May 26, 2020 (Market Insight Reports) -- Selbyville, Delaware. A Research study on Catheters Market analyzes and offers ideas of exhaustive research on ancient and recent Catheters market size. Along with the estimated future possibilities of the market and emerging trends in the Catheters market.
According to a new report published by The marker research report, the global catheters market is anticipated to reach USD 56.5 billion by 2025. In 2017, by product type, cardiovascular catheter segment captures the largest market shares in terms of revenue and hold major share in the market. Regionally, North America accounted for the major share in the catheter market.
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Catheters are thin tubes made up of plastic, nylon, polyvinyl chloride (PVC), and silicon rubber. Catheters are majorly used in catheterization while surgical procedures like angioplasty, and neurosurgery. The catheters market is primarily driven by continuous growth in the population suffering from cardiovascular disorders and diabetes. Presently, various countries showed the growth in number of patients suffering from hypertension and diabetes which is braced by factors such as smoking, drinking and sedentary lifestyle of the population. In addition, favorable reimbursement policies, increasing demand for minimal invasive surgeries, and technological advanced catheter with high effectiveness by its use would spur the global catheter market during the forecast period. on other hand, the wide application of catheter in various surgeries such as angioplasty would also push this market. The reimbursements by the Medicaid program that provide approximately 100 catheters per month to add the growth of catheter market in the future.
The leading companies operating in this industry include Johnson & Johnson Inc., Abbott Laboratories, Becton, Dickson and Company, B. Braun Melsungen AG., Medtronic plc., Boston Scientific Corporation, Cook Group Incorporated, Teleflex Incorporated, Cardinal Health Inc., Smiths Medical, Arrow International Inc., Edward Life Science Corporation, and Coloplast.
Cardiovascular Catheters, holds a major share in the global catheter market. The cardiovascular catheter market is further segmented as PTCA balloon catheters, IVUS catheters, PTA balloon catheters, electrophysiological catheters, and others. The growth of cardiovascular catheters is majorly driven by the increasing incidences of cardiovascular diseases supporting the growth of cardiovascular interventional procedures. While, urological catheter holds the second largest segment with largest revenue. The factors contributing for the growth of urological market are continuous technological advancements, and increasing prevalence of urological diseases in the coming year.
Geographically, North America holds a dominating position in the global catheter market followed by Europe and Asia Pacific. The growth in the North America catheter market is driven by the presence of refined health infrastructure, high volume of catheterization in medical procedures, high healthcare expenditure by the individuals, and high level of patient awareness about the use catheters. Whereas, Asia Pacific is expected to reach remarkable growth owning to the increased penetration rate of these devices in the developing countries, growing technological advancements pertaining the development of new-catheter devices, and improving healthcare expenditure would influence the catheter market in Asia Pacific during the forecast period.
Global Catheters Market: Drivers and Restraints : This section of the Catheters Market Analysis report we are covering various drivers and restraints that have affected the global Catheters market. The complete study of plentiful drivers of the market enables market professionals to get a clear viewpoint of the Catheters market share, which consists of Catheters industry environment, advancement market, product innovations, latest developments, and Catheters market risks.
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Key Findings from the study suggest products available in the market are continuously concentrating on the technological advancements that will reduce the side effects caused by the use of catheters. The leading companies while developing new products considers the factors such as increasing disposable income, and untapped market potential. North America is presumed to dominate the global catheter market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.
Some of the Highlights about Table of Content of Catheters Market
1 Catheters Market overview
Catheters Market Research Methodology
2 Executive Summary
World Market Overview
Global Catheters Consumption analysis and forecast