Global Catheters Market: Global Size, Market Size, Opportunities, Historical Analysis, Development Status, Business Growth and Forecast: 2022-2031
Japan, Japan, Thursday, April 14, 2022 01:48:34 / Comserve Inc. / — The global catheter market is expected to grow significantly from USD 32.17 billion in 2018 to USD 55.54 billion in 2031, with a CAGR of 8.1% from 2022-2031.
The global catheter market is expected to grow significantly from USD 32.17 billion in 2018 to USD 55.54 billion in 2031, growing at a CAGR of 8.1% from 2022 to 2031. Factors driving the growth of the market include; the increasing prevalence of urological and cardiovascular diseases across the world, rapid technological advances and the increasing density of the aging population. Moreover, the increasing demand for minimally invasive procedures and growing demand for high-quality, cost-effective products is further propelling the growth of the market.
Catheters are the most commonly used medical devices and used in a wide range of procedures such as intravenous fluid administration, dialysis, and drug administration. Additionally, 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 the catheter best suited to achieve specific goals.
However, the increase in the rate of catheter-related urinary tract infections may hamper the market growth to some extent.
Cardiovascular catheter drives demand for Global catheter market
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Catheters used in a wide range of applications in the cardiovascular, intravenous, urological and neurovascular fields, among others. The cardiovascular segment held the major share of the global market in 2031. Cardiovascular disease continues to rise and is the leading cause of death globally. Cardiac catheterization is a medical procedure used by the cardiologist to diagnose and cure heart disease. Moreover, the increasing prevalence of heart diseases, the combination of aging population and technological advancements, the demand for cardiology catheters segment is expected to increase significantly over the forecast period.
Catheters Market – Regional Overview
North America held the major share of the global catheter market in 2031. This growth is attributed to the growing prevalence of cardiology and urology diseases and increasing adoption of new technologies. Moreover, growing government initiative, increasing demand for minimally invasive surgeries and favorable reimbursement policies in the region further propel the growth of the marker.
The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with companies in the field concerned. The steps involved in the research methodology are;
Obtain historical market data based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
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Interact with key market opinion leaders and develop data points based on interaction with them
Study of past market trends and their year-over-year impact on market size and share
Analysis of collected data points
Filling in the data points to calculate the Catheters market and its various segments
Anticipate potential risks
Analyze market forces such as drivers, restraints, and opportunities to evaluate new growth areas for the Catheters market
Finalization of Global Catheters Market Size and Share
The years used for the evaluation are as follows;
Historical year: 2015, 2016 and 2017
Base year: 2018
Forecast period: 2022-2031
Classify the global Catheters Market into segments on the basis of material, product type, end-user, and region to individually analyze their growth prospects
Analyze market trends, opportunities, drivers and restraints associated with catheters
Profiling of key companies operating in the global Catheters Market
Study the market response with regards to mergers and acquisitions in the industry.
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