Global Catheters and Bands Market Huge Growth Opportunity between 2014-2024

The catheters and bands market in India, Sri Lanka, Bangladesh, and Nepal is expected to generate a revenue of $96.5 million by 2024, advancing at a CAGR of 6.6% in coming years, the market is driven by rising prevalence of cardiovascular diseases (CVDs), increasing government initiatives to raise awareness on CVDs, and improving healthcare infrastructure, across India, Sri Lanka, Bangladesh, and Nepal, according to P&S Intelligence.

into therapeutic and diagnostic catheters. The therapeutic catheters are anticipated to be larger and the faster growing category, propelling at a CAGR of 8.4% during the forecast period. Due to increase in the prevalence of CVDs, the demand for therapeutic catheters has risen considerably, as compared to diagnostic catheters.

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On the basis of application, the catheters and bands market in India, Sri Lanka, Bangladesh, and Nepal is categorized into acute coronary syndrome, pre-operative coronary assessment, coronary evaluation, pulmonary hypertension, peripheral arterial disease, bradycardia, and others. Application of catheters and bands to treat acute coronary syndrome is expected to constitute the largest demand in the market. The market for this category is mainly driven by the increasing prevalence of acute coronary syndrome in India, Sri Lanka, Bangladesh, and Nepal.

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The catheters and bands market in West India is estimated to generate a revenue of $10.7 million in 2018, which is expected to statistically increase up to $17.5 million by 2024, with a CAGR of 8.4%, during the forecast period. Increasing government initiatives are expected to contribute to the growth of the market in this region. For instance, the government of Gujarat launched a healthcare scheme to provide primary healthcare assistance to elderly people at their doorstep in 2018. The plan only charges one-time registration fee of $15 and provides all basic health facilities at their doorstep.

Similarly, in March 2018, Smiths Group plc launched Delta Med SpA's DeltaVen in the U.S., which is now also used in India. The closed-system catheter is viewed as the next advancement in peripheral intravenous catheters. It offers a needle and extension tubing, and also has an option for a needleless connecter.

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This release was published on openPR.