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.
Catheters are most commonly used medical devices and employed in a wide range of procedures such as administration of intravenous fluids, dialysis, and drug delivery. Moreover, in order to maximize the effectiveness of a catheter for a particular application, various medical device manufacturers are increasingly turning to simulation to develop and design catheter best suit for achieving specific objects.
However, increasing rate of catheter-associated urinary tract infections may hamper the market growth to some extent.
Cardiovascular Catheter Drive the Demand for the Global Catheters Market
Catheters used across a wide range of applications in cardiovascular, intravenous, urology, and neurovascular among others. The cardiovascular segment held the major share of the global market in 2018. Cardiovascular diseases continue to rise and itis the leading cause of death across the globe. Cardiac catheterization is a medical procedure that cardiologist, used to diagnose and cure heart diseases. Moreover, rising prevalence of cardiac diseases, combination of aging of the population, and technological advancements, the demand for cardiology catheter segment is expected to increase significantly over the forecast period.
Catheters Market – Regional insight
North America held the major share of the global catheters market in 2018. The growth is attributed to the increasing prevalence of cardiology and urology diseases and growing adoption of new technologies. Moreover, growing government initiative, growing demand for minimal invasive surgeries, and favorable reimbursement policies in the region are further propelling the marker growth.
The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
The years used for the assessment are as follows;