The global market for deflectable catheters was valued at US$ 1,564.9 million in 2018 and is expected to reach US$ 2,246.6 million by 2027, increasing to CAGR by 4.1 percent from 2019 to 2027.
Deflectable catheters are used by healthcare professionals due to their usefulness as a therapeutic device, delivery system and navigation of blood vessels and heart tissues under extreme stress. Increased demand for minimally invasive cardiovascular surgical procedures and its ability to access different anatomical sites for biopsy studies is driving market growth for deflectable catheters. Strategic acquisitions, mergers and collaborations between key players will have a positive impact on the growth of the market for Deflectable catheters.
Bi-directional catheters are the leading segment of the market for Deflectable catheters. Excellent ergonomic features such as enhanced column strength, flexibility and enhanced outward radial pressure ensure stability and increase tissue contact. Multi-directional catheters are gaining enormous traction due to their ability to map complex arrhythmias, ablation, electrophysiology and vessel access and delivery.
Hospitals are leading the end-user segment of the market for Deflectable catheters. Excellent patient care and the availability of cost-effective healthcare services are the main factors determining its market growth. The catheterization laboratories are set to register excellent growth in the near future due to the availability of skilled personnel and the installation of the latest advanced version of medical devices and diagnostic equipment.
North America has a market share of 35.5 per cent and is the regional market leader for Deflectable catheters. The increasing prevalence of cardiac complications are important parameters that influence its market growth. According to the Center for Disease Control and Prevention (CDC) research, the mortality rate in patients with heart disease is high, equivalent to 1 in 4 deaths per year in the United States. Second, Europe has a market share of 30.4% due to the effective implementation of treatment guidelines that promise effective outcomes for heart complications. Strategic collaboration between medical device companies and the research institute to launch advanced versions of Deflectable catheters for use in diagnostic imaging. Asia Pacific is keen to highlight the magnificent growth during the forecast period due to the supportive regulatory environment provided by local health agencies and the significant increase in medical tourism.