Rising prevalance of urinary incontinence among geriatic population, and increasing investments by healthcare companies in research development are driving market revenue growth
The global catheters market size is expected to reach USD 30.09 Billion in 2028 and register a revenue CAGR of 8.3% over the forecast period, according to latest report by Reports and Data. Catheters market revenue growth is expected to be driven by rising prevalence of various chronic diseases leading to need for surgical procedures using catheters, and increasing demand for device owing to benefits offered including high success rate in various cardiovascular procedures such as angioplasty, angiography, and balloon septostomy.
A catheter is a tube that is either inserted into the body through a narrow opening or surgically placed inside the body, and is used for several functions such as to drain fluids or pus that has collected in cavities. Catheters can also be connected to infusion pumps to administer medications and chemotherapy to cancer patients and insulin to patients with diabetes. Increasing global geriatric population, increasing rate of urinary incontinence and urinary retention issues in aged people, and rising awareness regarding benefits of catheters in treatment of these chronic conditions as well as for conducting several tests in diagnostic centers are factors boosting demand for catheters, thus, driving market revenue growth.
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The rapid adoption of AI, ML, and IoT and robust data management processes has made the hospitals and clinical settings smarter. New technologies and solutions have improved the normal medical processes such as clinical diagnosis, treatment, diseases management, and monitoring patient recovery after discharge. Rapid digitalization and increasing adoption of virtual care and telemedicine is further expected to positively impact the revenue growth of the market going ahead.
Emergence of new healthcare and telemedicine startups, increasing number of collaborations among healthcare facilities and research institutions, and rising focus on patient engagement solutions has further fueled revenue growth of the market. Key companies are forming strategic alliances and collaborative ventures such as mergers and acquisitions, joint ventures, partnerships, manufacturing and licensing agreements, and product launches among others.
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Leading Players Analyzed in the Report:
Edward Lifesciences Corporation, Boston Scientific Corporation, Teleflex Incorporated, Abbott Laboratories, Johnson Johnson Services, Medtronic Inc, B.Braun Melsungen AG, Becton, Dickinson and Company, ConvaTec Group, Stryker Corporation, Smiths Medical Inc., Cardinal Health Inc., Terumo Corporation, and Merit Medical Systems.
Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered in the report.
The report further discusses in detail the regional spread of the global Catheters market along with analysis of production and consumption patterns, import/export analysis, supply and demand ratio, market share and size based on volume and value, trends and demands, revenue share, and presence of the key players of the market.
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Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Segmentation based on Types:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Temperature Monitoring
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Long Term Care Facilities
- Diagnostic Imaging Centers
- Other End Users
Lumen Type Outlook (Revenue, USD Billion; 2018–2028)
Shape Type Outlook (Revenue, USD Billion; 2018–2028)
- Judkins Left
- Judkins Right
Application Outlook (Revenue, USD Billion; 2018–2028)
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