Catheters Market to Reflect Steadfast Expansion During 2023

The global market for catheters should grow from $27.2 billion in 2018 to $34.5 billion by 2023 at a compound annual growth rate (CAGR) of 4.8% for the period of 2018-2023

Report Scope:

BCC Research analyzed the current catheter market based on (1) projections of worldwide, geographic and type of product market revenues through 2023, (2) current and historical usage, (3) geographical and socio/economic market trends and (4) new applications and products.

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The scope of this study encompasses the five major application segments of the catheter market. BCC Research analyzed each type of catheter segment, determined its current market status and examined its impact on future catheter sales. After this analysis, growth forecasts between 2018 and 2023 were projected. Catheter material analysis, regulatory issues and the latest technological trends are also covered. Other influential factors such as patents and company profiles are discussed.

Unless otherwise noted, all revenue values are in U.S. dollars at the time the research was conducted and are not adjusted for inflation.

The reviewed products in the report are not exhaustive and a number of products have been in the market for years.

Report Includes:

– 19 data tables and 52 additional tables
– Industry analysis of the global catheters’ market
– Analyses of the global market trends with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Coverage of important segments including cardiovascular, urological, neurovascular, intravenous and specialty catheters
– Study of impact analysis and discussion of technological, regulatory, and economic trends that are affecting the market
– Information on new products being introduced and their future impact on the market
– A relevant patent analysis
– Profiles of leading manufacturers and suppliers of catheters within the market including, Abbott Laboratories, Boston Scientific Corp., Hollister Inc., Medtronic and Stryker

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Summary

The global catheter market is a diverse industry with both multinational companies and smaller regional companies participating in a very competitive market.

Segments of the market covered in this report include cardiovascular, urological, neurovascular and intravenous catheters, as well as specialty products such as suction, thermodilution, oximetry catheters, anesthesia and reproductive catheters. In some areas, particularly neurovascular, some procedures would not be possible without the use of catheters.

The number of catheterization procedures performed worldwide is affected by –
– A globally aging population and its healthcare needs.
– Higher incidences of chronic diseases, such as heart disease, stroke, cancer, diabetes and obesity.
– The effects of weak economies on overall healthcare utilization rates.
– Efforts by third-party payers to lower costs associated with medical procedures.
– Investigations by governmental agencies into potential overutilization of procedures.
– The implementation by hospitals of policies designed to reduce the incidence of unnecessary procedures.
– Growing concerns over infection rates with catheter use, which is improving technologies.
– New diagnostic imaging and functional assessment modalities that more effectively screen patients to determine the need for treatment.

Worldwide demographic factors, including the growing incidence of obesity, diabetes and cardiovascular disease appear to favor long-term growth in the number of interventional procedures, prompting an overall compound annual growth rate (CAGR) of REDACTED between 2018 and 2023. The global catheter market for the covered five segments is expected to reach nearly REDACTED by 2023.

The market for catheters in medically-advanced regions such as the U.S. and Western Europe is more mature, particularly for products in the urological and intravenous areas. Growth in developed regions will be mainly due to (1) introduction of advanced catheters during the forecast period, (2) an increase in the over-65 segment of the population and (3) the continued rise in chronic diseases such as heart disease.

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