New York, NY -- (SBWIRE) -- 08/25/2020 -- According to a report by P&S Intelligence, the global catheter market is projected to attain a value of $36.0 billion by 2030, rising from $14.3 billion in 2019, advancing at an 8.8% CAGR during the forecast period (2020–2030).

The prevalence of chronic diseases, such as cancer, cardiovascular diseases, urinary tract infections, and neurological diseases, is increasing rapidly across the globe, which is leading to the rising demand for medical devices, such as catheters. For example, as per the Global Cancer Observatory 2018, the third leading cause of cancers globally was gastric cancer, which accounted for 783,000 deaths in 2018, rising from 723,000 deaths in 2012. In addition to this, more than one million cases of gastric cancers are diagnosed every year across the world. Similarly, the increasing cases of cardiovascular diseases are also projected to drive the demand for catheters in the years to come.

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A catheter is a medical device that is passed into the bladder for draining urine. These devices are at time important for people who are not able to empty their bladders in the usual way, which can be due to different medical conditions. Different types of catheters are ophthalmic, urological, cardiovascular, neurovascular, and gastrointestinal.

The objective of this research includes;

- Major factors driving the catheter market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the catheter market players make informed decisions on the sales of their offerings
- Competitive scenario of various catheter market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings

Among all these, the demand for cardiovascular catheters was the highest in the past, which is majorly ascribed to the surging incidence of cardiovascular diseases around the world. The requirement for these devices also witnessing growth because of their increasing utilization for diagnosing and treating cardiovascular diseases. Different types of cardiovascular catheters are intravascular ultrasound/optical coherence tomographic, electrophysiological, balloon, and angiographic. Other than this, the demand for urological catheters is also predicted to grow considerably in the years to come, which is primarily due to the increasing geriatric population.

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Geographically, North America was the major consumer of catheters in 2019, which is ascribed to the rising healthcare expenditure, increasing prevalence of chronic diseases, growing aging population, presence of key companies, and surging number of initiatives that are being taken by private and public organizations for creating awareness regarding the usage of catheters. Apart from this, the Asia-Pacific (APAC) region is projected to emerge as the fastest-growing catheter market in the coming years. This can be primarily due to the enhancing healthcare infrastructure and presence of key companies in the region.

The research includes detailed analysis of;

Based on Type
- Cardiovascular
o Electrophysiological
o Angiographic
o Balloon
o Intravascular ultrasound/optical coherence tomographic (IVUS/OCT)
- Urological
o Intermittent
o Hemodialysis
o Condom
o Suprapubic
o Indwelling
- Gastrointestinal
- Neurovascular
- Ophthalmic

Based on Shape
- Pigtail
- Judkins Left
- Judkins Right
- Bypass
- Amplatz

Based on End User
- Hospitals and Ambulatory Surgical Centers (ASCs)
- Homecare Settings
- Diagnostic Centers

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