The world market for catheters, of which the cardiovascular segment accounts for more than half, was valued at more than $13.5 billion in 2007 and is expected to increase more than 60 percent in the next five years, according to Kalorama Information’s new report The Worldwide Market for Catheters.
The report, which provides market data from 2003 with growth forecasts through 2012, predicts that the cardiovascular catheter market will witness the highest compound annual growth rates. Catheters used for angiography and angioplasty demonstrate the greatest increase.
Cardiovascular uses of catheters analyzed in the report include PTCA, atherectomy, ablation electrophysiology, cardiac angiography, and peripheral angiography devices.
Innovation is also driving growth with the introduction of antiseptic-coated catheters aimed at reducing the two million infections contracted by hospital patients in the U.S. each year, and coronary catheters that have undergone changes with highly innovative, effective, minimally invasive devices arriving in the marketplace.
“Catheters will be used in smaller incisions or be made of materials that can withstand greater stresses,” author Joseph Constance noted. “Innovation is occurring as new applications open up for catheters, and the U.S. is in the forefront in developing premium catheter technology.”