Catheters Market to hit USD 37.5 Billion by 2028, Says Global Market Insights Inc.
SELBYVILLE, Del., April 4, 2022 /PRNewswire/ -- Some of the major industry players operating in the catheters industry include Abbott Laboratories, B Braun, Boston Scientific Corporation, Coloplast, Teleflex Inc., Johnson & Johnson, and Medtronic Inc. among others.
Global catheters market value is projected to cross USD 37.5 billion by 2028, according to a new research report by Global Market Insights Inc. Various cardiovascular diseases such as coronary artery disease, congenital heart disease, heart failure, heart valve disease, and microvascular heart disease require catheterization. Catheters are one of the primary tools used in the condition of heart failure.
Additionally, more than 1 million cardiac catheterization procedures are performed every year in the U.S. Moreover, in the U.S., cardiovascular disease is one of the leading causes of mobility and mortality, especially due to heart failure and ischemic heart disease. Various government initiatives have been taken to create awareness about these cardiovascular diseases and catheterization procedures to cure them.
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Catheters market from intravenous catheters segment is expected to witness 10.3% CAGR from 2022 to 2028. Technological advancements in intravenous catheters is set to drive the business landscape. Increasing adoption of intravenous catheterization procedures by various healthcare professionals is predicted to surge the product adoption rate in the near future. Peripheral intravenous catheters are used globally for almost every hospitalized patient resulting in procedural standardization and risk reduction. The increasing use of intravenous catheters in the treatment of chronic illnesses such as cardiac, neurology, and urology problems is slated to fuel market expansion.
Some major findings of the catheters market report include:
- Technological advancements in catheters have reduced the risk of infection, thereby increasing the adoption rate of catheters in various hospitals and ambulatory surgical centers is anticipated to augment the business expansion.
- Rising prevalence of cardiovascular disorders coupled with strategies to improve and increase catheterization procedures for chronic disease treatment across the globe is driving the market demand.
- Competitors are emphasizing on strategic collaborations, partnerships, and product launches to garner significant market share and improve their market position.
Browse key industry insights spread across 483 pages with 1,055 market data tables & 16 figures & charts from the report, "Catheters Market Forecasts By Product (Vascular Catheters {Cardiovascular Catheters [Electrophysiology Catheters, PTCA Balloon Catheters, IVUS Catheters, PTA Balloon Catheters], Neurovascular Catheters}, Urology Catheters {Dialysis Catheters [Hemodialysis Catheters, Peritoneal Catheters], Urinary Catheters [Indwelling Catheters, Intermittent Catheters, External Catheters]}, Intravenous Catheters {Midline Peripheral Catheters, Peripherally Inserted Central Catheters, Central Venous Catheters}, Specialty Catheters {Wound Catheters, Oximetry Catheters, Thermodilution Catheters}), Lumen (Single-Lumen, Double-Lumen, Triple-Lumen), End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022– 2028" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/catheters-market
Catheters market from triple-lumen segment is estimated to expand at 9.4% CAGR through 2028. This is attributed to the increasing adoption of triple-lumen catheters at various hospitals and ambulatory surgical centers. Triple lumen catheters have three infusion channels that helps to administer multiple therapies simultaneously. These catheters are widely used during cardiac treatment for measuring cardiovascular pressure and hemodialysis.
Additionally, they are used for administration of hyperosmolar solutions as well as blood administration among others. Several market players are emphasizing on research and development activities along with manufacturing technological advanced triple lumen catheters to gain a competitive advantage in the catheters business.
Hospital segment is set to exceed USD 20,588 million by 2028. This is owing to the advanced diagnostics & treatment services, easy access to quality treatment for chronic and acute diseases, reliability & availability of skilled professionals contributing to an increased preference towards hospitals. The rise in Catheterization or Cath lab, which is a room for minimally invasive tests and procedures, in a hospital setting where procedures such as cardiac catheterization takes place, has provided impetus to the segment demand.
China catheters market is poised to reach USD 3,034 million by 2028. The high prevalence of chronic diseases such as, neurovascular disorders, cardiovascular diseases, urinary ailments, and COPD along with the rapidly aging population is augmenting the demand for adoption of catheters in China. Moreover, the older population is relatively at higher risk of cardiovascular diseases and urologic complications. Thus, the afore-mentioned factors will propel the regional market revenue.
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Some of the major players operating in the catheters industry are Abbott Laboratories, B Braun, Boston Scientific Corporation, Coloplast, ConvaTec Inc., Merit Medical Systems, Edwards Life Sciences Corporation, Hollister Incorporated, Johnson and Johnson, Manfred Sauer, Medtronic Inc., Smiths Medical, Stryker Corporation, Teleflex Inc. and Wellspect Healthcare.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
SOURCE Global Market Insights Inc.
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