The growing target patient population and the rising focus on minimally invasive surgical procedures over conventional surgery are the major factors driving the growth of this market.
The Catheters Market is projected to Reach USD 24.2 Billion by 2025, at a CAGR of 8.7% from 2020 to 2025
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Market Segmentations:-
On the basis of type, the global catheters market is segmented broadly into cardiovascular, urological, intravenous, neurovascular, and specialty catheters. Cardiovascular catheters commanded the largest share of the catheters market in 2019 and are expected to grow at the highest CAGR during the forecast period.
Based on end user, the catheters market is segmented into hospitals, long-term care facilities, diagnostic imaging centers, and other end users. In 2019, hospitals were the largest end users of catheters. This segment is expected to grow at the highest CAGR, majorly due to the high volume of target procedures performed in hospitals.
Recent Developments:-
- In 2019, Boston Scientific Corporation acquired BTG plc. (UK). This acquisition expanded Boston Scientific’s product offerings for minimally invasive procedures targeting cancer and vascular diseases, as well as specialty pharmaceuticals.
- In 2019, Medtronic launched Telescope Guide Extension Catheter.
- In 2018, Becton, Dickinson and Company (BD) acquired TVA Medical, Inc. (US). The acquisition strengthened BD’s product portfolio with the addition of dialysis catheters, drug-coated balloons, standard angioplasty balloons, and endovascular stent graft products from TVA Medical.
Regional Analysis:-
The catheters market has been divided into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). North America accounted for the largest share of the global catheters market in 2019.
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Top Key Players:-
The prominent players operating in this market include Medtronic (Ireland), Edwards Lifesciences Corporation (US), Teleflex Incorporated (US), Abbott (US), B. Braun Melsungen AG (Germany), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), ConvaTec Group (UK), Coloplast (Denmark), Johnson & Johnson Services (US), Terumo Corporation (Japan), Hollister Incorporated (US), Stryker (US), Cook Medical (US), and Merit Medical Systems (US).
