Catheter Market Size Worth $74.84 Billion By 2028 | CAGR: 6.4%: Grand View Research, Inc.

SAN FRANCISCO, Jan. 13, 2021 /PRNewswire/ -- The global catheter market size is anticipated to reach USD 74.84 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2021 to 2028. The increasing prevalence of chronic diseases and improving medical facilities are some of the prime attributes boosting the market growth. Moreover, the rapidly growing geriatric population base has led to increased hospitalization rates and surgeries, which is anticipated to boost the market growth.

Key suggestions from the report:

• On the basis of product type, the cardiovascular catheters segment dominated the market in 2020 with a share of 28.03% owing to the rise in the prevalence of cardiovascular disorders which, in turn, is increasing the demand for the interventional cardiac procedures
• Based on distribution channel, the hospital stores segment dominated the market in 2020 with a share of 53.83% owing to an increase in the number of hospital admission rates and an upsurge in surgical procedures globally
• North America dominated the market with a revenue share of 32.05% in 2020 owing to the high incidence rate of chronic disorders as well as the availability of highly skilled physicians in this region

Read 140 page research report with ToC on "Catheter Market Size, Share & Trends Analysis Report By Product Type (Cardiovascular, Specialty), By Distribution Channel (Hospital Stores, Retail Stores), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/catheters-market-analysis

The rise in the prevalence of various chronic disorders, such as cardiovascular disorders, urology disorders, strokes, and other chronic conditions, is expected to increase the demand and use of catheters in medical settings. As per the WHO, every year, 41 million people die due to chronic illnesses, which accounts for 71% of all deaths globally and 60% of the global burden of disease in 2020. Thus, with the rise in these diseases, the use of catheters is bound to increase over the study period. Moreover, an increasing number of people in developing countries of APAC and Latin America are suffering from diabetes owing to factors, such as sedentary lifestyle and dietary irregularities. This, in turn, is expected to boost the use of catheters in medical settings.

Technological advancements play a crucial role in driving the catheters market. For instance, the introduction of miniaturized and antimicrobial catheters to reduce catheter-associated infections is expected to favor the market growth. For instance, Teleflex introduced Arrow acute hemodialysis catheters based on ARROWg+ard Antimicrobial Technology, which is known for its broad-spectrum of antimicrobial protection.

Grand View Research has segmented the global catheters market on the basis of product type, distribution channel, and region:

• Catheter Product Type Outlook (Revenue, USD Million, 2016 - 2028)
• Cardiovascular
• Urology
• Intravenous
• Neurovascular
• Specialty
• Catheter Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
• Hospitals Stores
• Retail Stores
• Others
• Catheter Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Catheter Market

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

Find more research reports on Medical Devices Industry, by Grand View Research:

• PTA Balloon Catheter Market – The global PTA Balloon Catheter Market size was valued at USD 2.4 billion in 2018 and is expected to register a CAGR of 10.1% over the forecast period.
• Urinary Catheters Market – The global urinary catheters market size was valued at USD 4.65 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028.
• End Stage Renal Disease Market – The global end stage renal disease market size was valued at USD 74.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.7% from 2021 to 2028.

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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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