NEW YORK, April 11, 2016 /PRNewswire/ -- Catheter is a tubular medical device introduced into different body canals, vessels, passage ways and cavities for diagnostic or therapeutic purposes. These catheters are made of different types of polymers and inert materials, and are coated with antimicrobial and special substances to avoid infections and other complications. The catheters are used in various medical fields such as neurovascular, cardiovascular, urology and other specialty segments like nephrology, gynecology, and gastroenterology.
Catheters market is segmented on the basis of product type, materials, end-users and geography. Product type is further segmented into cardiovascular, neurovascular, urinary, intravenous, specialities. The cardiovascular segment is further subsegmented into electrophysiology catheters, balloon catheters, guiding catheters, pulmonary artery catheters, and intravascular ultrasound catheters. Neurovascular catheters are further classified into micro catheters, neuro thrombectomy catheters and neuro embolization catheters. Urinary catheters are segmented into intermittent (temporary) catheters, foley (indwelling) catheters and male external catheters. Intravenous catheters include peripheral catheters, central venous catheters, similarly specialty catheters are segmented into wound/surgical drain catheters, oximetry catheters, thermodilution catheters, gastroenterology catheters, gynaecology catheters and dialysis Catheters.
Based on materials the catheters market is segmented into silicone, polyurethane, polyethylene, teflon/ PTFE and others. End-users are segmented into hospitals, diagnostic laboratories, academic and research laboratories, ambulatory surgical centers, home healthcare providers.
Among the catheters products, the cardiovascular catheter market dominates the products market by occupying a largest share of 33.7%. At the same time, specialty catheters market is the fastest growing segment with a high single digit CAGR from 2015 to 2022. In materials, the silicone is the largest segment with 28.8% share and polyethylene are the fastest growing segment with a high single digit CAGR from 2015 to 2022. In end- users, hospitals are the largest segment as well as fastest growing segment from 2015 to 2022. Geographically, North America is the largest market, followed by Europe and Asia. The APAC region is the fastest growing region with a double digit CAGR from 2015 to 2022 presenting an array of opportunities for growth and is likely to get attention of new investors in the catheters market. Growth in the Asian market is attributed to rising prevalence of lifestyle diseases and government initiatives in establishing innovative technologies and demand for sophisticated medical services.
The catheters market is expected to grow steadily at a CAGR of XX% during 2015 to 2022. Increased life expectancy and combined with rise in aging population, growing prevalence of cardiovascular diseases, diabetes and urinary diseases, growing healthcare expenditures in developing countries and trend towards the use of single use catheters and self catheterization are the factors driving the market growth. Adoption of minimally invasive procedures, growing advent of technological advancements pertaining to catheter materials that prevent biofilm formation and developing nations like India and China catheters market are expected to offer potential opportunities.
Similarly various factors like increasing rate of Catheter Assisted-Urinary Tract Infection (CA-UTI) associated with healthcare acquired infections, high cost involved in cardiac and neurological procedures and lack of experienced and skilled professionals limit the growth of catheters global market. The threats for the catheters market include increase in pricing pressure on market players and stringent regulatory bodies.
The catheters global market is a highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares. Some of the key players of the catheters market are Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Johnson & Johnson (U.S.), B.Braun Melsungen AG (Germany), Beckton Dickinson (U.S.), C.R.Bard (U.S.), ColoPlast (Denmark), Angio Dynamics (U.S.), St. Jude Medical (U.S.) and Philips (Netherlands).
The report provides an in depth market analysis of the above mentioned segments across the following regions:
• North America
• Rest of the World (RoW)
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