Catheters are tubes made up of material such as polyvinyl chloride (PVC), plastic, nylon and silicon rubber that are inserted into a patient body for diagnostic purposes. Catheters are used in various medical procedures such as cardiac electrophysiology, neurosurgery and angioplasty. The global diagnostics catheters market is estimated to grow with approx. 7.3% CAGR during the year 2016 – 2023. The key driver increasing the growth of global diagnostics catheters market is technological innovation, growing prevalence of cardiovascular disorders, increase in number of diagnostic and imaging center. However, lack of professionals in the diagnostic and imaging procedure, reuse of disposable diagnostic catheter and growth of diagnostic catheters in the developing countries such as India, China etc. are hampering the growth of diagnostic catheters market.
The global diagnostics catheters market is segmented on the basis of type, application area and end-user. On the basis oftype diagnostics catheters market is sub segmented into imaging and non-imaging diagnostic catheters. The imaging catheters product segment is anticipated to share the largest size of the diagnostic catheters market. Based on the application, the diagnostics catheters market is sub divided into cardiology, urology, gastroenterology, neurology and other. On the basis ofend-users’diagnostics catheters market is sub segmented into hospitals and diagnostic & imaging centers.
Geographically, the diagnostics catheters market is bifurcated into North America, Asia Pacific, Europe and Rest of the World. North America is anticipated to accounts the largest market share during forecast period (2016-2023) followed by Europe and Asia Pacific. The driving factors of diagnostics catheters market in North America are rise in the number of diagnostic and imaging centers, technological advancements in imaging catheters, increasing incidence of cardiovascular disorders in the region and growing demand for minimally invasive surgeries. Asia Pacific market is anticipated to the fastest-growing region for the diagnostics catheters market and also is anticipated to witness significant growth. Asia Pacific has witnessed of increase in incidence of cardiovascular disorders, which leads to boost the demand of the diagnostics catheters market.
There are various players in the diagnostics catheters market are Boston Scientific Corporation (U.S.), St. Jude Medical, Inc (U.S.), Medtronic PLC (Ireland), Koninklijke Philips N.V. (Netherlands), B. Braun Melsungen AG (Germany), C. R. Bard, Inc (United States), Cardinal Health, Inc (U.S.), Terumo Corporation (Japan), Edwards Lifesciences Corporation (U.S.) and many more. These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching.