The global deflectable catheters market is anticipated to expand at a 3.9% CAGR between 2022 and 2029. Sales of deflectable catheters are currently valued at US$ 1.8 billion, and by 2029, the market is anticipated to be worth US$ 2.4 billion.
The deflectable catheters market is experiencing significant growth due to their versatile applications in various medical procedures. These catheters are designed with a flexible tip that can be controlled remotely, allowing for precise navigation through intricate anatomical pathways. This technology has revolutionized minimally invasive procedures by enhancing the physician’s ability to reach challenging locations within the body.
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Several factors are driving the growth of the deflectable catheters market. One of the primary drivers is the increasing adoption of minimally invasive procedures. As patients and healthcare providers seek less invasive alternatives to traditional surgeries, deflectable catheters offer a solution by enabling procedures that require smaller incisions, reduced pain, and faster recovery times.
The usage of reposable deflectable catheters is significantly higher in developing economies with inadequate resources, where the cost of treatment can be significantly high, which is unfavourable for patients from poor backgrounds. The present cost structure with the use of reposable deflectable catheters makes it feasible for a sizeable population to opt for low-cost treatment options, which help boost the adoption rate, and thereby expand the consumer pool.
At present, there are only a few companies offering reposable deflectable catheters, and none of the major players are into developing reposable devices. As per the report, a comparatively smaller company, CathRx, has a similar reposable product, Khelix, which is considered to be the first ‘reposable’ diagnostic and therapeutic catheter for the treatment of cardiac arrhythmias.
Acquisitions & Collaborations Playing Decisive Role in Shaping Deflectable Catheters Market Structure
The affective adjustments and development observed in the parent market influences the deflectable catheters market. The recent trend of involving digital methods for diagnosing cardiac problems is also changing the treatment pattern. All these trends are more governed by the top market leaders in the cardiology market. With abundant resources and investment plans, they manipulate the industry in a way in which no other smaller or regional manufacturer is capable of keeping pace with them.
The trend of acquisition and forming a strategic partnership is positive delivering financial results. For example, Abbott’s acquisition of St. Jude Medical resulted in the consolidation of the 2nd and 4th largest cardiology market players. Moreover, the acquisition of specific treatment technologies has also been observed in the deflectable catheter market, and there has been an increase in the number of players expanding their product portfolio for the treatment of atrial fibrillation/atrial flutter.
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Deflectable Catheters Market: Segmental Analysis
On the basis of product type, the deflectable catheters market has been segmented into uni-directional deflectable catheters, bi-directional deflectable catheters, and multi-directional deflectable catheters. Bi-directional deflectable catheters lead the market due to their high adoption rate and availability.
Based on application, the deflectable catheters market has been segmented into coronary interventions, electrophysiology, diagnostics imaging, and peripheral interventions. In terms of revenue, the electrophysiology segment is expected to have a major share in the deflectable catheters market due to an increase in the number of procedures being carried out by deflectable catheters.
On the basis of end user, the deflectable catheters market has been categorised into hospitals, office-based clinics, ambulatory surgical centres, and independent catheterisation labs. Independent catheterisation labs are expected to witness significant growth, which is driven by an increase in the number of the same.
Key Players :
- Medtronic Plc.
- Merit Medical Systems
- Biosense Webster Inc.
- Teleflex Incorporated
- Boston Scientific Corporation
- Biomerics LLC
- OSYPKA AG
- Abbot
- Japan Lifeline Co.
- CathRx Ltd.
- Biotronik SE & Co. KG.
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Key Segments Of Deflectable Catheters Industry Survey Deflectable Catheters Market by Product Type:
- Uni-Directional Deflectable Catheters
- Bi-Directional Deflectable Catheters
- Multi-Directional Deflectable Catheters
Deflectable Catheters Market by Application:
- Deflectable Catheters for Coronary Interventions
- Deflectable Catheters for Electrophysiology
- Deflectable Catheters for Diagnostics Imaging
- Deflectable Catheters for Peripheral Interventions
Deflectable Catheters Market by End User:
- Deflectable Catheters for Hospitals
- Deflectable Catheters for Office-based Clinics
- Deflectable Catheters for Ambulatory Surgical Centres
- Deflectable Catheters for Independent Catheterization Labs
Deflectable Catheters Market by Region:
- North America Deflectable Catheters Market
- Latin America Deflectable Catheters Market
- Europe Deflectable Catheters Market
- East Asia Deflectable Catheters Market
- South Asia & Pacific Deflectable Catheters Market
- Middle East & Africa (MEA) Deflectable Catheters Market
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