Medical Specialty Catheters Market Report 2024 (Global Edition)

Global Medical Specialty Catheters Market Report 2024 Market Size Split by Type (Pressure and Hemodynamic Monitoring Catheters, Temperature Monitoring Catheters, Intrauterine Insemination Catheters, O...

Medical Specialty Catheters Market Report Description

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Medical Specialty Catheters Market Insights Video

Competitive Landscape of the Medical Specialty Catheters Market

Global major players including Johnson & Johnson, Medtronic Plc, and Boston Scientific Corporation are in fierce competition with one another in the medical catheter industry. Businesses are concentrating on R&D to present cutting-edge catheter designs and materials. Companies that want to broaden their product offerings and geographic reach frequently engage in strategic alliances, mergers, and acquisitions. In order to stay ahead of the competition, quality, patient safety, and compliance with regulations are essential. The industry is becoming more diverse and dynamic as a result of the rise of niche businesses that provide customized catheters for certain medical purposes.

February 2023: Teleflex announced that the FDA in the United States had approved their Triumph Catheter. Because of its distinctive form, this catheter offers good vision and accurate wire movement. Furthermore, according to Teleflex, the UW Medicine Heart Institute in Seattle, Washington, was the site of the GuideLiner Coast Catheter's initial clinical application. (Source: https://investors.teleflex.com/news/news-details/2023/Teleflex-Expands-Interventional-Cardiology-Portfolio-with-Two-New-FDA-Cleared-Catheter-Devices-for-Use-in-Complex-Percutaneous-Coronary-Interventions-PCI/default.aspx ) December 2022: Boston Scientific made a calculated strategic investment to purchase a sizable portion of Acotec Scientific Holdings Limited, a Chinese manufacturer of medical equipment. This company is well-known in China for producing other medical items in addition to drug-coated balloons (DCBs). Through this collaboration, Boston Scientific hopes to increase its footprint in the area. (Source: https://news.bostonscientific.com/2022-12-11-Boston-Scientific-Announces-Strategic-Investment-to-Acquire-Majority-Stake-of-Acotec-Scientific-Holdings-Limited ) January 2022: The manufacturer of cutting-edge specialty catheters, Smiths Group plc, announced that ICU Medical Inc. has acquired Smiths Medical. Through this acquisition, the business was able to grow both its clientele and its line of products. (Source: https://www.icumed.com/about-us/news/2022/icu-medical-completes-acquisition-of-smiths-medical/ )

Top Companies Market Share in Medical Specialty Catheters Industry: (In no particular order of Rank)

• Medtronic plc
• Johnson & Johnson
• ConvaTec
• Boston Scientific
• Abbott
• B Braun
• Teleflex Incorporated
• Terumo Corporation
• Merit Medical Systems
• Inc.
• Prunus Medical
• Hollister
• Stryker
• Becton
• Dickinson and Company
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Regional Analysis of the Medical Specialty Catheters Market

Which Region Dominates the Medical Specialty Catheters Market in 2024?

According to Cognitive Market Research, North America currently dominates the Medical Specialty Catheters market, and the region is expected to have significant growth during the projected period. The need for specialized catheters used in the management and treatment of chronic diseases such as diabetes, renal problems, and cardiovascular diseases is driven by their increasing prevalence. Furthermore, minimally invasive procedures are becoming more and more popular in North America due to benefits like shorter recovery periods, shorter hospital stays, and better patient outcomes.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR), because rising healthcare costs encourage the use of cutting-edge medical technology, such as specialized catheters. People and healthcare facilities have more money to spend on medical procedures and devices as the region's economy expands. Furthermore, as healthcare spending rises as a result of the expanding healthcare coverage and better access to medical services, specialty catheter demand as a component of all-inclusive medical treatment options rises.

The current report Scope analyzes Medical Specialty Catheters Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Medical Specialty Catheters Market

According to Cognitive Market Research, the global Medical Specialty Catheters market size was estimated at USD 6815.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 2726.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Medical Specialty Catheters market with a market size of USD 2150.88 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period propelled by developments in technology, a rise in the number of chronic illnesses, and an expanding healthcare system.
• The Canada Medical Specialty Catheters market had a market share of USD 327.13 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period because of the vast patient population, expanding healthcare facilities, and fast urbanization.
• The Mexico Medical Specialty Catheters market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 248.07 million in 2024.

Europe Medical Specialty Catheters Market

According to Cognitive Market Research, the global Medical Specialty Catheters market size was estimated at USD 6815.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 2044.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

• The United Kingdom Medical Specialty Catheters market had a market share of USD 343.49 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period because this nation has well-established healthcare systems.
• The France Medical Specialty Catheters market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 188.10 million in 2024.
• According to Cognitive Market Research, the German Medical Specialty Catheters market size was valued at USD 404.82 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period due to the existence of a sophisticated healthcare system, an aging population, and a rise in the incidence of chronic illnesses.
• The Italy Medical Specialty Catheters market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 175.83 million in 2024.
• The Russia Medical Specialty Catheters market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 316.91 million in 2024.
• The Spain Medical Specialty Catheters market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 167.65 million in 2024
• The Luxembourg Medical Specialty Catheters market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 63.38 million in 2024.
• The Portugal Medical Specialty Catheters market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 42.94 million in 2024.
• The Greece Medical Specialty Catheters market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 24.53 million in 2024.
• The Rest of Europe's Medical Specialty Catheters market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 316.91 million in 2024.

Asia Pacific Medical Specialty Catheters Market

According to Cognitive Market Research, the global Medical Specialty Catheters market size was estimated at USD 6815.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 1567.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Medical Specialty Catheters market size was valued at USD 705.37 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period driven by advancements in technology, an increase in the prevalence of chronic illnesses, and the growth of the healthcare sector.
• The Japan Medical Specialty Catheters market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 216.31 million in 2024.
• The India Medical Specialty Catheters market had a market share of USD 188.10 million in 2024 and is projected to grow at a CAGR of 12.8% during the forecast period due to the large number of patients, growing number of healthcare institutions, and rapid urbanization.
• The South Korean Medical Specialty Catheters market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 156.75 million in 2024.
• The Australian Medical Specialty Catheters market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 81.51 million in 2024.
• The South East Asia Medical Specialty Catheters market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 108.16 million in 2024.
• The Rest of Asia Pacific Medical Specialty Catheters market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 111.29 million in 2024.

South America Medical Specialty Catheters Market

According to Cognitive Market Research, the global Medical Specialty Catheters market size was estimated at USD 6815.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 340.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Medical Specialty Catheters market size was valued at USD 145.85 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period because the healthcare systems in this country are well-established.
• Argentina's Medical Specialty Catheters market had a market share of USD 57.25 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period because of an aging population, an advanced healthcare system, and an increase in the prevalence of chronic illnesses.
• Colombia Medical Specialty Catheters market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 30.33 million in 2024.
• Peru Medical Specialty Catheters market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 27.94 million in 2024.
• Chile Medical Specialty Catheters market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 24.53 million in 2024.
• The Rest of Latin America's Medical Specialty Catheters market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 54.86 million in 2024.

Middle East and Africa Medical Specialty Catheters Market

According to Cognitive Market Research, the global Medical Specialty Catheters market size was estimated at USD 6815.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 136.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031..

• The GCC Countries Medical Specialty Catheters market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 58.34 million in 2024 driven by the expansion of the healthcare industry, a rise in the frequency of chronic conditions, and technological improvements.
• The Egypt Medical Specialty Catheters market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 14.31 million in 2024.
• The South Africa Medical Specialty Catheters market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 21.54 million in 2024 due to a growing number of chronic illnesses, an aging population, and an improved healthcare system.
• The Turkey Medical Specialty Catheters market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 11.72 million in 2024.
• The Nigeria Medical Specialty Catheters market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 14.31 million in 2024.
• The Rest of the MEA Medical Specialty Catheters market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 16.08 million in 2024.

Medical Specialty Catheters Market Analysis

Medical Specialty Catheters Market Type Segment Analysis

According to Cognitive Market Research, pressure and hemodynamic monitoring catheters category is likely to dominate the Medical Specialty Catheters Market over the forecast period driven by the need for real-time monitoring of vital health markers in intensive care units and the increased incidence of cardiovascular disorders. The usage of these catheters has increased as medical facilities implement cutting-edge hemodynamic monitoring technologies to improve patient outcomes, especially in industrialized nations with strong healthcare infrastructures. Technology advancements like wireless and compacted pressure monitoring catheters are also increasing adoption rates and accelerating market expansion in this industry.

The intrauterine insemination catheters are the fastest-growing segment in the Medical Specialty Catheters Market because of rising rates of infertility and a global increase in the knowledge of and acceptance of assisted reproductive technology (ART). The need for IUI catheters has increased because of the rise in fertility treatments, especially in areas where infertility clinics are becoming more and more prevalent. This category is growing as a result of improvements in patient comfort and ease of use through catheter design innovations. Growth in this market is anticipated to be further fueled by the tendency of postponed pregnancies and increased demand for fertility solutions in both developed and emerging regions.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Medical Specialty Catheters Industry. Request a Free Sample PDF!

Medical Specialty Catheters Market Application Segment Analysis

According to Cognitive Market Research, the hospitals segment holds the largest share of the market driven by the rise in minimally invasive and sophisticated surgical procedures that call for cutting-edge catheter technologies. As major healthcare providers, hospitals are implementing specialized catheters for urology, neurology, and cardiovascular therapy, among other uses. Hospital specialty catheter demand is also being influenced by increased healthcare spending, better infrastructure, and an increasing focus on patient care. Additionally, the rise in chronic illnesses like cardiovascular problems is driving hospitals to spend money on cutting-edge medical equipment, which is driving up market expansion in this sector.

In the Medical Specialty Catheters Market, the long-term care facilities have been expanding at a rapid pace as a result of the growing number of older adults and the occurrence of chronic illnesses like diabetes and kidney disease that call for ongoing care. Specialty catheters, such as urine and vascular catheters, are being used more frequently at these facilities to manage patients over the long term. The adoption of these catheters in long-term care settings is being driven by the need for more affordable healthcare solutions as well as the desire for improved patient outcomes.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Medical Specialty Catheters Material Segment Analysis

Medical Specialty Catheters Market Material Segment Analysis

According to Cognitive Market Research, the polyurethane segment holds the largest market share because of its strength, flexibility, and capacity for high-pressure applications. They are ideal for short-term applications like intravenous catheterization and vascular access. A major reason why polyurethane is preferred for high-performance applications like central venous and peripherally implanted central catheters (PICCs) is because of its smaller walls, which enable a higher flow rate. The rising popularity of minimally invasive operations, which frequently use polyurethane catheters because of their precise control and low risk of trauma during insertion, is another factor fueling their expansion.

In the Medical Specialty Catheters market, the rapidly growing sector is the silicone category. Because silicone catheters are flexible and biocompatible, they are becoming more and more popular for long-term usage in medical applications, including cardiovascular and urine catheters. Adoption of the material has been further boosted by its resistance to bacterial colonization and decreased risk of allergic reactions. Silicone catheters are also preferred in situations requiring longer catheterization, which adds to their growing demand, especially in the chronic care and geriatric populations.

• Silicone
• Polyurethane
• PVC
• Teflon
• Other Materials

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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