Jul 28, 2020 5:56 PM ET

iCrowd Newswire Jul 28, 2020

Catheters Market Information, Type (Cardiovascular Catheters, Specialty Catheters, Intravenous Catheters, Urinary Catheters, Neurological Catheters), By End Users (Hospitals & Clinics, Ambulatory Surgical Centers, and others)- Global Forecast till 2023

Catheters Market Analysis

The catheter is a thin tube medical device made of high-grade material used in healthcare to deliver medications, gases, or fluids to patients or to drain bodily fluids such as urine. These are inserted into the body for the treatment of several diseases and during a surgical procedure. The globalCatheters Marketsize is estimated to reach USD 49,731.9 million with a CAGR of 6.14% from 2016 to 2023 (forecast period), says Market Research Future (MRFR). Several types of catheters, such as intravascular catheter cardiovascular catheters, specialty catheters, intravenous catheters, urinary catheters, and neurological catheters, are available on the catheters market for the treatment of diseases like cardiovascular, neurovascular,urologyand many more.

Moreover, geriatric people and diabetic patients are more likely to develop cardiac and urological diseases. According to the U.S. Department of Health and Human Services, there were around 617 million people over 65 years of age worldwide in 2015. People are more vulnerable to cardiovascular diseases or other associated diseases due to sedentary lifestyles. Thus, increasing the geriatric population, the rising number of diabetic patients, increasing preference for minimal invasive techniques, and changing lifestyles have fueled the growth of the market.

Nevertheless, as per the Centers for Disease Control and Prevention, in 2015, catheter-associated urinary tract infections were observed in 5% of the causes. The risk of infection due to the use of catheters may hinder the growth of the market.

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As per the National Institutes of Health, more than 661,000 Americans had kidney failure in 2016. Of these, 468,000 individuals were on dialysis, and 193,000 were living with a functioning kidney transplant. Additionally, as per the American College of Cardiology, in 2013, cardiovascular deaths represented 31% of all global deaths, and over 790,000 people in the U.S. have heart attacks every year. Rising number of patients with cardiac and urological diseases has boosted the growth of the market. At the University of Chicago Medicine, more than 70% of significant lung resection surgery is performed using minimally invasive techniques. People today favor minimal invasive treatment techniques, which, in effect, is expected to propel the catheters market growth.

Catheters Market Regional Analysis

Regionally, the globalcatheters markethas been segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa.

Americas dominates the global catheters market due to the presence of a large population suffering from diabetes, obesity, and cardiovascular disease. North America has the largest market share of the American catheters market. As per the report published by the Centers for Disease Control and Prevention, more than 9.3% of the total American population suffered from diabetes in 2015. According to the Centers for Disease Control and Prevention, more than 610,000 people in the United States died of heart disease in 2015. In addition, increased expenditure on healthcare and well-developed technology has fueled the growth of the market.

Europe is the second-largest catheters market, followed by the Asia Pacific. The presence of well-developed healthcare industry, significant government funding for research and development, and high expenditure on healthcare have driven the growth of the European catheters market. Germany, the United Kingdom, and France are the main contributors to the European market. Well-developed technologies have played a prominent role in the growth of the European market in these countries. However, Eastern Europe is the fastest-growing region due to the enormous potential of the untapped market.

The Asia Pacific is also anticipated to witness rapid growth, mainly due to rapidly increasing diabetic & obese populations and rising healthcare costs. As per the WHO, 60 % of the worlds total diabetic population lives in the Asia Pacific region. In addition, the presence of rapidly developing economies such as India and China are expected to boost the market growth.

The Middle East & Africa has the lowest market share due to weak political conditions in Africa and insufficient availability of funds and provision of medical facilities. The Middle East holds the largest share of the Middle East & African market due to the presence of well-developed countries such as Kuwait, Qatar, Oman, and South Arabia. In contrast, the African region expects healthy growth due to an enormous opportunity for market development.

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Catheters Market Key players

Some of the leading participants in this market are Dickinson and Company, Boston Scientific Corporation, Abbott, Medtronic plc, Koninklijke Philips N.V, B. Braun Melsungen AG, Becton, Terumo Corporation, Covidien AG (Ireland), LuMend Corporation (US), ACIST Medical Systems (US), and Cook Medical Inc. (US).

Catheters Market Segmentation

The global catheters market has been segmented based on types and end-users.

Based on types, the global catheters market has been segmented into cardiovascular catheters, specialty catheters,intravascular catheter, intravenous catheters, urinary catheters, neurological catheters, and others.

Based on the end-users, the global catheters market has been segmented into hospitals & clinics, ambulatory surgical centers, and others.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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Keywords:Catheters Market Size, Catheters Market Trends, Catheters Market Growth, Catheters Market Share, Catheters Market Insights

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Catheters Market Size Estimation, COVID-19 Impact, Emerging Trends, Key Players, Share Value and Global Industry Insights By 2023 - Reported Times