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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In 2019, the cardiovascular catheters segment accounted for the
largest share of the market.
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.
Hospitals to be the largest end users of catheters
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.
North America was the largest regional market for catheters in
2018
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. This is attributed to various factors such as the large number
of target procedures performed in the region, the presence of a
well-established healthcare system, and investments by hospitals to upgrade
& expand operating capabilities.
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Top Key Players:-
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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