Allied Market Research published a report on the catheters sector, which offers industry dynamics, including growth drivers, opportunities, and challenges. This report provides a competitive landscape for the sector. The global Catheters Market is expected to reach $49.5 billion by 2031, with a CAGR of 8.1% from 2022 to 2031. The market was valued at $22.7 billion in 2021.
A catheter is a thin, flexible tube inserted into the body to treat diseases or during surgical procedures. It is used in urology, cardiovascular, neurovascular, ophthalmic, or specialty procedures. Catheters are produced from medical grade materials and serve a wide range of functions in medical treatments.
Factors such as rise in incidence of cardiovascular diseases and chronic diseases related to kidney failure, bladder issues, and others are expected to drive the catheters market. In addition, surge in geriatric population and rise in demand for minimally invasive procedures boost the demand for catheters. However, the deteriorating quality of catheters is a major cause of concern in the catheters market. To overcome this, key players are investing in R&D to develop new and advanced catheters. Rise in product approvals for these catheters is expected to be opportunistic for the market growth
Important questions
What are the key factors driving the growth of this industry?
Which companies are the leading players in the domain?
Which region holds the largest share of the catheters market?
What are the factors that restrain the growth of the sector?
What is the dominating segment based on product?
On the basis of region, North America dominates the catheters sector owing to early diagnosis, rise in product launches and product approvals by key players in the developed countries in the region. Furthermore, rise in geriatric population, advancements in technology, and rise in investments in healthcare infrastructure and techniques are expected to further boost the growth of catheters in the region.
Asia-Pacific is expected to witness the highest growth and present lucrative opportunities for the players operating in the catheters market owing to an increase in incidence of cardiovascular and neurological diseases. In addition, its high population base, rise in prevalence of kidney failure cases, and increase in urinary bladder cancer in the region are expected to further fuel the growth of the catheter market.
Key benefits for stakeholders
The report offers an in-depth analysis of market segments, prevailing trends, forecasts, and dynamics within the global catheters market from 2022 to 2031, with a primary focus on identifying business opportunities. The research report studies the market by utilizing tools such as drivers & restraints impact analysis, value chain analysis, Porter’s five forces analysis, opportunity map analysis, and the market attractiveness index to provide a well-studied market assessment.
In addition, the research analyzes key players in the global catheters market, and offers insights into their company profiles, market strategies, and supply-demand dynamics. It evaluates the competitive landscape, thus helping stakeholders identify potential partners or rivals.
List of Key players
Major key players operating in the global catheters market include:
Abbott Laboratories
Becton Dickinson And Company
Boston Scientific Corporation
B. Braun Melsungen AG
Cook Medical
Edwards Lifesciences Corporation
Johnson & Johnson
Teleflex Incorporated
Medtronic, Inc.
Stryker Corporation
These players have adopted different strategies, such as agreement, acquisition, branding, product launch, and product approval to sustain their foothold and improve the product portfolio of the catheters market.
To sum up
The AMR report offers a detailed study of the catheters industry, including a comprehensive competitive landscape. It further highlights key growth drivers, trends, and potential opportunities that empower leading key players in the industry and major stakeholders to make informed strategic decisions. The report serves as a valuable resource for understanding changes in the sector by mitigating risks and supporting long-term business growth by offering in-depth insights in an increasingly competitive environment.
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