New York, USA, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global catheters market was estimated at USD 53.67 billion in 2023 and is anticipated to reach USD 99.30 billion by 2032. The market is likely to record a compound annual growth rate (CAGR) of 7.2% during 2024–2032.
What is Catheter?
Catheter is a thin tube-formed medical device that helps drain urine from bladder. It also serves functional purposes such as delivering medicine or fluids to blood and diagnosing or treating heart conditions. During bladder, bowel, or urinary tract surgeries, catheters are used to remove urine from the body.
Catheters are usually made of one of the materials, including rubber, silicone, latex, polyvinyl chloride (PVC), and polyethylene. Urinary catheters, intravenous catheters, and cardiac catheterization are the three main types of catheters. Depending on the treatment needs, catheters may be placed in the body either temporarily or permanently.
Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 53.67 billion |
| Market value by 2032 | USD 99.30 billion |
| CAGR | 7.2% from 2024 to 2032 |
| Base year | 2023 |
| Historical data | 2019–2022 |
| Forecast period | 2024–2032 |
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Key Highlights of Report
- Factors such as the rising prevalence of chronic diseases, increasing technological developments, and growing demand for minimally invasive surgeries across developing nations drive the catheters market growth.
- The market is primarily segmented on the basis of product type, lumen, material, end `use, and region.
- Based on region, North America held the largest catheters market share in 2023.
Catheters Market Key Players
- Abbott Laboratories
- Braun Melsungen AG
- Becton Dickson and Company,
- Boston Scientific Corporation
- ConvaTec Group Plc
- Cure Medical LLC
- Edward Lifesciences
- Hollister Incorporated
- Johnson & Johnson Inc.
- Medtronic
- Smith Medical Inc.
- Teleflex Incorporated
- Manfred Sauer
- Stryker Corporation
- Dentsply Sirona Inc.
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Growth Drivers and Trends:
- Rising Demand for Minimally Invasive Surgeries: A common condition called Peripheral artery disease (PAD) often requires surgical techniques such as catheterization. Instead of conventional surgery, patients affected by PAD prefer angioplasty procedures, which is fueling the demand for such interventions. Thus, the growing preference for minimally invasive surgeries in emerging markets drives the growth of the catheters market.
- Increasing Prevalence of Chronic Diseases: Catheters are commonly used to diagnose conditions, including diabetes, renal disease, urinary tract issues, cardiovascular disease, and others, and there is an increasing prevalence of these conditions across the globe. According to the World Health Organization (WHO), noncommunicable diseases such as heart disease, stroke, cancer, diabetes, and chronic lung disease are collectively responsible for 74% of all deaths worldwide. Thus, the rising prevalence of chronic illnesses boosts the demand for catheters.
- Technological Advancements: To cater to the rising demand for minimally invasive surgeries, market players focus on various technological advancements, such as smaller catheters and antimicrobial coatings to reduce the risk of complications like restenosis. These increasing technological developments are driving the market growth.
- Rising Number of Cardiovascular Illness Cases: The rise in sedentary lifestyles, including unhealthy diet, reduced physical activity, and high tobacco and alcohol consumption, has led to increased prevalence and mortality rates of cardiovascular diseases. As a result, there is a growing demand for longer hospital stays and additional medical procedures, which is driving catheters market revenue.
Which Region Dominates Catheters Market Globally?
North America held the largest global catheters market share in 2023 and is anticipated to retain its dominance during the forecast period. Rising geriatric population and surging prevalence of chronic diseases are a few of the prominent factors contributing to the regional market growth. In addition, the presence of major manufacturers such as Boston Scientific Corporation, Medtronic, and Teleflex Incorporated positively influence the regional market growth. As awareness of the importance of early diagnosis and treatment of chronic diseases increases among patients and healthcare professionals, the demand for catheters is expected to rise in North America in the coming years.
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Segmental Overview
Catheters Market – Product Type-Based Outlook
- Cardiovascular Catheters
- PTA Balloon Catheters
- Electrophysiology Catheters
- PTCA Balloon Catheters
- IVUS Catheters
- Urology Catheters
- Peritoneal Catheters
- Foley Catheters
- Intermittent Catheters
- External Catheters
- Hemodialysis Catheters
- Intravenous Catheters
- Central Venous Catheters
- Midline Peripheral Catheters
- Peripheral Catheters
- Specialty Catheters
- Thermodilution Catheters
- IUI Catheters
- Wound/Surgical Catheters
- Oximetry Catheters
- Neurovascular Catheters
Catheters Market – Lumen-Based Outlook
- Single-Lumen
- Double-Lumen
- Triple-Lumen
Catheters Market – Material-Based Outlook
- Silicone Catheters
- Polyurethane Catheters
- Latex Catheters
- Others
Catheters Market – End Use-Based Outlook
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Homecare Settings
Catheters Market – Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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