Market Trends of Deflectable Catheters Industry
This section covers the major market trends shaping the Deflectable Catheters Market according to our research experts:
The Peripheral Interventions Segment Shows Significant Growth and is Expected to Continue the Same during the Forecast Period
Increasing demand for the early detection of peripheral artery diseases and coronary diseases, along with chronic diseases, such as diabetes and obesity, is expected to trigger the growth of this segment in the coming seven years. Furthermore, short recovery time, less loss of blood, a shorter span of hospital stay, and low risk of infection are the other drivers of the segment.
Peripheral intervention for the treatment of cardiovascular disorders has increased demand for deflectable catheters. According to a research article published by the Institute Jantung Negara in 2019, more than 200 million people suffer from Peripheral Artery Disease (PAD) across the globe. Individuals suffering from PAD are at a higher risk of developing severe heart conditions in the later stages of life. Thus, rising hospitalization with an increase in cardiovascular disorders is expected to upsurge the peripheral intervention procedure.
Furthermore, a broader range of applications of peripheral procedures, such as vascular and oncology procedures, neurology, hepatic (liver), uteral, renal procedures opens up new avenues for the segment.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America held the largest revenue share of the deflectable catheters market in 2019. This can be attributed to factors, such as the presence of a large number of deflectable catheter manufacturers, suppliers, and distributors, high prevalence of cardiovascular disorders, presence of sophisticated healthcare infrastructure, and an increase in patient awareness about emerging minimally invasive surgeries in the region. In addition, growing preference for minimally invasive surgeries, such as minimally invasive coronary bypass and Minimally Invasive Cardiothoracic Surgery (MICS), is contributing to market growth in North America.
Asia-Pacific is projected to register the fastest growth over the course of the forecast period. This growth will be fueled by rising awareness about emerging healthcare developments, increasing disposable income, and the presence of untapped opportunities for market players. Companies have the chance to focus on areas such as the development of deflectable catheters that can reduce catheters-associated risks. Apart from this, rapidly improving economic conditions in emerging countries such as India and China will also benefit market growth. In addition, a booming medical tourism industry and market for medical devices is expected to have a positive impact on the APAC market.
