The
global Catheter
Market size
is expected to reach USD 77.7 billion by 2026 registering a CAGR of 9.7%,
according to a new report by Grand View Research, Inc. Increasing prevalence of
chronic diseases and supportive insurance policies are some of the prime
factors boosting the market growth. Presence of multi-national manufacturers
and improving medical facilities, especially across developing regions, are
also anticipated to propel the market growth over the forecast period.
As
per the statistics published by the WHO, chronic diseases is anticipated to
contribute to 73% of all deaths and 60% of the global burden of disease by
2020. The rise in geriatric population has also led to increase in number of
hospitalizations and surgeries anticipating the market growth. Catheters have
undergone technological advancements; for instance, miniaturized products and
introduction of antimicrobial catheters to reduce associated infections. Wide
usage of minimally invasive surgeries is expected to favor the market growth.
Rising
awareness about catheters has in turn boosted their demand. In addition,
increasing number of midscale catheter manufacturers gaining a higher market
share is expected to promote the market growth. Furthermore, rise in funding by
various government bodies and medical device manufacturers for R&D will
boost the market growth. However, requirement of intensive capital for the
development of advanced devices may obstruct market development.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/catheters-market-analysis
Further key findings from the study suggest:
- The
cardiovascular product segment led the market in 2018 owing to increase in
the number of patients suffering from chronic Cardiovascular Diseases
(CVDs)
- Specialty
catheters is expected to be the fastest-growing product segment over the
forecast period due to rising prevalence of target diseases and demand for
minimally invasive procedures
- Asia Pacific
is anticipated to witness the fastest CAGR from 2019 to 2026 owing to
rising cases of kidney and cardiovascular diseases, improving medical
facilities, and supportive insurance policies
- Some of the
key companies in the global catheter market are Medtronic Plc.; Convatec
Corp.; Smiths Medical, Inc.; Boston Scientific Corp.; and Coloplast A/S
- The market
is price-sensitive with many small-, medium-, and large-scale companies.
Key companies focus on product bundling strategies
- Strategic
partnerships between the manufacturers and the healthcare establishments
intensify the market competition
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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