According to a recently published report by Research Nester on “Catheters Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global catheters market in terms of market segmentation by product, by distribution channel, by end use and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global catheters market is segmented by product, distribution channel, end use and region. Based on product, the market is segmented into cardiovascular, urology, intravenous, neurovascular and specialty. The cardiovascular catheters segments are sub- segmented into electrophysiology, PTCA Balloon, Intravascular Ultrasound (IVUS) and PTA Balloon. Urology catheters segment is sub- segmented into hemodialysis, peritoneal, foley, intermittent and external. Intravenous catheters are sub- segmented into peripheral, midline peripheral and central venous. Further, specialty catheters are sub- segmented into wound/ surgical, oximetry, thermodilution and intrauterine insemination (IUI). On the basis of distribution channel, the market is segmented into hospital stores, retail stores and others. Further, on the basis of end use segment, the market is segmented into hospitals, ambulatory surgical centers and others.
The global catheter market is anticipated to record a CAGR of around 8.5% over the forecast period i.e. 2019-2027. The market is segmented by product, distribution channel and end use. By product, the cardiovascular catheters segment is anticipated to have significant growth on account of increase in cardiovascular diseases, rise in the prevalence of heart and related diseases, increase in awareness of available cardiac devices, rise in demand for minimal invasive surgeries and government initiatives for the improvement of healthcare facilities. According to Cardiology Department of the German Heart Center, around 1,200 catheter-based therapies for cardiac arrhythmias are performed per year. By end-use segment, the hospital segment will grow significantly attributing to increasing cardiac and other chronic diseases. Moreover, availability of trained hospital staff as well as growing number of surgeries along with well-developed healthcare facilities in developed region will propel the growth of the global catheters market.
Rising Prevalence of Chronic Diseases
In the past few decades, urology, cardiovascular and neurology diseases have become the most dominant cause of mortality and morbidity. Due to increasing prevalence of chronic diseases, the number of surgeries performed are also increasing. Rising prevalence of chronic diseases is expected to boost the growth of the global catheters market.
With technological innovations, easy to use and highly efficient catheters are being developed which is expected to boost the growth of the market.
North America is expected to grow at a high rate on the back of rising prevalence of cardiovascular diseases, increasing incidence of obesity, lifestyle patterns and unhealthy dietary habits and increasing geriatric population coupled with rising demand for minimally invasive procedures. Europe is expected to witness robust growth owing to growing geriatric population, increasing prevalence of diseases such as urinary disorders, neurovascular diseases and cardiac diseases and rising adoption of advanced healthcare products as well as healthcare facilities. Asia Pacific is expected to grow at a significant rate attributing to presence of population suffering from kidney and cardiovascular problems, improving medical facilities, introduction of favorable government policies and market innovations.
However, intensive capital requirement and risk of infections are expected to operate as key restraints towards the growth of catheters market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global catheters market which includes company profiling of Abbott Laboratories, Becton Dickinson And Company, Boston Scientific Corporation, Stryker Corporation, Cook Medical, B. Braun Melsungen AG, Teleflex Incorporated, Johnson & Johnson, Medtronic Inc. and Edwards Lifesciences Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global catheters market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.