Market players are focusing on capacity expansion to attain a competitive edge.
DUBAI, UAE / ACCESSWIRE / February 10, 2021 / Future Market Insights: FMI states in its recent study on the deflectable catheters market that the market will record a CAGR of 4% through 2029. Demand for reposable deflectable catheters is anticipated to continue surging due to the recent trend of involving digital methods for diagnosing cardiac problems.
"Frontrunners in the reposable deflectable catheters landscape have directed their focus toward advances in product design & mechanism, to make enhancements in performance and navigation capability." says the FMI analyst.
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Reposable deflectable catheters Market - Important Highlights
- Due to their high acceptance rate and affordability, bi-directional deflectable catheters are anticipated to be leading the industry.
- Owing to an increase in the number of processes conducted by deflectable catheters, the electrophysiology segment is projected to have a large share in the demand for deflectable catheters during the forecast period.
- North America is expected to remain a prominent regional market for reposable deflectable catheters
Reposable deflectable catheters Market - Drivers
- The rising trend of involving digital methods for diagnosing cardiac problems is anticipated to drive the market growth.
- Favorable government policies and increasing investments in the healthcare sector is boosting market growth.
- Increase in Cases of Atrial Fibrillation Globally is one of the major reasons for market growth
- The growth of the reposable deflectable catheter market over the projected period is expected to be substantially enhanced by a growing number of independent catheterization laboratories around the globe.
Reposable deflectable catheters Market - Restraints
- Certain Side effects have been seen in patients which are anticipated to be key market restraint in the upcoming years.
- The absence of key companies offering reposable deflectable catheters is creating deterrents.
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COVID-19 Impact on Reposable deflectable catheters Market
During this time there has been a disruption in the supply and demand chain which has caused an impact on the revenue of the Reposable deflectable catheters in a negative way. However, this is estimated to be a temporary effect and the market is expected to have a turnaround. The pandemic has led to a decrease in the patient's flow in the hospitals, and doctor chambers. This has caused a reduction in the number of cardio surgeries and that in turn has affected the Reposable deflectable catheters market.
The reposable deflectable catheters market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge.
A few of the key companies functioning in the global market include Medtronic Plc, Merit Medical Systems, JOHNSON & JOHNSON, Teleflex Incorporated, Boston Scientific Corporation, Biomerics LLC, OSYPKA AG, Abbott, Japan Lifeline Co., CathRx Ltd., and Biotronik SE & Co. KG.
For additional insights on the deflectable catheters market landscape, write into the analyst at [email protected]
About the Study
The study offers readers a comprehensive assessment of the reposable deflectable catheters market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (uni-directional deflectable catheters, bi-directional deflectable catheters, and multi-directional deflectable catheters), application(coronary interventions, electrophysiology, diagnostics imaging, and peripheral interventions and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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SOURCE: Future Market Insights