Catheters Market Size Is Expected to Exhibit a CAGR of 6.14% By 2023

Catheters Market Size, Trends and Growth Analysis By Type (Cardiovascular Catheters, Specialty Catheters, Intravenous Catheters, Urinary Catheters, Neurological Catheters), By End Users (Hospitals & Clinics, Ambulatory Surgical Centers, and others)- Global Forecast till 2023

Catheters Market Overview

The global catheters market is estimated to leverage a CAGR of 6.14% while gaining USD 49,731.9 million in revenues by 2023. The increased hospitalization rates around the world are projected to add to the development of the global market in the forecast period. The medical device reports are made by Market Research Future, which includes market options for expansion.

The elevated necessity to drain bodily fluids such as urine in the course of a hospital stay is indispensable, and this is foreseen to promote the catheter market share. Moreover, the surge in transplant cases is anticipated to further the catheter market size in the approaching period.

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Catheters Market Segmental Analysis

The segmental investigation of the catheters market has been conducted on the basis of types, regions and end-users. Based on the end-users, the catheters market is segmented into ambulatory surgical centres and hospitals & clinics. Based on the region, the catheters market is segmented into North America, Asia Pacific, Europe and other considerable regional markets. On the basis of types, the catheters market is segmented into neurological catheters, speciality catheters, intravenous catheters, cardiovascular catheters, urinary catheters, and others.

Catheters Market Regional Analysis

The regional assessment of the catheters market is carried out on the regional markets of North America, Asia Pacific, Europe and other considerable regional markets. The Americas catheters market controls the global market due to the existence of massive population suffering from obesity, diabetes, and cardiovascular diseases. The North American catheters market holds the principal market stake of the Americas regional market. The European catheters market is the next prime market, followed by the regional market of the Asia Pacific.

The incidence of a strong healthcare sector, robust government backing for research & development and elevated healthcare spending have motivated the development of the European region’s catheters market. The Asia Pacific catheters market is also perceiving swift progress in this market, which is primarily due to quickly growing diabetic & obese residents and escalating healthcare expenses. The Middle Eastern and African region hold the minimum segment of the catheters market due to meagre political circumstances in Africa and restricted access to funds and medical services.

Catheters Market Competitive Analysis

The market is estimated to exhibit a resurgent phase of development in the impending period. The market is also foreseen to take significant strides to achieve major digital investments in areas such as AI engineering and distributed cloud. The unprecedented socioeconomic challenges are estimated to have a noticeable effect on the global market in the duration of the forecast period. The incorporation of digitalized processes in businesses is predicted to spur the market in the impending period.

The organizations are likely to improve their response time and reaction to crisis considerably in the upcoming years regarding the current situation created by the global pandemic. The stimulating effect of analytics to business value is estimated to encourage innovation and more strategically plans in the forthcoming period. The impact of automation is estimated to trickle to virtually every area of business operations and fostering the development of the global market in the forecast years. The gradual growth in the bottom-line results is estimated to be conducive to the market players plans’ for the future.

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The distinguished contenders in the catheter market are Terumo Corporation, Boston Scientific Corporation, Koninklijke Philips N.V, Abbott, Medtronic plc, Becton, Dickinson and Company, LuMend Corporation (US), ACIST Medical Systems (US), Covidien AG (Ireland), B. Braun Melsungen AG, and Cook Medical Inc. (US).

Catheters Industry Updates:

Oct 2020 Johnson & Johnson Medical Devices Companies have recently announced that the US Food and Drug Administration (FDA) has given approval to Biosense Webster’s Thermocool Smarttouch SF ablation catheter for the therapy of persistent atrial fibrillation (AF).

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Market Research Future

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This release was published on openPR.