North American Catheters Market Size, Share and Forecast 2019-2025
Posted by Avinash on March 28th, 2020
North American catheters market is expected to grow at a CAGR of around 8.2% during the forecast period. The major factors encouraging the growth of the market in the region include the emerging demand for minimally invasive surgeries and the increasing prevalence of chronic diseases. There are several key companies operates in North America, particularly in the US, which includes Edwards Lifesciences, Abbott Laboratories, Inc., and among others. The North American market is further sub-segmented as the US and Canada. The significant prevalence of chronic diseases is primarily contributing to the demand for catheters in the region.
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As per the American Heart Association, during the period, 2013 and 2016, 121.5 million American adults had some form of cardiovascular disease. Between 2014 and 2015, direct and indirect costs of total cardiovascular diseases and stroke were 1.2 billion. CVD and stroke accounted for 14% of total health expenditures in 2014-2015. This, in turn, is encouraging the demand for cardiac catheterization procedures for the diagnosis and treatment of certain CVD conditions. During the procedure, a long thin tube is placed in an artery or vein in the groin, arm or neck and threaded through the blood vessels to the heart. Certain heart disease treatments that are performed using cardiac catheterization include coronary stenting and coronary angioplasty.
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The companies operating in the region include Abbott Laboratories, Inc., Boston Scientific Corp., and Johnson & Johnson Services, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in May 2018, Abbott Laboratories, Inc. expands portfolio of cardiac arrhythmias with FDA clearance for the Advisor HD Grid Mapping Catheter, Sensor Enabled. The purpose to develop this product was to offer innovative solutions to the physicians to accurately and quickly map complex cardiac arrhythmias among patients.
North American Catheters Market by Product Type
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About the AuthorAvinash
Joined: January 27th, 2020
Articles Posted: 123
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