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 catheters market.
The global catheters market is
projected to reach USD 24.2 billion by 2025 from USD 15.9 billion in 2020, at a
CAGR of 8.7%.
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Market Segmentation: -
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.
Regional Analysis:
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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