A catheter is a medical devices that can be inserted in the body to treat diseases or perform a surgical procedure. It is used in administration of intravenous fluids, medication or parenteral nutrition. There are three main types of catheters: indwelling catheters, external catheters, and short-term catheters.
Global and China catheters market is estimated to account for US$ 57.1 Bn in terms of value by the end of 2027.
Global and China Catheters Market: Drivers
Increasing adoption of cardiac catheterization is expected to propel growth of the global and China catheters market over the forecast period. For instance, according to American Heart Association 2019 Heart Disease and Stroke Statistics, 1,016,000 cardiac catheterizations and 3,244 heart transplants were performed in the U.S. in 2014 and 2017, respectively.
Global and China Catheters Market: Restraints
Use of Foley catheter may lead to urinary tract infection (UTI), which is expected to hinder growth of the global and China catheters market. For instance, according to the study “Prevalence of Bacterial Urinary Tract Infections and Associated Factors among Patients Attending Hospitals in Bushenyi District, Uganda”, published in February 2019, the prevalence of UTI was 32.2% among the study.
The global and China catheters market was valued at US$ 38.7 Bn in 2019 and is forecast to reach a value of US$ 57.1 Bn by 2027 at a CAGR of 4.9% between 2020 and 2027. Increasing number of cardiac catheterization is expected to propel growth of the market during the forecast period.
Urology Catheters segment held dominant position in the global and China catheters market in 2019, accounting for 39.2% share in terms of value, followed by cardiovascular catheter and Intravenous Catheters, respectively. The growth of the segment is attributed to increasing product launch during the forecast period.
Increasing prevalence of coronary artery disease is expected to propel demand for cardiac catheters. For instance, according to American Heart Association 2019 Heart Disease and Stroke Statistics, coronary events are expected to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events in the U.S. in 2019.
Technological advancements related to catheters are expected to propel growth of the global and China catheters market. For instance, in March 2020, InventHelp, a leading inventor service firm, announced development of VAGISHIELD, a catheter barrier that facilitates the placement of Foley catheters to prevent them from inadvertently entering the vagina.
Global and China Catheters Market: Competitive Landscape
Major players operating in the global and China catheters market include, Cordis (Cardinal Health), Abbott Laboratories, B. BRAUN, Medtronic plc, Terumo, Teleflex Corporation, C. R. Bard, Inc., RIST Neurovascular, Inc., Edwards Lifesciences, Cook Medical Incorporated, Merit Medical, Biotronik, St. Jude Medical, BALT, Osypka AG, Japan Lifeline, ACT, Lepu, Microport, SCW Medicath, Boston Scientific Corporation, Coloplast A/S, Convatec Group PLC, C.R. Bard, Inc., Medtronic PLC, Dentsply, Bactiguard, Hollister Incorporated, Pacific Hospital Supply Co. Ltd., Rochester Medical Corporation, Fuqing Medical, Medsuyun, Songhang, Sanli, Chensheng Medical, Haiou Medical, CATHETRIX, and World Medical.
Global and China Catheters Market: Key Developments
March 2020: Hollister Incorporated announced that the company does not anticipate any impact to its ability to supply ostomy or intermittent catheter products due to the spread of COVID-19
May 2019: Medtronic plc launched the Telescope Guide Extension Catheter, a newly designed catheter used to provide additional backup support and access to distal lesions
Scope of the report