Angiographic Catheters Market: Most Adopted Growth Strategies by Key Players Like Boston Scientific (US), Medtronic (US), Terumo Medical (Japan)

Illinois, United States, 2021-Jan-14 — /EPR Network/ — The angiographic catheters market is domimated by players such as Boston Scientific (US), Medtronic (US), Terumo Medical (Japan), Cardinal Health (US), and Merit Medical System (US).

Most companies in the angiographic catheters market adopted agreements, acquisitions, expansions, and product launches as the key business growth strategy. These strategies accounted for the largest share of the overall growth approaches mapped from 2014 to 2017. Some of the leading players who adopted these strategies include Boston Scientific (US), Medtronic (US), Terumo Medical (Japan), and Cardinal Health (US).

Medtronic (US) held the leading position in the angiographic catheters market in 2016. The company adopts organic growth strategies such as product launches in order to strengthen its position in the market. For instance, in 2017, the company launched DxTerity diagnostic angiography catheter product line, which includes DxTerity TRA, InTRAkit access kit, and TRAcelet compression device. These product launches enhance the company’s product portfolio and brand recognition.

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Boston Scientific (US) held the second position in the angiographic catheters market in 2016. The company has been focusing on acquisitions to enhance its presence in the market. For instance, in 2017, Boston Scientific acquired Symetis SA, a company engaged in manufacturing and distributing minimally-invasive transcatheter aortic valve implantation (TAVI) devices. In addition, the company’s strong position in the market is attributed to its strong distribution network in both developed as well as developing countries, which enables it to serve customers across the globe.

Terumo Corporation held the third position in the angiographic catheter market in 2016. With the objective to expand its product portfolio and geographical presence, the company is concentrating on mergers and acquisitions. In 2017, Terumo acquired the interventional access business of Abbott and St. Jude Medical to enhance its product mix.

Expected Revenue Growth:

According to new market research report, angiographic catheters market is expected to reach USD 1,402.8 million by 2022 from USD 922.1 million in 2016 and, at a CAGR of 7.4%. 

Major Growth Booster:

Market growth is primarily driven by the aging population and increasing incidence of diseases such as CVDs; and demand for angiographic catheter for the diagnosis of arterial blockages. Technological advancements in catheter-based angiography techniques is driving growth of this market.

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Regional Growth Analysis:

The global market is dominated by Europe, followed by Asia Pacific. Europe will continue to dominate the market during the forecast period mainly due to the presence of large patient population. However, Asia Pacific is expected to witness the highest CAGR. Factors such as the increasing burden of coronary arterial disease and focus of major players in emerging Asia Pacific countries are driving the growth of the market in this region. However, increasing preference for non-invasive angiography is expected to hinder the growth of market. Additionally, increasing number of Cath labs in the region is witnessing a substantial growth in region that have accentuated the growth of angiographic catheters market.

In Asian countries like India and China, catheter reusage is extensive in Tier 2 and Tier 3 hospitals which helps in reducing the procedural cost and provide affordable treatment to patients. However, due to the reduction in prices of catheters and growing awareness involved with the risk associated with re-used catheters, the preference for re-used catheters is anticipated to decrease in emerging nations.