Catheters Market Information, By Type (Cardiovascular
Catheters, Specialty Catheters, Intravenous Catheters, Urinary Catheters,
Neurological Catheters), By End Users (Hospitals & Clinics, Ambulatory
Surgical Centers, and others)- Global Forecast till 2023
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.
Market Outlook
The global Catheters
Market is expected to touch a towering valuation by exhibiting 6.14% CAGR
from 2017 to 2023 (forecast period). It can touch a valuation of USD 49,731.9
million by 2023. Rising incidence of cardiovascular diseases and other malaises
can drive the market growth exponentially. According to the American College of
Cardiology, cardiovascular related deaths accounted for 31% of global mortality
statistics. This is supported with recorded evidence of over 790,000 people in
the U.S. have heart attacks every year. Supportive insurance coverage policies
are predicted to facilitate in the market growth over the forecast period.
Preference of minimally invasive
treatments due to errors during surgeries is expected to spur the demand for
catheters. The surge noticed in diabetics as well as the geriatric populace due
to sedentary lifestyles can be a particular influence on the market.
But concerns of risk due to use
of catheters can impede the market growth.
Segmentation Analysis
The global catheters market is
segmented by type and end-user.
Catheter types discussed in the
market report include neurological catheters, intravenous catheters, urinary
catheters, cardiovascular catheters, and specialty catheters. Urinary catheters
are touted to exhibit 6.52% CAGR during the assessment period. Rising number of
urological disorders can contribute to the market revenue till 2023.
By end-user, it is segmented into
ambulatory surgical centers, hospitals & clinics, and others. The hospitals
& clinics segment is projected to reach a valuation of USD 22,396.1 million
by 2023.
Browse Complete Report : https://www.marketresearchfuture.com/reports/catheters-market-3186
Regional Analysis
Europe, the Middle East &
Africa (MEA), Asia Pacific (APAC), and the Americas are regions covered in the
catheters market report.
The Americas are touted to reach
a valuation of USD 16,638.8 million by 2023. Sophisticated healthcare
infrastructure and availability of all types of catheters due to presence of
major manufacturers can drive the market growth.
Europe is the second largest market
after the Americas. Presence of a well-established healthcare ecosystem, strong
government support in research and development, and high healthcare expenditure
are factors fueling the regional demand for catheters. Europe is studied by
bifurcating into Eastern and Western Europe, among which Eastern Europe can
exhibit the fastest growth rate during the forecast timespan.
The APAC region is deemed to
display an exemplary growth rate during the assessment period due to increasing
cases of kidney disorders, reimbursement policies, and improving healthcare
infrastructure. According to the World Health Organization (WHO), nearly 60% of
the diabetic population lives in the region, widening the scope of the global
catheters market by a huge degree. Lastly, the MEA region can contribute to a
smaller degree to the overall market revenue due to lack of funding and low
availability of medical facilities.
Competitive Outlook
Terumo Corporation, Becton, Dickinson and Company,
Abbott, ACIST Medical Systems, B. Braun Melsungen AG, Covidien AG, Cook Medical
Inc., LuMend Corporation, Boston Scientific Corporation, Medtronic plc, and
Koninklijke Philips N.V are some of the prominent names in the global catheters
market. Partnerships, acquisitions, expansions, and agreements are core
strategies of these players. Recently, Nordson Corporation acquired Clada
Medical Devices in order to extend its product offerings to balloon catheters.
Industry
News
Citrus Pharmaceuticals Inc., a prominent
U.S. company, has received approval from the U.S. Food and Drug Administration
(FDA) to extend the endpoint for its clinical trial. The trial proposed to
demonstrate the disinfection of colonized catheters using bacteremias from
Mino-Lok therapy (MLT) to antibiotic lock therapy (ALT).
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