Selbyville, Delaware, Jan. 19, 2022 (GLOBE NEWSWIRE) --
The catheters market size is anticipated to record a valuation of USD 34.4 billion by 2027, according to the most recent study by Global Market Insights Inc. The high burden and expenditure of cardiovascular diseases are expected to drive the market growth during the forecast timeframe. Furthermore, assistance from the governmental authorities for research and development of novel devices will assist in robust market expansion.
With the rising disease burden, a number of treatment procedures are also increasing that will further foster the product demand in the coming years. Moreover, changing lifestyle, adoption of unhealthy habits such as alcohol consumption and smoking along with environmental factors including pollution adds to diseased patient pool globally.
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The intravenous catheters segment is projected to witness 10.2% growth rate through 2027 led by the technological advancements in intravenous catheters leading to the introduction of novel catheterization techniques. With the newer technologies, the field of intravenous catheterization is also evolving that is anticipated to surge the product acceptance. Surging application of intravenous catheters in the treatment of chronic ailments such as cardiac, neurology, urology disorders will augment the industry growth during the forecast timeline.
The catheters market for triple-lumen segment is predicted to expand at more than 9.3% CAGR till 2027 impelled by the notable usage of triple-lumen catheters at healthcare facilities. The adoption of triple-lumen catheters has steadily increased over the years driven by widespread applications in measuring cardiovascular pressure, hemodialysis, and administration of hyperosmolar solutions among others. Several manufacturers are emphasizing to maximize the diameter of the central lumen of these catheters for high flow capacity. Three distinct non-communicating access lumens within a single catheter body reduce the requirement for multiple venipunctures. Triple-lumen catheters are widely used for central venous access attributed to their three infusion channels that enable multiple therapies to be administered simultaneously.
The hospital & clinics segment in the catheters market is estimated to reach USD 18.86 billion by 2027. The rising number of hospitals & clinics that deliver advanced diagnostics & treatment services will contribute to an increased preference towards these healthcare facilities. Easy access to quality treatment for chronic diseases at affordable cost, easy reliability & availability of skilled professionals is set to spur the market value in the coming years. The increasing number of urgent care hospitals & clinics credited to patient preference for convenience and affordability is accelerating the catheters acceptance and demand. Additionally, increasing awareness concerning the treatment of chronic diseases along with technological advancements in catheters to stimulate the catheters usage in these healthcare facilities positively in the coming years.
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China catheters market is poised to exceed USD 2.69 billion by 2027. The high prevalence of chronic diseases such as cardiovascular, neurovascular, and urinary ailments coupled with the rapidly aging population is boosting the demand for catheters in China. Several companies in the country are focusing on the involvement of novel technologies in catheters development. Owing to these product advancements, catheters are being widely adopted in the treatment of various chronic diseases effectively, thereby propelling the industry expansion in China.
Some of the major players operating in the market are Abbott Laboratories, B Braun, Boston Scientific Corporation, Coloplast, Teleflex Inc., Johnson and Johnson, and Medtronic Inc.
Table of Contents (ToC) of the report:
Chapter 3 Catheters Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027 (USD Million & 000’ Units)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By lumen
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Regulatory landscape
3.8 Competitive landscape, 2020
3.8.1 Company matrix analysis, 2020
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
