Catheters market benefits from new medical techniques

In a new report, the US research group forecasts the market to reach $32.1bn in 2014, at a compound annual growth rate of 12.3%.

It said catheterization procedures have steadily increased as interventional and less-invasive procedures have become more popular. “Catheters are vital to the completion of many procedures, and some procedures or interventions, particularly in cardiovascular surgery and neurosurgery, could not be done without the use of catheters,” said BCC.

The largest market segment is cardiovascular, where catheter sales were $6bn in 2008. That is projected to increase to $7.1bn in 2009, and then rise by an average 10.2% each year to $11.6bn in 2014.

The second-largest segment is urology, with revenue of $4.4bn in 2008. This segment is expected to reach nearly $6bn in 2009, and increase to $13.2bn in 2014, for the highest annual growth rate among all segments at 17.1%.

BCC said market growth drivers include: the emergence of newer catheters with superior efficiency and reduced risk of infection; an increase in minimally-invasive procedures requiring catheters; and advances in imaging technology that has led to new applications and an increase in procedures requiring the use of catheters.

“Market restraints include price erosions due to fierce competition that are shrinking revenues, long FDA approval times resulting in delayed launches of new products, reimbursement issues, and reluctance of physicians to accept new device technologies,” said BCC.

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