Overview and Scope
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.
Sizing and Forecast
The catheters market size has grown strongly in recent years. It will grow from <b>$29.97 billion in 2023 to $32.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. </b> 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 <b>$46.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. </b> 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.
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Segmentation & Regional Insights
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
<b>North America</b> was the largest region in the catheters market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the catheters market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the catheters market include <b> 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. </b>
The catheters market report table of contents includes:
- Executive Summary
- Catheters Market Characteristics
- Catheters Market Trends And Strategies
- Catheters Market – Macro Economic Scenario
- Global Catheters Market Size and Growth
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- Global Catheters Market Competitive Benchmarking
- Global Catheters Market Competitive Dashboard
- Key Mergers And Acquisitions In The Catheters Market
- Catheters Market Future Outlook and Potential Analysis
- Appendix
Top Major Players:
Boston Scientific Corporation
Coloplast A/S
ConvaTec Group PLC
Edwards Lifesciences Corporation
Hollister Incorporated
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