(EMAILWIRE.COM, December 07, 2018 ) Advancements in medical imaging technologies, increasing number of minimally invasive procedures, launch of new technologies in terms of catheter design, and rising geriatric population (resulting in a subsequent growth in the prevalence of chronic disorders) are primarily expected to drive growth in the global Diagnostic Catheter Market.

The global market is a highly competitive market. Competitiveness is mostly based on technological differentiation of various products offered by market players. The technological aspects of products and brand loyalty are the key criteria of consideration for buyers. These factors have boosted innovation in the industry and intensified rivalry among players. Amid intense competition in the market, major market players are increasingly focusing on expanding their geographic presence into the high-growth emerging markets and strengthening their technological competitiveness in the market by acquiring smaller players that have the desired technological capabilities or geographic presence.

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Based on the type of catheter used in diagnostics, the diagnostic catheters market is segmented into imaging catheters and non-imaging catheters. Imaging catheters are further segmented into angiography catheters, ultrasound catheters, and OCT catheters. Non-imaging catheters are categorized into pressure & hemodynamic monitoring catheters, and temperature monitoring catheters. The diagnostic imaging catheters segment accounted for the largest share of the global market in 2015. This segment is projected grow at a higher CAGR during the forecast period.

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The diagnostic catheter market in APAC is expected to grow at the highest CAGR during the forecast period. The growing patient population, increasing awareness about healthcare, growing per capita healthcare expenditure, government initiatives, and growing investments to modernize the healthcare infrastructure in these regions is expected to drive market growth in developing economies.