2024 Global Catheters Market Size, Share, Trends And Growth Analysis Report | Boston Scientific Corporation, Coloplast A/S, ConvaTec Group Plc, Edwards Lifesciences Corporation

"The catheters market size has grown strongly in recent years. It will grow from $29.97 billion in 2023 to $32.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to the increasing aging population, prevalence of chronic diseases, shift toward minimally invasive surgical procedures, increased awareness and treatment of urinary incontinence, and expansion of healthcare infrastructure..

The catheters market size is expected to see strong growth in the next few years. It will grow to $46.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increased use of telemedicine and remote patient monitoring, focus on personalized medicine, utilization of regenerative medicine techniques, increasing shift towards patient-centric care, and growing emphasis on sustainable and eco-friendly catheter materials. Major trends in the forecast period include integration of artificial intelligence (ai) and robotics in catheter-based procedures, development of advanced infection control technologies, technological advancements, product innovations, and adoption of iot.

Market Overview -
A catheter is a medical device that is used to remove urine or other liquids from the body. The catheters are used for different medical purposes, such as the administration of fluids, medications, or gases, or to drain fluids or urine from the body.

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Rising Prevalence Of Cardiovascular Disorders
The rising prevalence of cardiovascular disorders is expected to propel the growth of the catheters market going forward. Cardiac catheterization is a process in which a catheter is moved through a blood vessel to the heart for a better diagnosis of health conditions. The increase in the prevalence of cardiovascular diseases and the growing demand for cardiovascular treatment are expected to increase the demand for catheters. For instance, according to the May 2023 report from Center for Disease Control and Prevention, an US-based national public health agency, in 2021, the percentage of all deaths caused by heart disease was 15.5% for American Indian or Alaska Native, 18.6% for Asian, 22.6% for Black (Non-Hispanic), 18.3% for Native Hawaiian or Other Pacific Islander, 18.0% for White (Non-Hispanic), and 11.9% for Hispanic. Moreover, according to the report, approximately 697,000 people in the US died from heart disease in 2021, which converted to almost 1 in 5 deaths. Therefore, the rising prevalence of cardiovascular disorder drives the catheter market growth during forecast period.

Competitive Landscape -
Major companies operating in the catheters market include Boston Scientific Corporation, Coloplast A/S, ConvaTec Group Plc, Edwards Lifesciences Corporation, Hollister Incorporated, Johnson & Johnson, Medtronic Plc, B. Braun Melsungen AG, Terumo Corporation, Lumend Corporation, Covidien Ag, Acist Medical Systems Inc., Cook Medical Inc., Becton Dickinson and Company, Stryker Corporation, Merit Medical Systems Inc., Abbott Laboratories, Manfred Sauer GmbH, Koninklijke Philips N.V., Teleflex Incorporated, C. R. Bard Inc., Vascular Solutions Inc., Cordis Corporation, Rochester Medical Corporation, Navilyst Medical Inc., AngioDynamics Inc., Cardinal Health Inc., Fujifilm Holdings Corporation, Olympus Corporation, Penumbra Inc., Philips Healthcare, Siemens Healthineers AG, Smiths Medical Inc.

Strategic Collaborations Among Market Players
Strategic collaborations between companies are a key trend that is gaining popularity in the catheter market. Companies in the catheter market are focusing on strategic collaborations to expand their research and development activities for innovative products and improve their market share in their respective markets. For instance, in April 2022, CEMMA, a China-based advanced medical equipment company, collaborated with LipoCoat. The collaboration aims at co-creation of a central venous catheter using the bioinspired LipoCoat coating technology for long-term infection prevention. LipoCoat is a Dutch biotech company that provides catheter products.

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Key Segments -
The catheters market covered in this report is segmented -
1) By Product: Cardiovascular Catheters, Neurovascular Catheters, Urology Catheters, Intravenous Catheters, Speciality Catheters
2) By Lumen: Single-lumen, Double-lumen, Triple-lumen
3) By End User: Hospitals & Clinics, Ambulatory Surgical Centres

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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