The intravascular catheter market will show rapid growth due to the increasing cases of cardiovascular diseases and urological diseases, rapid improvement in intravascular catheter technology and the increasing number of catheterization labs.
There is an increasing prevalence of cardiovascular, neurological, oncological, urological and other gastroenterological diseases. The rising cases of these diseases require the usage of catheters for the surgeries and diagnosis that helps in boosting the global intravascular catheters market growth. Moreover, the increase in trauma injuries is also found in stimulating market growth. Additionally, urinary bladder related diseases, the prevalence of kidney failure, and other urological conditions are also some other factors propelling the growth of intravascular catheters.
Furthermore, the rapid improvement in intravascular catheter technology development has enabled the adoption of these devices. The technology development has led to the reduction of bleeding complications, simplification of complex interventions, and expedition of routine procedures. Therefore these advantages have helped in the growth of the market.
Scope of the Report
As per the scope of the report, intravascular catheters are found to be the thin tubes made of medical-grade, which are inserted in the body, especially in the veins to perform surgeries or treat infectious diseases. Basically, these tubes or medical devices allow the administration of gases, access to surgical instruments, and drainage along with performing various tasks depending on the patient’s condition.
Key Market Trends
Short Peripheral Intravascular Catheters (PIVC) are Expected to Dominate the Product Segment of the Intravascular Catheters Market During the Forecast Period
Short Peripheral Intravascular Catheters (PIVC) has dominated the market on account of the lower infection risk associated with these products. In addition, short PIVCs are mostly preferred over other catheters due to their quick discharge and short dwelling time.
According to the American Heart Association, cardiovascular disease (CVD), listed as the underlying cause of death, accounting for 840,678 deaths in the US in 2016, approximately 1 of every 3 deaths. In 2016, Coronary Heart Disease was the leading cause (43.2%) of deaths attributable to cardiovascular disease in the US, followed by stroke (16.9%), High Blood Pressure (9.8%), Heart Failure (9.3%), diseases of the arteries (3.0%), and other cardiovascular diseases (17.7%).
Therefore the factors such as increasing prevalence of cardiovascular, neurological, oncological, and gastroenterological diseases are anticipated to drive the demand for PIVC in surgical intervention and diagnostics.
The Asia Pacific is Found to Be the Fastest-Growing Segment of the Intravascular Catheters Market
The Asia Pacific has been the fastest-growing segment owing to the increasing investments in healthcare infrastructure, growing insurance coverage, and availability of reimbursements. There is also a growing prevalence of oncological disorders, infectious and renal diseases, and other urological problems and rising inpatient and emergency room procedures that help in increasing the use of intravascular catheters. The North America region is expected to dominate the overall market.
The market is highly competitive and comprises many players engaged in activities such as research and product development, medical device manufacturing, raw material supply, sales and distribution, and many other services. Therefore there is an increase in the number of companies investing in emerging nations that drives the market growth in such regions. The market is also influenced by ongoing mergers and acquisitions across key players.
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