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.
India catheters market is estimated to account for US$ 1,623.7 Mn in terms of value by the end of 2027.
India Catheters Market: Drivers
Increasing prevalence of cancer is expected to propel growth of India catheters market over the forecast period. For instance, according to the study, ‘Trends in thyroid cancer incidence in India’, published in May 2018 in the Journal of Clinical Oncology, the incidence rate of thyroid cancer in India in women increased from 2.4 to 3.9 and in men from 0.9 to 1.3, a relative increase of 62% and 48% respectively during 2004/05 to 2013/14.
India Catheters Market: Opportunities
Increasing preterm birth-rate is expected to offer lucrative growth opportunities for players in India catheters market. For instance, according to the World Health Organization’s February 2018 factsheet, India topped the list of 10 countries with the greatest number of preterm births with 3,519,100 preterm births.
India Catheters Market: Restraints
Risks of the cardiac catheterization procedure such as air embolism, bleeding, heart attack, infection, and kidney damage are expected to hinder growth of India catheters market.
India catheters market was valued at US$ 466.5 Mn in 2019 and is forecast to reach a value of US$ 1,623.7 Mn by 2027 at a CAGR of 16.9% between 2020 and 2027. Increasing prevalence of cancer is expected to propel growth of India catheters market over the forecast period.
Cardiovascular Catheter segment held dominant position in India catheters market in 2019, accounting for 46.7% share in terms of value, increasing prevalence of cardiovascular disorders is expected to propel the segment growth during the forecasted period
Major players in India catheters market are focused on adopting M&A strategies to expand their product portfolio. For instance, in January 2020, AngioDynamics acquired C3 Wave PICC tip location system from Medical Components Inc. The wireless technology eliminates the need for a confirmatory chest x-ray of peripherally inserted central catheters tip placement.
Major players in the market are also focused on raising funds to expand their product portfolio. For instance, in September 2019, Access Vascular raised US$ 6 million from new and existing investors for the HyrdoPICC device it developed.
India Catheters Market: Competitive Landscape
Major players operating in India catheters market include, Abbott Laboratories, Teleflex Incorporation (Arrow International, Inc.), Boston Scientific Corporation, Coloplast A/S, Edwards Lifesciences Corporation, Johnson & Johnson, Medtronic, Inc., Rochester Medical Corporation, and B. Braun Medical.
India 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
October 2019: AngioDynamics signed a US$ 66 million deal to acquire Eximo Medical, which includes US$ 46 million upfront plus up to an additional US$ 20 million in technical and sales-based milestones
Scope of the report