Catheters Market : Industry Outlook and Trend Analysis
The Catheters Market was worth USD 8.36 billion in 2014 and is expected to reach approximately USD 17.35 billion by 2023, while registering itself at a compound annual growth rate CAGR of 8.45% during the forecast period. Catheters have been an integral part of the healthcare industry for ages and are likely to remain so for the foreseeable future. Manufacturers are racing against each other to improve product differentiation and scope of utility of their products to outshine in the global catheters market. Catheters form an inseparable part of diagnostics and treatment of the millions of patients that are suffering from chronic diseases, diabetes, cardiovascular diseases, and all urinary diseases.
The catheter is a thin sterilized tube made from medical grade materials and can offer a broad range of medical conditions. Catheters can also be inserted into a body cavity, duct or vessel for drainage, administration of fluids or gasses. Catheters used to access for surgical instruments and also to perform a wide variety of other tasks depending upon the type of catheter.
Drivers and Restrains
The interest for catheters is relied upon to stay high in the coming years. Improvement and commercialization of different kinds of catheters for an extensive variety of uses has fundamentally moved the worldwide market as of late. Catheterization is an essential methodology before performing significant medical procedures. In this way, developing rates of cardiovascular maladies, kidney issue, and urinary tract methods, and expanding interest for insignificantly obtrusive medical procedures has definitely spiked the interest for catheters in the on-going years. Developing geriatric populace is additionally anticipated to be a fundamental factor in driving the interest for catheters sooner rather than later.
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Regional Outlook and Trend Analysis
North America is expected to witness considerable growth over the forecast period. This regional section will be driven by the entrenched human services foundation in the area. This has certainly increased the quantity of catheterization techniques; accordingly help the provincial market’s income profit. Europe is anticipated to take after North America’s lead in the coming years. The developing pool of geriatrics, high occurrences of way of life issue, and gigantic mechanical headways and acknowledgment of the same are relied upon to keep these two local markets propelled all through the figure time frame.
The leading players in the market are Abbott Laboratories, Dickinson and Company, Becton, C. R. Bard, Inc., B. Braun Melsungen AG, Medtronic plc, Teleflex Incorporated, JOHNSON and JOHNSON and others. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Catheters Market is segmented as follows-
By Product Type:
By End User:
Ambulatory Surgical Centre
Other End Users
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
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