The latest report by IMARC Group, titled “Catheters Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global catheters market exhibited strong growth during 2015-2020. A catheter is a medical device used to administer medications, fluids or gases to patients or drain or collect bodily fluids, such as urine, from the bladder. It is generally inserted into a body cavity, duct, or blood vessel. A catheter is usually recommended by healthcare providers to patients suffering from urinary incontinence and retention, or undergoing surgery on the prostate or genitals, and other medical conditions such as multiple sclerosis, spinal cord injury, or dementia. Nowadays, catheters are available in different sizes, materials (latex, Teflon and silicone), and types.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Catheters Market Trends:
?The increasing cases of urological disorders and chronic ailments have increased the adoption rate of catheters, thus driving the market. Besides this, rising awareness regarding minimally invasive (MI) surgeries is also catalyzing the product demand across the globe. Furthermore, there has been extensive investments in research and development (R&D) activities to develop innovative devices. For instance, market players are introducing antimicrobial catheters to reduce catheter-associated infections. Moreover, with the outbreak of coronavirus disease (COVID-19), there has been an increased number of in-patient admissions. This has led to the mounting use of catheters in hospitals and emergency clinics. Some of the other factors impelling the market growth are improving medical facilities, advancements in technology and supportive government initiatives. Looking forward, the market is projected to grow at a CAGR of around 7% during the forecast period (2021-2026).
- Based on the product type, the market has been segmented into cardiovascular, urology, intravenous, neurovascular, specialty and other catheters.
- On the basis of the end user, the market has been segregated into hospitals and clinics, ambulatory surgical centers and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Abbott Laboratories, B. Braun Melsungen AG, Becton Dickinson and Company, Boston Scientific Corporation, Coloplast Corporation, ConvaTec Group PLC, Edwards Lifesciences Corporation, Hollister Incorporated, Johnson & Johnson International LLC, Medtronic plc, Stryker Corporation and Teleflex Incorporated.
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