Detail analysis of Global Catheters Market with respect to region specific market growth and competitive analysis on the basis of major players present in the market. Detail analysis on possible segments and sub segments of the market. Along with this regional analysis of the market which includes North America, Europe, Asia Pacific and Middle East and Africa. Forecast till 2023
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The global catheters market is expected to grow at a CAGR of 6.14% during the forecast period 2017-2023. Catheters, a thin tube like medical devices inserted into a body cavity, duct, or vessel. They are used in drainage, administration of fluids or gases, and also to perform a wide variety of other tasks depending on the type of catheter. Increasing prevalence of the patients cardiac and urological diseases have increased the demand for the catheters. To increase the market demand, many manufacturers are trying to introduce the new and advanced types of catheters. The global catheter market is majorly driven by increasing prevalence of cardiac & urological diseases, increasing preference for minimal invasive therapy, and increasing geriatric population. Additionally, changing lifestyle and rising healthcare spending have spurred the growth of the market. However, long time for approval, and risk of infection may slow the growth of the market over the review period.
Some of the major players in this market are Boston Scientific Corporation, Koninklijke Philips N.V, Abbott, Medtronic plc, B. Braun Melsungen AG, Becton, Dickinson and Company, Terumo Corporation, LuMend Corporation (US), Covidien AG (Ireland), ACIST Medical Systems (US), and Cook Medical Inc. (US).
The global catheters market has been segmented on the basis of types and end users.
On the basis of types, the market is segmented into cardiovascular catheters, specialty catheters, intravenous catheters, urinary catheters, neurological catheters, and others.
On the basis of the end users, the market is segmented into hospitals & clinics, ambulatory surgical centers, and others.
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Considering the global scenario of the market, America dominates the global catheters market owing to the presence of huge population suffering from diabetes, obesity, and cardiovascular diseases. North America holds the largest market share of the American catheters market. According to the report published by Centers for Disease Control and Prevention, in 2015, over 9.3% of the total American population is suffering from diabetes. According to Centers for Disease Control and Prevention, in 2015, over 610,000 people died of heart disease in the US. Additionally, increasing healthcare expenditure, and well-developed technology has fuelled the growth of the market.
Europe is the second largest market for the catheters, which is followed by Asia Pacific. Presence of well-developed healthcare sector, strong government support for research & development and high healthcare expenditure have driven the growth of the Europe catheters market. Regionally, Europe is divided into Germany, France, the U.K., Italy, Spain, and Rest of Western Europe. Germany, the U.K., and France are the major contributor to the Europe market. Well-developed technologies in this countries have played a predominant role in the development of the market in Europe. However, Eastern Europe is the fastest growing region due to the huge opportunities in the untapped market.
Asia Pacific is also witnessing a rapid growth in this market, which is mainly due to rapidly increasing diabetic & obese population and rising healthcare expenditure. According to the WHO, 60% of world’s total diabetic population lives in Asia Pacific region. Additionally, the presence of rapidly developing economies like India and China will fuel the market growth.
The Middle East & Africa hold the least share of the market due to poor political conditions in Africa and limited availability of funds and availability of medical facilities. The Middle East holds the major share of the Middle East & African market due to the presence of well-developed countries like Kuwait, Qatar, Oman and South Arabia. Whereas, African region is expecting a healthy growth due to the presence of huge opportunity for the development of the market.
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