Global Cardiac Catheters & Guidewires Market Size, Share, Forecast Report, 2020-2027

The global cardiac catheters and guidewires market size was valued at USD 12.12 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2020 to 2027. Demand for cardiac catheters and guidewires is on the rise owing to rising prevalence of cardiovascular diseases (CVDs), favorable reimbursement policies for coronary intervention procedures, increasing incidence of diabetes across the globe, and launch of new product lines in the market. Cardiovascular diseases have become one of the major causes of mortality and morbidity in the world over the last three decades. Coronary artery disease, arrhythmias, peripheral vascular disease, and congenital heart defects are the major cardiovascular diseases that are prevalent across the globe.

Cardiac catheters and guidewires are majorly used for the treatment of such diseases. For instance, catheter-based interventional procedure is recommended by doctors for the treatment of coronary artery disease. In this procedure, cardiac catheter is used for opening the blockage of coronary arteries, which increases the blood flow to the heart.

Furthermore, angioplasty is recommended for the treatment of peripheral vascular diseases. In this procedure, the cardiac catheter is inserted through the blood vessel to examine the affected artery, which then reopens the artery and flattens the blockage of the artery wall. According to the report published by the American Heart Association, in 2018, around 92.1 million Americans were living with some form of CVD and CVD is the most common cause for mortality in the country as compared to cancer and other chronic diseases. It also reported that around 2,300 Americans die due to cardiovascular disease per day, which is around 1 death every 38 seconds. Similarly, as per the report published by the World Atlas, Russia has the highest prevalence of CVD, which is around 57.0% of the mortality cases in the country are caused by CVD.

High incidence of diabetes is one of the major reasons for increased cardiovascular diseases across the globe. Diabetic patients are more prone to develop certain health risks, such as high cholesterol, high blood pressure, heart diseases, and stroke. In addition, long term diabetes damages the blood vessel and nerves that directly controls the heart muscles. This also increases the chance of acquiring cardiovascular diseases. Moreover, people suffering from diabetes also tend to develop heart disease and stroke at a very young age. Furthermore, diabetes also triggers the risk of developing obesity, which, in turn, increases the risk of cardiovascular diseases. Thus, continuous monitoring of blood glucose levels is very much necessary to avoid such risks.

The diabetes is generally of two types: Type I and Type II. Type II diabetes is the most common type of diabetes and more than 90.00% of diabetes cases are type II diabetes occurring across the globe. Heart diseases and stroke are majorly caused due to type II diabetes. According to the report published by the International Diabetes Federation, in 2019, the proportion of people suffering from type II diabetes is increasing across the globe. It also reported that, in 2019, around 463.0 million adults were suffering from diabetes, which is anticipated to increase around 700.0 million by 2045. In 2019, more than 1.1.million adolescents and children suffered from type I diabetes across the globe. Around 79.00% of adults living with diabetes are majorly from middle and low-income countries. Furthermore, in recent years, Caribbean, Middle East, Latin America, and some nations of the Pacific Islands marked the highest prevalence of diabetes in the world.

The type I and type II diabetes are mainly caused due to major genetic mutations and adoption of sedentary lifestyles. Monogenic diabetes is generally caused due to mutations in a single gene. Such changes are usually inherited from families, but sometimes the mutation of a gene can also happen post-birth. The majority of the mutated genes lower the functionality level of the pancreas, thereby increasing the risk of acquiring diabetes. The most common types of monogenic diabetes are maturity-onset diabetes in young adults and neonatal diabetes. Neonatal diabetes generally happens in the first six months of life.

Furthermore, adoption of unhealthy lifestyles, such as smoking, physical inactivity, and improper diet, is responsible for diabetes. Cardiac catheterization, angioplasty, and Percutaneous Coronary Intervention (PCI) are some of the major procedures used for the treatment of cardiovascular diseases. Cardiac catheters and guidewires are one of the essential requirements for these procedures. They are majorly used for opening the blocked arteries and proper placement of devices. Since diabetes is one of the major reasons for triggering cardiovascular diseases, thus increasing diabetes cases are expected to surge the demand for cardiac catheters and guidewires over the forecast period.

Product Insights
On the basis of product, the market for cardiac catheters and guidewires is categorized into cardiac catheters and cardiac guidewires. The cardiac catheters held the largest revenue share of 85.5% in 2019 and is anticipated to witness the fastest growth over the forecast period owing to increasing cases of cardiovascular diseases across the globe. Cardiac catheters are generally used to open blocked blood vessels and allow enhanced blood flow. It gets inflated when inserted inside the blood vessels, thereby increasing the blood flow.

Cardiac catheters are majorly used in cardiac catheterization, angioplasty, Percutaneous Coronary Intervention (PCI), and other interventional procedures. In cardiac catheterization, the cardiac catheter is used to evaluate heart muscle function, estimate the need for further treatment, and evaluate the presence of valve disease and coronary artery disease. Similarly, in the case of angioplasty and other interventional procedures, insertion of the cardiac catheter is the initial step for these procedures.

Increasing cases of cardiovascular diseases across the globe are contributing to the cardiac catheter segment growth over the forecast period. For instance, as per the report published by the World Heart Federation, in 2018, 80.0% of the deaths in low to middle-income countries are caused due to cardiovascular diseases. Similarly, as per the World Health Organization (WHO), in 2018, around 17.9 million deaths occur globally due to CVDs. Therefore, such factors are anticipated to propel the demand for cardiac catheterization, angioplasty, and other interventional procedures, which, in turn, will raise the demand for cardiac catheters.

Moreover, currently, no such substitutes for cardiac catheters are available in the market, which is a major factor for the segment growth. The cardiac catheter segment is further subdivided into electrophysiology catheters, IVUS catheters, PTCA balloon catheters, PTA balloon catheters, and others.

End-use Insights
Based on end use, the market for cardiac catheters and guidewires is categorized into hospitals, clinics, and ambulatory surgery centers. The hospitals segment dominated the market for cardiac catheters and guidewires with a share of 41.1% in 2019 in terms of revenue owing to rising incidence of cardiovascular diseases across the globe. For instance, as per the report published by the Centers for Disease Control & Prevention (CDC), in 2018, coronary heart disease is the most common type of cardiovascular disease and more than 370,000 people die every year in U.S. It also reported around 735,000 Americans to have a heart attack every year. Angioplasty, PCI, and cardiac catheterization are majorly recommended for the treatment of such problems, thus increase in the cases of such diseases is expected to increase the hospital admission rate.

In addition, rising number of hospitals across the globe is anticipated to surge the segment growth over the forecast period. For instance, as per the 2019 report published by the American Hospital Association, around 6,210 hospitals were reported in U.S. in 2018, out of which 2,968 are nongovernment not-for-profit community hospitals and 972 are state and local government community hospitals.

The ambulatory surgery centers segment is anticipated to witness the fastest growth over the forecast period. Ambulatory surgery centers are also known as outpatient surgery centers and are generally opted by patients undergoing less complicated procedures and requiring a limited period of stay. The minimally invasive interventional procedures allow rapid healing and require limited stay period. Thus, patients opting for such procedures generally prefer to choose ambulatory surgical centers.

For instance, Percutaneous Transluminal Coronary Angioplasty (PTCA) and Percutaneous Transluminal Angioplasty (PTA) are minimally invasive interventional procedures, which allow rapid healing and the patients can get back to their normal life within a short period of time. Currently, demand for minimally invasive procedures is increasing across the globe owing to their several advantages, which, in turn, is expected to raise the demand for ambulatory surgical centers.

Regional Insights
North America dominated the market for cardiac catheters and guidewires with a share of 45.4% in 2019. Several favorable reimbursement policies, introduction of technologically advanced products, and presence of several key players in the market are anticipated to drive the regional market. In addition, this region is governed by regulatory bodies, which have laws for the reimbursement of coronary interventional procedures. For instance, Medicare Part A covers the technical components of cardiac catheterization procedure. Medicare Part B covers the expenses of professional components of the procedure performed in hospital outpatient and inpatient settings.

Asia Pacific is anticipated to witness the fastest growth over the forecast period. The market is majorly driven by increasing incidence of cardiovascular diseases and diabetes. In addition, emerging economies such as China, Japan, South Korea, and India are expected to witness considerable growth over the forecast period. Moreover, presence of several local players in China and Japan may boost the regional market growth.

However, certain developing countries in this region are expected to witness moderate growth over the forecast period. Low adoption of advanced healthcare facilities and lack of sufficient skilled professionals in such countries may hinder the market growth. Moreover, lack of awareness among people regarding the treatment of cardiac diseases and low healthcare reimbursement facilities in the developing countries are anticipated to restrain the market growth.

Key Companies & Market Share Insights
Key players are involved in adopting strategies such as mergers and acquisitions, product launch, partnerships, and agreement to strengthen their position in the market. For instance, in June 2019, Abbott launched HD grid mapping catheter in India to aid in complex cardiac ablation procedure. Such instances are anticipated to increase the geographical presence and customer base of the company.

Furthermore, in March 2018, Boston Scientific Corporation launched iCross Coronary Imaging Catheter. This cardiac catheter is designed to improve the deliverability of the company's market-leading intravascular ultrasound (IVUS) technology. This may positively impact the revenue of the company. Some of the prominent players in the global cardiac catheters & guidewires market are:

Abbott

Boston Scientific Corporation

Getinge AB

Terumo Medical Corporation

Medtronic

Biotronik SE & C0. KG

Biosense Webster, Inc.

Cordis

QXMédical

Teleflex Incorporated

Segments Covered in the Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, has segmented the global cardiac catheters & guidewires market report on the basis of product, end use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Cardiac Catheters

    • Electrophysiology Catheters

    • PTCA Balloon Catheters

    • IVUS Catheters

    • PTA Balloon Catheters

    • Others

  • Cardiac Guidewires

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospitals

  • Clinics

  • Ambulatory Surgery Centers (ASCs)

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • France

    • Italy

    • Switzerland

    • Netherlands

    • Greece

    • Poland

    • Bulgaria

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Singapore

    • Malaysia

    • Russia

    • New Zealand

    • Vietnam

    • Hong Kong

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • MEA

    • South Africa

    • Saudi Arabia

    • Egypt

    • UAE