Soaring Demand for catheters market Supported by Technological Boost during Stated Forecast Period until 2025
December 6, 2019 by Mike Williams
The global catheters market was valued at $10,703 million in 2017 and is estimated to reach $19,976 million by 2025, registering a CAGR of 8.0 % from 2018 to 2025.
Catheters are the medical devices that are made up of medical grade material and are used for both diagnosis as well as treatment purposes. These are usually made of plastic, silicon rubber, polyvinyl chloride (PVC), and nylon, and can easily be inserted in the patient’s body. Catheters primarily allow drainage, administration of fluids in the patient’s body and are used to perform numerous other tasks depending on the type of catheter including cardiovascular, neurovascular, urological, and others.
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High prevalence of cardiovascular diseases accompanied with the development of innovative cardiovascular catheters is the major factor that drives the market growth. Increase in prevalence of urological diseases such as urinary bladder cancer and kidney failure, has significantly fueled the demand for urological catheters. Also, novel products such as external male catheters, have proved to be a lucrative addition to the overall catheters and variants product lines for the catheters manufacturing companies. The increase in patient pool for ischemic and hemorrhagic stroke thereby increased the demand for minimally invasive neurovascular surgeries, thus making way for opportunities for the neurovascular catheters micro catheters and guiding catheters. Increase in cardiovascular diseases and growth in demand for minimal invasive surgeries drive the global catheters market. Rise in incidence of diabetes, cardiovascular diseases, urinary bladder, and kidney failures also fuel the market growth.
The catheters market is segmented based on product and region. Based on product, the market is divided into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters, specialty catheters. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key Benefits of Catheters Market:
The study provides an in-depth analysis of the global catheters market along with the current trends and future estimations to elucidate the imminent investment pockets.
A comprehensive analysis of the factors that drive and restrict the market growth is provided.
A comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
An extensive analysis of the key segments of the industry helps understand the global trends in the catheters market.
Key players and their strategies are provided to understand the competitive outlook of the industry.
Catheters Market Key Segments:
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