Cardiac Guidewire And Catheters Market: By Product Type (Coronary Balloons, Diagnostic Catheters, Aspiration Catheters, Guide catheter), By End User (Hospitals, Ambulatory Surgical Centers, Cardiac Centers), and Geography – Market Estimation, Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024.
Global Cardiac Guidewire and Catheters Market
Cardiovascular diseases are one of the leading diseases worldwide. According to Center for Disease Control and Prevention, about 610,000 die every year because of heart diseases in the United States alone. Cardiac guidewires and catheters are used to diagnosis and prevention of the cardiac diseases and process are known as cardiac catheterization. Catheters are usually hallowed flexible tube that can be inserted into a body cavity, duct or vessel. Catheters allow injecting fluids, distend a passageway for surgical instruments. Guide wires are stainless steel or metallic alloys that guide the cardiac catheter for placement.
Global Cardiac Guidewire and Catheters Market Outlook
The Cardiac Guidewire and Catheters Market expected to grow at significant rate owing to increase in the prevalence of cardiovascular diseases. According to CDC, heart disease is the leading cause of death for both men and women. More than half of the deaths caused due to heart disease in 2009 were in men. In addition, factors such as, increase in awareness about different cardio devices, less traumatic surgical experience, reduced hospital stay, and faster recovery are expected to boost the global cardiac guidewire and catheters market over the forecast period. However, high cost, lack of experienced healthcare professionals, and recent product recalls are hindering the cardiac guide wire and catheters market.
Global Cardiac guidewire and catheters market has been segmented based on product and end-user
On the basis of product, cardiac guidewire and catheters market is segmented into
- Coronary Balloons
- Diagnostic Catheters
- Aspiration Catheters
- Guide catheter
Based on end-user, cardiac guidewire and catheters market is segmented into
- Ambulatory Surgical Centers
- Cardiac Centers
Global cardiac guidewire and catheters market is expected to grow at a notable rate during the forecast period owing to increased tobacco usage and lifestyle changes such as intake of high-fat food. According to Centers for Diseases Control and Prevention, (CDC) secondhand smoke causes nearly 34,000 early deaths from coronary artery disease each year in the United States among the non-smokers. The market competition is expected to grow higher with the rise in technological innovation and mergers and acquisition activities. Moreover, many local and regional vendors are offering specific application products for varied end-users. For instance, in December 2014, Abbott laboratories acquired, an electrophysiology technology company Topera, Inc., by this acquisition enabled Abbott entered into catheter-based electrophysiology market.
The geographically global cardiovascular guidewire and catheters market segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America expected to have major market for cardiac guidewire and catheters market owing to increase in demand for less invasive techniques, a prevalence of the cardiovascular diseases, and awareness about the cardiac diseases. Europe market is expected to grow at significant rate owing to increase in cardiac disease prevalence rates. Asia-Pacific region is expected to grow at faster rates due to developing healthcare infrastructure and increase in healthcare spending in the region. Countries such as India and China create significant opportunity for cardiac guide wire and catheters market manufacturers owing to increase in cardiovascular disease conditions, a surge in diagnostic and treatment procedures for cardiovascular diseases in the Asia-Pacific market.
Some of the players in global cardiac guidewire and catheters market are Abbott Laboratories (U.S), Boston Scientific Corporation (U.S), Maquet (Germany), Medtronic (U.S), LivaNova PLC. (U.K), Terumo Medical Corporation (Japan), Johnson & Johnson Services Inc., (U.S), Biotronik (Germany) and Cordis Corporation (U.S) to name a few
- In March 2017, U.S. Food and Drug Administration (FDA) approved Abbott’s new sensor-enabled FlexAbility ablation catheter, designed to work with EnSite Precision cardiac mapping system and MediGuide Technology to safely treat atrial flutter (condition similar to atrial fibrillation) and heart rhythm disorder
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