According to the report published by Allied Market Research, the global Catheters Market was estimated at $22.7 billion in 2021 and is expected to hit $49.5 billion by 2031, registering a CAGR of 8.1% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Rise in the prevalence of cardiovascular diseases along with surge in demand for minimally invasive surgeries drive the growth of the global catheters market. At the same time, rise in geriatric population base across the world and increase in demand for sterile & disposable catheters supplement the market growth even more. Moreover, development of new catheters by a large number of key players is anticipated to create lucrative opportunities in the industry.
Covid-19 scenario-
A lot of treatment & diagnostic procedures and surgical course of action got delayed throughout the Covid-19 pandemic, which led to declined demand for catheters, thus impacting the market negatively.
However, the market has already got back to its previous stance.
The global catheters market is analyzed across product type and region. Based on product type, the cardiovascular catheters segment contributed to more than one-third of the total market revenue in 2021, and is projected to lead the trail by 2031. The urological catheters segment, on the other hand, would exhibit the fastest CAGR of 9.0% during the forecast period.
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Based on region, the market across North America held the major share in 2021, garnering more than two-fifths of the global market. Asia-Pacific, simultaneously, would manifest the fastest CAGR of 11.9% throughout the forecast period.
The key market players analyzed in the global catheters market report include Becton Dickinson And Company, Boston Scientific Corporation, Abbott Laboratories, Teleflex Incorporated, Johnson & Johnson, Medtronic, Inc., Edwards Lifesciences Corporation, Stryker Corporation, B. Braun Melsungen AG, and Cook Medical. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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