Catheters play a vital role in medical procedures performed by hospitals and diagnostic centers. These medical devices enable administration of drugs, fluids and other substances inside the bodies of patients. They are also commonly used for drainage of urine from the bladder and assist in procedures like angioplasty and endoscopy. Rising healthcare expenditure, growing geriatric population and increasing prevalence of chronic diseases like cardiovascular disorders, diabetes and cancer has augmented the demand for catheters over the years.

The Global Catheters Market is estimated to be valued at US$ 54.68 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the Catheters market are Medtronic, ConvaTec, Inc., Smith Medical (Smith Group Plc.), Boston Scientific Corporation, Hollister Incorporated, and Edwards Lifesciences Corporation, among others. These major players account for a substantial share of the market. Key players are focusing on new product innovations, mergers and acquisitions to strengthen their market presence.

The key opportunities in the catheters market include increased adoption of advanced catheters like Foley catheters and central venous catheters that aid complex surgery and catheterization procedures. Growth of medical tourism especially in developing nations is facilitating the global expansion of catheter player. Major companies are expanding their production units and distribution networks across Asia Pacific and Latin America.

Market drivers include rising burden of chronic diseases, growing preference for minimally invasive surgeries and large geriatric population base. However, risks of infections associated with catheter use and stringent regulatory approval process are some of the factors restraining the market growth.

Market drivers:
- Rising prevalence of chronic diseases like diabetes, cardiovascular diseases and cancer has increased the demand for catheters as they are commonly used for drainage of urine, delivery of drugs and aid complex surgeries.
- Growing geriatric population globally is also augmenting the market growth as elderly are more prone to chronic diseases requiring catheterization procedures. It is estimated that number of people aged 65 years and above will reach 1.5 billion by 2050.

Market restraints:
- Catheters pose risk of infections if not inserted or handled properly. Catheter-associated urinary tract infections are common and add to the healthcare burden. This influences the purchasing decisions of hospitals and patients.
- Stringent regulatory norms and lengthy approval process associated with catheters delay the launch of new and advanced catheters impacting revenue growth of market players.


Segment Analysis
The catheters market can be segmented based on product type, indication, end-user and geography. Based on product type, the market is segmented into cardiovascular catheters, urology catheters, intravenous catheters, neurovascular catheters and specialty catheters. Among these, cardiovascular catheters dominate the market as cardiovascular diseases leading cause of mortality worldwide. Cardiovascular catheters held maximum share in 2021 owing to rise in usage of cardiovascular catheters for procedures including angiography, angioplasty and others.

Based on indication, the market is categorized into urological, cardiovascular, neurovascular and specialty. The cardiovascular segment held largest share owing to increasing prevalence of cardiovascular condition and rise in usage of interventional procedure. The urological segment also holds significant share as urological catheters are most common and widely used for procedures including dialysis.

Global Analysis
On the basis of region, the global catheters market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market and held maximum share in 2021 owing to developed healthcare infrastructure, high adoption of technologically advanced catheters and presence of key players in the region. Asia Pacific is projected to grow at fastest CAGR during the forecast period owing to growing medical tourism, rising healthcare expenditure and huge patient pool for target conditions in emerging countries like India and China.

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