The global Intravascular Catheters Market size is expected to reach USD 8.8 billion by 2025, according to a new report by Grand View Research, Inc., registering an 11.8% CAGR during the forecast period. Increasing number of surgical procedures requiring catheters, growing awareness about hospital-acquired infections, and increasing coverage of healthcare insurance are some of the factors contributing to the demand for intravascular catheters from 2019 to 2025. The market is also expected to be driven by increasing number of patients undergoing cardiovascular as well as urological procedures and rising incidents of trauma injuries.
Short
Peripheral Intravascular Catheters (PIVC) dominated the market with a revenue
of USD 2.8 billion in 2018, on account of lower infection risk associated with
these products. In addition, short PIVCs are preferred over other catheters due
to their quick discharge and short dwelling time. This product segment is
expected to witness lucrative CAGR between 2018 to 2025 as a consequence of
increasing concerns over catheter-associated bloodstream infections leading to
catheter colonization.
Hospitals
dominated the market on the basis of end use in 2018, with a revenue of USD 2.5
billion. The trend is likely to continue over the forecast period owing to
increase in number of surgical procedures requiring catheters, growing health
insurance coverage, and rising hospital admissions. Ambulatory Surgical Centers
(ASC) are anticipated to witness the fastest growth, with a CAGR of 13.5%
through 2025. Surgical procedures are cheaper in ASCs as compared to hospitals.
As a result, the market is expected to witness a rise in adoption of surgical
procedures in ASCs, which in turn is anticipated to drive demand for
intravascular catheters over the forecast period.
Asia
Pacific dominated the intravascular catheters market with a revenue of USD 1.2
billion in 2018, owing to high patient base, increasing investments in
healthcare infrastructure, growing insurance coverage, and availability of
reimbursements. This region is anticipated to witness lucrative growth due to
its high potential in overcoming unmet medical needs among patients suffering
from cardiovascular and urological diseases as well as trauma injuries. China
dominated the APAC market with a 23.3% revenue share in 2018 owing to high
unmet medical needs, growing awareness about hospital-acquired infections, and
increase in healthcare accessibility. Thus, a high population base with unmet
medical needs is expected to drive demand for intravascular catheters between
2018 to 2025.
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Further key findings from the report suggest:
- Asia Pacific
dominated the market in 2018 with a revenue of USD 1.2 billion, owing to
factors such as large patient base, growing awareness regarding
hospital-acquired infections, increase in healthcare access, and expanding
healthcare coverage
- U.S. is the
largest country with an incremental opportunity of USD 542.0 million from
2019 to 2025
- The
hospitals segment dominated the market by end use in 2018 owing to growing
number of surgical procedures requiring intravascular catheters and
increasing hospital admissions
- Some of the
key players in this market are Boston Scientific Corporation; C.R. Bard,
Inc.; Johnson & Johnson Services, Inc.; Abbott; Coloplast Ltd; Smith
Medical; Edwards Lifesciences Corporation; Medtronic; McKesson Medical
Surgical Inc.; and TERUMO CORPORATION.
About Us:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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