Catheter Market predicted to be valued $85.2 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Nov. 23, 2022 /PRNewswire/ -- The global catheter market size is anticipated to reach USD 85.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 6.5% from 2022 to 2030. A rise in the number of surgeries due to increasing chronic ailments including diabetes, urological disorders, cardiovascular disorders, critical renal diseases, and other chronic conditions is steering the adoption of catheters across the world.

Key Industry Insights & Findings from the report:

• Based on product type, the cardiovascular catheters product type held the largest market share of over 28% in 2021. The surge in the prevalence of cardiovascular ailments is supplementing the adoption of interventional cardiac procedures, thereby boosting the product demand.
• Based on the distribution channel, the hospital stores distribution channel dominated the global market with a share of 53.83% in 2021. This can be attributable to the growth in hospital admission rates and a rise in surgical procedures across the world.
• North America dominated the market accruing the largest revenue share of 31.9% in 2021. The high rate of incidence of chronic conditions, paired with the availability of well-trained physicians in the region is propelling the regional market growth.

Read 170-page full market research report with TOC, "Catheter Market Size, Share & Trends Analysis Report By Product Type (Cardiovascular, Urology, Intravenous, Neurovascular, Specialty Catheters), By Distribution Channel (Hospital Stores, Retail Stores), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Catheter Market Growth & Trends

COVID-19 portrayed a positive impact on the global market. According to the National Center for Biotechnology Information (NCBI), during the early phase of the pandemic, the adoption of both Central Venous Catheters (CVC) and indwelling urinary catheters proliferated rapidly. Furthermore, several market players are introducing products such as coated urine catheters enabled with temperature monitoring for ICU patients. This provides robust protection against secondary infections, thereby creating growth opportunities for the market in the upcoming years.

The increasing technological developments play are opportunistic for market growth. For instance, miniaturized catheters and the emergence of antimicrobial catheters to limit catheter-linked infections are favoring the market growth. Medtronic's MAHURKAR Chronic Carbothane catheter is made of Carbothane, facilitating a convenient single-insertion technique and ensuring exceptional kink resistance. The catheter can attain high flow rates with low venous and arterial pressures.

The vendors in the global market are continually launching new products to expand their reach and achieve a higher market share. Also, international market players are relocating their production facilities to other countries in order to accomplish economies of scale. Additionally, numerous manufacturers in the industry are collaborating with key distributors of medical devices to supply and market their products globally or in specific countries.

Catheter Market Segmentation

Grand View Research has segmented the global catheter market based on product type, distribution channel, lumen, end-user, and region:

Catheter Market - Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiovascular Catheters
• Electrophysiology Catheters
• PTCA Balloon Catheters
• IVUS Catheters
• PTA Balloon Catheters
• Urology Catheters
• Hemodialysis Catheters
• Peritoneal Catheters
• Foley Catheters
• Intermittent Catheters
• External Catheters
• Intravenous Catheters
• Peripheral Catheters
• Midline Peripheral Catheters
• Central Venous Catheters
• Neurovascular Catheters
• Specialty Catheters
• Wound/Surgical Catheters
• Oximetry Catheters
• Thermodilution Catheters
• IUI Catheters

Catheter Market - Lumen Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Stores
• Retail Stores
• Others

Catheter Market - Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Single-lumen
• Double-lumen
• Triple-lumen

Catheter Market - End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Ambulatory Surgical Centers
• Long-term Care Facilities
• Others

Catheter Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• UAE

List of Key Players in Catheter Market

• Hollister Incorporated
• Medtronic
• Boston Scientific Corporation
• Edwards Lifesciences
• Smith Medical Inc.
• Teleflex Incorporated
• ConvaTec Group Plc
• Cure Medical LLC

Check out more related studies published by Grand View Research:

• Neurovascular Catheters Market - The global neurovascular catheters market size is anticipated to reach USD 4.83 billion by 2028, expanding at a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for minimally invasive neurosurgical procedures, rising prevalence of stroke and brain aneurysm, and technological advancements are driving the market.
• Cardiac Catheters & Guidewires Market - The global cardiac catheters & guidewires market size is anticipated to reach USD 24.92 billion by 2030, registering a CAGR of 7.56% from 2022 to 2030, according to a new report by Grand View Research, Inc. The industry is expected to grow due to the increasing geriatric population, lack of substitutes in the market, rising incidence of diabetes across the globe, and technological advancements. Diabetic patients are more prone to develop certain health conditions, such as high cholesterol, high blood pressure, heart diseases, and stroke.
• PTA Balloon Catheter Market - The global PTA balloon catheter market size is expected to reach USD 6.0 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.92% from 2022 to 2030. The increasing incidence of peripheral artery disorder and the rising number of Percutaneous Coronary Intervention (PCI) procedures in developing countries are key factors driving the market.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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