Catheter is a type of medical device which is a thin tube made from the high-graded material. Cather is used in the healthcare industry for delivering gases or fluids, medications to the patients. It is also used for exhausting bodily liquids like urine. It is inserted in the patient’s body for therapeutic & diagnostic purposes. Some side-effects are included fever, cloudy urine due to pus, headache, foul-smelling urine and burning of the urethra or genital area etc.
According to study, “Catheters Market Information, By Type (Cardiovascular Catheters, Specialty Catheters, Intravenous Catheters, Urinary Catheters, Neurological Catheters), By End Users (Hospitals & Clinics, Ambulatory Surgical Centers, and others)- Global Forecast till 2023” some of the major companies that are currently working in the global catheters market are Medtronic plc, Becton, Dickinson and Company, B. Braun Melsungen AG, Koninklijke Philips N.V, Boston Scientific Corporation, Abbott Laboratories, Johnson & Johnson, Stryker Corporation, Convatec Corp., Hollister Inc., ACIST Medical Systems, Terumo Corporation, Cure Medical LLC., Teleflex Incorporated, Edwards Lifesciences Corporation, Manfred Sauer GmbH, Wellspect Healthcare GmbH, Cook Medical Inc., Smiths Medical Inc., Covidien AG, Coloplast Corp., LuMend Corporation.
Based on product type, global catheters market is segmented into urology catheters, cardiovascular catheters, intravenous catheters, specialty catheters and neurovascular catheters. Urology catheters are further sub-segmented into peritoneal catheters, hemodialysis catheters, intermittent catheters, foley catheters and external catheters. Cardiovascular catheters are further sub-segmented into Percutaneous Transluminal Coronary Angioplasty (PTCA) balloon catheters, electrophysiology catheters, PTA balloon catheters, Intravascular Ultrasound (IVUS) catheters and others. Intravenous catheters are further sub-segmented into midline peripheral catheters, peripheral venous catheters (short catheters & integrated catheters) and central venous catheters. In addition, specialty catheters are further sub-segmented into oximetry catheters, wound/surgical catheters, Intrauterine Insemination (IUI) catheters and thermodilution catheters. Based on material, market is segmented into plastic, polyvinyl chloride (PVC), silicon rubber, and nylon. Based on distribution channel, market is segmented into retail stores, hospital stores and others (online stores). Additionally, based on end-use, market is segmented into ambulatory surgical centers and hospitals & clinics etc.
The catheters market is driven by rise in demand for the antimicrobial catheters, followed by growth in usage of the advanced materials in the catheters, increase in prevalence of cardiovascular, neurology, and urology disorders, rise in medical tourism, growth in frequency of minimally invasive procedures, increase in geriatric population and rapid adoption of innovative technologies such as intravascular imaging catheters. However, presence of the substitutes, inadequate quality assurance and risk of infection may impact the market. Moreover, new advancements in catheterization devices and increase in reimbursement levels are some key opportunities for market.
Based on geography, the North-American region holds major share in catheters market owing to the presence of multi-national manufacturers, followed by sophisticated healthcare infrastructure along with high product awareness levels in the region. Asia-Pacific region is expected to hold significant share due to favorable government policies and growth in product launches & approvals over the forecast period. The market is anticipated to grow at the CAGR of 6.14% during the forecast period and is expected to reach US $49,731.9 million by 2023.
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Ankur Gupta, Head Marketing & Communications