Catheter Market (By Product Type: Cardiovascular (PTA Balloon, Electrophysiology, PTCA Balloon, Intravascular Ultrasound), Urology(Peritoneal, Intermittent, External, Hemodialysis), Intravenous(Peripheral, Central Venous, Midline Peripheral), Specialty(Oximetry, Wound/Surgical, Intrauterine Insemination (IUI), Thermodilution, Neurovascular; By Distribution Channel: Retail Stores, Hospital Stores, Online Stores) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027
The global catheter market was valued at around USD 35.13 billion in 2019 and is expected to witness compound annual growth rate (CAGR) of around 9.2% during the forecast period 2020 to 2027.
Increasing diabetic population, growing urological and cardiovascular disorders, incurable renal failure and rest chronic conditions caused by changing or inactive lifestyle is projected to drive substantial growth in the catheter market. Changing lifestyle patterns leads to cardiovascular diseases which upsurges hospitalization and thereby creating demand for catheter. Further, mortality and the number of people affected by diseases increased owing to neurology, urology and cardiovascular diseases supports the catheter demand. Improved medical treatments and insurance policies and availability of regional manufacturers will fuel the market growth substantially. Moreover, increased funding by government sector and manufacturers of medical devices for research & development will drive the market demand. In addition, patient preference for less invasive surgeries will lift the demand for catheters. Demand for disposable and sterilized catheter is increasing owing to growing old age population worldwide. Increased investment by major key players and government as well as private sector in healthcare will boost the catheter market. Emerging economies are anticipated to witness substantial growth opportunities for catheter market players. With the increasing spending on healthcare and for its infrastructure will create new prospects for the catheter market.
However, high cost involved in development of advanced products hinders the growth of the catheter market. Further, increasing CAUTI i.e. Catheter Associated Urinary Tract Infection owing to use of catheter will hamper the market growth. Nonetheless, increasing government investment in the healthcare sector of emerging economies will create significant opportunities for the catheter market in near future.
Based on the product type the catheter market is segmented into cardiovascular catheter, urological catheter, neurovascular catheter, and intravenous catheter and specialty catheters. Among these, the cardiovascular catheter segment dominated the global market in 2019 and is expected to hold the dominance over the forecast period owing to continuous prevalence of cardiovascular diseases across the world. In Germany, the significant growth is observed in catheter market owing to the high prevalence of cardiovascular diseases along with the growing demand for less incision surgeries. According to European Union around 38% of the deaths accounted in the Germany owing to cardiovascular diseases. Nevertheless, the availability of cardiac special hospitals and the health care centers in the country will drive the catheter market growth. The cardiovascular segment is sub segmented into electrophysiology, PTA balloon, PTCA balloon, and Intravascular Ultrasound (IVUS) out of which the PTCA balloon sub segment is predicted to dominate the catheter market over the forecast period. Among the intravenous sub segments the peripheral catheter observed high demand and surgical catheter from specialty segment led the global catheter market.
Distribution Channel Insights
In terms of distribution channel, the global catheter market is segmented into hospital stores, retail stores and other online stores. Out of these, hospital stores segment dominates the market owing to increasing surgeries and medical treatments which in result increase the number of patients to be hospitalized. The hospital stores are also expected to witness highest CAGR on account of increasing urinary incontinence and other chronic disorders. With increasing internet penetration, the e-commerce websites become popular for the catheter which will push customers to use online channels for purchase. Further, the retail stores are also expected to witness significant growth over the forecast period owing to the growing urological problems.
Geographically, North America held highest revenue share in the catheter market in 2018 owing to existence of global manufacturers and modern health care infrastructure. Further, supportive government policies and increasing awareness about the product will boost the demand for catheter market. Adoption of innovative technologies such as antimicrobial coating catheters, intravascular imaging catheters which will boost the growth of the catheter market in the region. According to National Public Health Institute in US around 9%of the population from America is diabetic. Europe holds the second largest position in catheter market. In Europe France, Germany and UK significantly contribute to this regional market due to the technological advancement in the healthcare sector. Asia Pacific is expected to show fastest growth rate over the forecast period on account of continuously improving medical facilities and available target population affected by chronic diseases such as diabetes. Around 60% of the total global diabetic population present in Asia Pacific which will fuel the market growth. Owing to least availability of investment and medical treatments, Middle East and Africa experiences sluggish growth in the catheter market.
Key Companies & Market Share Insights
Global catheter market has fragmented nature. Major players in catheter market shifting their focus towards emerging economies such as India, Brazil, China, South Africa and Mexico in order to grab significant opportunities in the catheter market.
The major key players involved in the global catheter market include:
- Braun Melsungen AG
- Coloplast A/S
- Hollister Incorporated
- Teleflex Incorporation
- Medtronic plc
- ConvaTec Group plc
- Cook Group
- Abbott Laboratories
- Boston Scientific Corporation
Segments Covered in the Report
This research report involves complete evaluation of the market by means of vast qualitative and quantitative comprehensions, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it based on end-use and region as follows:
- PTA Balloon
- PTCA Balloon
- Intravascular Ultrasound
- Central Venous
- Midline Peripheral
- Wound/ Surgical
- Intrauterine Insemination (IUI)
- Distribution Channel
- Retail Stores
- Hospital Stores
- Online Stores
By Regional Outlook
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Latin America
Frequently Asked Questions About This Report
Precedence Research predict that the global catheter market was valued at around US$ 35.13 billion in 2019.
The global catheter market is expected to witness a CAGR of 9.2% over the forecast period 2020 to 2027.
Rising pervasiveness of chronic disorders led augmented number of surgeries thereby creating demand for different kinds of catheters. Increasing product awareness will further fuel the market growth. Further, increasing demand for cardiovascular as well as intravenous products accelerates the global catheter market. Growing preference for minimal invasive surgery drives the catheter market significantly. The major driving factor is the noteworthy market share gained by midscale manufacturers across the globe.
Major players in catheter market are B. Braun Melsungen AG, Coloplast A/S, Hollister Incorporated, Teleflex Incorporation, Bard, Medtronic plc, ConvaTec Group plc, Cook Group, Abbott Laboratories, and Boston Scientific Corporation.
The cardiovascular catheter segment dominated the global market in 2019 and is expected to hold the dominance over the forecast period owing to continuous prevalence of cardiovascular diseases across the world.
The North America held highest revenue share in the catheter market in 2019 owing to existence of global manufacturers and modern health care infrastructure.
Asia Pacific is expected to show fastest growth rate over the forecast period on account of continuously improving medical facilities and available target population affected by chronic diseases such as diabetes.