Global Catheter Market Overview
Catheters are thin tubes made of medical grade material such as plastic, silicon rubber, polyvinyl chloride (PVC) and nylon that are inserted in the patient’s body for therapeutic and diagnostic purposes. Catheterization is known as a primary co-procedure performed with various other medical procedures such as angioplasty, cardiac electrophysiology and neurosurgery, in which catheters are used. There are different types of catheters present in the market which includes cardiovascular catheters, neurovascular catheters, urinary catheter, intravenous catheters, and specialty catheters. Moreover, among the various types of catheters, cardiovascular are the most widely used catheters owing to high prevalence of cardiovascular diseases coupled with the development of unique-featured and enhanced cardiovascular catheters.
Market Size and Forecast
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 type, 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, escalation in the 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. 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 and well-developed healthcare facilities in the developed region is projected to propel the growth of the global catheters market.
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). The distribution channel segment is segmented into hospital stores, retail stores and others. Further, the end use segment is segmented into hospitals, ambulatory surgical centers and others. CLICK TO DOWNLOAD FREE SAMPLE
Urology catheters segment is estimated to witness significant growth over the forecast period owing to increasing prevalence of urological diseases. Catheters are majorly used within those patients which have difficulty in urinating due to various conditions such as blood clots in urine, kidney stone or severe enlargement of prostate gland. The geriatric population is becoming more prone to urological diseases which will increase the demand for urinary catheters.
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. Rising cases of diabetes, cardiovascular disorders (CVDs), urology disorders, end- stage renal disease (ESRD) and other chronic conditions due to sedentary lifestyle. 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.
Rising awareness about the product
The people are becoming more aware about the product with time. With increasing awareness about catheters, the number of midscale catheter manufacturers are gaining a higher market share which 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.
Intensive capital requirement
For development of advanced devices of proper research and development activities are to be carried out which require intensive capital which is expected to hinder the growth of the global catheters market.
Risk of infections
The continuous or repeated usage of catheters can cause Urinary Tract Infections and Central Line-associated Blood Stream Infection which is expected to hamper the market growth.
Our-in depth analysis of the global catheters market includes the following segments:
By Distribution Channel
By End Use
On the basis of regional analysis, the global catheters market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to grow at a high rate on the back of rising prevalence of cardiovascular diseases, increasing incidences 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.
The global catheters market is further classified on the basis of region as follows:
Top Featured Companies Dominating the Market
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization