The growing target patient population and the rising focus on minimally invasive surgical procedures over conventional surgery are the major factors driving the growth of this market.
The report Catheters Market is
Projected to Reach USD 24.2 Billion by 2025, at a CAGR of 8.7% from 2020 to
2025
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On the basis of type, the global catheters
market is segmented broadly into cardiovascular, urological, intravenous,
neurovascular, and specialty catheters. Cardiovascular catheters commanded the
largest share of the catheters market in 2019 and are expected to grow at the
highest CAGR during the forecast period. This is primarily attributed to
factors such as the high incidence of CVD, the growing geriatric population,
and increasing awareness regarding early diagnosis. These factors have resulted
in an increase in cardiovascular surgeries, which positively impacts the
cardiovascular catheters market.
Based on end user, the catheters market is
segmented into hospitals, long-term care facilities, diagnostic imaging
centers, and other end users. In 2019, hospitals were the largest end users of
catheters. This segment is expected to grow at the highest CAGR, majorly due to
the high volume of target procedures performed in hospitals. The presence of
big cath labs and electrophysiology labs in hospitals and a growing patient
population are other key drivers of this market. The emergence of advanced
diagnostic imaging catheters, coupled with the demand for minimally invasive
procedures, is accelerating the adoption of catheters in hospitals.
The catheters market has been divided into
four major regions, namely, North America, Europe, the Asia Pacific, and the
Rest of the World (RoW). North America accounted for the largest share of the
global catheters market in 2019.
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The prominent players operating in this
market include Medtronic (Ireland), Edwards Lifesciences Corporation (US),
Teleflex Incorporated (US), Abbott (US), B. Braun Melsungen AG (Germany),
Becton, Dickinson and Company (US), Boston Scientific Corporation (US),
ConvaTec Group (UK), Coloplast (Denmark), Johnson & Johnson Services (US),
Terumo Corporation (Japan), Hollister Incorporated (US), Stryker (US), Cook
Medical (US), and Merit Medical Systems (US).
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