Zion Market Research has published a new report titled “Catheter Market by Product (Cardiovascular, Urology, Intravenous, Neurovascular and Specialty Catheters) – Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2020 – 2026.” According to the report, the Catheter market accounted for USD 38.4 Billion in 2019 and is expected to reach USD 73.4 Billion by 2026, growing at a CAGR of around 7.2% between 2020 and 2026.
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Worldwide, catheter market is boosted majorly owing to the unremitting increase in population of patients suffering from cardiovascular disorders, as per analysts at Zion Market Research. Tachycardia, diabetes, and hypertension are no more a rare disease among people. Currently, every nation has displayed the marked elevation in hypertension and diabetes patients supported by various lifestyle reasons that include drinking, smoking, and sedentary lifestyle. This stimulates increasing demand for minimally invasive operations that propel the development of global catheter market. Moreover, favorable reimbursement policies, increasing aging population and rising requirement for enhanced urinary catheters are major reasons resulting in augmented demand for urinary catheters, therefore powering the development of the catheter market. On the other hand, the occurrence of nosocomial urinary tract infection due to catheter is expected to be limitation factor for the development of global catheter market.
Nevertheless, in-progress research and development in healthcare and medical sector are expected to bring new growth opportunities in medical device industry, thereby boosting the catheter market. For example, in August 2018 scientists at Okayama University posted in The Journal of Vascular Access about a supporting device for precisely placing hemodialysis catheters on patients’ kidney. The device was productively employed on a group of 10 people and is likely to become an important device in situations where catheter-free hemodialysis techniques are not possible, thereby boosting the catheter market.
In terms of topography, North America was the dominating area for catheter market in terms of income. The development in North America is credited on the back of the availability and presence of enhanced health care infrastructure & technology. In addition to this, the increment in the occurrence of heart-related & diabetes issues such as arthrosclerosis, pulmonary heart diseases, and others in Canada & the U.S. will augment, thereby propelling the requirement of catheter market in this area. North America adds up for almost 40% of the share for global catheter market. Asia pacific is anticipated to display noteworthy development in the global catheter market during the forecast period.
Major market players of catheter market comprise Becton Dickinson Inc., Abbott Laboratories, Bard Medicals, Boston Scientific, Arrow International Inc., Braun Melsungen AG, Medtronic Inc., Johnson and Johnson, Edwards Life Sciences, Rochester Medical Co., Vascular Solutions, and Bayer AG.
The global catheter market is segmented as follows:
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