Technologies Like TRUEref Drive Precision in Cardiac Mapping: Key Trend in the Cardiovascular Catheters Market 2024

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What Is The Expectated Market Size & Growth Rate for Cardiovascular Catheters?

The cardiovascular catheters market size has grown strongly in recent years. It is projected to grow from $18.44 billion in 2023 to $20.05 billion in 2024 at an impressive compound annual growth rate CAGR of 8.7%. The growth in the historic period can primarily be credited to increased funding for research and development, an upsurge in the use of catheters in electrophysiology EP procedures, expansion of cardiac catheterization labs in hospitals, a rise in interventional cardiology procedures, and growth in the prevalence of diabetes.

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What Are The Primary Growth Drivers & Emerging Market Trends in the Cardiovascular Catheters Market?

The cardiovascular catheters market size is expected to see consistent expansion over the next few years. It is expected to reach $28.17 billion by 2028 at a compound annual growth rate CAGR of 8.9%. The expected surge in the forecast period is driven by factors like a focus on reducing healthcare costs, increased adoption of hybrid operating rooms, rising investments by both public and private entities in cardiovascular research, accelerating usage of drug-eluting catheters, and the emergence and adoption of biodegradable catheter materials.

Major trends impacting the future growth of the market include the integration of AI in catheter-based procedures, development of advanced imaging technologies, emerging trends of miniaturized catheters, adoption of robotic-assisted catheter procedures, and development of wireless, battery-free catheters.

Moreover, the increasing prevalence of vascular heart diseases is expected to propel the growth of the cardiovascular catheter market. Vascular heart diseases are conditions affecting the blood vessels supplying the heart or those within the heart itself. Such diseases can be caused by changes in lifestyle habits, an aging population, and the rising incidence of conditions such as diabetes and hypertension. With cardiovascular catheters enabling minimally invasive procedures to diagnose, treat, and manage conditions such as blocked arteries and abnormal heart rhythms, their demand is only expected to grow - leading to quicker recovery and improved outcomes for patients.

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Who Are The Key Industry Players Dominating Cardiovascular Catheters Market?

Major companies operating in the cardiovascular catheters market include Abbott Laboratories, Medtronic plc, Johnson & Johnson MedTech, Koninklijke Philips N.V., Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, Edwards Lifesciences Corporation, W. L. Gore & Associates Inc., ZOLL Medical Corporation, Nipro Corporation, Cook Group Incorporated, Biotronik SE & Co. KG, Merit Medical Systems Inc., LivaNova plc, Cordis Corporation, Asahi Intecc Co. Ltd., AngioDynamics Inc., Endologix Inc., Wellinq, Cardionovum GmbH, Avinger Inc., CathRx, Andocor NV

These market leaders are not just present, but are innovating and driving the market forward. Among the notable emerging trends is the development of innovative products with advanced technologies, such as TRUEref technology, which boosts the accuracy and reliability of cardiac mapping. These advancements in technology are expected to foster the overall growth of the market in the near future.

How Is The Global Cardiovascular Catheters Market Segmented?

The cardiovascular catheters market report covers the following segments:

- By Product: Cardiovascular Therapeutic Catheters, Cardiovascular Diagnostic Catheters
- By Application: Coronary Artery Diseases CAD, Cardiac Arrhythmia, Heart Failure, Other Applications
- By End User: Hospitals, Clinics, Ambulatory Surgical Centers

What Are The Regional Insights Of The Cardiovascular Catheters Market?

Asia-Pacific was the largest region in the cardiovascular catheters market in 2023. However, North America is expected to be the fastest-growing region in the future. The other regions encompassed in the cardiovascular catheters market report are Western Europe, Eastern Europe, South America, Middle East, and Africa.

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