Market Size of Global Wedge Pressure Catheter Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
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?
Wedge Pressure Catheter Market Analysis
The wedge pressure catheter market is expected to register a CAGR of 6.5% over the forecast period.
The rising COVID-19 cases across the world and the lockdown situation had a significant impact on the market, initially due to on-hold services such as treatment, diagnostic, and surgical services to prevent the spread of COVID-19. The impact of COVID-19 on the cardiovascular system was prominent and multifaceted. As per the study published in December 2020 by the National Library of Medicine, pulmonary artery wedge pressure was higher in COVID-19 patients than in acute respiratory distress syndrome (ARDS) patients and inversely related to lung compliance. Therefore, there was a need for wedge pressure catheters during COVID-19, as they had wide-ranging effects on the cardiovascular system due to coagulopathy and resultant venous and arterial thromboembolism. Furthermore, market growth is stabilizing in the current scenario following COVID-19, as global restrictions were eased and disease screening services were resumed.
The increasing number of patients diagnosed with cardiovascular diseases and stroke is a major factor driving market growth.According to data published by the World Stroke Organization (WSO) in 2022, about 12 million (12,224,551) people experienced a stroke. The organization stated that there are more than 12.2 million new strokes each year, and globally, one in four people after age 25 experiences a stroke in their lifetime. Hence, the increasing burden of patients globally is expected to drive the demand for surgical procedures, which is further expected to drive the wedge pressure catheter market growth over the forecast period.
Moreover, according to a study published by the British Heart Foundation in January 2022, there were approximately 7.6 million people with heart disease in the United Kingdom. An average of 460 deaths per day, or one death every three minutes, happen in the United Kingdom due to CVDs. Due to the rising burden of cardiovascular diseases, there is an increasing demand for innovative technologies that can decrease the mortality rates associated with heart failure, thereby increasing the demand for wedge pressure catheters during the study period.
Heart diseases like coronary heart disease, hypertension, and stroke are ranked as the highest cause of death in the United States. Furthermore, an increase in research and development activities to develop novel technologies to treat various cardiac disorders and stroke management is expected to see profitable growth during the forecast period.
But problems with the wedge pressure catheter and a lack of trained medical professionals in emerging markets are likely to slow the market's growth.
