Catheters Market size to exceed $79bn by 2025

Catheters Market size is set to exceed USD 79 billion and 9,000 million units in terms of volume by 2025; according to a new research report by Global Market Insights, Inc.
 

The rising geriatric population base that is at higher risk of acquiring cardiovascular, neurovascular and urology disorders will stimulate the business growth. Moreover, rise in demand for advanced products such as antimicrobial catheters will further surge the catheters industry growth over analysis timeframe.

 

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Increasing demand for minimally invasive surgeries will boom the market evolution

The growing demand for minimal invasive surgery will act as significant driver for the catheters market demand. The surgeons and patients are preferring minimally invasive surgery over other traditional invasive surgical techniques in order to curb side effects related to invasive surgeries. In case of neurological surgery, neuro-interventional procedure is preferred due to provision of minimal damage to adjacent healthy tissues, reduced chances of infection post-surgery, limited hospital stays, lesser surgical scar and minimum surgical trauma. The increasing demand of minimally invasive surgeries globally will drive market growth over the forecast timeframe. However, high costs of advanced catheters may hamper the market growth. Additionally, surge in catheter-based hospital acquired infections will hamper the market growth.
 

Urology catheters is projected to grow at rapid pace driven by an upsurge in urinary diseases among geriatric population

Based on product, the market is segmented into vascular, urology, intravenous and specialty catheters. Urinary catheter segment urinary catheter will witness around 10.5% CAGR during the forecast timeline. Dialysis catheter and urinary catheters are the two major types of urology catheters. These products are used for patients who suffer from urinary retention, incontinence and other urological disorders. The growing prevalence of urinary disorders coupled with aging population will boost the segmental growth in the market. Moreover, favorable reimbursement policies and rising interest for advanced urinary catheters are key factors heading to enhanced demand for urinary catheters. Additionally, firms aiming to manufacture advanced urinary catheter products using hydrophilic technology will augment the market growth.
 

Browse key industry insights spread across 600 pages with 1,478 market data tables & 10 figures & charts from the report,Catheters Market Share By Product (Vascular Catheters {Cardiovascular Catheters [Electrophysiology Catheters (EP Ablation {Radiofrequency, Lasers}, EP Diagnostics {Fixed, Steerable, Advanced}), PTCA Balloon Catheters, IVUS Catheters, PTA Balloon Catheters], Neurovascular Catheters}, Urology Catheters {Dialysis Catheters [Hemodialysis Catheters, Peritoneal Catheters], Urinary Catheters [Indwelling Catheters, Intermittent Catheters, External Catheters]}, Intravenous Catheters {Midline Peripheral Catheters, Peripherally Inserted Central Catheters, Central Venous Catheters}, Specialty Catheters {Wound Catheters, Oximetry Catheters, Thermodilution Catheters}),  By Lumen (Single-Lumen, Double-Lumen, Triple-Lumen), By End-use (Hospital & Clinics, Specialty Centers, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Poland, China, Japan, India, Australia & New Zealand, South Korea, Brazil, Argentina, Venezuela, Mexico, South Africa, Saudi Arabia, UAE), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/catheters-market
 

Single lumen to grow at moderate pace

Based on lumen size, the catheters market is segmented into single-lumen, double-lumen, triple-lumen and others. The single-lumen segment will witness around 11.3% CAGR during the forecast timeline. The considerable segmental growth can be attributed to wide use of single-lumen catheter in intra venous infusion, urological and drainage procedures, and that will propel the market growth. Furthermore, rise in prevalence of chronic diseases will boost the demand for single-lumen type over the forecast timeframe.
 

Specialty care centers will boom catheters market expansion

On the basis of end-use, market is segmented into hospitals and clinics, specialty centers, ambulatory surgical centers and others. Specialty centers accounted for high share of around 45% in 2018 and expected to register significant growth during estimated period. The growth is mainly attributable to availability of emergency facilities, well established healthcare infrastructure and accessibility of skilled healthcare technicians. Furthermore, growing demand for high-quality procedures along with rising prevalence of accidental injuries, cardiac arrest, neurological disease and chronic renal disease will increase demand for rapid catheter-based surgical treatment. Hence, this will further enhance catheters market growth in specialty care center segment.
 

Growing government initiatives will boost the Canada catheters industry growth

Canada catheters market outlook is estimated to witness over 12% CAGR owing to increasing prevalence of lifestyle diseases such as obesity and diabetes coupled with growing geriatric population. For instance, according to a recent study by World Obesity Federation (WOF), 34% of Canadian adults will suffer from obesity by 2025. High disposable income and favorable reimbursement policies will escalate the demand. Moreover, advancement in technologies, increasing hospitalization rate, and increasing penetration of company’s operation in the market will further propel the market growth. For instance, in March 2018, cure medical expanded its sale of Cure Ultra catheters in Canada. Additionally, advancement in existing products with different coating will enhance demand for the catheter market in this nation in coming years.
 

Several inorganic growth strategies in the industry will offer opportunities to market participants

The increasing focus of industry players on developing technically advanced catheters will provide lucrative growth opportunities. Notable players functioning in the market include Boston Scientific Corporation, Biotronik, Abbott Laboratories, Medtronic, Johnson & Johnson, and Coloplast. Various established business players are adopting numerous organic and inorganic growth strategies to increase their market share. For instance, in April 2019, Biotronik launched its new product ‘Carnelian Support catheter’. It is designed to enhance the accessibility for treatment of highly calcified trauma and obsessions. Carnelian Support is specifically designed for the support and exchange of guidewires into peripheral vasculature.
 

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