The new report by Expert Market Research titled, ‘Global Catheter Market Report and Forecast 2021-2026’, gives an in-depth analysis of global catheter market, assessing the market based on product type and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
The demand for catheters is driven mainly by the increase of the target patient population and an increase in concentration on minimally invasive operations over conventional operations. But the growth of this market throughout the foreseeable period will not be reduced through product failures and recalls, negative fiscal policies and trade obstacles. The global catheter market is driven by a significantly higher prevalence of chronic diseases like cardiovascular diseases, urinary bladder diseases, renal failure, and others.
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Industry Definition and Major Segments
Catheters are small pipe-sized materials that are put into the bodies of patients for therapeutic and diagnostic use, such as plastic, silicon rubs, polyvinyl chloride (PVC), and nylon. Catheterization is a primary co-operation, with different treatments including angioplasty, electrocardiology, and neuro-chirurgy in which catheters are utilized.
The catheter market can be divided based on its products as:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The cardiovascular market was dominated by electrophysiology catheters. It is believed that these increases in the prevalence of atrial fibrillation (AF) and the expanding elderly population are responsible for this increase. Catheter use in the treatment of urinary disorders is predicted to expand at the fastest pace, because of the growth in incontinence problems associated with an increase in the elderly population around the world.
North America leads the market, followed by Europe. In addition, the region has a well-established healthcare system and hospitals have invested in upgrading and expanding operating capabilities. While the US and European catheter markets are saturated, the APAC market is likely to rise rapidly in the next few years. This market sector is predicted to develop at the fastest rate due to favourable regulatory and government backing, lower manufacturing costs, increased competition in emerging nations, and rising healthcare expenditures.
The major players in the market are Abbott Laboratories [NYSE: ABT], B. Braun Melsungen AG, Becton Dickinson and Company, Boston Scientific Corporation, Johnson & Johnson, Edwards Lifesciences Corporation, Teleflex Incorporated and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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