Boston, MA, March 16, 2016 --(PR.com
)-- This report analyzes the catheters global market in terms of market revenue ($ million) for all segments and it enables catheters manufacturers, catheters product distributors and wholesalers, Hospitals and ASC’s (Ambulatory Surgical Centers), OEM (Original Equipment Manufacturers)/Contract manufacturers, Group Purchasing Organizations (GPOs) and other associated stake holders to identify and analyze market expansion opportunities, upcoming technologies, technological developments, competition in catheters global market.
The catheters are narrow tubular medical devices that are inserted into the body (body cavity, duct or blood vessels) through a narrow opening for the purpose of therapeutic or diagnostic applications such as for performing surgeries or to treat diseases especially for draining and administering fluids. The process of insertion of a catheter is called catheterization. These devices are manufactured using various types of polymers such as silicone rubber, nitinol, nylon, polyurethane, polyethylene terephthalate, latex and thermoplastic elastomers. Among these, silicone is the most commonly used material due to its inertness as it does not react with body fluids and other medical fluids. Catheters come in different lengths and sizes for men, women and children. The demand for effective therapy that delivers satisfactory results yet costing less, combined with advancements in technology such as customizable catheters, catheter based imaging driving the catheter global market growth. The use of catheters can be seen in cardiology, urology, neurosciences, intravenous and during special procedures. According to IQ4I estimates, the catheters global market is expected to reach $38,112 million by 2022.
Factors, such as, increasing life expectancy combined with aging population, prevalence of lifestyle diseases such as cardiovascular diseases, diabetes and urinary diseases, growing healthcare expenditures in developing countries and trend towards single use catheters & self catheterization are driving growth in catheters market. Opportunities for growth in this market can be explored by expanding operations in emerging markets of China and India, development of minimally invasive procedures and innovations in new manufacturing materials for of catheters.
The catheter market is mainly segmented by products, materials, end-users and geography. The catheters global market by products is classified into cardiovascular catheters, neurovascular catheters, urology catheters, intravenous catheters and specialty catheters. In 2015, cardiovascular catheters occupied the highest share of 33.7% and specialty catheters is expected to be the fastest growing segment with a high single digit CAGR from 2015 to 2022. Based on materials the market is segmented into silicone, polyurethane, polyethylene, teflon/PTFE and others (nitinol, nylon). End-users include hospitals, home healthcare providers, ambulatory surgical centres, diagnostic laboratories and academic and research laboratories. Finally, the catheters market is classified by geographical regions into North America, Europe, Asia-pacific and Rest of the World.
North American region commanded largest market revenue in 2015 followed by Europe. High investments in healthcare infrastructures and demand for quality services in this market are propelling the market growth. However, Asia-pacific region is expected to grow at the high double digit CAGR from 2015 to 2022 due to, increased healthcare awareness, improved economic growth and increasing healthcare funding by the governments. Significant mergers and acquisitions, collaborations, joint ventures are some of the industry trends that are playing a major role for the market growth.
Major players in catheters market include, Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Johnson & Johnson (U.S.), Teleflex Incorporated (U.S.), B.Braun Melsungen AG (Germany), Becton Dickinson and Company (U.S.), C.R. Bard (U.S.), Coloplast (Denmark), AngioDynamics, Inc. (U.S.), St.Jude Medical (U.S.) and Philips (Netherlands).