Catheters Market is Estimated to Witness High Growth Owing to...

Catheters Market is Estimated to Witness High Growth Owing to Increasing Incidences of Chronic Diseases

Posted 2024-09-09 11:00:00

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Catheters are thin tubes used to deliver fluids, medications, or gases into the body or drain bodily fluids and Waste from it. Catheters are commonly used for patients undergoing prolonged fluid administration, delivery of irritant medications and drainage of urine. The growing geriatric population and increasing incidences of chronic diseases have augmented the demand for catheters globally.

The Global catheters market is estimated to be valued at US$ 61.91 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 To 2031.

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.

The Catheters Market Size rising prevalence of urinary incontinence and urinary retention disorders are expected to open new growth avenues for catheter manufacturers. Furthermore, growing popularity of intermittent catheters among spinal cord injury patients are creating lucrative opportunities in the market.

The favorable reimbursement policies for catheter insertion procedures in developed regions and growing healthcare infrastructure in emerging economies will aid the expansion of global catheters market during the forecast period.

Market drivers

The Catheters Market Size And Trends is one of the major drivers of the catheters market. Around 25% of the global population will be aged 60 years and above by 2050. The aged population is more susceptible to chronic diseases like urinary tract infections, cardiovascular diseases, and respiratory diseases which require frequent usage of catheters. Thus, the rising aging demographics fuel the demand for catheters.

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