Global Catheter Industry will grow with a CAGR of 7.3% during 2021-2027
Across the globe, the rising prevalence of urological disorders is one of the key factors driving the market's growth. Likewise, the increasing geriatric population, which is more susceptible to such diseases and the growing preference for (MI) minimally invasive surgeries provide a thrust to the market growth. These catheters are also widely utilized in hospitals, specialty clinics, and ambulatory surgical for electrophysiological procedures that use catheters to insert wire electrodes to measure electrical activity in the blood vessels entering the heart. Further, various technological advancements, such as the utilization of robot-assisted surgical interventions, are acting as other growth-inducing factors.
COVID-19 Impact on Catheter Industry
In line with this, the COVID-19 scenario profoundly impacts the global catheter market. As the number of cases is still on the rise, the demand for catheters also increases since catheters are used in some critically ill patients suffering from COVID-19. As governments and healthcare institutions are found improving efficient medical treatment to treat COVID-19 patients, the usage of catheters will behold an upsurge in hospitals and emergency clinics. Patients with confirmed or suspected or diagnosis of COVID-19 are being treated with catheters; therefore, the demand for these devices may remain huge throughout the pandemic.Thus, this is to impact the demand for catheters positively.
Cardiovascular Catheters Segment is anticipated to maintain its Dominance throughout the Projection Period
Based on product type, the catheters market is categorized into Cardiovascular, Neurovascular, Urology, Intravenous, and Specialty. The cardiovascular catheters segment has the highest contribution to the market and is anticipated to maintain its dominance throughout the projection period. Owing to the increase in the need for interventional cardiac procedures and the rise in cardiovascular disorders' prevalence. This is associated with the increasing adoption of cardiac catheter products like angiography catheters, IVUS/OCT catheters, guiding catheters, electrophysiology catheters, and balloon catheters. Nevertheless, a urinary catheter is found to be necessary for a person facing difficulty passing urine naturally. The Urology segment has shown substantial growth due to urinary catheter products being used for patients who suffer from urological disorders, urinary incontinence, and urinary retention.
Geographically, North America is expected to influence the market during the Forecast Period.
North America, the United States, is the most significant catheter industry. This is attributed to many target procedures performed in the country, investments by hospitals to upgrade & expand operating capabilities, and the presence of a well-established healthcare system. For instance, in 2020, according to the American Cancer Society, the new cases of bladder cancer in Americans were 81,400, and about 17,980 deaths occurred in the United States.
Similarly, the market in the APAC is to witness significant growth in the coming years due to favorable regulatory guidelines and government support, lower manufacturing costs, the growing presence of market players in emerging economies, and constant growth in healthcare expenditure. According to this report Worldwide Catheter Market Size was US$ 45.30 Billion in 2021.
Key Companies
Edwards Life sciences, Teleflex, Fresenius Medical Care AG KGaA, BdCompany, Boston Scientific, Abbott Laboratories, Terumo Corporation, Johnson & Johnson, Medtronic Companies are constantly launching new products and increasing their reach by geographically expanding to gain a more substantial market share. For instance, in 2020, Boston received approval for the Ranger Paclitaxel-coated PTA Balloon Catheter.
This research report titled “Catheter Market, Global Forecast by Product Type (Cardiovascular, Neurovascular, Urology, Intravenous, Specialty), End Users (Hospital & Clinics, Specialty Centers, Ambulatory Surgical Centers and Others), Regional (North America ,Europe, Asia Pacific Row), Company Analysis (Edwards Life sciences, Teleflex, Fresenius Medical Care AG KGaA, BdCompany, Boston Scientific, Abbott Laboratories, Terumo Corporation, Johnson & Johnson, Medtronic)” provides an all-encompassing analysis on the Global Catheter Market
Product Type - Global Catheter Market
- Cardiovascular
- Neurovascular
- Urology
- Intravenous
- Specialty
End Users - Global Catheter Market
- Hospital & Clinics
- Specialty Centers
- Ambulatory Surgical Centers
- Others
Regions - Global Catheter Market
- North America
- Europe
- Asia Pacific
- Rest of World
All the companies have been studied from 3 points
- Business Overview
- Recent Developments & Strategy
- Sales Analysis
Company Analysis
- Edwards Life sciences
- Teleflex
- Fresenius Medical Care AG KGaA
- BdCompany
- Boston Scientific
- Abbott Laboratories
- Terumo Corporation
- Johnson & Johnson
- Medtronic
What is the estimated value of the Global Catheter Market?
What is the growth rate of the Global Catheter Market?
What is the forecasted size of the Global Catheter Market?
Who are the key companies in the Global Catheter Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 125 |
| Published | February 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 45.3 Billion |
| Forecasted Market Value ( USD | $ 68.95 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
Table of Contents
Companies Mentioned
- Edwards Life sciences
- Teleflex
- Fresenius Medical Care AG KGaA
- BdCompany
- Boston Scientific
- Abbott Laboratories
- Terumo Corporation
- Johnson & Johnson
- Medtronic
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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