Thermodilution Catheters Market: Introduction

  • A thermodilution catheter is used to monitor right atrial pressure, right ventricular pressure, pulmonary artery pressure, pulmonary capillary wedge pressure, and for continuous infusion of solutions. This is required to estimate the atrial functioning of the heart and supports healthcare professionals in planning a proper treatment regimen for the patient.

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Key Drivers and Restraints of Global Thermodilution Catheters Market

  • Increase in prevalence of cardiovascular diseases and surgery is driving the rapid growth of the market. According to WHO, cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. Four out of five CVD deaths are due to heart attacks and strokes, and one third of these deaths occur prematurely in people under 70 years of age. As per CDC, every year, about 805,000 Americans have a heart attack and about 18.2 million adults age 20 and older have coronary artery disease (CAD). In Europe, as per WHO data, 50% of deaths are caused by cardiovascular disease.
  • Increasing geriatric population is another cause for rise in demand for ultrasound catheters. Majority of cardiovascular disease cases and deaths occur in the elderly, aged 65 years and above. Based on World health Organization data, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%.
  • However, product recalls of catheters may hamper the market growth. In February 2019, Edwards Lifesciences recalled the Swan-Ganz thermodilution catheter due to incorrect assembly, causing reversal of lumens. A total of 1,426 devices were recalled from the U.S. market.

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Polyurethane Estimated to Dominate the Global Thermodilution Catheters Market

  • Based on material, the global thermodilution catheters market can be divided into nylon, polyurethane, PVC, and others.
  • Polyurethane dominated the global thermodilution catheters market in terms of revenue in 2019 and is expected to maintain this position during the forecast period due to a wide range of applications, safety, and reduced risk of patient latex allergy or hypersensitivity over other products

Ambulatory Surgical Centers Segment Witnesses Highest Growth

  • Based on end-user, the global thermodilution catheters market can be divided into hospitals, ambulatory surgical centers, diagnostic laboratories, and cardiac catheterization laboratories.
  • Hospitals dominate the thermodilution catheters market as a large number of procedures are performed due to availability of technologically advanced products and availability of reimbursement policies.  Cardiac surgery represents a significant burden to the United States (US) healthcare system, with over 294,000 coronary artery bypass grafts (CABG) and valve replacement/repair procedures performed annually.
  • Ambulatory surgical centers are expected to gain market share during the forecast period, expanding at the highest CAGR during the period. According to an article published in Industry Dive in 2019, CMS is proposing to add 12 cardiac catheterization procedures to its coverage list for ambulatory surgical centers (ASC). CMS also estimated that nearly 5% of cardiac catheterization procedures shifted from the hospital outpatient setting to ASC because of the proposed policy.

 North America Estimated to Dominate the Global Thermodilution Catheters Market

  • In terms of region, the global thermodilution catheters market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
  • In terms of revenue, North America dominated the thermodilution catheters market, followed by Europe. Rising prevalence of cardiovascular diseases such as CAD, strokes, and atrial fibrillation, along with adoption of technologically advanced products boosts the market growth in North America.  According to CDC data, coronary heart disease is the most common type of heart disease, killing 365,914 people in 2017. About 18.2 million adults of age 20 and older have coronary artery disease (CAD) (about 6.7%). About 2 in 10 deaths from CAD happens in adults less than 65 years old.
  • However, the market in the Asia Pacific region is expected to expand at a rapid CAGR during the forecast period owing to the growth in emerging markets, and continuous developments in healthcare and pharmaceutical industries in the region. Furthermore, increasing cases of targeted diseases leads to more usage of thermodilution catheters for treatment. Cardiovascular disease (CVD), namely stroke and ischemic heart disease (including heart attacks), is China is leading cause of death, accounting for up to two-in-five deaths. According to an article published in Biospectrum in June 2020, in Korea, CVDs pose a burden of more than US$ 7.2 Bn (direct and indirect costs) on individuals, their households, and public finances.

Key Manufacturers Operating in the Market

The global thermodilution catheters market was highly fragmented in 2019. Key manufacturers operating in the global market are:

  • Teleflex Incorporated
  • Nipro
  • ICU Medical
  • Edwards Lifesciences Corporation
  • Merit Medical Systems
  • B. Braun Melsungen AG
  • Intra special catheters GmbH
  • Deroyal

Thermodilution Catheters Market: Research Scope

Thermodilution Catheters Market, by Material

  • Nylon
  • Polyurethane
  • PVC
  • Others

Thermodilution Catheters Market, by End-user

  • Hospitals
  • Ambulatory Surgical Centers
  • Diagnostic Laboratories
  • Cardiac Catheterization Laboratories

Thermodilution Catheters Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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