Catheters Market Growth, Size, Analysis, Outlook by 2017 - Trends, Opportunities and Forecast 2025
Posted: Oct 30, 2018
According to the new market research "Global Catheters Market [By Product type (Cardiovascular Catheters (PTCA Balloon Catheters, IVUS Catheters, PTA Balloon Catheters, Electrophysiology catheters, Others), Urology Catheter (Foley Catheters, Hemodialysis Catheters, Peritoneal Catheters, Intermittent Catheters, External Catheters), Neurovascular Catheter, Specialty Centers(Wound/Surgical Catheters, Oximetry Catheters, Thermodilution Catheters, IUI Catheters), Others); By Region]: Market Size & Forecast, 2017 – 2025", The Catheters market is expected to reach USD 56.5 billion by 2025 from USD 32.01 billion in 2017, at a CAGR of 7.37%.
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Major key Player:-
Johnson & Johnson Inc.
Dickson and Company
B. Braun Melsungen AG.
Boston Scientific Corporation
Cook Group Incorporated
Cardinal Health Inc.
Arrow International Inc.
Edward Life Science Corporation
Catheters are thin tubes made up of plastic, nylon, polyvinyl chloride (PVC), and silicon rubber. Catheters are majorly used in catheterization while surgical procedures like angioplasty, and neurosurgery. The catheters market is primarily driven by continuous growth in the population suffering from cardiovascular disorders and diabetes. Presently, various countries showed the growth in number of patients suffering from hypertension and diabetes which is braced by factors such as smoking, drinking and sedentary lifestyle of the population. In addition, favorable reimbursement policies, increasing demand for minimal invasive surgeries, and technological advanced catheter with high effectiveness by its use would spur the global catheter market during the forecast period. on other hand, the wide application of catheter in various surgeries such as angioplasty would also push this market. The reimbursements by the Medicaid program that provide approximately 100 catheters per month to add the growth of catheter market in the future.
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Cardiovascular Catheters, holds a major share in the global catheter market. The cardiovascular catheter market is further segmented as PTCA balloon catheters, IVUS catheters, PTA balloon catheters, electrophysiological catheters, and others. The growth of cardiovascular catheters is majorly driven by the increasing incidences of cardiovascular diseases supporting the growth of cardiovascular interventional procedures. While, urological catheter holds the second largest segment with largest revenue. The factors contributing for the growth of urological market are continuous technological advancements, and increasing prevalence of urological diseases in the coming year.
Geographically, North America holds a dominating position in the global catheter market followed by Europe and Asia Pacific. The growth in the North America catheter market is driven by the presence of refined health infrastructure, high volume of catheterization in medical procedures, high healthcare expenditure by the individuals, and high level of patient awareness about the use catheters. Whereas, Asia Pacific is expected to reach remarkable growth owning to the increased penetration rate of these devices in the developing countries, growing technological advancements pertaining the development of new-catheter devices, and improving healthcare expenditure would influence the catheter market in Asia Pacific during the forecast period.
Key Findings from the study suggest products available in the market are continuously concentrating on the technological advancements that will reduce the side effects caused by the use of catheters. The leading companies while developing new products considers the factors such as increasing disposable income, and untapped market potential. North America is presumed to dominate the global catheter market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.
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Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.