The ‘Global Pulmonary Artery Catheter Market Size, Share, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global pulmonary artery catheter market, assessing the market on the basis of its segments like types, applications, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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Pulmonary Artery Catheter Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size (2022): USD 1219.1 million
- Forecast CAGR (2023-2031): 4.4%
The increasing prevalence of cardiovascular diseases is leading to a greater number of pulmonary artery catheterisations being performed across healthcare units, which is propelling the demand for pulmonary artery catheters. According to the World Health Organisation (WHO), around 17.9 million people die every year as a result of cardiovascular disorders.
Meanwhile, the increasing geriatric population, along with rising cases of high blood pressure, kidney disorders, and heart failure, among others, are fuelling the pulmonary artery catheter market.
A pulmonary artery catheter is also utilised during drug therapy, ventilator management, and in cases of instability pre or post-surgery. Over the forecast period, the rising health related issues among the working-class population and increasing health awareness are bolstering the incorporation of pulmonary artery catheter in healthcare units.
Moreover, the rising standards of diagnostic facilities owing to the rising healthcare expenditure and favourable policies of the government are likely to aid the market in the forecast period.
Regionally, North America holds a significant segment in the pulmonary artery catheter market. The advanced healthcare infrastructure in the United States and Canada is driving the market growth in the region. Besides, the sedentary lifestyles led by the adult populations are leading to heightened cases of obesity and heart-related diseases.
Pulmonary Artery Catheter Industry Definition and Major Segments
A pulmonary artery catheter is defined as a medical equipment which is used to carry out the pulmonary artery catheterisation process. In this process, a pulmonary artery catheter is inserted in the pulmonary artery to diagnose diseases or health issues. At the top of a pulmonary artery catheter, an inflated balloon is attached which allows it to make its way through the body.
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Based on type, the market can be segmented into:
• Four-Lumen Catheter
• Five-Lumen Catheter
• Six-Lumen Catheter
The pulmonary artery catheter market can be broadly categorised based on application into:
The significant end uses of the product include:
• Cardiac Clinics
• Ambulatory Surgical Centres
On the basis of region, the market can be categorised into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Pulmonary Artery Catheter Market Trends
The key trends in the pulmonary artery catheter market include the technological advancements in the healthcare industry across the developing countries. These advancements are likely to generate a greater demand for pulmonary artery catheters in hospitals and ambulatory surgical centres for faster and more efficient diagnostics.
The hectic and busy lifestyles led by adults and working geriatrics are leading to heightened cases of strokes and blood-pressure problems. Increasing number of smokers, improper intake of green vegetables, and demanding physical activities in field jobs are further bolstering the cases of chronic disorders which are anticipated to boost the demand for pulmonary artery catheters across the healthcare units.
Meanwhile, rising disposable incomes, coupled with favourable reimbursement policies of governments are further propelling footfalls in hospitals for routine check-ups. In addition, the increasing deployment of pulmonary artery catheters for complex surgeries and invasive hemodynamic monitoring is another crucial pulmonary artery catheter market bolstering trend.
The growing research and development activities by researchers and medical equipment manufacturers aimed towards enabling a proper understanding of cardiopulmonary physiology and human anatomy, among others, are anticipated to be the major trends in the market. Furthermore, market dynamics are likely to be shaped by rapid urbanisation, robust development of healthcare infrastructure, advancements in clinics, and increasing number of hospitals.
Key Market Players
The major players in the pulmonary artery catheter market report are:
- Edward Lifesciences Corporation
- Argon Medical Devices Inc.
- ICU Medical Inc.
- Biosensors International Group
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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