Market Overview: In 2020, the global sheath introducer 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.
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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.
Major Factors Driving Global Sheath Introducer Market Growth: The growth in revenue of the global sheath introducer market is being driven by the increasing number of interventional procedures worldwide that require catheters and guidewires. Nurses often prefer sheath introducers due to their tube-shaped design, ease of insertion, and the ability to withstand pressure, while also offering a transparent structure for visibility. As device sizes increase through a smaller access site, the entry point expands, and it reverts to its original size after the procedure, facilitating the removal of the inserted device in reverse order.
Factors Restraining Global Sheath Introducer Market Growth: Several unfavorable factors substantially hinder the growth of the global sheath introducer market. The development of advanced sheath introducers, which play a crucial role in the treatment of various diseases, involves extensive initial investments. This factor poses a hindrance to market growth.
Opportunities for Players in the Global Sheath Introducer Market: The rising usage of novel medical equipment globally is expected to create opportunities for companies in the sheath introducer market, particularly in providing essential care to patients in medical institutions of all sizes. Companies are investing in these medical products, especially during the COVID-19 pandemic.
Global Sheath Introducer Market Revenue by Product Type: The straight sheath segment is projected to attain the highest revenue share in the forecast period. The increasing prevalence of chronic illnesses worldwide is expected to drive the demand for straight sheath introducers.
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.
Leading End-use Segment in the Global Sheath Introducer Market: Hospitals are expected to dominate in terms of revenue generation among all end-use segments over the forecast period. The increasing use and presence of catheters in hospitals will boost the growth of this segment in the coming years.
North America’s Dominance in Global Sheath Introducer Market 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 R&D 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.
Detailed Segmentation in Our Report: For this report, the global sheath introducer market is segmented by product type, end-use, and region:
Product Type Categories (Revenue, USD Billion; 2018-2028):
1. Straight Sheaths
2. Curved Sheaths
End-use Categories (Revenue, USD Billion; 2018-2028):
1. Hospitals
2. Clinics
3. Ambulatory Surgical Centers
Regional Categories (Revenue, USD Billion; 2018-2028):
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
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