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Steerable Catheters Market: Information by Type (Tendon driven, Magnetic Navigation), Application (Interventional Cardiology, Interventional Radiology), and Region — Forecast till 2030

Market Snapshot
Study Period:
2020-2030
Base Year:
2021
Fastest Growing Market:
Europe
Largest Market:
Americas
CAGR:
5.71 %
Key Players
OSCOR Inc

Merit Medical Systems

Integer Holdings Corporation

DEAM

Abbott

The global steerable catheter market was valued at USD 157.54 million in 2021 and is projected to grow at a CAGR of 5.71%, accounting for USD 258.22 million in 2030. Steerable catheters are a result of constant technological advancements in the medical devices field. Nowadays, steerable catheters are increasingly used for diagnostics and therapeutics of cardiac and orthopedic disorders. With the help of steerable catheters, tasks can be effectively, precisely, and easily completed. The rising adoption of steerable catheters across the globe has been increasing its demand, which, in turn, is driving the global steerable catheters market.

The increasing prevalence of cardiac diseases across the globe is further boosting the market growth. Constantly deteriorating health bar and increased consumption of high-fat food products including fast food are responsible for increased risk of cardiac diseases, especially in developing and underdeveloped economies to some extent. According to the World Health Organization (WHO), 17.9 million people die every year due to cardiovascular diseases across the globe, making up to 31% of the total deaths worldwide, out of which more than 75% of deaths due to CVD occurs in underdeveloped and developing countries.

Segmental Insights

Global steerable catheters market is segmented by type, application, and region.

Based on type, the market is segmented into tendon driven catheters, magnetic navigation catheters, and other types. Among types, tendon driven catheters segment is expected to account for highest share of the market owing to rapidly advancing technology in steerable devices. Simplest tendon-driven catheter consists of one backbone and one or two tendons. For instance, Polaris XTM Steerable Diagnostic Catheter and SteeroCath-Dx by Boston Scientific Inc. are single tendons and bidirectional steerable catheter respectively. In the last few years, the market has witnessed significant rise in the number of interventional procedures, which further tighten the demand for steerable catheters. Hansen Medical Inc. offers ‘Sensei X Robotic Catheter System’ for cardiac surgery, which is a sophisticated tendon-driven steerable catheter and allows the physician to navigate the catheter through the teleoperating workstation.

Based on application, the market is segmented into interventional radiology, interventional cardiology, vascular surgery, and other applications. Interventional radiology segment is expected to experience fastest growth during the forecast period.

Regional Insights

Regionally, the global steerable catheter market is segmented into Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

Americas dominates the global steerable catheter market. Healthcare infrastructures and facilities are evolving rapidly in North America to provide advanced services. Moreover, technological advancements in medical devices are proving to be an effective and highly precise way of treatment, which, in turn, is expected to increase demand for steerable catheters in North America. South America is a developing region and is witnessing a steady development in healthcare facilities. However, poor economic conditions and low GDP are affecting the speed of developments in healthcare facilities and services in the region. From the past few years, the ongoing industrial revolution has taken South American economy to storm, and many manufacturers are entering the steerable medical devices market to bring technologically advanced medical devices to the region.

Europe is expected to account for optimum share of the global steerable catheter market. Presence of global major players in the medical devices market is expected to drive the steerable catheter market in Europe.

Asia Pacific is expected to experience highest growth in the global steerable catheter market. Surging rate of incidences and expected treatment costs of CVDs are challenging the sustainability of many healthcare financing models in the region. China has one of the highest CVD death rates in the world. 1 in 5 adults in China suffers from cardiovascular disease. As per our analysis, smoking is the major factor contributing to the increasing prevalence of CVDs. According to the World Heart Federation, over 300 million smokers are present in the country. Increasing prevalence of cardiovascular diseases in Asia Pacific is expected to drive the market. Moreover, Asia Pacific is the hub for medical tourism. The region is known for its innovation in the field of medical devices and technologically advanced healthcare facilities at effectively cheaper prices. Also, it is housing a huge population suffering from cardiovascular diseases, orthopedic disorders, cancers, and neural tumors, which is further escalating the demand for therapeutic surgeries and procedures in the region.

Middle East & Africa is expected to witness stagnant growth in the global steerable catheters market during the forecast period.

Key Players

  • Teleflex Incorporated
  • OSCOR Inc
  • Merit Medical Systems Inc
  • Integer Holdings Corporation
  • BIOTRONIK
  • Biosense Webster Inc
  • Duke Extrusion (Duke Empirical Inc.)
  • Abbott
  • Medtronics Plc
  • Boston Scientific Corporation
ATTRIBUTES DETAILS
ESTIMATED YEAR 2022
BASE YEAR 2021
FORECAST YEAR 2030
HISTORICAL YEAR 2019-2020
UNIT Value (USD Million/Billion)
BY REGION

Americas, Europe, Asia Pacific (APAC), The Middle East & Africa (MEA)

Recent Development by Key Players

  • February 2022 – Teleflex Incorporated announced that the U.S. Food and Drug Administration (FDA) cleared an expanded indication for its specialty catheters and coronary guidewires to cross chronic total occlusion percutaneous coronary interventions.
  • December 2021 – Integer Holdings acquired medical device company Oscar for USD 220 million.
  • November 2021 – India Medtronic Pvt. Ltd. announced the launch of the Arctic Front Cardiac Cryoablation Catheter System, the first and only cryoballoon catheter approved by CDSCO for the treatment of atrial fibrillation (AF) in India.
  • July 2021 – Oscor Inc. expanded its medical device manufacturing facilities at Oscor Caribe in Las Americas Industrial Free Zone Park, Dominican Republic.
  • June 2021 – Abbott obtained CE mark approval for its Amplatzer Steerable Delivery Sheath for left atrial appendage (LAA) occlusion (closure) procedures to treat atrial fibrillation (AF) patients who are at increased risk of ischemic stroke.
  • June 2020 – Boston Scientific announced the U.S. launch of the DIRECTSENSE Technology, a tool for monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures.
  • June 2020 – Abbott received 510(k) approval from the US FDA for its latest product called Agilis HisPro.
  • January 2020 – Merit Medicals launched a new Arcadia Next Generation Balloon Catheter product.
  • September 2018 – in CIRSE 18 Congress, Merit introduced to Europe the Q50 PLUS Stent Graft Balloon Catheter, a versatile balloon catheter that is ideal for abdominal and thoracic EVAR procedures, and the Osseoflex SB Steerable and Straight Balloons, a family of an inflatable bone tamp for vertebral augmentation or kyphoplasty.
  • May 2018 – Biosense Webster launched its first commercially available steerable guiding sheath that can be visualized on the CARTO 3 System during a catheter ablation procedure.

Steerable Catheters Market Segmentation

By Type

  • Tendon Driven Catheters
  • Magnetic Navigation Catheters
  • Other Types

By Application

  • Interventional Radiology
  • Interventional Cardiology
  • Vascular Surgery
  • Other Applications

By Region

  • Americas
  • Europe
  • Asia Pacific (APAC)
  • The Middle East & Africa (MEA)
 

Frequently Asked Questions (FAQs)

The market is anticipated to grow at a CAGR of 5.71% over the forecast period.
The global market is expected to reach USD 258.22 million in 2030
The market will be estimated to grow from the years 2022 to 2030.
Americas is expected to hold the highest market share.
The interventional cardiology segment is expected to be the leading segment in the market during the forecast period.
The market in Americas was valued at USD 102.89 million in 2030
Rising initiatives by key players and the government create a window of key opportunity in the market during the forecast period.
Teleflex Incorporated, OSCOR Inc, Merit Medical Systems Inc, Integer Holdings Corporation, and BIOTRONIK are the top players in the market.
The rise in adoption of minimally invasive surgeries is the key factor expected to drive the market during the forecast period.
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