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Increasing Spending in Healthcare Sector to Fuel Global Catheters Market

Transparency Market Research Announced Report Title "Catheters Market (Urological, Specialty, Neurovascular, Intravenous and Cardiovascular Catheters) - Global and China Forecast, Share, Size, and Industry Analysis" And Its Full Database


Albany, NY -- (SBWIRE) -- 08/28/2015 -- The increasing demand around the world for minimally invasive surgeries is fueling the global catheters market. Catheters are inserted in the body to either treat a medical condition or to perform a surgical procedure. For example, steerable catheters are used to perform minimally invasive vascular surgery. The global market for minimally invasive surgery is projected to demonstrate a healthy CAGR of 10.5% during 2013 to 2019 and be worth US$50.60 billion by 2019.

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Increasing Spending in Healthcare Sector to Fuel Global Catheters Market
Apart from the increasing use of catheters medical devices in the minimally invasive surgeries, the global catheters market will also benefit from the growing overall spending in the healthcare sector worldwide. Furthermore, the accelerating geriatric population will also fuel the growth of the global catheters market. The rising number of product innovations in the global catheters market along with the trend of low-cost pricing and reprocessing model drive will also boost the growth of the global catheters market.

On the other hand, factors such as the increasing cost of research and development projects, infections related to catheters, and the high pricing of catheter products will suppress the market. The global catheters market is projected to grow at an 8.5% CAGR during the forecast period of 2011 to 2017. In 2011, the global catheters market was recorded at US$20.4 billion and by 2017, the market is expected to be worth US$33.3 billion. Companies in the global catheters market will benefit from the rapidly expanding market for catheters in China.

Demand from China to Drive Global Catheters Market
The growing prevalence of coronary diseases, coupled with the elevated per capita healthcare expenditure in China, is expected to drive the China catheter market to a great extent. In 2011, the China catheter market was worth US$0.7 billion. This market is expected to soar at a double-digit CAGR during the forecast period. Overall, the China catheter market will be driven by the expanding cardiovascular sector.

At present, North America is the largest market for catheters, and the U.S. boasts the presence of a majority of catheter manufactures in the world. Around 65-75% of the world's catheter manufacturing companies are present in the U.S. North America held a substantial 44.3% share in the global catheters market in 2011. However, Europe is expected to be the leading region in the global catheters market by 2016.

Manufacturers in the global catheters market provide cardiovascular catheters, intravenous catheters, neurovascular catheters, specialty catheters, and urological catheters. The global cardiovascular catheter market was estimated at US$8.3 billion in 2011. The specialty catheter segment is the second largest sector of the global catheters market. Advanced cauterization techniques coupled with superior devices are anticipated to shape the growth trajectory of the urological catheters market in the foreseeable future. The urological catheters market is expected to grow at a marked 11.1% CAGR during the forecast period.

Companies that focus on development of advanced catheters that reduce the risk of infection and offer highly durable and reliable catheters devices will be able to succeed during the forecast period. The key companies operating in the global catheters market are Abbott Laboratories, Boston Scientific, Arrow International, Coloplast, Johnson and Johnson, Edwards Lifesciences, and Medtronic.

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