The overall diagnostic catheters market is projected to reach USD 4,302.3 million by 2021 from USD 3,025.8 million in 2016, at a CAGR of 7.3% from 2016 to 2021. Factors such as the rising geriatric population, increasing prevalence of cardiovascular disorders, growing number of minimally invasive surgeries, growth in the number of diagnostic imaging centers, and technological advancements in imaging catheters are driving the growth of the diagnostic catheters market.

Diagnostic catheters are useful in performing various diagnostic procedures using different imaging techniques. The diagnostic catheters market is expanding with the emergence of new applications and technologies. These catheters are being used for several indications in different application areas such as cardiology, urology, gastroenterology, neurology, and others.  Continuous ongoing improvements in catheter designs to simplify their use and make them safer and more effective are playing a pivotal role in growth of the market.

In addition, increasing investments in the healthcare industry by key market players and increasing government and private sector investments are further encouraging the growth of the diagnostic catheters market.

OCT has revolutionized the medical imaging industry and has extended its applications in disease diagnosis and imaging of various cellular and molecular processes in vivo. The successful application of OCT imaging in various diagnostic areas such as cardiology has resulted in greater adoption of OCT imaging catheters by doctors for various diagnostic indications. The resolution limits of coronary angiography, along with the need for greater precision during percutaneous interventions have resulted in increased demand for high-resolution intracoronary imaging techniques such as OCT. These varied advantages of OCT imaging have drawn a number of market players to launch new OCT imaging systems and catheters for diagnostic applications.

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Major Market Developments:

• In October 2015, Cardinal Health, Inc. acquired Johnson & Johnson’s (U.S.) Cordis business, a global player in the cardiovascular and endovascular devices market. The acquisition enhanced Cardinal Health’s portfolio of diagnostic catheters used in cardiology and endovascular applications, helping Cardinal Health to strengthen its position in the global market, specifically in the cardiovascular area.
• In February 2015, Royal Philips (U.S.), a part of Koninklijke Philips N.V., acquired Volcano Corporation (U.S.), a global leader in intravascular imaging for coronary and peripheral therapeutic devices. This acquisition has helped the company to become a leading systems integrator in the fast-growing image-guided MIS market.
• In October 2013, St. Jude Medical launched OCT-assisted system for coronary imaging in the U.S. This system uses St. Jude’s Dragonfly Duo Imaging catheter to capture near-infrared light. This launch has enhanced the company’s portfolio for advanced diagnostic catheters in the US market.

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