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The global cath labs market size was USD 36.9 billion in 2022 and is expected to reach USD 37.7 billion in 2032, and register a revenue CAGR of 7.2%

NEW YORK CITY, NY, UNITED STATES, May 8, 2023 /EINPresswire.com/ -- The Cath Labs Market size globally was USD 36.9 billion in 2022 and is projected to reach USD 37.7 billion in 2032, with a revenue CAGR of 7.2% during the forecast period. The main factors driving market growth are the increasing prevalence of Cardiovascular Diseases (CVDs) and the demand for accurate diagnosis and treatment. Cath labs are commonly used to diagnose and treat various heart conditions like heart attack, heart failure, and coronary artery disease. The growth of the market is attributed to the rising popularity of minimally invasive treatments and increasing demand for cath lab equipment in developing nations.

The demand for cath labs globally is increasing due to the rising prevalence of CVDs like hypertension, heart failure, and coronary artery disease. CVDs are the leading cause of death worldwide, accounting for over 17.9 million deaths annually. The desire for minimally invasive procedures is driving revenue growth of the cath lab market. Minimally invasive treatments offer several benefits like shorter hospital stays, faster healing times, and lower healthcare costs.

Market growth is also driven by the rising demand for cath lab systems in developing nations like India, Brazil, and China. The rapid expansion of healthcare infrastructure in these countries and the increasing demand for innovative medical technologies are driving market growth. In China, for instance, Siemens Healthineers' Artis icono biplane cath lab system was approved by the China National Medical Products Administration (NMPA) in February 2021. This system provides advanced imaging capabilities for diagnosing and treating cardiovascular disorders.

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The market for cath labs is also growing due to the use of technologically advanced systems like robotic-assisted and hybrid cath labs. Robotic-assisted cath labs offer benefits like increased accuracy, less radiation exposure, and less physical stress on medical staff. Hybrid cath labs, which combine the features of both cath labs and operating rooms, enable simultaneous diagnosis and treatment of complex cardiovascular conditions.

Government programs and healthcare industry expenditures are additional drivers of market growth. The Indian government, for example, plans to invest INR 64,180 crore (about USD 8.7 billion) in the healthcare industry over the next six years, which is expected to boost the demand for modern medical technologies like cath lab systems.

However, the high cost of cath lab systems and the shortage of qualified personnel to operate them are major factors that could impede market growth. Additionally, other treatment alternatives like medication therapy and surgery may affect the accessibility of cath labs and hinder market growth.

Segments Covered in the Report –

The global market for cath labs can be segmented based on the type of catheterization procedure, including cardiac catheterization, coronary angiography, electrophysiology, and others. The revenue generated by each segment from 2019 to 2032 is measured in USD billions.

Furthermore, the end-use of cath labs can be segmented into hospitals, cardiology centers, and others. The revenue generated by each end-use segment from 2019 to 2032 is measured in USD billions.

The cardiac catheterization segment includes procedures such as coronary angioplasty, stenting, and atherectomy, among others. The segment generated a revenue of USD billion in 2019 and is expected to grow during the forecast period, reaching USD billion by 2032. The rising prevalence of cardiovascular diseases and the increasing demand for minimally invasive procedures are the major factors driving the growth of this segment.

The coronary angiography segment includes procedures that use X-ray imaging to visualize the blood vessels in the heart. The segment generated a revenue of USD billion in 2019 and is expected to grow during the forecast period, reaching USD billion by 2032. The increasing prevalence of coronary artery diseases and the demand for accurate diagnosis are the major factors driving the growth of this segment.

The electrophysiology segment includes procedures that diagnose and treat arrhythmias, heart rhythm disorders, and other cardiac conditions. The segment generated a revenue of USD billion in 2019 and is expected to grow during the forecast period, reaching USD billion by 2032. The increasing prevalence of arrhythmias and the rising demand for advanced diagnostic and treatment procedures are the major factors driving the growth of this segment.

The hospitals segment is the largest end-user of cath labs and generated a revenue of USD billion in 2019. The segment is expected to grow during the forecast period, reaching USD billion by 2032. The increasing number of hospital admissions for cardiovascular diseases and the rising demand for minimally invasive procedures are the major factors driving the growth of this segment.

The cardiology centers segment includes specialized facilities that focus on the diagnosis and treatment of cardiovascular diseases. The segment generated a revenue of USD billion in 2019 and is expected to grow during the forecast period, reaching USD billion by 2032. The increasing number of cardiology centers and the rising demand for advanced diagnostic and treatment procedures are the major factors driving the growth of this segment.

Finally, the others segment includes clinics, ambulatory surgical centers, and other healthcare facilities that use cath lab equipment. The segment generated a revenue of USD billion in 2019 and is expected to grow during the forecast period, reaching USD billion by 2032. The increasing demand for minimally invasive procedures and the rising adoption of cath lab equipment in healthcare facilities are the major factors driving the growth of this segment.

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Strategic development:

Siemens Healthineers AG completed the acquisition of Varian Medical Systems on 15 April 2021. The US-based manufacturer of cancer treatment equipment was purchased for USD 16.4 billion in order to expand Siemens' oncology business and strengthen its position in the medical technology market.

Philips Healthcare announced a strategic partnership with BioIntelliSense on 9 July 2020. The partnership aimed to develop and commercialize wearable devices for remote patient monitoring. BioIntelliSense, a US-based health monitoring technology company, provided its expertise in developing medical-grade wearable sensors while Philips contributed its expertise in connected health informatics. The objective of the partnership was to develop innovative products that improve patient outcomes and enhance patient experiences.

Competitive Landscape:

The global Cath Labs market is a competitive industry, with a number of large and medium-sized players competing for market share. These companies are continuously researching, developing, testing, and introducing new and more effective products to stay ahead of the competition. The global Cath Labs market report includes several major companies that are dominating the industry, including Siemens Healthineers AG, Philips Healthcare, General Electric Company, Abbott Laboratories, Shimadzu Corporation, Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Boston Scientific Corporation, Medtronic, and Johnson & Johnson.

Siemens Healthineers AG, a leading company in medical technology, offers a comprehensive portfolio of imaging and laboratory diagnostics, as well as advanced therapies and services. Philips Healthcare is a leading global brand in health technology, offering a wide range of innovative solutions to improve patient outcomes and enhance patient experiences. General Electric Company is a multinational conglomerate that provides a wide range of products and services across numerous industries, including healthcare. Abbott Laboratories is a US-based medical device and healthcare company that manufactures and sells a wide range of medical products and services.

Shimadzu Corporation is a Japan-based multinational corporation that specializes in the development, manufacturing, and sale of medical and analytical instruments. Koninklijke Philips N.V., a Dutch multinational conglomerate, offers a range of medical technology solutions, including imaging systems, patient monitoring, and informatics solutions. Toshiba Medical Systems Corporation, a subsidiary of Toshiba Corporation, specializes in the development, manufacture, and sale of medical equipment and systems. Boston Scientific Corporation is a US-based medical device company that develops and manufactures a wide range of medical devices for various medical specialties. Medtronic, a US-based medical device company, provides a range of medical technologies to treat chronic diseases, including heart disease and diabetes. Johnson & Johnson, a multinational corporation, operates in the healthcare, consumer, and pharmaceutical industries and offers a range of medical devices and pharmaceutical products.

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In conclusion, the global Cath Labs market is expected to continue growing during the forecast period due to factors such as the increasing prevalence of cardiovascular diseases and the rising demand for minimally invasive procedures.

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