Japan, Japan, Thu, 14 Apr 2022 01:48:34 / Comserve Inc. / -- The global catheters market is expected to grow significantly from USD 32.17 Billion in 2018 to USD 55.54 Billion in 2031, at a CAGR of 8.1% from 2022-2031.
The global catheters market is expected to grow significantly from USD 32.17 Billion in 2018 to USD 55.54 Billion in 2031, at a CAGR of 8.1% from 2022-2031. Factors driving market growth include; rising prevalence of urological and cardiovascular diseases across the globe, rapid technological advancements, and increasing aging population density. Moreover, growing demand for minimally invasive procedures and rising demand for cost-effective high quality products are further propelling the market growth.
Catheters are most commonly used medical devices and employed in a wide range of procedures such as administration of intravenous fluids, dialysis, and drug delivery. Moreover, in order to maximize the effectiveness of a catheter for a particular application, various medical device manufacturers are increasingly turning to simulation to develop and design catheter best suit for achieving specific objects.
However, increasing rate of catheter-associated urinary tract infections may hamper the market growth to some extent.
Cardiovascular Catheter Drive the Demand for the Global Catheters Market
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Catheters used across a wide range of applications in cardiovascular, intravenous, urology, and neurovascular among others. The cardiovascular segment held the major share of the global market in 2031. Cardiovascular diseases continue to rise and itis the leading cause of death across the globe. Cardiac catheterization is a medical procedure that cardiologist, used to diagnose and cure heart diseases. Moreover, rising prevalence of cardiac diseases, combination of aging of the population, and technological advancements, the demand for cardiology catheter segment is expected to increase significantly over the forecast period.
Catheters Market – Regional insight
North America held the major share of the global catheters market in 2031. The growth is attributed to the increasing prevalence of cardiology and urology diseases and growing adoption of new technologies. Moreover, growing government initiative, growing demand for minimal invasive surgeries, and favorable reimbursement policies in the region are further propelling the marker growth.
The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
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Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the catheters market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the catheters market
Finalizing the overall size and share for the global catheters market
The years used for the assessment are as follows;
Historical year : 2015, 2016 and 2017
Base year : 2018
Forecast period: 2022-2031
To classify global catheters market into segments on the basis of material, product type, end-user and region to analyze their growth prospects individually
To analyze market trends, opportunities, drivers and restraints associated with catheters
Profiling key companies operating in the global catheters market
To study market response with respect to the mergers and acquisitions in the industry.
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