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Catheters Market (Product Type - Cardiovascular, Intravenous, Urology, Neurovascular, and Others; Lumen Type - Single-lumen, Double-lumen, and Triple-lumen; End User - Ambulatory Surgical Centers, Hospitals, Dialysis Centers, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Catheters Market (Product Type - Cardiovascular, Intravenous, Urology, Neurovascular, and Others; Lumen Type - Single-lumen, Double-lumen, and Triple-lumen; End User - Ambulatory Surgical Centers, Hospitals, Dialysis Centers, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Report Code: HC0233 Category: Healthcare & Medical Devices Published: September, 2022

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.

 

Market Insight

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.

 


Catheters Market


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.

 

Segment Covered

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.

 

Companies Profiled:

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.

 

Report Highlights:

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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