Global Diagnostic Catheter Market
Global Diagnostic Catheter Market was valued US$ 3.60 Bn in 2018 and is expected to reach 5.8 Bn by 2026, at a CAGR of 7.05 % during a forecast period.
Catheters are bendable tubes made of a material like polyvinyl chloride (PVC), plastic, nylon, and silicon rubber, which are inserted by a narrow opening into a patient body for diagnostic purposes. Catheters are used in numerous medical procedures like neurosurgery, angioplasty and cardiac electrophysiology.
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Change in end-user preference from conventional procedures to nominally invasive procedures is encouraging physicians to perform diagnostic procedures are expected to boost the global diagnostic catheter market growth. The growing prevalence of reproductive health issues and urological and gastroenterological issues are some of the driving factors behind the global diagnostic catheter market. The increasing incidence of neurological disorders, infertility, urological, and gastroenterological diseases is expected to increase the need for diagnostic procedures. On the other hand, the reuse of disposable diagnostic catheter and lack of skilled professionals are limiting the growth of the global diagnostic catheter market.
The electrophysiology catheters are expected to share significant growth in the global diagnostic catheter market. EP catheters are preffered to complete standard electrophysiology studies by recording protocols through intracardiac to regulate the electrical properties of the atrium and the ventricle. Steerable curve diagnostic catheters deliver high torque transmission, which offers the electrophysiologist the easiness of availability to turn the tip of the catheter with the rotational movement of the proximal hand through predefined distal curve shape. The demand for EP diagnostic catheters is increasing owing to increasing usage for mapping and localization capabilities.
A large number of surgeons perform numerous procedures using diagnostic catheters. The diagnostic processes can be complex and may need constant monitoring by doctors. Large hospitals are spending heavily on technically advanced and costly devices for diagnosis. An increasing trend for efficient and superior patient diagnosis in hospitals is expected to boost the growth in the global diagnostic catheter market.
The Asia Pacific region is projected to be a leading region in the global diagnostic catheter market. The dominant position in the market is attributed to the growing awareness about minimally invasive surgeries and increasing demand for technologically advanced imaging systems. Rising per capita healthcare expenditure, government initiatives, and growing huge investments to improve the healthcare infrastructure in the regions is projected to drive market growth in developing economies.
Prominent market key players are approving the product bundling strategy which includes a combination of two or more products or services. This product bundling compromises product differentiation with superior product offerings. Key players are also offering the EP diagnostic catheters bundled with the cryoablation catheters for the cryoablation procedure for the aligned diagnosis.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global diagnostic catheter market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global diagnostic catheter market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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