Catheters Market : Cardiovascular Catheters Enjoy Dominant Share In Global And China Market

Catheters Market: Snapshot

The scope of application of catheters has been consistently growing in the healthcare industry and currently, these medical devices have become an integral part of diagnostics and treatment. The rising incidence of various chronic diseases, cardiovascular and urological ailments, and diabetes has greatly propelled the demand for catheters across the industry. The global and China catheters market is slated to witness steady growth over the coming years owing to the rising usage of these devices in a host of surgical and diagnostic procedures. The opportunity in the global catheters market is poised to be worth US$33.3 bn by 2017, registering a healthy growth rate during the forecast period.

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However, the increasing incidence of catheter-associated infections threatens to stifle market growth. Nevertheless, rising investments in product development to curb such infections and introduce safer and superior quality products is sure to offer immense scope to those looking to invest in the global and China catheters market.

Cardiovascular Catheters Enjoy Dominant Share in Global and China Market

Catheters are of various types: cardiovascular, intravenous, specialty, neurovascular, and urological. Cardiovascular catheters accounted for a significant share in the overall market and have been witnessing rising uptake in recent years owing to an alarming increase in the incidence of various cardiovascular diseases such as coronary heart disease, rheumatic heart disease, cerebrovascular disease, congenital heart disease, deep vein thrombosis, and peripheral arterial disease. According to the World Health Organization, over 17 million people died from some or the other form of cardiovascular ailment in 2012 alone. Recent developments in interventional cardiology, including the development of advanced cardiovascular catheters, has supported the growth of this segment.

The urological catheters segment also holds a prominent share in the catheters market in China and around the world. The rising prevalence of urinary incontinence and various other urinary disorders is the primary factor driving the demand for and consumption of urological catheters. The segment is also fueled by the increasing demand for minimally-invasive procedures and a rising number of patients undergoing prostate or genital surgery.

China Emerges as Major Contributor in Global Catheters Market

The global catheters market is geographically segmented into Europe, North America, Asia Pacific, China, and the Rest of the World. North America has accounted for the leading share over the years and the region is likely to hold a dominant position throughout the forecast period. High patient awareness levels and increased healthcare expenditure are the primary factors boosting the uptake of catheters for various medical procedures carried out in the region. In addition to this, the availability of well-established and sophisticated medical infrastructure has supported the growth of the catheters market in North America.

Asia Pacific is also a prominent market for catheters and is poised to expand at a strong pace over the coming years. The ongoing improvement in healthcare infrastructure and the growth of medical tourism across several developing economies have contributed toward the expansion of this market.

China has been a key market for catheters not just in Asia Pacific but across the globe as well. Factors driving the uptake of catheters in the country include a high rate of ailments that require catheterization, such as urinary incontinence and kidney failure, a massive geriatric population, major improvements in healthcare infrastructure, and rise in healthcare spending.

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Some of the prominent names in the global and China catheters market are Boston Scientific Corporation, Abbott Laboratories, Arrow International, Inc., Johnson & Johnson, Rochester Medical Corporation, Medtronic, Inc., Edwards Lifesciences Corporation, Coloplast A/S, and Smiths Medical. The competitive landscape of the catheters market is quite consolidated in nature and is dominated by large global players. Innovation in product development is one of the most successful strategies adopted by these companies to garner a larger share in the overall market. Product launches, collaborations, and investments in R&D have also proven to be effective expansion strategies.

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This release was published on openPR.