Approvals, Acquisitions, Expansions, and Product Launches were the Most Adopted Growth Strategies by Key Players in the Angiographic Catheters Market
The global angiographic catheters market is expected to reach USD 1,402.8 Million by 2022 from USD 980.9 Million in 2017, at a CAGR of 7.4%. Factors driving the growth of this market include the increasing burden of coronary artery diseases, the aging population & age-related diseases such as cardiovascular disease and demand for angiographic catheters for the diagnosis of arterial blockages.
The angiographic catheters market is domimated by players such as Boston Scientific (US), Medtronic (US), Terumo Medical (Japan), Cardinal Health (US), and Merit Medical System (US).
Most companies in the angiographic catheters market adopted agreements, acquisitions, expansions, and product launches as the key business growth strategy. These strategies accounted for the largest share of the overall growth approaches mapped from 2014 to 2017. Some of the leading players who adopted these strategies include Boston Scientific (US), Medtronic (US), Terumo Medical (Japan), and Cardinal Health (US).
Medtronic (US) held the leading position in the angiographic catheters market in 2016. The company adopts organic growth strategies such as product launches in order to strengthen its position in the market. For instance, in 2017, the company launched DxTerity diagnostic angiography catheter product line, which includes DxTerity TRA, InTRAkit access kit, and TRAcelet compression device. These product launches enhance the company’s product portfolio and brand recognition.
Boston Scientific (US) held the second position in the angiographic catheters market in 2016. The company has been focusing on acquisitions to enhance its presence in the market. For instance, in 2017, Boston Scientific acquired Symetis SA, a company engaged in manufacturing and distributing minimally-invasive transcatheter aortic valve implantation (TAVI) devices. In addition, the company’s strong position in the market is attributed to its strong distribution network in both developed as well as developing countries, which enables it to serve customers across the globe.
Terumo Corporation held the third position in the angiographic catheter market in 2016. With the objective to expand its product portfolio and geographical presence, the company is concentrating on mergers and acquisitions. In 2017, Terumo acquired the interventional access business of Abbott and St. Jude Medical to enhance its product mix.
Related Reports:
Angiographic Catheters Market by Application (Coronary, Endovascular, Neurology and Oncology), Geography (North America, Europe, Asia Pacific and Row), End-User Analysis (Reusage Scenario, Purchase Pattern) and Competitive Scenario - Global Forecast to 2022
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