Catheters Market size to exceed $37.5bn by 2028

Published Date: March 31, 2022

Catheters Market size is set to surpass USD 37.5 billion by 2028, according to a new research report by Global Market Insights Inc.

Rise in prevalence of cardiovascular disorders, urology disorders and neurological disorders is likely to boost the industry demand. The burden of these ailments signifies the requirement for therapeutic surgical interventions that incorporate catheters among other devices. Additionally, increasing demand for minimally invasive surgeries and expansion of ambulatory surgical & specialty centers is further anticipated to propel catheters market expansion.

Increasing demand for minimally invasive surgeries are expected to stimulate the market revenue

The growing prevalence of chronic diseases such as cardiovascular disorders and urological complications among adults & geriatric patients are contributing to the rising demand for minimally invasive treatment options. Procedures such as atrial fibrillation ablation incorporating catheter ablation aide in providing therapeutic interventions. Minimally invasive surgeries have gained popularity as they are cost-effective and require a shorter stay at hospitals. These treatments have increased the life expectancy among patients and set a considerable prevalence to positively impact the catheters market statistics.

The low-cost technologies and cost-effective treatment have increased the number of patient dependency on catheter placement procedures. Moreover, fewer co-morbid conditions and lower risk is observed in patients receiving adequate care. Thus, the increasing demand for minimally invasive procedures has significantly boosted the business landscape.

Rising number of operative surgeries will propel the market progression

Based on product, the market is segmented as vascular catheters, urology catheters, intravenous catheters, specialty catheters, and others. The urology catheters segment is poised to reach USD 4,253 million by 2028. The surge in adoption of urology catheters is owing to the increased number of surgeries performed worldwide. A urine catheter is administered typically before surgery for urine retention as patients under anaesthesia have poor bladder control. In addition, growing number of hospitals and clinics in developing countries is influencing the business outlook.

Browse key industry insights spread across 483 pages with 1,055 market data tables & 16 figures & charts from the report, “Catheters Market Analysis By Product (Vascular Catheters {Cardiovascular Catheters [Electrophysiology Catheters, 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}), Lumen (Single-Lumen, Double-Lumen, Triple-Lumen), End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022– 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/catheters-market

The durability of the single lumen catheter will augment the segment growth

Based on lumen, the catheters market is segmented as single-lumen, double-lumen, triple-lumen, and others. The single lumen segment was valued at USD 6,600 million in 2021 and is projected to record healthy CAGR in the forecast period. This is attributed to the durability, optimal balance of flexibility, and anti-kinking, making the single- lumen catheters widely adopted. Single-lumen catheters are widely preferable for continuous catheterization procedures. Among its wide area of applications, single lumen catheters are employed for administration of hyperosmolar solutions, monitoring & tracing CVP, hemodialysis, and rapid infusion of fluid. Thus, the above-mentioned factors will augment the industry scenario.

Convenience and advancements of an ambulatory surgery center will spur market forecast

Based on end use, the catheters market is segmented into hospitals, ambulatory surgical centers, and others. The ambulatory surgical centers segment is expected to cross USD 6,703 million by 2028. Ambulatory surgical centers (ASCs) are also known as outpatient surgery centers, offer a variety of modern conveniences, such as a fully capable and well-equipped operating room staffed by trained healthcare experts who may provide same-day care. The majority of ambulatory surgery center treatments do not necessitate an overnight stay. It is less expensive than hospitals because of the wider autonomy.

An ambulatory surgical center can help with treatments like placing ports for cancer patients to receive chemotherapy or administering an endovascular coronary sinus catheter for cardiac surgery, as few catheter insertion operations are minimally invasive. Furthermore, the increased frequency of chronic diseases, as well as the demand for rapid professional intervention and the simplicity of accessing therapy, would aid the ASCs segment growth.

Growing adoption of catheters in Germany is estimated to fuel the business expansion

Germany catheters market is projected to surpass USD 2,283 million by 2028. This is due to the increasing advancements in the medical device industry and large number of manufacturers being present in the region. Additionally, a rise in urological complications contribute to the regional market share.

Moreover, there has been a rise in geriatric population in Germany. The older persons have a higher susceptibility to health ailments and thus adoption of catheters to help aid in various disorders have been widely observed. Hence, all the afore-mentioned factors are expected to help in propelling the market demand in Germany.

Players are implementing strategic initiatives such as product launch and business expansion to drive the revenue generation

Some of the major players operating in the catheters industry are Abbott Laboratories, B Braun, Boston Scientific Corporation, Coloplast, ConvaTec Inc., Merit Medical Systems, Edwards Life Sciences Corporation, Hollister Incorporated, Johnson and Johnson, Manfred Sauer, Medtronic Inc., Smiths Medical, Stryker Corporation, Teleflex Inc., and Wellspect Healthcare among others. These players are engaged in strategic collaborations, partnerships, and agreements to gain a competitive advantage over their competitors in the market.

For instance, In February 2022, Cerenovous, a part of Johnson & Johnson announced the launch of Emboguard, a balloon guide catheter aiding in endovascular procedures such as acute ischemic stroke. The catheter is designed to optimise the removal of clots. New launches such as this, has helped the firm enhance its product portfolio in the industry.