Segmentation

  • By mode of end-users, the global catheters market has been segmented intoambulatory surgical centers, hospitals & clinics, and others. Among these, the hospitals segment is considered to dominate the global market as they the primary users of catheters. Hospitals arelikely to continue to maintain their dominanceowing to the increasing number of government and private-run hospitals. Moreover, the efforts taken by the government in order to reduce the hospital-related expenditure are also considered to influence the market growth.
  • The global catheters market has been segmented on the basis of type, end-users, and region.
  • By mode of type, the global catheters market has been segmented into specialty catheters, cardiovascular catheters, urinary catheters, intravenous catheters, neurological catheters, and others. Among these, the demand for cardiovascular catheters is considered to remain the highest owing to the high prevalence of cardiovascular diseases coupled with the growing number of surgeries.

Market Outlook

Preference of minimally invasive treatments due to errors during surgeries is expected to spur the demand for catheters. The surge noticed in diabetics as well as the geriatric populace due to sedentary lifestyles can be a particular influence on the market.But concerns of risk due to use of catheters can impede the market growth.Catheters are medical devices inserted into the human body during treatment of diseases. It is also used in pre-, post-, and during surgical procedures. Modification of catheters by changing the type of material used in its manufacture can extend its application for ophthalmic, neurological, cardiovascular, gastrointestinal, and urological procedures. The global catheters market report by Market Research Future (MRFR) contains opportunities, trends, drivers, and restraints and an analysis at regional and country levels.

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Acknowledging the exponential traction, the market perceives currently Market Research Future (MRFR) in its recently published study report asserts that the global Catheters Market is estimated to reach USD 78.5 billion by 2030 at 8.30% CAGR through the forecast period 2022-2030. The increasing prevalence of chronic diseases will positively impact the growth of the catheters market. Major trends in the Catheters market include technological advancements, consistent investment in research and development activities and the upsurge in acquisitions and mergers.On the other hand, the associated risk of weakened materials that can cause fractures which increases the total cost of surgery can hamper the market growth. Also, pain and swelling during insertion and withdrawal of catheters and the discomfort associated with its use coupled with the hospital acquired infections due to catheter use these factors are expected to hamper the market growth.

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  • Industry News

Citrus Pharmaceuticals Inc., a prominent U.S. company, has received approval from the U.S. Food and Drug Administration (FDA) to extend the endpoint for its clinical trial. The trial proposed to demonstrate the disinfection of colonized catheters using bacteremias from Mino-Lok therapy (MLT) to antibiotic lock therapy (ALT).

 Regional Analysis

The APAC region is deemed to display an exemplary growth rate during the assessment period due to increasing cases of kidney disorders, reimbursement policies, and improving healthcare infrastructure. According to the World Health Organization (WHO), nearly 60% of the diabetic population lives in the region, widening the scope of the global catheters market by a huge degree. Lastly, the MEA region can contribute to a smaller degree to the overall market revenue due to lack of funding and low availability of medical facilities.

Europe, the Middle East & Africa (MEA), Asia Pacific (APAC), and the Americas are regions covered in the catheters market report.

The Americas are touted to reach a valuation of USD 16,638.8 million by 2023. Sophisticated healthcare infrastructure and availability of all types of catheters due to presence of major manufacturers can drive the market growth.

Europe is the second largest market after the Americas. Presence of a well-established healthcare ecosystem, strong government support in research and development, and high healthcare expenditure are factors fueling the regional demand for catheters. Europe is studied by bifurcating into Eastern and Western Europe, among which Eastern Europe can exhibit the fastest growth rate during the forecast timespan.

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