Market Size of Deflectable Catheters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Deflectable Catheters Market Analysis
The deflectable catheters market is expected to register a CAGR of 8.1% over the forecast period. Rising prevalence of cardiovascular disorders and peripheral artery disease, growing geriatric population, and an increasing number of minimally invasive surgeries are some of the key factors boosting the market growth.
Cardiovascular diseases have become the leading cause of death worldwide in the past three decades. A sedentary lifestyle is one of the major causes leading to many chronic disorders such as diabetes and cardiovascular ailments. According to the World Health Organization, in 2019, cardiovascular disease (CVD) is the leading cause of death, claiming around 17.9 million lives each year. Rising hospitalization with an increase in cardiovascular disorders is expected to increase the adoption of the deflectable catheters.
An increasing number of surgeries being performed due to rising cases of CVD is expected to increase the demand for catheters, which will drive the market. Treatment of CVD majorly includes minimally invasive procedures that involve the use of catheters to clear blocked arteries. Growing demand for angioplasty over conventional surgeries due to its minimally invasive nature and better outcomes has gained significant preference among patients. The paradigm shift from conventional surgeries to angioplasty has led to an increase in sales of catheters, including deflectable catheters. These procedures have higher adoption rates and are becoming standard techniques in general surgery due to the use of advanced technologies and availability of innovative deflectable catheters in the market.
The wide range of applications and technological advancement possessing high demand that provide lucrative growth opportunities to the market. Technological advancement such as improved accessibility to the difficult anatomy, the improved catheter stability in operation, the then reduced fluoroscopy times and decreased total radiation exposure to both patients and physicians. Therefore, the aforementioned factors pave the way for market by increasing demand for the catheter.
The risks and complications associated with catheters, such as myocardial infarction, pseudoaneurysm, arteriovenous fistula, hematoma/retroperitoneal bleeding, thrombosis and embolism, and allergic reactions, may impede the growth of the market. However, they can be overcome with technological advancements.
