Catheters Market on Track to Achieve USD 99.30 Bn Value by 2032 with a 7.2% CAGR

The growing pervasiveness of diabetes and cancer patients drives the market demand.

NEW YORK CITY, NY, UNITED STATES, October 2, 2024 /EINPresswire.com/ -- The catheters market report entails detailed information regarding the dynamics affecting the market over the analysis period.

The latest research study by Polaris Market Research reveals that the catheters market is anticipated to flourish. The market, valued at USD 53.67 billion in 2023, is poised to grow to USD 99.30 billion by 2032 with a CAGR of 7.2% from 2024 to 2032.

Market Introduction:

A catheter is a squashy hollow tube that is advanced into the bladder to unload urine. Catheters are frequently essential for people who, for varied reasons, cannot vacate their bladder in the normal way, that is, passing urine in a toilet and urinal. Indwelling catheters are normally needed for interim for an aggregate of weeks or months when ongoing bladder drainage is required, but sometimes they are required for prolonged usage. Catheters are assembled in varied substances which indicates that they can be marooned in place for many weeks.

With a restricted potential of 300-500 ml, the bladder removes its constituents periodically about 6-10 times in 24 hours. The recurring filling and vacating of the bladder command exemplary inconsistent collaboration between the bladder and urethra, as the bladder moderates to lodge the growing magnitude of urine so that the urethra decreases to prohibit discharge and inversely when the bladder empties. The growing demand for minimally invasive surgeries in surfacing markets drives the catheters market demand.

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Who Makes Catheters?

• Abbott Laboratories
• B. Braun Melsungen AG
• Becton Dickson and Company,
• Boston Scientific Corporation
• ConvaTec Group Plc
• Cure Medical LLC
• Edward Lifesciences
• Hollister Incorporated
• Johnson & Johnson Inc.

Market Drivers and Opportunities:

• Growing Cases of Detrimental Illnesses: The growing inclination for detrimental illnesses such as diabetes, renal illness, urinary tract problems, and cardiovascular illness is escalating. Catheters play a significant part in handling and curing these conditions. With the worldwide population maturing, there is an escalating requirement for medical cures and care amidst elderly populations, which is driving the catheters market growth.

• Growing Preference for Minimally Invasive Procedures: The growing inclination for minimally invasive processes such as catheterization particularly for curing conditions such as peripheral artery disease (PAD). Patients growingly select angioplasty processes instead of conventional surgery, which aids in the growing demand for such mediation.

• Rise in Cardiovascular Illnesses: The worldwide escalation in assessment of cardiovascular illnesses is a prominent factor pushing the growth of the catheters industry. As per the American Heart Association, cardiovascular diseases were anticipated to result in approximately 19 million deaths globally in 2020. Further, it is expected that 244 million persons will have ischemic heart disease (IHD) in 2020.

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Segmental Analysis:
Catheters Product Type Outlook:
• Cardiovascular Catheters
o PTA Balloon Catheters
o Electrophysiology Catheters
o PTCA Balloon Catheters
o IVUS Catheters

• Urology Catheters
o Peritoneal Catheters
o Foley Catheters
o Intermittent Catheters
o External Catheters
o Hemodialysis Catheters

• Intravenous Catheters
o Central Venous Catheters
o Midline Peripheral Catheters
o Peripheral Catheters

• Specialty Catheters
o Thermodilution Catheters
o IUI Catheters
o Wound/Surgical Catheters
o Oximetry Catheters

• Neurovascular Catheters
Catheters Lumen Outlook:
• Single-Lumen
• Double-Lumen
• Triple-Lumen

Catheters, Material Outlook:
• Silicone Catheters
• Polyurethane Catheters
• Latex Catheters
• Others

• The catheters market segmentation is primarily based on product type, lumen, material, end-use, and region.

• By type analysis, the specialty catheters segment held the largest market share. This is because of growing cases of earmarked illnesses and a growing inclination for minimally invasive processes pushed by a pronounced number of administrative consents.

• By lumen analysis, the double-lumen segment is poised to register a significant CAGR. The segment's growth can be primarily attributed to the advantages they provide, such as productive medication dispensing, decreased requirement for vascular punctures, and coinciding approach.

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Regional Overview:
The research report covers all the major regions and sub-regions of the catheters market. The study provides market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
• North America: North America accounted for the largest market share. This is primarily because maturing population, growing incidences of detrimental illnesses, and affirmative influence on prominent manufacturers such as Boston Scientific Corporation, Medtronic, and Teleflex Incorporated on regional prosperity.

Browse PMR's Catheters Market Report Coverage from Different Publications:
The global catheters industry trends is expected to reach USD 99.30 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.2% during the forecast period (2024 - 2032).

FAQs:
What are the key segments in the catheters market?
The key segments covered in the market report are product type, lumen, material, end-use, and region.

How much is the catheters market?
The market size was valued at USD 53.67 billion in 2023.

What is the growth rate of the market?
The market is projected to grow at a CAGR of 7.2% during the forecast period, 2023-2032.

Which region held the largest market share?
North America held the largest share of the global market.

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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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