Sarasota, FL, May 16, 2017 (GLOBE NEWSWIRE) -- 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, and Forecast, 2015 – 2021”. According to the report, the global catheter market was valued at USD 26.60 billion in 2015 and expected to reach USD 46.20 billion by 2021, growing at a CAGR of 9.7% between 2016 and 2021. In terms of volume, global catheter market stood at 10,174.25 million units in 2015.
The catheter is a thin sterilized tube made from medical grade materials and can offer a broad range of medical conditions. Catheters can also be inserted into a body cavity, duct or vessel for drainage, administration of fluids or gasses. Catheters used to access for surgical instruments and also to perform a wide variety of other tasks depending upon the type of catheter.
Browse through 19 Market Tables and 30 Figures spread through 110 Pages and in-depth TOC on “Global Catheter Market: By Type, Product, Industry Size, Share, Trends, Segment Analysis, and, Forecast 2015-2021”.
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Globally, catheters market is driven mainly due to the continuous rise in population of cardiovascular disorders patients across the world. Diabetes, tachycardia, hypertension are no more rare among individuals. At present, each country has shown the marked rise in diabetes and hypertension patients supported by various lifestyle factors which include smoking, drinking, and sedentary lifestyle. These factors increasing demand for minimally invasive surgeries which propel the growth of global catheter market. In addition, growing aging population, favorable reimbursement policies and increasing demand for advanced urinary catheters are major factors leading to increased demand for urinary catheters, thereby fuelling the growth of the catheter market. However, the incidences of nosocomial urinary tract infection caused by catheter are likely to be a restraint for the growth of global catheter market. Nonetheless, ongoing research and development in medical and healthcare sector are likely to bring new growth avenues in medical device industry.
Based on product, the global catheter market is segmented into five types: cardiovascular catheter, neurovascular catheter, urological catheter, intravenous catheter and specialty catheters. Specialty catheters dominated the catheter market in 2015 followed by the cardiovascular catheter. Cardiovascular catheters account for approximately 30% share of global catheter market, whereas intravenous catheters account for approximately 14% share of total catheter market. The growth of the cardiovascular catheters market is attributed to the abnormal or sudden increase in cardiovascular diseases which include diabetes, coronary heart diseases, agina pectoris and other heart-related diseases. Different type of cardiovascular catheters utilized by practitioners dealing with heart diseases includes a guiding catheter, balloon catheters, intravascular ultrasound catheters, angiography catheters, pulmonary artery catheters and others. Growing percentage of heart surgery is considered as a major driving factor for the cardiovascular catheter market. The cardiovascular catheter is the second largest segment in terms of generating revenue.
Browse the full "Catheter Market by Product (Cardiovascular, Urology, Intravenous, Neurovascular and Specialty Catheters) - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/catheter-market
North America was the dominating region for catheter market in 2015. The growth was accredited due to rising incidence of kidney problem in the U.S. In addition, rising prevalence of diabetes and other cardiovascular disorder in individuals considered as major driving factors for the growth of catheters market in this region. Moreover, high-end research and technological advancements, increasing consultant interest are the important key factors which drive the demand of catheter market in this region. Higher healthcare expenditure and encouraging healthcare infrastructure in this region are other growth factors for catheter market. North America accounted for approximately more than 37% of total revenue of catheter market. In addition, the presence of a large number of biopharmaceutical firms, leading market players and research institutes in North America played a significant role in driving the catheters market.
Europe holds the second largest market shares in term of revenue for catheter market. In 2015, Europe shares approximately 29.0% of total catheter market. The growth is credited due to the presence the of a number of countries with high development index in Europe. Europe is expected to continue to hold the second largest market for global catheter market in 2015. This growth is mainly associated with advancement in technological and healthcare research in this region.
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The Asia-Pacific region may offer significant opportunities for the catheter market during the forecast period. At present, China and India being the most populous countries in this region are contributing to the increased demand for catheter devices which are utilized for the cardiovascular, urinary and neurological disorder. China is the second-largest economy after the U.S. It is home to the world’s largest population with close to 1.37 billion inhabitants followed by India with approximately 1.28 billion people in 2015. These two countries contribute approximately 40% of total world population. Rising percentage of cardiovascular patients in Asia-Pacific region is considered as a major driving factor for collecting revenue for catheters market after Europe.
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Key market players of catheter market include Abbott Laboratories, Becton Dickinson Inc., Boston Scientific, Bard Medicals, Braun Melsungen AG, Arrow International Inc., Johnson and Johnson, Medtronic Inc., Rochester Medical Co., Edwards Lifesciences, Hollister Inc., Medrad (Bayer AG) and Vascular Solutions.
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This report segments the global catheters market as follows:
Global Catheters Market: Product Segment Analysis
- Cardiovascular Catheters
- Neurovascular Catheters
- Urological Catheters
- Intravenous Catheters
- Specialty Catheters
Global Catheters Market: Regional Segment Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Australia
- Latin America
- Brazil
- Middle East & Africa
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