1.JPG)
The Sensor-based Smart Catheters Market Size is valued at USD 3.57 Billion in 2023 and is predicted to reach USD 6.74 Billion by the year 2031 at a 8.5% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- Sensor-based smart catheters enable physicians to perform intricate procedures with greater precision and control, driving demand in the healthcare sector.
- Governments and private healthcare organizations are investing significantly in healthcare infrastructure and medical technologies to improve patient outcomes & reduce healthcare costs in the long term.
- North America dominated the market and accounted for a global revenue share in 2023.
- Healthcare providers and patients might hesitate to adopt these devices without robust data protection measures in place, leading to slower market penetration.
A sensor-based smart catheter detects chemical changes in the pH or acid-base environment around the catheter. A catheter is a piece of medical equipment inserted into the body to allow the outflow of physiological fluids for therapeutic or disease management purposes or for the administration of drugs during a surgical procedure. Catheter manufacturers have begun to integrate electronic sensing functionality into their instruments, resulting in 'sensing' catheters.
The growing incidence of illnesses such as urinary bladder disorders, renal failure, and coronary heart disease is expected to increase the demand for catheterization procedures, including the use of sensor-based smart catheters. Governments in developed nations have developed guidelines for nurses and other healthcare professionals to use catheterization effectively and safely as a result of an increase in the prevalence of catheter-associated urological and vascular infections, which will positively affect the sensor-based smart catheters market. In Aug 2021, Freudenberg Medical Expanded Sensor Integration Capabilities such as temperature and pressure sensors, entire sensor arrays, and fiber optic sensors for Catheter Manufacturing.
The high price of sophisticated catheters, however, might impede industry development. A growing number of patients undergoing catheterization procedures need novel catheters because they have chronic and cardiovascular diseases like urinary bladder, renal failure, and coronary heart disease. However, the adoption rate of catheters may decline across low-income countries as a result of the expensive catheterization procedures for these diseases.
Competitive Landscape
Some Major Key Players In The Sensor-based Smart Catheters Market:
- Abbott Laboratories
- Johnson & Johnson Services, Inc.
- ICU Medical, Inc.
- Becton, Dickinson and Company
- Biometrix
- Braun Melsungen AG
- AD Instruments.
- Medtronic plc
- Teleflex Incorporated
- UroDev Medical
- Asid Bonz GmbH
- Bactiguard AB
- COOK Medical
- Laborie
- Medline Industries
- ZOLL Medical Corporation
- TE Connectivity
- Other prominent players
Market Segmentation
Global Sensor-based Smart Catheter Market is divided into four segments product type, catheter type, material and application. The product type segment is again categorized into temperature sensing Foley catheters, pressure catheters, mapping catheters and other catheters. The catheter type segment is subdivided into the single lumen and multi lumen, whereas in the case of material, it is divided into silicon, pltetrafluoroethylene, polyetheretherkeone, and other materials. At last, by means of application, the segment includes cardiovascular, urology, gynaecology, neurovascular and other applications in which urology will anticipate the market in the coming years.
The North America market is expected to develop at a high CAGR during the projected period, owing to the region's rising incidence of urinary illnesses such as nephrosis and developed healthcare infrastructure.The region's market is being boosted by the presence of a sizable patient base with kidney and cardiovascular diseases and better medical facilities.
Recent Developments:
- In April 8, 2024, Medtronic plc, Sphere-360TM, an innovative single-shot mapping and ablation catheter using pulsed-field (PF) energy, has shown positive clinical trial safety and efficacy findings. The device is intended to treat individuals with paroxysmal atrial fibrillation (AFib). The company is a global pioneer in healthcare technology. The European Heart Rhythm Association (EHRA) 2024 Annual Meeting featured a late-breaking clinical trial showcasing interim findings from the first-in-human Sphere-360 investigation.
Sensor-based Smart Catheters Market Report Scope
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 3.57 Billion |
|
Revenue forecast in 2031 |
USD 6.74 Billion |
|
Growth rate CAGR |
CAGR of 8.5 % from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
By Products Type, Catheter Type, Material, Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Abbott Laboratories, ICU Medical, Inc., B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Teleflex Incorporated, Becton, Dickinson and Company, Biometrix, Medtronic plc,AD Instruments, UroDev Medical, Asid Bonz GmbH, Bactiguard AB, COOK Medical, Laborie, Medline Industries, ZOLL Medical Corporation, TE ConnectivityOther prominent players. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
