NEW YORK, May 31, 2019 (GLOBE NEWSWIRE) -- The global catheters market is expected to grow significantly from USD 32.17 Billion in 2018 to USD 55.54 Billion in 2025, at a CAGR of 8.1% from 2019 to 2025. Factors driving market growth include; rising prevalence of urological and cardiovascular diseases across the globe, rapid technological advancements, and increasing aging population density. Moreover, growing demand for minimally invasive procedures and rising demand for cost-effective high quality products are further propelling the market growth.
A catheter is a flexible tube made from medical grade materials serving a broad range of functions. Various type of material used in catheter manufacturing such as silicone, polyurethane, polyethylene, and Teflon or PTFE. Catheters are a medical device that can be inserted into the body creating a channel for the passage of fluid. Moreover, silicone and polyurethane are biocompatible in nature and are suitable for long term catheterization.
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Key findings from the report:
- The global catheters market is expected to reach USD 55.54 Billion by 2025 at a CAGR of 8.1% during 2019-2025
- Based on material, the silicone segment is expected to hold a considerable share of the market over the forecast period
- On the basis of product type, the cardiovascular catheters segment held the major share of the market in 2018. The growth is attributed to the growing prevalence of cardiovascular diseases and growing awareness among people regarding cardiovascular devices. Furthermore, technological advancement and growing demand for minimally invasive surgeries are also augmenting the segment growth.
- On the basis of end-user, the hospitals segment accounted to hold the major market share in 2018, and is anticipated to retain its dominance during 2019-2025. However, ambulatory surgical centers segment is likely to augment the highest CAGR over the forecast period.
- Geographically, North America held the major share of the global market in 2018
- Some of the key companies operating in the market include Medtronic Plc.; Boston Scientific Corporation; Cardinal Health; Terumo Medical Corp; Cook Medical Inc.; B. Braun Melsungen AG; ASAHI INTECC CO., LTD.; C. R. Bard.; TELEFLEX INCORPORATED; and NIPRO Medical Corporation, among others
The report provides the market value for the base year 2018 and a yearly forecast till 2025 in terms of revenue (USD Billion). The report segments catheters market on the basis of material, products type, end-user, and region.
By Product Type
- Cardiovascular Catheters
- IVUS Catheters
- PTA Balloons Catheters
- Electrophysiology Catheters
- PTCA Balloons Catheters
- Intravenous Catheters
- Peripheral Insertion Catheters
- Integrated Catheters
- Urology Catheters
- Indwelling (Foley) Catheter
- External Catheters
- Intermittent (Short-term) Catheter
- Specialty Catheters
- Neurovascular Catheters
- Access Catheters
- Embolization Catheters
- Balloon Catheter
- Ambulatory Surgical Centers
- North America
- Central & South America
- Middle East and Africa (MEA)
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