Steerable Catheters Market Size, Share & Trends Analysis Report By Product Type (Unipolar Steerable, Bipolar Steerable, Multi-Polar Steerable, Deflectable Tip), By Application (Cardiovascular Procedures, Urological Procedures, Neurovascular Procedures, Gastrointestinal Procedures, Others), By End-Users (Hospitals, Specialty Clinics, Ambulatory Surgical Centers (ASCs), Diagnostic Laboratories) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global steerable catheter market size was valued at USD 175.82 million in 2023 and is projected to reach USD 260.22 million in 2032, growing at a CAGR of 5.8% during the forecast period.

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.

Market Dynamics

Regional Analysis

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.

Segmental Analysis

The global steerable catheters market is segmented by type, application, and end-user.

By Product Type:

Deflectable tip steerable catheters hold the largest market share in this category. Their versatility and precision make them essential in various complex procedures. These catheters provide enhanced navigation and control within intricate anatomical pathways, making them indispensable in interventional cardiology, neurovascular interventions, and other minimally invasive surgeries. The growing demand for precision and the ability to adapt the catheter’s direction to reach specific targets in the body contribute to their dominance. Additionally, advancements in deflectable tip technology, such as improved steering mechanisms and material flexibility, have further cemented their position in the market.

By Application:

Cardiovascular procedures are the leading application segment for steerable catheters. The prevalence of cardiovascular diseases, including arrhythmias, coronary artery disease, and structural heart issues, drives significant demand for these catheters. They are crucial in electrophysiology for mapping and ablation, in angioplasty for precise balloon placement, and in structural heart interventions for valve repairs. The rise in the global aging population, coupled with lifestyle-related cardiovascular risks, underscores the growing need for advanced catheter solutions in this domain. Furthermore, the shift towards minimally invasive cardiac procedures fuels the adoption of steerable catheters, offering reduced recovery times and enhanced patient outcomes.

By End-User:

Hospitals represent the largest end-user segment for steerable catheters. They are the primary hubs for complex and diverse medical procedures, including those involving cardiovascular, neurological, and gastrointestinal systems. Hospitals' comprehensive infrastructure and availability of specialized departments make them the primary users of advanced steerable catheter technology. The increasing number of hospital admissions due to chronic diseases and the expanding adoption of minimally invasive surgical techniques further drive the demand in this segment. Moreover, hospitals' investment in cutting-edge medical technologies and their capacity to handle high patient volumes solidify their dominant position in the steerable catheters market.

Impact of covid-19

The Covid-19 pandemic has significantly affected the total tile market, with demand remaining subdued for 6 months in 2020. End-use industries such as construction, manufacturing, and chemical, among others, have seen substantial expansion in the market. For example, the United States has a well-established building industry. Until 2019, the construction industry contributed over USD 2 trillion to the American economy. Due to the pandemic, the figure fell to USD 1.3 trillion in 2020. As a result, the expansion of all related industries has been impeded. Several ongoing projects have been canceled or postponed.

The usage of fluorosilicic acid for aluminum production in the automotive sector had dropped by more than 20%. The demand for aluminum in this industry is directly related to the entire vehicle output. As a result, the acid market experienced the same influence on demand. This was caused by, among other things, the entire and partial suspension of manufacturing facilities, limited transportation of commodities, a prohibition on import and export activities, and the closure of showrooms.

Key Impacts of COVID-19

• Large oil, gas, and chemical firms are reducing capital and operational expenditures.
• Companies with high debt and insufficient cash flow are more prone to encounter liquidity difficulties, and some may be forced to close their doors permanently.

Market Recovery Timeline and Challenges

The global fluorosilicic acid market research study emphasizes possible recovery scenarios during the forecast period. Fluorosilicic acid is created as a byproduct of the production of phosphate fertilizers and from phosphate rock that includes fluoride and silica and is processed with sulfuric acid. It is a dry salt additive that must be dissolved in a solution before it can be added to water. Rising ground and surface water contamination raise the need for water treatment, which raises the demand for fluorosilicic acid.

Recent Developments

• 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.