Market Trends of Global Cath Lab Services Industry
Therapeutics Segment is Expected to Hold the Significant Share in the Market Over the Forecast Period
The therapeutics segment is expected to have a significant share in the market growth during the forecast period owing to the adoption of interventional procedures like atherectomy, percutaneous coronary intervention, stenting, and thrombectomy. In addition, the increasing preference for robot-assisted surgeries is expected to increase the cath lab treatments, likely boosting segment growth.
For instance, in February 2023, Galway conducted a robot-guided coronary intervention in Ireland and the United Kingdom. This technology is used in stent procedures usually performed in the cardiac cath lab to relieve heart artery blockages. Similarly, in March 2023, Apollo Hospital stated that it had crossed the landmark of over 10,000 robotic surgeries. In the last two years, the group has witnessed over 400% increase in robotic-assisted procedures performed across its hospitals in India. This shows the increasing preference for robot-assisted surgeries, which likely increases the cath lab services for treatment and is expected to grow significantly in the segment.
Moreover, the new installations of active Cath labs help manage cardiac complications, which is expected to grow in the segment. For instance, in December 2021, Royal Philips completed the 1000 active Cath lab (interventional suite) installations in India for better health outcomes, patient experience, staff experience, and lower cost of care. Thus, the abovementioned factors are expected to drive the therapeutics segment growth over the forecast period.
North America is Expected to Have Significant Growth in the Market Over the Forecast Period
North America is expected to have a significant share of the cath lab service market owing to the well-established healthcare industry, the growing burden of cardiovascular diseases, rising healthcare expenditure, and increasing preference for robotic-assisted surgeries. For instance, in February 2023, the Public Health Agency of Canada stated that they had invested USD 5 million to support the Canadian Heart Function Alliance to address the burden of heart failure in Canada. These new investments help care for cardiac patients through cath lab services, which likely boost the market growth in the region.
In the United States, Good Samaritan Medical Center in Florida and PeaceHealth Sacred Heart Medical Center in River Bend, Alaska, are some of the players that provide diagnostic services. In addition, introducing new technologies in the cath lab is expected to increase the services, thereby contributing to the region's growth. For instance, in April 2023, advanced technologies like intravascular lithotripsy and digital intravascular ultrasound (IVUS) were introduced in Mary Lanning Healthcare (MLH) Cath Lab, making the lab a state-of-the-art option.
Moreover, the new cath lab service expansion in the clinics helps the market to grow over the study period. For instance, in October 2022, a cardiac catheterization lab will likely be included in the new clinical services building as part of the Cape Breton Regional Municipality Health Care Redevelopment project. Thus, all the above factors will likely positively influence the target market growth in the forecasted period.
