The global centesis catheters market is projected to reach USD 633 million by 2025 from USD 426 million in 2019, growing at a CAGR of 6.8% from 2019 to 2025
NEW YORK, June 3, 2020 /PRNewswire/ --
Global centesis catheters market is projected to grow at a CAGR of 6.8%
The global centesis catheters market is projected to reach USD 633 million by 2025 from USD 426 million in 2019, growing at a CAGR of 6.8% from 2019 to 2025. The key factors driving the growth of this market include the rising target patient population (particularly patients suffering from cancer, TB, and cardiovascular diseases), growing preference for image-guided centesis procedures, and the increasing evidence for the efficacy of centesis procedures for target diseases. However, premium product pricing and medical complexities associated with centesis procedures are some of the major factors that are expected to restrain the growth of this market in the coming years.
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Small-bore centesis catheters segment to grow at the highest rate during the forecast period
Based on type, the centesis catheters market is segmented into small-bore and large-bore centesis catheters.The small-bore centesis catheters segment accounted for the largest share of this market in 2018.
The large share of this segment can be attributed to the wide availability of small-bore centesis catheters, growing number of target procedures that require small-bore centesis catheters, increasing evidence of the efficacy and safety of small-bore centesis catheters over large-bore centesis catheters, and their higher adoption in diagnostic centesis procedures.
Paracentesis procedures segment accounted for the largest share of the centesis catheters market, by procedure, in 2018
Based on procedure, the centesis catheters market is segmented into paracentesis, thoracentesis, arthrocentesis, amniocentesis, and other procedures.The rising incidence of target conditions such as gastrointestinal malignancies, liver cirrhosis, cystic fibrosis, intestinal tuberculosis, chronic liver failure, formation of cysts in the peritoneal cavity, and serious forms of hepatitis is expected to drive the growth of paracentesis market segment in the coming years.
This segment accounted for the largest share of this market in 2018.
Hospitals are estimated to from the largest end-user segment in the centesis catheters market
Based on end user, the global centesis catheters market has been segmented into hospitals, ambulatory surgical centers, and other end users.The hospitals segment accounted for the largest share of the market in 2018.
This is because the majority of centesis procedures are performed in hospitals owing to the risks involved in these procedures. Furthermore, the higher patient preference for hospital-based care for target disease conditions such as gastrointestinal malignancies, liver cirrhosis, cystic fibrosis, intestinal tuberculosis, chronic liver failure, peritonitis, and pleural effusion are contributing to the growth of this market segment.
Asia Pacific market to witness the highest growth during the forecast period
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the presence of a large patient pool, increasing incidence and prevalence of target diseases, improving healthcare infrastructure in Asian countries, and the favorable government initiatives for improving access to healthcare.
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1–45%, Tier 2–34%, and Tier 3–21%
• By Designation: C-level–10%, Director-level–14%, and Others–76%
• By Region: North America–31%, Europe–33%, APAC–19%, and RoW–17%
The key players operating in the global centesis catheters market are AngioDynamics, Inc. (US), ARGON MEDICAL (US), Avanos Medical Devices (US), Axiom Medical, Inc. (US), B. Braun Melsungen AG (Germany), Becton, Dickinson and Company (US), Blue Neem Medical Devices Pvt. Ltd. (India), Boston Scientific Corporation (US), Canadian Hospital Specialties Ltd. (Canada), Cardinal Health (US), Cook Medical (US), Galt Medical Corp. (US), Guangzhou Leadgem Medical Device Co., Ltd. (China), KM Medical (US), Medical Components, Inc. (US), Medtronic (Ireland), Merit Medical Systems (US), Mermaid Medical A/S (Denmark), MoFlo Medical Technology Co., Ltd. (China), Neuromedex GmbH (Germany), Ningbo Honde Medical Instruments Co., Ltd. (China), PFM Medical, Inc. (US), Polymedicure (India), REDAX (Italy), Rocket Medical plc. (UK), Romsons (India), Smiths Medical (US), Teleflex Incorporated (US), UreSil, LLC (US), and Utah Medical Products, Inc. (US).
Research Coverage
This report studies the centesis catheters market based on type, procedure, application, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It analyzes opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of market segments with respect to four main regions (and the respective countries in these regions).
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market shares of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the centesis catheters market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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