Portland, OR, Feb. 03, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Indwelling Catheters Market was pegged at $1.21 billion in 2019, and is anticipated to reach $ 2.32 billion by 2027, registering a CAGR of 9.1% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Rise in prevalence of urological diseases, increase in product launches, and growing number of surgeries drive the growth of the global indwelling catheters market. On the other hand, surge in catheter-associated infections hinders the market growth. However, high growth potential in emerging markets and rise in geriatric population are expected to create lucrative opportunities in the industry.
Covid-19 Scenario
- The outbreak of the pandemic made the healthcare organizations give more focus on safety wearables, diagnostic kits, and treatment vaccines and medications during the initial phase of covid-19. This, in turn, made the global indwelling catheters market face huge negligence.
- However, the government bodies in different countries are issuing unlock periods and the market is projected to retrieve soon.
The global indwelling catheters market is analyzed across product type, material, coating type, application, and region. Based on product type, the 2-way catheters segment accounted for the major market share in 2019, holding more than half of the global market. The same segment would also grow at the fastest CAGR of % 9.6 from 2020 to 2027.
Based on application, the post-surgical care segment contributed to more than half of the total market share in 2019, and is expected to retain its dominance during the forecast period. Simultaneously, the urinary incontinence segment would register the fastest CAGR of 12.8% throughout the forecast period.
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Based on region, North America held the highest market share in 2019, garnering more than two-fifths of the global indwelling catheters market. At the same time, Asia-Pacific is anticipated to showcase the highest CAGR of 10.9% during the forecast period. The other two regions covered in the report include LAMEA and Europe.
The key market players analyzed in the global indwelling catheters market report include Amsino International, Inc, Bactiguard, B. Braun Melsungen AG, Becton, Dickinson and Company, Cardinal Health Inc., Teleflex Incorporated, Coloplast, Medline Industries, Inc., Cook Medical, Inc., Sunmed, Llc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.