Catheters Market Forecast with Key Players: Abbott Laboratories, Boston Scientific Corp., Johnson & Johnson, Medtronic Inc.

Sellbyville, DE -- (SBWire) -- 11/27/2018 --Global Catheters Market was USD 29.4 billion in 2015, with 11% CAGR estimation from 2016 to 2024.
Growing incidences of cardiovascular, neurovascular, chronic kidney related disorders and the shift from traditional methods to minimally invasive procedures will provide a crucial uplift to the global catheter market. Advancements in catheter technology such as urinary Foley catheter and metal alloy urinary catheters will prevent from catheter-associated urinary tract infection and other related infections are driving the catheters demand.

Rising rates of hospital acquired infections and increased cases of genital surgeries will also boost the global catheter market growth. The advent of hydrophilic coated guidewires and bio-absorbable stents is foretold to make its contribution toward the growth of catheters market globally. These afore-mentioned factors will consequently widen the consumer base and propel the demand for catheters.
Dearth of skilled professionals, excessive cost of technologically advanced catheters, risks related with functioning of catheter and the reuse of single-use diagnostic catheter are impeding the uptake of catheters.

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Cardiovascular catheters market dominated the global market, owing to increasing number of cases with heart diseases and other cardiovascular problems, large volumes of interventional cardiology procedures.

Specialty catheters market is the most remunerative segment, majorly owing to a large presence of several untouched opportunities in the application segment such as body fluid suction and wound drainage.
U.S. catheters market is set to witness robust growth over forecast period, owing to the presence of sophisticated infrastructure, high healthcare expenditure, burden of rising urology diseases and high volumes of catheterization in medical procedures. The presence of strong distribution network of the key vendors and favorable reimbursement scenario such as Medicaid program also contributes to the higher sales as well as growth of the U.S catheters market.

Peripherally inserted central catheter market is the fastest-growing in the Asia-Pacific catheters market, owing to rising prevalence of chronic diseases, demand for advanced therapies and growing penetration rates of urological and neurovascular devices. The adoption of peripherally inserted central catheters in China catheters market is due to the government initiatives which aims to increase access to healthcare.

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Europe catheters market is the second largest, owing to the presence of favorable government initiatives and urbane healthcare infrastructure. Europe catheters market is projected exceed North America catheters market by 2024. The improvements in existing urinary catheters and launch of technologically advanced urinary catheters in future will bring future growth opportunities for Europe catheters market.

Increasing and age of the Brazilian population as well as increased access to healthcare provided to low- and middle-income families is the primary reason for the growth of the Brazil catheters market.

Some of the key industry players such as Abbott Laboratories, Boston Scientific Corp., Johnson & Johnson, Medtronic Inc., Coloplast, Koninklijke Philips N.V., B. Braun Melsungen AG, Smiths Medical, Teleflex Inc., Stryker Corporation, ConvaTec, are strengthening their market position by focusing on research activities to develop current cost-effective technologies.