Catheters Market is anticipated to grow at a CAGR of approximately 8.2% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “CathetersMarket - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global catheters market accounted for US$ 15.5 billion in 2019. It is anticipated to grow at a CAGR of approximately 8.2% from 2019 to 2030.
Thissignificant market growth can be attributed to theincreasing demand for minimally invasive surgical procedures over conventional surgery. Also, the rising prevalence of chronic disorders, leading to hospitalization;presence of multi-national manufacturers;improving medical facilities; and supportive insurance policies are some of the key factors that willboostmarketgrowth.Extensive research &developments by major companies anduniversities across the globe to makecathetersmorehygienic, safe, and preciseareexpected to further contribute to market expansion.In 2018, Coloplast Corp launched SpeediCath Flex, a soft catheter enabled with a dry sleeve & a flexible tip. These novel catheters have a hydrophilic coating that delivers hygienic, simple,& smooth catheterization.
The geriatric population across the globe is at a high risk of acquiring cardiovascular, neurovascular,&urology disorders, which will further drive the market demand. The demand for minimally invasive therapies has increased owing to the avoidance of post-surgical complications, shortenedlengths of hospital stays, and speedy recovery. The increasing prevalence of cardiovascular, neurovascular, and urology disorders will serve to be a high impact rendering factor for the industry over the forecast period.
The increasing number of surgeries being performed due to rising cases of chronic diseases,such as cardiovascular diseases, diseases associated with the urinary bladder, kidney failures, and others,will primarily drive growth of the catheters market.Moreover, there is rising awareness regardingthe productsand inflow of fundsfrom various government bodies and medical device manufacturers for R&D activities.Such factors are expected to propel growth of the catheters market.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Catheters Market by Type (Cardiovascular Catheters, Urological Catheters, Intravenous Catheters, Neurovascular Catheters, and Specialty Catheters), End Users (Hospitals, Diagnostic Imaging Centers, and Long-term care facilities)- Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/catheters-market/287
The high costs associated with advanced cardiovascular & urological catheters may hinder the market demand during the forecast timeframe. Also, the lack of accessibility for advanced catheterization procedures in emerging countries will limit the industry size.Additionally, the risk of infections caused by catheters is a major restraining factor for the catheters market.
North America is estimated to account for the highest CAGR in the catheters market over theforecast period.The presence of a well-established healthcare system will boost growth of the market. Moreover, the increasing number of target procedures performed is expected tocreate lucrative opportunitiesfor growth of the cathetersmarket in this region. APAC is expected to witness significant growth in the coming years owing to favorable regulatory guidelines &governments’ support, low manufacturing costs, the growing presence of market players in emerging economies, and constant growth in healthcare expenditure.
The prominent players in the global Catheters market are Medtronic Plc, Abbott, B. Braun, Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, Edwards Lifesciences Corporation, Teleflex Incorporated, Coloplast, Hollister Incorporated, Cook Medical, and others.
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