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Sep 24, 2020 (Market Insight Reports) —
Selbyville, Delaware: The newly released research at Market Study Report titled “Catheters Market Report 2017-2025” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.
According to a new report published by The marker research report, the global catheters market is anticipated to reach USD 56.5 billion by 2025. In 2017, by product type, cardiovascular catheter segment captures the largest market shares in terms of revenue and hold major share in the market. Regionally, North America accounted for the major share in the catheter market.
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Geographically, North America holds a dominating position in the global catheter market followed by Europe and Asia Pacific. The growth in the North America catheter market is driven by the presence of refined health infrastructure, high volume of catheterization in medical procedures, high healthcare expenditure by the individuals, and high level of patient awareness about the use catheters. Whereas, Asia Pacific is expected to reach remarkable growth owning to the increased penetration rate of these devices in the developing countries, growing technological advancements pertaining the development of new-catheter devices, and improving healthcare expenditure would influence the catheter market in Asia Pacific during the forecast period.
Key Findings from the study suggest products available in the market are continuously concentrating on the technological advancements that will reduce the side effects caused using catheters. The leading companies while developing new products considers the factors such as increasing disposable income, and untapped market potential. North America is presumed to dominate the global catheter market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.
Catheters are thin tubes made up of plastic, nylon, polyvinyl chloride (PVC), and silicon rubber. Catheters are majorly used in catheterization while surgical procedures like angioplasty, and neurosurgery. The catheters market is primarily driven by continuous growth in the population suffering from cardiovascular disorders and diabetes. Presently, various countries showed the growth in number of patients suffering from hypertension and diabetes which is braced by factors such as smoking, drinking and sedentary lifestyle of the population.
The cardiovascular catheter market is further segmented as PTCA balloon catheters, IVUS catheters, PTA balloon catheters, electrophysiological catheters, and others. The growth of cardiovascular catheters is majorly driven by the increasing incidences of cardiovascular diseases supporting the growth of cardiovascular interventional procedures. While, urological catheter holds the second largest segment with largest revenue. The factors contributing for the growth of urological market are continuous technological advancements, and increasing prevalence of urological diseases in the coming year.
Leading players in the market
The leading companies operating in this industry include Johnson & Johnson Inc., Abbott Laboratories, Becton, Dickson and Company, B. Braun Melsungen AG., Medtronic plc., Boston Scientific Corporation, Cook Group Incorporated, Teleflex Incorporated, Cardinal Health Inc., Smiths Medical, Arrow International Inc., Edward Life Science Corporation, and Coloplast.
More Details on this Report At: https://www.marketstudyreport.com/reports/global-catheters-market-by-product-type-cardiovascular-catheters-ptca-balloon-catheters-ivus-catheters-pta-balloon-catheters-electrophysiology-catheters-others-urology-catheter-foley-catheters-hemodialysis-catheters-peritoneal-catheters-intermittent-catheters-external-catheters-neurovascular-catheter-specialty-centers-wound-surgical-catheters-oximetry-catheters-thermodilution-catheters-iui-catheters-others-by-region-market-size-forecast-2017-2025?utm_source=marketwatch.com&utm_medium=TS
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The MarketWatch News Department was not involved in the creation of this content.
