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Catheters Market to Reach US$33.3 Billion in 2017

Posted on Feb 02, 2015

Transparency Market Research, U.S.-based intelligence firm recently published a report titled “Catheters Market - Global and China Forecast, Share, Size, and Industry Analysis (2010 - 2017)”.  The report states that the global catheters market was valued at US$20.4 billion in 2011 and is expected to reach US$33.3 billion in 2017, growing at a CAGR of 8.5% from 2011 to 2017.

 

Browse the full Global  Catheters Market (Urological, Specialty, Neurovascular, Intravenous and Cardiovascular Catheters) - Global and China Forecast, Share, Size, and Industry Analysis (2010 - 2017) report at https://www.transparencymarketresearch.com/catheters-market.html

 

As millions of people are being diagnosed with cardiovascular, urinary, and other diseases that demand incision procedures, it is fuelling the global catheter market. Obesity is another factor influencing the increasing application of the global catheter market, as it often leads to coronary diseases. Statistics showed there were around 43 million children below the age of five who were overweight n 2010. This number is only likely to increase as we continue making poor lifestyle choices and lead extremely stressful lives.

 

The global catheters market is segmented as per types and geographies. The type segment is inclusive of cardiovascular catheters, neurovascular catheters, intravenous catheters, urological catheters, and specialty catheters. Geographically, the global catheters market is segmented on the basis of North America, Europe, Asia Pacific, China, and Rest of the World. The biggest market share in the global catheters market is held by the cardiovascular catheter segment. As of 2011, it held about 40% of the entire market. The cardiovascular catheter is further sub-segmented into interventional, percutaneous coronary artery (PTCA), arthectomy, ablation electrophysiology, diagnostic, cardiac angiography, and peripheral angiography. This segment is witnessing a huge demand due to technological advancements to improve the operation and catheter insertion ability by making the procedure simple. The new and improved catheters are reducing the errors, which are also motivating doctors to adopt these devices.

 

The second largest segment in the global catheters market is the specialty catheter segment. However, the urological catheter market is showing signs of growth at a CAGR of 11.1% from 2010 to 2017. The growth in the urological catheter market is attributable to increasing occurrences of urological problems and aging population across the globe. The primary growth drivers for the urological catheters market are good quality of devices and advanced catheterization methods. Developing better catheters that reduce the risk of infection, increasing the durability of these devices, and cutting down on malfunction rate are some incredible opportunities for manufacturers to work on.

 

The global catheter market is expected to witness further rise as more and more manufacturers are shifting towards materials such as polyurethane/polycarbonate derivatives like carbothane. Materials such as these offer greater strength while maintaining high degrees of softness for the patient’s comfort, minimal invasion, and bigger internal diameter. Addressing catheter-related issues such as thrombosis by designing advanced devices will largely determine the future of the global catheter market.


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