New York, USA, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Catheters Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Catheters Market Information by Type, End-Users, and Region - Forecast till 2030”, the market will continue to record solid growth at a rate of 8.30% between 2022 and 2030.
Catheters Market Scope
Catheterization can be described as a kind of co-procedure that is carried out coupled with different medical procedures such as cardiac electrophysiology, neurological surgery, and angioplasty. It involves the use of a tube, which is inserted into the bladder to allow urine to freely pass. There are a variety of catheters available in the market, including neurovascular catheters, cardiovascular catheters, specialty catheters, and urological catheters.
Catheters are generally deployed for a short period, mostly a few weeks or months. It is most useful in situations requiring continuous bladder drainage; however, they are occasionally used for longer periods as well. Urinary catheters find use among those patients that face difficulty in naturally passing the urine. It also helps empty the bladder prior to and following surgery.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 78.5 Billion |
| CAGR | 8.30% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increase In Preference for Minimally Invasive Procedures |
| Rising Number of Patients Suffering From Urological and Cardiac Problems |
Catheters Market Competitive Landscape:
The eminent vendors in the catheters industry are
- Cook Medical Inc.
- Koninklijke Philips N.V
- Abbott, Medtronic Plc
- Boston Scientific Corporation
- Becton, Dickinson, And Company
- Lumend Corporation
- Braun Melsungen Ag
- Acist Medical Systems
- Covidien Ag (Ireland)
- Terumo Corporation
Companies are focused on launching innovative, more upgraded versions of their products to foster their geographical presence worldwide. Strategic contracts and alliances are quite common among various medical device manufacturers and distributors. These alliances allow the manufacturers to procure the license to sell their products while reducing their liability in case of any adverse event or product recalls.
Catheters Market Dynamics:
Market Drivers:
The continuous technological innovations in manufacturing along with the emergence of cutting-edge catheters to carry out interventional surgeries should favor the worldwide market. Rising cases of cardiovascular disorders as well as the rise in the global elderly patient pool will also catapult the market position in the years to come. Most players active in the market are emphasizing on creating precise, cost-effective, and efficient catheters; these efforts are expected to benefit the global industry in the long run. These improved catheters assist in bringing down the total time needed for hemostasis while preventing blood loss following the interventional surgery. The rapid increase in the number of people affected by chronic diseases also promotes the adoption of catheters, a factor that should encourage further market growth.
Furthermore, the expanding elderly populace, surging cases of heart illnesses, and the subsequent increase in interventional procedures will bolster the need for technologically innovative products. The need for faster diagnostic procedures as well as early discharge of the patient, improved patient comfort, and reduction in major surgical complications like vascular thrombosis and bleeding is bound to create a higher demand for catheters.
Market Restraints:
Low awareness levels regarding catheters, especially in poor countries, can be a major challenge for the worldwide market. Several health facilities worldwide remain unaware of the advantages of these devices, accompanied by poor medical infrastructure and economic standards. This can bring down the market demand in these countries in the years ahead.
Moreover, the lack of standardization regulations and policies for catheters can also work against the global market.
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Catheters Market COVID 19 Analysis
The COVID-19 outbreak has rendered a significant blow to the worldwide market. The medical sector is now in urgent need of effective covid patient care. The catheter market is therefore noting sustained demand during this period. Medical devices such as catheters are frontline instruments and are proving to be quite useful during these times.
Various manufacturers are creating products like coated urine catheters equipped with temperature monitoring for the patients to provide robust protection against infections other than novel coronavirus. This should also assist in market expansion.
Catheters Market Segmentation
By Type
Neurological Catheters, Specialty Catheters, Cardiovascular Catheters, Urinary Catheters, and Intravenous Catheters are the major types of catheters.
Out of these, the cardiovascular catheter segment should take over the worldwide market with the highest share. Meanwhile, the urinary catheters segment can anticipate a CAGR of 6.52% between 2022 and 2030.
By End Users
Ambulatory Surgical Centers and Hospitals & Clinics are the top end-users in the worldwide industry.
The hospitals & clinics segment has taken the biggest share in the catheters market.
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Catheters Market Regional Insights
The American market for catheters is all set to take the lead in the following years, on account of the rising number of elderly residents, and the exploding patient base affected by cardiac diseases. The robust government support with respect to research & development, and significant health care spending adds to the market value as well.
Europe is the next most formidable market for catheters, owing to the extensive use of technologically sophisticated medical technologies and the surging number of a variety of surgical procedures.
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The Asia Pacific will continue to thrive at the fastest pace in the global market between 2022 and 2030, thanks to the huge demand for catheters in India, Japan, and China. The burgeoning patient pool, the improving economy, and the surge in healthcare spending across the Asia Pacific will mean stronger demand for catheters in subsequent years.
The Middle East and Africa can project the slowest growth in the years to come, not adding much to the global market for catheters. The UAE, Kuwait, and Saudi Arabia are the biggest markets in the Middle East & Africa.
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