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(Medical-NewsWire.com, February 19, 2018 ) MarketResearchFuture.com adds “Catheters Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.
The intense need for in-depth understanding of the "Catheters Market -Forecast to 2023″ coupled with its high growth potential necessitated the development of this report by Market Research Future. The report specifically focuses on the key industry development trends and forces that shapes the market, but not limited to only commercial nature, but which encompasses a broad range such as social, technological and others. The global catheters market is expected to grow at a CAGR of 6.14% during the forecast period 2017-2023.
Regional Analysis:
The Americas dominate the global market owing to a huge population with cardiac diseases, increasing geriatric population, strong government support for research & development and high health care spending. According to the WHO, in 2014, 9.7% of total America population had diabetes. Increasing prevalence of the diabetes has boosted the market growth in America. Additionally, changing lifestyle and the presence of major players in the market have fueled the growth of the market.
Europe is the second leading region in the global catheters market, which is followed by Asia Pacific. Asia Pacific is the fastest growing catheters market majorly driven by India, China, and Japan owing to a huge number of patients and rapidly growing economy. The healthcare expenditure in in Asia Pacific has increased during last few years, which has contributed to the growth of market.
The Middle East and Africa contribute the least to the growth of the global market. The UAE, Saudi Arabia, and Kuwait lead the Middle East & Africa market. Africa holds the least share of the global market due to limited availability of medical facilities and poor economic condition of the region. However, the growth of the African market is high due to the presence of opportunities for the development of the market.
Considering the global scenario of the market, America dominates the global catheters market owing to the presence of huge population suffering from diabetes, obesity, and cardiovascular diseases. North America holds the largest market share of the American catheters market. According to the report published by Centers for Disease Control and Prevention, in 2015, over 9.3% of the total American population is suffering from diabetes. According to Centers for Disease Control and Prevention, in 2015, over 610,000 people died of heart disease in the US. Additionally, increasing healthcare expenditure, and well-developed technology has fuelled the growth of the market.
Key Players:
Some of the major players in this market are Boston Scientific Corporation, Koninklijke Philips N.V, Abbott, Medtronic plc, B. Braun Melsungen AG, Becton, Dickinson and Company, Terumo Corporation, LuMend Corporation (US), Conidian AG (Ireland), ACIST Medical Systems (US), and Cook Medical Inc. (US)
Intended Audience:
Catheters Products Manufacturers
Catheters Products Providers
Medical Research Laboratories
Research and Development (R&D) Companies
Market Research and Consulting Service Providers
Potential Investors
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Market Highlights:
Catheters, a thin tube like medical devices inserted into a body cavity, duct, or vessel. They are used in drainage, administration of fluids or gases, and also to perform a wide variety of other tasks depending on the type of catheter. Increasing prevalence of the patients cardiac and urological diseases have increased the demand for the catheters. To increase the market demand, many manufacturers are trying to introduce the new and advanced types of catheters. The global catheter market is majorly driven by increasing prevalence of cardiac & urological diseases, increasing preference for minimal invasive therapy, and increasing geriatric population. Additionally, changing lifestyle and rising healthcare spending have spurred the growth of the market. However, long time for approval, and risk of infection may slow the growth of the market over the review period.
Increasing number of patients with cardiac and urological diseases has boosted the growth of the market. At the University of Chicago Medicine, over 70% of major lung resection surgeries are performed using minimally invasive techniques. Nowadays, people are preferring minimal invasive techniques for the treatment. Geriatric people and diabetic patients are more prone to becoming cardiac and urological diseases. According to the U.S. Department of Health and Human Services, in 2015, globally the people over age 65 were around 617 million. Due to a sedentary lifestyle, people are more prone to cardiovascular diseases or other related diseases. Thus, increasing geriatric population, elevating a number of diabetic patients, increasing preferring minimal invasive techniques, and changing lifestyle have fuelled the growth of the market. However, according to the Centers for Disease Control and Prevention, in 2015, in 5% of the causes, catheter-associated urinary tract infection was observed. Risk of infection due to use of catheter may slow the growth of the market.
The market for catheters is growing at a tremendous pace. The market is expected to grow at the CAGR of 6.14% during the forecast period and is estimated to reach USD 49,731.9 million by 2023.
Key Findings:
Cardiovascular catheters segment accounts for the largest share of the global catheters market while urinary catheters segment is projected to grow at a CAGR of 6.52% during the forecast period from 2017-2023
Hospitals & clinics segment accounts for the largest market share in the global catheters market by end users, this segment is expected to reach USD 22,396.1 in 2023
Americas market is expected to reach USD 16,638.8 by 2023
Segmentation:
The global catheters market has been segmented on the basis of types and end users.
On the basis of the types, the market is segmented into cardiovascular catheters, specialty catheters, intravenous catheters, urinary catheters, neurological catheters, and others.
On the basis of the end users, the market is segmented into hospitals & clinics, ambulatory surgical centers, and others
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