Catheters Market Value to Hit $19.97 billion by 2025, at CAGR of 8.0% | Stryker Corporation, Cook Medical

Rise in demand for minimally invasive procedures, increase in geriatric population, and surge in adoption of catheters have boosted the growth of the global catheters market. However, rise in catheter-associated urinary tract infections (CAUTI) and inadequate quality assurance hamper the market growth. On the contrary, untapped potential in the emerging economies is expected to create lucrative opportunities in the near future.

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The global catheters market was pegged at $10.7 billion in 2017 and is projected to garner $19.98 billion by 2025, registering a CAGR of 8% during the period from 2018 to 2025.

COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

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The market is segmented on the basis of product and geography. Based on the product, the market is divided into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters, and specialty catheters. The cardiovascular catheters segment held the largest share in 2017, contributing more than half of the total market. However, the urological catheters segment is projected to manifest the fastest CAGR of 9.0% during the forecast period.

On the basis of geography, the market is segmented into North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA). The LAMEA region is estimated to portray the fastest CAGR of 10.7% during the study period. However, the North America region held the largest market share, contributing about two-fifths of the total market share in 2017.

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The Major Key Players Are:

• Abbott Laboratories
• Becton Dickinson And Company
• Boston Scientific Corporation
• Stryker Corporation
• Cook Medical
• B. Braun Melsungen AG
• Teleflex Incorporated
• Johnson & Johnson
• Medtronic, Inc.
• Edwards Lifesciences Corp.
• Vascular Solutions, Inc.

The other players Key Are:

• Hollister Incorporated
• Manfred Sauer
• Smiths Medical
• Wellspect Healthcare
• Cure Medical
• Convatech Inc.

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