According to a newly published report by Research Nester on “Global Catheters Market Outlook: Industry Insights & Opportunity Assessment 2019–2027” delivers detailed overview of the global catheters market in terms of market segmentation by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
In the past few decades, urology, cardiovascular and neurology diseases have become the most dominant cause of mortality and morbidity. Rising cases of diabetes, cardiovascular disorders (CVDs), urology disorders, end- stage renal disease (ESRD) and other chronic conditions due to sedentary lifestyle. Due to increasing prevalence of chronic diseases the number of surgeries performed are also increasing. Rising prevalence of chronic diseases is expected to boost the growth of the global catheters market. Rise in funding by various government bodies and medical devices manufacturers for research and development activities is estimated to boost the growth of the global catheters market with a CAGR of 8.5% over the period 2019-2027.
The global catheters market is segmented by product, distribution channel and end use. By product, the cardiovascular catheters segment is anticipated to have maximum growth on account of rise in cardiovascular diseases, increase in the prevalence of heart and related diseases, expanding awareness of available cardiac devices, rise in demand for minimal invasive surgeries and government initiatives for the improvement of healthcare facilities.
The cardiovascular catheters segments is divided into electrophysiology, PTCA Balloon, Intravascular Ultrasound (IVUS) and PTA Balloon. Urology catheters segment is divided into hemodialysis, peritoneal, foley, intermittent and external. Intravenous catheters are divided into peripheral, midline peripheral and central venous.
Further, specialty catheters are divided into wound/ surgical, oximetry, thermodilution and intrauterine insemination (IUI). The distribution channel segment is divided into hospital stores, retail stores and others. Further, the end use segment is divided into hospitals, ambulatory surgical centers and others.
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Rising Awareness about the Product to Boost the Demand for Catheters in the Future
The global catheters market is thriving on the back of increasing awareness about catheters and the number of midscale catheter manufacturers.
Increasing number of surgeries performed– With increasing prevalence of chronic diseases, the number of catheter surgeries performed are also increasing.
North America is expected to grow at a high rate on the back of rising prevalence of cardiovascular diseases, increasing incidence of obesity, lifestyle patterns and unhealthy dietary habits and increasing geriatric population coupled with rising demand for minimally invasive procedures. Europe is expected to witness robust growth owing to growing geriatric population, increasing prevalence of diseases such as urinary disorders, neurovascular diseases and cardiac diseases and rising adoption of advanced healthcare products as well as healthcare facilities. Asia Pacific is expected to grow at a significant rate attributing to presence of population suffering from kidney and cardiovascular problems, improving medical facilities, introduction of favorable government policies and market innovations.
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