Market Trends of Global Angiographic Catheters Industry
This section covers the major market trends shaping the Angiographic Catheters Market according to our research experts:
Hospital is Expected to Hold Significant Market Share in the End User Segment
The hospital segment is expected to dominate the overall angiographic catheter market. The factors attributing to the dominance of this segment are enhanced healthcare infrastructure, availability of skilled labor, and affordability. The rise in patient pool, owing to substantial growth in the geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, is expected to enhance revenue generations of the hospitals.
Similarly, with the rising burden of diseases caused by unhealthy lifestyles such as obesity, being overweight is expected to drive the growth of the market. The article published by A-ManisaBiotech in 2020 states that more than 2 billion adults, 18 years and older were overweight across the world. Of these, over 650 million were obese in the world. Moreover, compared to conventional surgeries, the benefits of minimally invasive surgeries such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and speedy recovery time are encouraging more patients to opt for minimally invasive surgeries, which is expected to boost the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America holds the majority share of the market due to the high disease burden, access to modern healthcare infrastructure, high penetration of technological advancements, and favorable reimbursement policies for cardiac diseases.
The high investment in the healthcare sector and active collaboration between academic research centers, government agencies, CROs, and other stakeholders are accelerating the introduction of new products in the market. For instance, the article titled" Spending on Cardiovascular disease and cardiovascular risk factors in the United States" published in April 2021 mentioned that the United States adult cardiovascular spending increased by more than USD 100 million in the past ten years.
Additionally, the report titled ' the number of older people will hit the United States economy like a 'brick'- US trade Secretary', published in April 2021, about 16.5% of the United States population, or 54 million, over the age of 65 by 2020. By 2030, that number will rise to 74 million. The number of people over the age of 85, who are at risk of developing heart disease in the country, is expected to increase significantly. Such an increase in the elderly population leads to the rising demand for the angiographic catheter market. It can lead to an increase in the pool of patients, who are suffering from Cardiovascular disease.
