Catheters Market Value to Cross USD 79 Billion by 2025: Global Market Insights, Inc.

SELBYVILLE, Del., November 27, 2019 (Newswire.com) - ​​Global Catheters market revenue is projected to surpass $79 billion by 2025, according to a new research report by Global Market Insights, Inc. The increasing prevalence of cardiovascular, neurological and urological diseases worldwide will drive industry growth for the catheters market over the analysis timeframe.

Technological advancements in catheterization such as precise lesions, flexibility and extended instrument capability are anticipated to propel market demand for catheters over the analysis period. Moreover, the introduction of new antimicrobial coated and navigation-enabled ablation catheters for electrophysiology procedures will increase its adoption, thereby augmenting business growth. Additionally, the surge in adoption of hydrophilic, PTFE, pro slit covered tip and other advanced catheter technologies will prove beneficial for market growth. For instance, the Mariner hydrophilic-coated angiographic catheter features duration coating technology, aids smooth navigation and reduces catheter surface friction. Hence, accessibility to such technological advanced products should foster the overall market growth. However, high cost associated with catheters may impede the market growth in developing and underdeveloped countries.

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Global market for catheters is segmented based on product, lumen and end-use. The product segment includes vascular, urology, intravenous and specialty catheters. Vascular segment is further divided into cardiovascular & neurovascular catheters. The neurovascular segment was valued around USD 2 billion in 2018 and is projected to witness lucrative growth during the analysis period. A considerable rise in the prevalence of ischemic strokes, brain aneurysms and other neurological disorders will augment the need for effective treatment, thereby boosting segmental growth. Moreover, associated benefits of neurovascular catheters such as flexibility, safe navigation of the intracranial system among others will further upsurge product adoption. The aforementioned factors are thus expected to accelerate the demand for neurovascular catheters worldwide.

Some major findings of the catheters market report include:

• Catheters are rigid or flexible hollow tubes used to drain fluids from body cavities or to enlarge body passages
• Increase in prevalence of cardiovascular and urological disorders in developed as well as developing economies will increase the demand for catheter-based procedures
• Introduction of advanced catheters will ease surgical procedures, reduce treatment time and assist in minimally invasive procedures, thus leading to a surge in market size
• Hospitals facilitated with ambulatory catheterization labs delivering top class outpatient services will accelerate the market expansion
• A growing number of catheterization procedures in Asia-Pacific will eventually upsurge demand for catheters, thereby fostering regional growth over the coming years

Lumen segment includes single-lumen, double-lumen, triple-lumen and others. The double-lumen segment is poised to witness around 11.5% CAGR during the forecast timeline. The dual lumen catheter is enabled with two channels, one for injection and the other for removal of fluids that facilitates various thoracic procedures. Moreover, rising patient preference for peripheral & interventional surgical procedures along with wide application of double-lumen venous, urological & drainage catheters will further propel segmental 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, 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

End-use segment covers hospitals & clinics, specialty centers, ambulatory surgical care centers (ASCs) and others. The hospitals and clinics segment is anticipated to account for more than 32% revenue share by 2025. The growth is attributed to technological advances coupled with favorable reimbursement policies in hospitals. Furthermore, well-developed healthcare infrastructure and availability of advanced treatments will boost hospital segmental growth in the upcoming years.

The U.S. catheters market accounted for around USD 11.9 billion in 2018. Growing adoption of non-invasive surgical procedures coupled with growing demand for advanced medical treatments will positively influence the market expansion. Increasing healthcare spending on advanced medical treatments and strong foothold of key market players in the U.S. will escalate product adoption, thereby driving industry progress.

Some of the notable industry players operating in the catheters market are Abbott Laboratories, B Braun, Boston Scientific Corporation, Coloplast, ConvaTec, Cure Medical, Edwards Life Sciences Corporation, Hollister Incorporated, Johnson and Johnson, Manfred Sauer, Medtronic, Smiths Medical, Stryker Corporation, Teleflex and Wellspect Healthcare among others. The business players focus on numerous inorganic and organic growth strategies to sustain market competition. For instance, in March 2018, Smiths Medical announced the FDA clearance and U.S. launch of Delta Med closed system catheter. The new product launch helped the company in expanding its existing customer base and gain more revenue.

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https://www.gminsights.com/industry-analysis/transcatheter-heart-valve-replacement-market

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Source: Global Market Insights, Inc.