Cath Lab Services Market to Reach $78.2 billion, Globally, by 2032 at 5.4% CAGR: Allied Market Research

PORTLAND, OREGON, UNITED STATES, August 27, 2024 /EINPresswire.com/ -- Alarming rise in number of cath lab procedure, increase in prevalence of cardiovascular disease and high presence cath labs leads to the growth of cath lab services market. According to the report, the global cath lab services market was valued at $46.0 billion in 2022, and is projected to reach $78.2 billion by 2032, registering a CAGR of 5.4% from 2022 to 2032.

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Rapidly rising prevalence of cardiac diseases such as coronary artery disease, angina, valvular disease, cardiomyopathy, endocarditis, congenital heart defects, and occlusive vascular disease and increasing demand for cath lab procedures such as angioplasty, angiography, stent placement and others are anticipated to boost the growth of market. However, high cost associated to cath lab services is anticipated to boost the growth of market. On the contrary, high presence of cath lab service providers and rise in initiative taken by government to develop healthcare infrastructure is expected to witness growth during the forecast period.

A cath lab is a room in a hospital or clinic where catheter-based diagnostic and therapeutic procedures such as angiography, angioplasty, stenting, cardiac ablation, and pacemaker implantation are performed for the treatment of cardiac diseases and brain & spine diseases. Moreover, brain and spine diseases treated or diagnosed in cath lab are cerebrovascular disease, aneurysms, arteriovenous malformations, carotid artery disease, spinal cord compression, spinal vascular malformations, intracranial hemorrhage, spinal cord ischemia, brain & spinal tumors, and spinal stenosis.

Key Takeaways:

The diagnostic segment is projected to manifest significant growth with a CAGR of 5.9% from 2023 to 2032.
The brain & spine segment is projected to manifest a significant CAGR of 5.7% from 2023 to 2032.
The hospital segment would portray the fastest CAGR of 5.6% from 2023 to 2032.
Asia-Pacific region is expected to witness the fastest CAGR of 6.2% from 2023 to 2032

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A cath lab is a room in a hospital or clinic where catheter-based diagnostic and therapeutic procedures such as angiography, angioplasty, stenting, cardiac ablation, and pacemaker implantation are performed for the treatment of cardiac diseases and brain & spine diseases. Moreover, brain and spine diseases treated or diagnosed in cath lab are cerebrovascular disease, aneurysms, arteriovenous malformations, carotid artery disease, spinal cord compression, spinal vascular malformations, intracranial hemorrhage, spinal cord ischemia, brain & spinal tumors, and spinal stenosis.

The key factors that drive the growth of the global cath lab services market include alarming increase in the prevalence of chronic diseases such as cardiac disease and brain and spine diseases. For instance, according to the American Cancer Society, it is estimated that, about 24,810 malignant tumors of the brain or spinal cord (14,280 in males and 10,530 in females) will be diagnosed in 2023. These numbers would be much higher if benign (non-cancer) tumors were also included.

Historical overview:

The cath lab services market size was analyzed qualitatively and quantitatively from 2022 to 2032. The cath lab services market experienced growth at a CAGR of around 5.4% from 2022 to 2032. Most of the growth of cath lab services market size during this period was derived from North America owing to rise in the number of service providers for cath lab procedures and increase in f population suffering from chronic diseases such as cardiovascular diseases and brain and spine disorders.

Covid-19 Scenario:

The global cath lab services market was negatively impacted during the pandemic. The pandemic has led to a decreased in number of cath lab services as there is cancelation of surgeries and increased risk for COVID-19 infection.

The post-pandemic COVID-19 had a positive impact on the cath lab services market owing to rise in the number of cardiovascular surgeries and increase in the number of procedures which were cancelled during the pandemic.

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Based on service type, the therapeutic segment held the highest market share in 2022, accounting for around three-fourths of the global cath lab services market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the increase in incidence of cardiac disease and rise in prevalence of brain & spine diseases. However, the diagnostic segment is projected to manifest significant growth with a CAGR of 5.9% from 2023 to 2032, owing to the surge in the number of diagnostic procedures such as angiography and rise in awareness among population regarding cath lab services.  
Regional Analysis:

North America held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global cath lab services market revenue. This is attributed to high presence of cath lab service providers in North America and rising prevalence of cardiovascular disease. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.2% from 2023 to 2032, owing to rising number of geriatric populations, as geriatric population is more susceptible to cardiovascular diseases and increase in awareness among the people regarding cath lab services. These factors are expected to boost the growth of the market.

Market Segmentation:

By Service Type:

Diagnostic
Therapeutic

By Application:

Cardiac
Brain and Spine

By Service provider:

Hospitals
Individual Cath Lab

By Region:

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, South Africa,, Saudi Arabia, Rest of LAMEA)

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Leading Market Players:

Ochsner Rush Health
Alberta Health Services
Adventist Health Bakersfield
Alliance Medical Associates
Campbell Country Health
Inhealthgroup
Netcare Hospitals
Ramsayhealth
Canyon Vista Medical Center
Henryford Health

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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David Correa
Allied Market Research
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