A recent report published by
Infinium Global Research on catheters market provides an in-depth analysis of
segments and sub-segments in the global as well as regional catheters market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional catheters market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global catheters market. According to the report,
the global catheters market is projected to grow at a CAGR of nearly 8% over
the forecast period of 2022-2028.
The global catheters market was
valued at around USD about 23 billion in 2022 and is expected to reach nearly
USD about 35 billion in 2028, with a CAGR of nearly 8% during the forecast
period. Thin tubes made of medical-grade materials such as silicon rubber,
polyvinyl chloride (PVC), plastic, and nylon, which are implanted in the
patient’s body for therapeutic and diagnostic purposes are known as a catheter.
The market growth is attributed to the technological advancement in the
manufacturing and development of advanced catheters for interventional
surgeries. The increasing prevalence of cardiovascular disorders along with the
growing global geriatric population base is anticipated to impel business
growth during the analysis period. Increasing various types of chronic and
cardiac disease has also influenced the growth of the market during the
forecast period. Furthermore, the development of new catheters by a large
number of key players fuels the growth of the catheters market size.
Growing demand for minimally
invasive medical procedures, the rising geriatric population, and the
increasing prevalence of lifestyle-encouraged diseases such as obesity and
diabetes are the key factor driving the growth of this market. In addition,
increasing investments in the healthcare industry by key market players and
increasing government and private sector investments are encouraging the growth
of the diagnostic catheters market. Government initiatives in emerging markets
and economic development in emerging markets of Asia Pacific, Latin America,
and Africa to increase healthcare expenditure are likely to provide
opportunities to the market. However, due to the increase in the number of
entrants in the domestic market, the quality of catheter devices deteriorates
as these manufacturers use cheap and substandard raw materials to manufacture
the product at low prices, restricting the market growth. Nevertheless,
catheter-associated urinary tract infections (CAUTI) are increasing with
healthcare infection is expected to hinder the growth of the catheters market.
The outbreak of the covid-19
pandemic positively affected the growth of the catheters market earlier in
2020. Catheters were utilized more often by hospitals and healthcare facility
providers to improve medical treatment for COVID-19 patients. The confirmed
patients of COVID-19 were being treated with catheters. For instance, in April
2020, Bactiguard introduced a new urinary catheter, BIP Foley TempSensor for
continuous temperature monitoring. The company reported during the pandemic that it
has a urinary catheter combined with integrated temperature monitoring and
infection control. Thus, such technological advancements help to drive the
growth of the catheters market during the forecast period.
The global catheters market is
segmented into the Asia Pacific, North America, Europe, and also the Mideast
& Africa. In terms of regions, North America holds a significant share of
the catheters market. The growth of the segment is attributed to factors such
as supportive government policies, increasing awareness of chronic disorders,
the presence of well-established healthcare facilities, and the availability of
highly skilled physicians. Moreover, the Asia Pacific region will grow at the
fastest rate during the forecast period. Increasing healthcare expenditure, as
well as the presence of large untapped opportunities in emerging economies such
as India and China. Additionally, improving medical facilities, and a growing
number of patients suffering from kidney disease and cardiovascular issues,
lead to the growth of the market in the region.
The report on the global catheters
market covers segments such as product type, lumen type, and end user. On the
basis of product type, the sub-markets include cardiovascular, intravenous,
urology, neurovascular, and others. On the basis of lumen type, the sub-markets
include single-lumen, double-lumen, and triple-lumen. On the basis of end user,
the sub-markets include ambulatory surgical centers, hospitals, dialysis
centers, and others.
The report provides profiles of
the companies in the market such as BrosMed Medical Co., Ltd., B. Braun SE,
Becton, Dickinson and Company, Medtronic Plc, C. R. Bard, Inc, Teleflex
Incorporated., Johnson and Johnson Medtech, Boston Scientific Corporation, Cook
Medical, and Cardinal Health.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of catheters market. Moreover, the study highlights current market
trends and provides forecast from 2022-2028. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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