Catheters Market Overview
Catheters are medical devices inserted into the human body during treatment of diseases. It is also used in pre-, post-, and during surgical procedures. Modification of catheters by changing the type of material used in its manufacture can extend its application for ophthalmic, neurological, cardiovascular, gastrointestinal, and urological procedures. The global catheters market report by Market Research Future (MRFR) contains opportunities, trends, drivers, and restraints and an analysis at regional and country levels. Catheters are inserted in the body during surgeries or treatment of diseases like Cardiovascular, Neurovascular, and Urology etc.to drain and administration of fluids. Also, the catheter inserted into the body can be helpful in administering various liquid medication or gas for the treatment of diseases. Owing to the growing prevalence of chronic diseases such as urology cardiovascular, and neurovascular catheters are perceiving augmented demand resulting in fostering its market growth on the global platform.
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The increasing prevalence of chronic diseases will positively impact the growth of the catheters market. Major trends in the Catheters market include technological advancements, consistent investment in research and development activities and the upsurge in acquisitions and mergers.On the other hand, the associated risk of weakened materials that can cause fractures which increases the total cost of surgery can hamper the market growth. Also, pain and swelling during insertion and withdrawal of catheters and the discomfort associated with its use coupled with the hospital acquired infections due to catheter use these factors are expected to hamper the market growth.
Acknowledging the exponential traction, the market perceives currently Market Research Future (MRFR) in its recently published study report asserts that the global Catheters Market is estimated to reach USD 78.5 billion by 2030 at 8.30% CAGR through the forecast period 2022-2030. The global market of catheters is driven by a number of factors including rising incidences of cardiovascular and urological diseases coupled with the sedentary lifestyle that mirrors the augmented prevalence of cardiovascular diseases or other related diseases. Moreover, higher affordability, favorable reimbursement policies and an increase in demand for advanced catheters provide impetus to the market growth.
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Catheters Market Regional Analysis
The Asia Pacific region is also experiencing a rapid growth rateowing to the increasing diabetic & obese population coupled with the accelerating healthcare expenditure. As per to the WHO, around 60% of the world’s total diabetic population dwells in the Asia Pacific region.
Geographically, the catheters market spans across regions namely, Europe, America, Asia Pacific, and the Middle East & Africa.
Among all the regions, America is considered to dominate the global catheters market due to the presence of huge population suffering from obesity, diabetes, and cardiovascular diseases. North America is estimated tooccupy the largest market share in this region. As per the Centers for Disease Control and Prevention, over 9.3% of the total American population suffered from diabetes in the year 2015. Moreover, with the increased healthcare expenditureand well-developed technology, the market in this region is considered to flourish.
Europe is estimated to occupy the second largest market share for catheters owing to thepresence of well-developed healthcare sector, high healthcare expenditure, and strong government support for research & development activities. Countries such as the U.K., Germany, and France are some of the major contributors to the European market. Moreover, well-developed technologies have played a crucial role in the development of the market these countries.
Catheters Market Segmentation
- The global catheters market has been segmented on the basis of type, end-users, and region.
- By mode of type, the global catheters market has been segmented into specialty catheters, cardiovascular catheters, urinary catheters, intravenous catheters, neurological catheters, and others. Among these, the demand for cardiovascular catheters is considered to remain the highest owing to the high prevalence of cardiovascular diseases coupled with the growing number of surgeries.
- By mode of end-users, the global catheters market has been segmented intoambulatory surgical centers, hospitals & clinics, and others. Among these, the hospitals segment is considered to dominate the global market as they the primary users of catheters. Hospitals arelikely to continue to maintain their dominanceowing to the increasing number of government and private-run hospitals. Moreover, the efforts taken by the government in order to reduce the hospital-related expenditure are also considered to influence the market growth.
Catheters Market Players
- Boston Scientific Corporation
- Koninklijke Philips N.V
- Abbott Medtronic Plc
- Braun Melsungen Ag
- Becton Dickinson And Company
- Terumo Corporation
- Lumend Corporation
- Covidien Ag (Ireland)
- Acist Medical Systems
- Cook Medical Inc
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