Catheters Market to Reach US$55.98 Billion by 2025
According to the report, the cardiovascular catheters market is projected to reach US$ 55.98 Bn in 2025 at a CAGR of 7.4% from 2017 to 2025.
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The cardiovascular segment is further segmented into electrophysiology catheters, PTCA balloon catheters, IVUS catheters, PTA balloon catheters and others. The others segment of the cardiovascular catheters includes angiography catheters, guiding catheters and pulmonary artery catheters. The cardiovascular catheters segment is the highest contributing segment in terms of revenue for the growth of global catheters market. PTCA balloon catheters are also growing significantly due to the rising incidences of coronary heart diseases globally. According to WHO, an estimated 7.4 million people died due to coronary heart disease and 6.7 million were due to stroke in 2015 globally.
Urology catheters is the second largest segment contributing highly for the growth of global catheters market. The urology catheter segment is further segmented into hemodialysis catheters, peritoneal catheters, foley catheters, intermittent catheters and external catheters. The foley catheters dominates the urology catheters segment in terms of revenue, followed by the intermittent catheters and then hemodialysis catheters. The rise in the number of geriatric population which suffers from a wide range of urinary disorders, especially urinary incontinence and urinary retention is increasing globally. Moreover, catheter-associated urinary tract infections (CAUTIs) have become a major cause of concern for health care providers and professionals across the world, which is also increasing demand of technologically advanced urinary catheters globally, especially in developed economies such as the U.S. and Europe.
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The intravenous catheters segment is segmented into peripheral catheters, midline peripheral catheters and central venous catheters. Intravenous catheters are used to administer parenteral nutrition, drugs, blood products, and intravenous fluids during illness and also in routine elective procedures. There has been a noticeable rise in the number of cancer patients, patients with renal impairment, diabetes and obesity. Target pool of patients undergoing hemodialysis, peritoneal dialysis, and chemotherapy has been on a consistent rise. Hence, this segment is expected to grow at a constant CAGR.
Neurovascular catheters are used to diagnose and treat neurovascular complications with minimally invasive micro catheters and access catheters. Cerebrovascular disease or stroke are treated with neurovascular catheters. Neurovascular diseases have an effect on network of blood vessels in the brain which give rise to potentially fatal conditions such as aneurysms and strokes. Here comes the role of neurovascular catheters, by using minimally invasive approaches neurovascular catheters are used for diagnosis and treatment of such conditions. Around 6 million Americans are affected by cerebral aneurysms alone annually. Specialty catheter are used for inflammations and categorized as oximetry catheters, wound drainage catheters, suction catheters, and thermo dilution catheters. Wound drainage catheters are designed for goal of drain liquids and semisolids from an otherwise closed wound.
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Based on end users, the global catheters market is segmented into hospitals, ambulatory surgical centers, dialysis centers and others. The hospital segment is the major contributing segment for the growth of the global catheters market. Increasing number of hospital facility across globe with the aim to provide high quality services at affordable cost is driving the growth the hospital segment. The ambulatory surgical segment is the second largest segment contributing for the growth of the global catheters market. Ambulatory surgical centers are well established in developed countries of North America and Europe. The dialysis centers are highly concentrated in the countries of Asia Pacific.
Major players operating in the global catheters market are Abbott Laboratories, Becton, Dickinson and Company, B. Braun Melsungen AG, C. R. Bard, Inc., Medtronic plc. Boston Scientific Corporation, Teleflex Incorporated, JOHNSON & JOHNSON, Cook Group Incorporated, Cardinal Health, Inc.(Cordis Corporation) and others.
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