Catheters Market is Projected to Reach $19.97 Billion by 2025 | Industry Research By AMR
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The catheter devices have gained significant traction in the recent years owing to significant rise in cardiovascular & urological diseases across the globe. Rise in demand for minimally invasive surgeries for the diagnosis and treatment of cardiovascular, neurological, and other diseases drive the growth of the catheters market. Further, catheter-based surgeries are minimally invasive and require shorter recovery times. Surgeries done with the help of catheters are less invasive and lead to faster recovery.
Based on product, the cardiovascular segment accounted for the majority of catheter market share of the global market in 2017. This is attributed to the significant increase in cardiovascular diseases across the globe and surge in use of these catheters for the treatment of the same. However, urological catheter segment is anticipated to exhibit prominent growth rate during the forecast period owing to the significant rise in geriatric population and use of these catheters to deal with inconsistency.
According to a new report published by Allied Market Research the global catheters market was valued at $10,703 million in 2017 and is projected to reach $19,976 million by 2025, growing at a CAGR of 8.0% from 2018 to 2025. North America was the highest revenue contributor in 2017 and is expected to remain the same throughout the forecast period.
Key Market Players:
• Boston Scientific Corporation
• Abbott Laboratories
• Becton Dickinson And Company
• Stryker Corporation
• Cook Medical
• B. Braun Melsungen AG
• Teleflex Incorporated
• Johnson & Johnson
• Medtronic Inc.
• Edwards Lifesciences Corp.
• Vascular Solutions Inc
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Key Findings of the Catheters Market:
• Based on product, the cardiovascular catheters segment accounted for nearly half share of the catheters industry in 2017.
• The urological catheters segment is anticipated to grow at the highest growth rate throughout the forecast period.
• Based on region, North America accounted for a major share of the global catheters market in 2017.
• LAMEA is anticipated to grow at the highest rate in the catheters market during the analysis period, followed by Asia-Pacific.
North America was the leading revenue contributor to the global market in 2017, owing to highly advanced healthcare infrastructure and new product launches by the key players. LAMEA is expected to witness the highest growth rate throughout the forecast period, owing to the increase in awareness among healthcare professional regarding use of catheters for the treatment and diagnosis of various disease including urological, kidney failures, and others.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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