MRFR offers a Phenomenal Analysis of Global Catheter Market by Segmentation, Regional Analysis, Top Companies, Scope, and Applications. Covering North America, Europe, Asia Pacific, Middle East and Africa. And It Is Incorporated On Marketresearchfuture.Com With 80 Pages.
Increasing Spending in the Healthcare Sector to Drive the Global Catheter Market:
A catheter is a soft-thin tube that is used as a medical device for different purposes. It is made up of high-graded materials and is primarily passed into the bladder to allow urine to drain freely. It is also used in the healthcare sector to deliver various medications, fluids, or gases into the patient. It is particularly used for urinary purposes as it’s highly necessary for individuals who, for varying reasons, are not able to empty their bladder in the usual manner. These are even inserted into the body to treat different diseases and while performing surgeries. There are different types of catheters available in the market, including specialty catheters, cardiovascular catheters, urinary catheters, intravenous catheters, and neurological catheters. The wide variety of catheters are used for treating a number of diseases like urology, cardiovascular, neurovascular, and many more. The increasing percentage of people affected with cardiac and urological diseases have driven the market growth of catheters. As per the recently published report by Market Research Future (MRFR), the global catheter market is forecasted to grow at a CAGR of 6.14% during the review period of 2017- 2023.
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It is revealed in the report, the market for catheters is driven by the growing prevalence of urological & cardiac diseases, increasing geriatric population, and the growing preference for minimally invasive therapies. In addition to these, the rising spending in healthcare and changing consumer lifestyle have imparted a positive influence on the growth of the market. Manufacturers are trying to come up with new and advanced catheter types to supplement the market demand for catheters. However, the risk of infection and the long-time consumed in the approval process can hinder the global market growth of catheters over the forecast period.
Koninklijke Philips N.V, LuMend Corporation, Becton, B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical Inc., Dickinson and Company, Terumo Corporation, Medtronic plc, Abbott, ACIST Medical Systems, and Covidien AG.
January 30th, 2019, a leading manufacturer of polymer extrusion and an innovator in material science innovation, Zeus Industrial Products, Inc. announced the launch of its latest polymer-based solution that will highly benefit medical device manufacturers.
February 14th, 2019, Safe Medical Design mentioned in a press release that the FDA has approved its Signal Catheter for commercial use in the US. This is said to be a monumental shift as the product promises to hold the potential of protecting patients from unnecessary pain and various other complications.
The catheter market is segmented by type and end-users.
By type, the market segments into specialty catheters, neurological catheters, cardiovascular catheters, urinary catheters, intravenous catheters, and others. Cardiovascular catheters enjoy close to half of the market share, followed by specialty and intravenous catheters.
By end-users, the market includes ambulatory surgical centers hospitals & clinics, and others.
The geographical segmentation of any market is of utmost importance to understand the global presence and demand of the product. Herein, the market comprises of America, Europe, Middle East & Africa, and Asia-Pacific.
America dominates the standings in terms of market share due to the presence of a vast population suffering from obesity, diabetes, and cardiovascular diseases. Moreover, well-established technologies and increasing expenditures in healthcare have also proliferated the market growth in this region.
Europe is the second biggest market dominator for catheters. Herein, the presence of an established and developed healthcare sector, favorable government support for R&D purposes, and a high healthcare expenditure have driven the growth of the regional market. Countries like the UK, France, and Germany are the biggest contributors to the European market. The Eastern Europe region is anticipated to be the fastest growing market due to the untapped potential that lies therein.
Asia-Pacific region is also experiencing significant growth, primarily due to the fast-paced diabetic & obese population and surging expenditures in healthcare. The presence of developing economies like India and China is expected to ameliorate the catheter market in the Asia-Pacific region.
The Middle East & Africa region holds the least percentage of market share in the global geographical segmentation of the catheter market. This is due to the poor political situation in Africa and lack of funds and established medical facilities.
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