Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 55.28 Billion | USD 109.60 Billion | 7.9% | 2023 |
According to a report from Zion Market Research, the global Catheter Market was valued at USD 55.28 Billion in 2023 and is projected to hit USD 109.60 Billion by 2032, with a compound annual growth rate (CAGR) of 7.9% during the forecast period 2024-2032.
This report explores market strengths, weaknesses, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and future prospects that may emerge in the Catheter Market industry over the next decade.
Catheterization comes across as one of the primary co-procedures performed with several other medical procedures like neurosurgery, cardiac electrophysiology, and angioplasty for diagnostic and therapeutic purposes. Catheters are thin tubes made out of medical-grade materials like silicon rubber, plastic, PVC, and nylon.
The ongoing pandemic in the form of COVID-19 has, in a way, proved to be a blessing in disguise for the catheter market. As those suffering from the ailments mentioned above are likely to contract Corona at a faster rate than those who are devoid of these, catheters are being used more often.
The other reason is social distancing being mandated. Using catheters has less to do with human intervention, thereby keeping cross-contamination at bay. This scenario is expected to continue even post-COVID era as the convenience factor is expected to be the epicenter then.
Apart from cardiovascular diseases, kidney disorders and urinary bladder-related disorders have been steering the catheter market growth. Also, both - medical practitioners and patients prefer minimally invasive surgeries these days. At the same time, the fact that the urological catheter market will grow at the fastest pace in the upcoming period can’t be ruled out. This could be attributed to increasing in problems related to incontinence coupled with growth in the aging population worldwide and growing awareness of the population.
Report Attributes | Report Details |
---|---|
Report Name | Catheter Market |
Market Size in 2023 | USD 55.28 Billion |
Market Forecast in 2032 | USD 109.60 Billion |
Growth Rate | CAGR of 7.9% |
Number of Pages | 210 |
Key Companies Covered | Abbott Laboratories, Becton Dickinson Inc., Boston Scientific, Braun Melsungen AG, Arrow International Inc, Rochester Medical Co, Medrad, Edwards Lifesciences, and Hollister Inc |
Segments Covered | By Product and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Based on products, the global catheter market is segmented into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters, and specialty catheters. Specialty catheters accounted for a significant share attributing to their popularity and preference. The cardiovascular catheter is the second largest segment attributing to a high revenue share.
Based on geographies, the global catheter market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America held a substantial accounting for a major market share in 2023. This is mainly attributable to the presence of a highly developed medical infrastructure and growing popularity. Besides, the presence of major companies is influential in North America. Asia Pacific is expected to register a CAGR of 7.4% soon owing to the presence of a large population with medical needs in China.
The global Catheter market is dominated by players like:
The global Catheter market is segmented as follows;
By Product:
By Region:
FrequentlyAsked Questions
According to a study, the global Catheter market size was worth around USD 55.28 billion in 2023 and is expected to reach USD 109.60 billion by 2032.
The global Catheter market is expected to grow at a CAGR of 7.9% during the forecast period.
Some of the key factors driving the global catheter market growth comprise increase in problems related to incontinence coupled with growth in aging population worldwide and growing awareness in the population.
North America is expected to dominate the Catheter market over the forecast period.
Some of the major companies operating in global catheter market are Abbott Laboratories, Becton Dickinson Inc., Boston Scientific, Braun Melsungen AG, Arrow International Inc, Rochester Medical Co, Medrad, Edwards Lifesciences, Hollister Inc.
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