Catheter Introducer Sheaths Market Size to Cross USD 1.6 Bn by 2031 | Transparency Market Research
WILMINGTON, DE / ACCESSWIRE / March 20, 2023 / Transparency Market Research Inc. - The global catheter introducer sheaths market was valued at USD 1.0 Bn in 2022 and is projected to reach USD 1.6 Bn by 2031 with CAGR of 5.3%.
Increase in prevalence of cardiovascular diseases, advances in medical technology, surge in awareness about cardiac conditions and treatments, government support for the development of new products, and expanding geriatric population are some key factors fueling the catheter introducer sheaths market.
Catheter introducer sheaths are mostly used during interventional procedures that require access to the cardiovascular system. These provide a stable pathway to introduce other medical devices into blood vessels.
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Advances in medical technology is anticipated to create new revenue streams, and thus fuel business growth. Rise in development of new catheter sheaths, which lower the risk of contamination, help reduce procedure time, are easy to use, and provide improved patient comfort and safety, are anticipated to propel market development.
Global Catheter Introducer Sheaths Market - Key Findings of Report
Rise in Prevalence of Cardiovascular Diseases Fuels Demand - Prevalence of cardiovascular diseases has increased in the last few decades due to several factors. Surge in life expectancy is likely to lead to more number of individuals developing conditions, such as diabetes, hypertension, and high cholesterol, which increases the risk of cardiovascular diseases. Change in lifestyle has contributed to the growing prevalence of CVDs, which in turn is fueling market demand.
Advancements in Technology and Materials - Technological advancements and introduction of novel materials have led to the development of new and improved catheter introducer sheaths. Increased safety and compatibility, and ease of use are some characteristics of novel devices that enable reduced friction, improved safety, increased flexibility, and smaller incision diameter.
Usage of Surface Coatings Facilitates Insertion of Medical Devices - Usage of hydrophilic coatings on the surface of catheter introducer sheaths helps reduce friction, making it easier to insert catheters and other medical devices through the sheath and into the targeted blood vessel. Furthermore, advent of new materials, such as nitinol, has enabled development of advanced catheter introducer sheaths with high flexibility and kink resistance than predecessor products.
Integrated Introducer Sheaths Segment Led the Market - In terms of product type, the integrated introducer sheaths segment accounted for the leading share of the global industry in 2022. Design and functionality of integrated introducer sheath enables access to the vascular system for intensive procedures, such as vascular surgery and interventional radiology. Furthermore, ease of use and user-friendliness are the other key attributes of integrated introducer sheaths, which eliminates the need of a separate dilator and reduces the risk of air embolisms during the insertion of sheath.
Cardiology Segment Led the Market - Based on application, the cardiology segment held the largest catheter introducer market share in 2022. Growth of the segment is ascribed to rise in prevalence of cardiovascular diseases, which have resulted in rise in a number of interventional cardiology procedures.
Hospitals Segment Dominated Market - In terms of end-user, the hospitals segment led the catheter introducer sheaths market in 2022. Hospitals have the necessary infrastructure for interventional processes where catheter introducer sheaths are used. Hospitals are undertaking minimally invasive procedures on a large scale, which require catheter introducer sheaths.
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Catheter Introducer Sheaths Market - Growth Drivers
Increase in prevalence of cardiovascular diseases, advances in medical technology, and surge in awareness about cardiac conditions are driving the catheter introducer sheaths market
Rise in life expectancy leading to increased risks of developing heart diseases is propelling demand for catheter introducer sheaths
Global Catheter Introducer Sheaths Market - Competition Landscape
Key players are engaged in expansion of product portfolio and merger & acquisition to expand market share. Prominent companies operating in the global market include Medtronic, Teleflex Incorporated, Cook Medical Inc., B. Braun Melsungen AG, Merit Medical Systems, Boston Scientific Corporation, Terumo Corporation, C.R. Bard, Inc., Edwards Lifesciences Corporation, Biotronik, and Smiths Medical.
Catheter Introducer Sheaths Market - Regional Insights
North America is a key market for catheter introducer sheaths, led by the U.S. High incidence of heart failure and other cardiac conditions, rapid adoption of novel medical devices, and aging population are propelling the market in the region. Furthermore, North America is home to a large number of medical device companies, which is anticipated to create business opportunities in the next few years.
Asia Pacific is emerging as a key market for catheter introducer sheaths. Rise in prevalence of heart attack & other cardiac conditions, surge in geriatric population, and increase in demand for improved treatment options are fueling industry growth in Asia Pacific. Furthermore, rapid modernization of the healthcare sector is likely to increase the region's market share in the next few years.
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Global Catheter Introducer Sheaths Market Segmentations:
By Product type
Integrated Introducer Sheaths
Separable Introducer Sheaths
Ambulatory Surgical Centers
Middle East & Africa
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