Thermodilution Catheters Market
Number of pages: 100 | Report Format: PDF | Published date: May 11, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
5.2% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Material Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global thermodilution catheters market is expected to register a revenue CAGR of 5.2% during the forecast period from 2023 to 2031
Thermodilution Catheters Market Fundamentals
Thermodilution catheters are specialized medical devices used to measure cardiac output, blood flow, and other hemodynamic parameters. The global thermodilution catheter market is driven by various factors, such as an increasing prevalence of cardiovascular diseases, rising demand for minimally invasive surgeries, technological advancements in catheterization techniques, and growing awareness about the benefits of thermodilution catheterization. The global thermodilution catheters market is also expected to benefit from the increasing adoption of advanced healthcare technologies in emerging economies, rising healthcare expenditure, and favorable government policies to improve healthcare infrastructure.
The global thermodilution catheters industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the thermodilution catheters market and their efforts to position themselves as critical players through expansion strategies and innovations. It also highlights recent developments that contribute to the thermodilution catheters market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
Thermodilution Catheters Market Dynamics
Several factors drive the global thermodilution catheters market. The growing burden of cardiovascular diseases worldwide is driving the demand for diagnostic and therapeutic procedures, including thermodilution catheters for measuring cardiac output and other hemodynamic parameters. For instance, according to the AHA's Heart Disease & Stroke Statistical Update Fact Sheet, published in January 2022, 244.1 million people were living with ischemic heart disease worldwide, which was more prevalent in males than females (141.0 and 103.1 million people, respectively). Additionally, according to WHO data updated in June 2021, nearly 33.5 million people worldwide suffer from atrial fibrillation (AFib), the most common type of serious arrhythmia. The demand for thermodilution catheters, which are used in catheterization techniques that only require a minor incision or puncture, is rising because of the trend toward minimally invasive operations. The development of more sophisticated and accurate thermodilution catheters that are simpler to use and produce more exact measurements is a result of advancements in catheterization technology. The market for these devices is being driven by a greater understanding of the advantages of thermodilution catheterization for treating cardiac and other hemodynamic problems among patients and healthcare professionals. The demand for thermodilution catheters is driven by rising healthcare spending and the expanding use of innovative medical technology in emerging nations. Overall, the global thermodilution catheter market is expected to continue growing in the coming years, driven by these and other factors.
However, alternative technologies can provide similar information, such as non-invasive cardiac output monitoring devices, which can restrain the growth of the global thermodilution catheters market.
Thermodilution Catheters Market Ecosystem
Thermodilution Catheters Market, by Material Type
Thermodilution Catheters Market, by End User
Thermodilution Catheters Market by Material Type
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Polyurethane thermodilution catheters accounted for a significant share of around 45% in the global thermodilution catheters market. This is because of their wide range of applications, safety, the lesser potential for patient latex hypersensitivity or allergy, and non-irritating qualities. Because polyurethane catheters are more flexible and mechanically durable than silicon catheters, the market is also predicted to gain favor among physicians. According to an article published in NCBI in July 2022, a Swan-Ganz catheter, also known as a right heart catheter, is a quadruple-lumen catheter with a thermodilution sensor that is attached to a pressure transducer outside the body to determine the central vein pressure, right atrial pressure, right ventricular pressure, and pulmonary artery pressure. These benefits are predicted to increase demand for manufacturers and propel the global market, along with a speedy increase in the use of thermodilution catheters for pulmonary arterial pressure monitoring.
The market segmentation sections provide the thermodilution catheters market outlook regarding the demarcation of different consumer groups. Market segmentation is the split of an industry into subgroups depending on characteristics such as material type, end user, and other factors. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential thermodilution catheter market demand opportunities.
Thermodilution Catheters Market by Region
North America accounts for the largest global thermodilution catheters market revenue share. This is due to several variables, including the increasing prevalence of cardiac disorders, the aging population, improved healthcare infrastructure, increased public awareness of available technologies among healthcare stakeholders, and a significant presence of industry participants in the area. For instance, 12.1 million Americans will probably have atrial fibrillation in 2030, according to a CDC 2022 report. According to the same source, cardiovascular disease claims one American life every 34 seconds. 1 in 5 deaths in the United States in 2020 was caused by heart disease, which claimed about 697,000 lives. The use of thermodilution catheters is anticipated to increase in the region due to the high burden and severity of the disease. To save lives affected by heart illnesses, numerous programs are run throughout the area. For instance, in the United States, the CDC and the Centers for Medicare & Medicaid Services jointly oversee the Million Hearts initiative nationally. The project got underway in January 2022 and will last through December 2026.
Due to the rapid development of emerging markets and the region's pharmaceutical and healthcare sectors, the market in the Asia Pacific region is anticipated to rise at a quick CAGR over the forecast period. Additionally, more thermodilution catheters are used for treatment as targeted disease cases rise. Up to two in five deaths in China are caused by cardiovascular disease (CVD), particularly stroke and ischemic heart disease (including heart attacks). In Korea, CVDs cost individuals, their homes, and the government more than US$ 7.2 Bn (direct and indirect expenses), according to a June 2020 article in Biospectrum.
Based on the regions, the global thermodilution catheters market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of thermodilution catheters industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level thermodilution catheters market overview.
Key Components of the Report
Thermodilution Catheters Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Thermodilution Catheters Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Thermodilution catheters are medical devices that measure cardiac output and other hemodynamic parameters in critically ill patients. These catheters consist of a long, thin, flexible tube inserted through a vein into the heart. The catheter has a thermistor, which measures blood temperature as it passes through the heart.
North America would have the largest thermodilution catheters market size during the forecast period from 2023 to 2031.
The global thermodilution catheters are expected to grow at a 5.2% revenue CAGR during the forecast period from 2023 to 2031.
The increasing prevalence of CVDs, such as heart failure, cardiogenic shock, and sepsis, is expected to drive the demand for thermodilution catheters. These catheters are commonly used in critically ill patients with CVDs to monitor hemodynamic parameters and guide treatment decisions.
The availability of thermodilution catheters may be limited in some regions, particularly in developing countries, which can limit their adoption.
Argon Medical Devices, Alpha Medical Instruments LLC, B. Braun Melsungen, Biosensors International Limited, and CardioMed Supplies are the key players in the global thermodilution catheters market.
One of the most prominent trends in the thermodilution catheters industry is the development of advanced technology that offers greater accuracy, reliability, and efficiency in hemodynamic monitoring.
Companies are focusing on developing new and advanced thermodilution catheters with improved features such as better accuracy, ease of use, and reduced risk of complications.
The polyurethane segment has the highest share in the global thermodilution catheters market.
*Insights on financial performance are subject to the availability of information in the public domain