Cath Lab Services Market - Segmented by Type of Service (Therapeutic and Diagnostic) and Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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Market Overview

The Cath Lab Services Market is expected to register a CAGR of 6% during the forecast period. A cath lab is an examination room equipped with diagnostic imaging equipment. Cath labs are used in the visualization of arteries and chambers of the heart. According to a research study, robot-assisted surgeries have increased from 1.5% to 27% during 2003-2015. This rapid growth is attributed to the advantages of robot-assisted surgeries, like shorter hospital stay, less pain accompanied by speedy recovery, smaller incisions at the site of surgery, which reduces the risk of infection, less blood loss and transfusions, and other benefits. Hence, increasing preference of robot-assisted surgeries is expected to propel the growth of the market.

Increase in Incidence of Cardiac Diseases

According to American Heart Association (AHA) reports, it is estimated that cardiovascular disease is the leading cause of death, globally, accounting for about 17.3 million deaths per year, which is expected to reach over 23.6 million by 2030. According to the Centre for Disease Control and Prevention, about 610,000 people die of heart diseases in the United States every year, i.e., one in every four deaths can be attributed to cardiovascular diseases (CVDs). Coronary heart disease (CHD) is the most common type of heart disease, with a death toll of over 370,000 people annually. CVD is a major concern in other parts of the world as well, such as the United Kingdom. According to the statistics of the World Health Organisation, an estimated 17.7 million people died from CVDs in 2015, representing 31% of all global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Cardiovascular disease kills one Australian every 12 minutes. As the incidence of cardiovascular diseases is increasing, the awareness of people about health is increasing, thus prompting the growth of cath lab services. Increasing preference for robot-assisted surgeries is also expected to drives the market during the forecast period.

Reimbursement Issues

The major restraining factor for the market is the lack of proper reimbursement systems, globally, which poses significant challenges to the growth of the cath lab services market. The process of securing reimbursement and funding for cath lab services is tremendously challenging. Stakeholders need to recognize what knowledge the payers/purchasers are looking for, which calls for extensive research and interpretation of a very large amount of data. Moreover, international reimbursement structures are different in different countries. Hence, interested parties have to come up with new and effective strategies frequently, making it a cumbersome and tedious task, thereby hindering the market. The cuts in reimbursement rates have led to uncertainties in lab investments, which is a major restraining factor for the cath lab services market.

Another factor that acts as a restraining factor for the market is high operating and maintenance cost.

North America Leads the Market

North America held the largest share of the Cath Lab Services Market by region, in 2017, due to high incidence of cardiac diseases and inclination towards robot-assisted surgeries.

Key Developments in the Market

  • Jan 2018: Alberta Health Services is planning for expansion, which would include a cardiac catheterization lab.
  • Aug 2017: Campbell County Health received Silver Award from the American College of Cardiology, for providing high standards of care to cardiac patients.

Major Players: Alberta Health Services, Alliance HealthCare Services, Alliance Medical, Campbell County Healt, Care UK, Netcare Hospita, and Ramsay Health Care, among others.

Metrics

Details

Industry

Cath Lab Services Market

Study Period

(2015 – 2023)

Growth Rate

6%

Largest Market Share by Region

North America

Key Developments

Jan 2018: Alberta Health Services is planning for expansion, which would include a cardiac catheterization lab.

Aug 2017: Campbell County Health received Silver Award from the American College of Cardiology, for providing high standards of care to cardiac patients.

Companies Covered

Alberta Health Services, Alliance HealthCare Services, Alliance Medical, Campbell County Healt, Care UK, Netcare Hospita, and Ramsay Health Care, among others.

Report Offerings

The Cath Lab Services market report offers the latest trends, growth prospects, industry competitiveness, major players, regional share of the market, and forecast up to 2023.

Reasons to Purchase this Report

  • Current and future outlook Cath Lab Services market in developed and emerging markets
  • Analysis of various perspectives of the market, with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identification of the latest developments, market shares, and strategies employed by the major market players.
  • Three-month analyst support, along with the market estimate sheet (in Excel)

Customization of the Report

  • This report can be customized to meet your requirements. Please contact our representative, who will ensure that you to get a report that suits your needs.

1. Introduction

1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

5.1 Current Market Scenario

5.2 Porter's Five Forces Analysis

5.2.1 Bargaining Power of Suppliers

5.2.2 Bargaining Power of Consumers

5.2.3 Threat of New Entrants

5.2.4 Threat of Substitute Product and Services

5.2.5 Competitive Rivalry within the Industry

6. Drivers, Restraints, Opportunities, and Challenges (DROCs)

6.1 Market Drivers

6.1.1 Increase in Incidence of Cardiac Diseases

6.1.2 Increasing Preference for Robot-assisted Surgeries

6.2 Market Restraints

6.2.1 High Operating and Maintenance Cost

6.2.2 Reimbursement Issues

6.3 Opportunities

6.4 Key Challenges

7. Market Segmentation

7.1 By Type of Service

7.1.1 Therapeutic

7.1.2 Diagnostic

7.2 By Geography

7.2.1 North America

7.2.1.1 United States

7.2.1.2 Canada

7.2.1.3 Mexico

7.2.2 Europe

7.2.2.1 France

7.2.2.2 Germany

7.2.2.3 United Kingdom

7.2.2.4 Italy

7.2.2.5 Spain

7.2.2.6 Rest of Europe

7.2.3 Asia-Pacific

7.2.3.1 China

7.2.3.2 Japan

7.2.3.3 India

7.2.3.4 Australia

7.2.3.5 South Korea

7.2.3.6 Rest of Asia-Pacific

7.2.4 Middle East & Africa

7.2.4.1 GCC

7.2.4.2 South Africa

7.2.4.3 Rest of the Middle East & Africa

7.2.5 South America

7.2.5.1 Argentina

7.2.5.2 Brazil

7.2.5.3 Rest of South America

8. Competitive Landscape

8.1 Merger and Acquisition Analysis

8.2 Agreements, Collaborations, and Partnerships

8.3 New Products Launches

9. Key Players

9.1 Alberta Health Services

9.2 Alliance HealthCare Services

9.3 Alliance Medical

9.4 Campbell County Health

9.5 Inhealth Group​

9.6 Netcare Hospita

9.7 Ramsay Health Care

9.8 PeaceHealth​

9.9 Peterborough Regional Health Center​

9.10 Canyon Vista Medical Center​

*List not exhaustive

10. Future of the Market

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