Cardiac Guidewire And Catheters Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Coronary Balloons, Diagnostic Catheters, Aspiration Catheters, Guide catheter), By End User (Hospitals, Ambulatory Surgical Centers, Cardiac Centers), and Region Forecast 2019-2030

Cardiac Guidewire and Catheters Market was valued at US$ 13.4 billion in 2023 and is poised to grow at a CAGR of 7.5% from 2024 to 2030. Cardiovascular diseases are one of the leading diseases worldwide. According to the Centers for Disease Control and Prevention, about 610,000 die every year because of heart disease in the United States alone. Cardiac guidewires and catheters are used to diagnose and prevent cardiac diseases and the process is known as cardiac catheterization. Catheters are usually hallowed flexible tubes that can be inserted into a body cavity, duct, or vessel. Catheters allow injecting fluids, and distend a passageway for surgical instruments. Guide wires are stainless steel or metallic alloys that guide the cardiac catheter for placement.

The Cardiac Guidewire and Catheters Market is expected to grow at a significant rate owing to an increase in the prevalence of cardiovascular diseases. According to the CDC, heart disease is the leading cause of death for both men and women. More than half of the deaths caused due to heart disease in 2009 were in men. In addition, factors such as, an increase in awareness about different cardio devices, less traumatic surgical experience, reduced hospital stay, and faster recovery are expected to boost the global cardiac guidewire and catheters market over the forecast period.

However, high cost, lack of experienced healthcare professionals, and recent product recalls are hindering the market. The global market is expected to grow at a notable rate during the forecast period owing to increased tobacco usage and lifestyle changes such as intake of high-fat food. According to the Centers for Disease Control and Prevention, (CDC), secondhand smoke causes nearly 34,000 early deaths from coronary artery disease each year in the United States among non-smokers. The market competition is expected to grow higher with the rise in technological innovation and mergers and acquisition activities. Moreover, many local and regional vendors are offering specific application products for varied end-users.

Key Developments:

• In December 2014, Abbott laboratories acquired, an electrophysiology technology company Topera, Inc., this acquisition enabled Abbott to enter into catheter-based electrophysiology market.
• In March 2017, U.S. Food and Drug Administration (FDA) approved Abbott’s new sensor-enabled FlexAbility ablation catheter, designed to work with EnSite Precision cardiac mapping system and MediGuide Technology to safely treat atrial flutter (condition similar to atrial fibrillation) and heart rhythm disorder.