Market Overview: In 2020, the global Catheter Introducer Sheaths market boasted a significant size and is poised to maintain a steeply rising revenue compound annual growth rate (CAGR) from 2021 to 2028. Key drivers behind this market's revenue growth include the increased processing power of Artificial Intelligence systems and the availability of skilled medical professionals worldwide. Artificial intelligence systems enhance the efficiency of clinical trial management and drug discovery.
Sheath introducers facilitate the implantation of equipment, such as guidewires and catheters, into the body for endoluminal procedures, particularly angioplasty. These introducers have a tube-like structure and simplify the application of patches and closure devices after procedures to ensure hemostasis. Sheath introducers come in various sizes to cater to patient needs. Sales of both standard and guided sheath introducers are expected to propel market growth during the projected period. Additionally, the growth of peripheral interventions will contribute to market expansion. Sheath introducers provide a passage during catheterization, similar to how a trocar or catheter facilitates passage through a cannula. They are primarily used in percutaneous procedures, such as stent placement, angioplasty, and angiography, and are removed once the procedure is complete to manage bleeding at the puncture site.
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Sheath Introducer Market: Drive factors
Factors Driving the Catheter Introducer Sheaths Market:
- Increasing Number of Interventional Procedures: The global sheath introducer market is being driven by a growing number of interventional medical procedures worldwide. These procedures often require the use of catheters and guidewires, which, in turn, increase the demand for sheath introducers.
- Nurse Preference: Nurses often prefer sheath introducers due to their tube-shaped design and ease of insertion. This preference among medical professionals contributes to the adoption of sheath introducers in clinical settings.
- Patient Safety and Comfort: Sheath introducers must be able to withstand pressure and offer a transparent structure for visibility during procedures. These features enhance patient safety and comfort, making them a preferred choice in medical interventions.
- Faster Hemostasis: Sheath introducers that create smaller access sites enable faster hemostasis compared to larger access sites. This not only improves patient satisfaction but also leads to quicker turnover of hospital beds and reduces overall procedure times.
- Versatile Usage: Micro-sheath introducers can be used for both radial and femoral access, increasing their versatility and usability in various medical procedures.
- Rising Use of Novel Medical Equipment: The global healthcare industry is witnessing an increase in the use of novel medical equipment. Sheath introducers play a crucial role in these advancements, creating opportunities for growth in the market.
- Investment During the COVID-19 Pandemic: Companies are investing in medical products, including sheath introducers, amid the COVID-19 pandemic. The pandemic has highlighted the importance of reliable medical equipment and has driven investment in this sector.
These factors collectively contribute to the growth and adoption of sheath introducers in the healthcare industry.
North America's Dominance in Global Catheter Introducer Sheaths Revenue: In 2020, North America held the largest market share in the sheath introducer market, with revenue growth primarily attributed to increased health and fitness awareness due to changing lifestyles. Factors like liberalization of foreign direct investment, dietary diversification, rapid urbanization, and shifting consumer preferences are expected to drive market growth in North America.
Asia Pacific Leading in Terms of Revenue Growth: The Asia Pacific sheath introducer market is forecasted to register the highest CAGR over the forecast period. This growth is driven by increased government investments in the healthcare sector and rising RD activities in countries such as India, China, Malaysia, and Indonesia. Sheath introducers play a significant role in performing critical procedures in the region, contributing to their surging demand.
Major Companies Profiled: Boston Scientific, Abbott Laboratories, Medtronic, Philips, Terumo, Cardinal Health, Merit Medical Systems, Cook Medical, Asahi Intecc, Teleflex, Cardiovascular Systems Inc., Galt Medical, R. Bard, Angiodynamics, and ACIST Medical Systems.
Strategies and Objectives of Major Companies: In August 2021, Cook Medical announced the hiring of over 100 manufacturing employees and five professional positions at its facility in Canton, Illinois. This expansion of manufacturing capabilities aims to meet patient and customer needs for medical devices.
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