Catheters Market Size to Grow by USD 40.25 Billion, North America to be Largest Contributor to Industry Growth [CAGR of 8.8%]

Monday, September 19, 2022 at 9:23am UTC

Luton, Bedfordshire, United Kingdom, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Catheters Market.

The Global Catheters Market is expected to grow at more than 8.8% CAGR from 2020 to 2028. It is expected to reach above USD 40.25 billion by 2028 from a little above USD 20.5 billion in 2020.

Catheters are required for patients who are receiving general medicine. Catheter associated urinary tract infections (CAUTIs) and central line-associated bloodstream infections can occur when catheters are used often (CLABSIs). Male length catheters (typically 16 inches) Female length catheters (most often 6 to 8 inches) Pediatric length catheters (10 inches). Self-retaining catheter Urethral catheter designed to be retained in the bladder and urethra. See Foley and Indwelling Catheters. A snare catheter to remove intracardiac catheter debris, or an iatrogenically inserted stimulating electrode.

The development of innovative catheters for interventional operations is credited with the market’s rise. During the projection period, industry players will place a greater emphasis on highly precise, updated, and cost-effective catheters, boosting market growth.

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Competitive Dashboard

Aug. 30, 2022- Medtronic plc a global leader in healthcare technology, announced that it has completed the acquisition of Affera, Inc. This acquisition expands the company's cardiac ablation portfolio to include its first-ever cardiac mapping and navigation platform that encompasses a differentiated, fully integrated diagnostic, focal pulsed field and radiofrequency ablation solution.

The investigational Affera technology is designed to provide solutions for patients with cardiac arrhythmias (irregular heartbeats) such as atrial fibrillation (AF). Through this acquisition Medtronic gains the Affera Prism-1 cardiac mapping and navigation platform, which will be compatible with Medtronic and multiple, competitive therapeutic catheters and technologies. The company also adds the Sphere-9 cardiac diagnostic and ablation catheter that enables the rapid creation of detailed electro-anatomical maps and delivers radio frequency (RF) and pulsed field (PF) cardiac ablation therapies. Additional Affera pipeline products such as the Arc-10 coronary sinus (CS) diagnostic catheter and Sphere PVI ablation catheter, which is a single shot device which delivers pulsed field ablation (PFA) energy, are also included.

Growth Insights

A high prevalence rate of chronic disorders leading to hospitalization has fueled the growth of the market.

Furthermore, the growing desire of midscale catheter producers to achieve a larger market share, as well as an increase in government financing for R&D efforts, are projected to drive market expansion during the projection period. During the last three decades, chronic diseases such as cardiovascular, neurological, and urological problems have surpassed cancer as the leading cause of death and morbidity worldwide.

People with sedentary lives are more likely to develop diabetes, cardiovascular disease, urological disorders, end-stage renal disease, and other chronic illnesses. High blood pressure and diabetes are the two leading causes of chronic diseases like kidney failure. Due to the frequent use of catheters for a variety of procedures, these problems are linked to high hospitalization rates and high costs. As a result, an increase in the number of surgeries due to an increase in the number of chronic illnesses is likely to boost catheter adoption, boosting the market throughout the forecast period.

Companies in this space are actively working on strategies like technology development and increasing presence in emerging economies. Product approval and launches, acquisition, partnerships and agreements are the most widely adopted growth strategies by market players. There is moderate competition in the market as every market player is trying to get the maximum share of revenue in this growth area.

These key players include Medtronic, Teleflex Incorporated, Abbott, B. Braun Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, and Johnson & Johnson, Stryker, Cook Medical, Edwards Life Sciences Corporation, and others.

Catheters Market ScopeDiscount on report

Catheters Market
Report Coverage of Catheters MarketDetails
Base Year:2021Forecast Period:2022-20282022-2028
Historical Data:2020Market Size 20.5 billion In 2020.
Forecast Period 2022 to 2029 CAGR: 8.8%Market Size in 2028:US$ 40.25 billion
Segmentation OverviewProduct Type Segment
  • Cardiovascular Catheters
  • Urological Catheters
  • Hemodialysis catheters
  • Peritoneal dialysis catheters
  • Intravenous Catheters
  • Peripheral Catheters
  • Midline Peripheral Catheters
  • Central Venous Catheters
End User Segment
  • Hospital & clinics
  • Specialty centers
  • Ambulatory surgical centers

Regional Share Analysis->

The North America accounts for the bulk of the market share. North America shares 38% of the total market. The large share of this market is attributed to the significant rise in prevalence of diseases such as cardiovascular and urological, rise in prevalence of hospital-acquired infections (HAIs), other lifestyle-induced diseases, and a large number of target procedures performed in this region.

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Frequently Asked Questions Section

  • What will be the market growth rate for Catheters?
  • Who are the main producers in the Catheters?
  • What are the developing regions in the Catheters?
  • What are the sales, volume and price analyzes of the leading Catheters makers?
  • Who are the distributors, dealers, and dealers in the Catheters?
  • What are the Catheters opportunities and threats for vendors in the global Catheters industry?
  • What is Catheters Sales, Revenue, and Price Analysis by Type and Industry Application?
  • What are the main opportunities currently ruling the market?

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