Catheter Market Size, Share, Growth, Forecast 2030

Catheter Market: Overview

The global catheter market accounted for USD 41.15 Billion in 2020 and is expected to reach USD 75.32 Billion by 2028, expanding at a CAGR of 9.2% from 2021 to 2028.

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Catheterization comes across as one of the primary co-procedures performed with several other medical procedures like neurosurgery, cardiac electrophysiology, and angioplasty for diagnostic and therapeutic purposes. Catheters are thin tubes made out of medical-grade material like silicon rubber, plastic, PVC, and nylon.

COVID-19 Impact Analysis:

The ongoing pandemic in the form of COVID-19 has, in a way, proved to be a blessing in disguise for the catheter market. As those suffering from the ailments mentioned above are likely to contract Corona at a faster rate than those who are devoid of these, catheters are being used more often. The other reason is social distancing being mandated. Using catheters has less to do with human intervention, thereby keeping cross-contamination at bay. This scenario is expected to continue even post-Covid era as the convenience factor is expected to be the epicenter then.

Catheter Market: Growth Factors:

Apart from cardiovascular diseases, kidney disorders and urinary bladder-related disorders have been steering the catheter market growth. Also, both - medical practitioners and patients prefer minimally invasive surgeries these days. At the same time, the fact that the urological catheter market will grow at the fastest pace in the upcoming period can’t be ruled out. This could be attributed to increasing in problems related to incontinence coupled with growth in the aging population worldwide and growing awareness of the population.

Catheter Market: Report Scope

Product Segment Analysis Preview:

Based on products, the global catheter market is segmented into the cardiovascular catheter, neurovascular catheter, urological catheter, intravenous catheter, and specialty catheter. Specialty catheters accounted for a significant share attributing to their popularity and preference. The cardiovascular catheter is the second large segment attributing to high revenue share.

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Catheter Market: Key Players & Competitive Landscape:

Some of the key players in the catheter market are Abbott Laboratories, Becton Dickinson Inc., Boston Scientific, Braun Melsungen AG, Arrow International Inc, Rochester Medical Co, Medrad, Edwards Lifesciences, and Hollister Inc.

Regional Segment Analysis Preview: 

Based on geographies, the global catheter market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America held a substantial accounting for a major market share in 2020. This is mainly attributable to the presence of a highly developed medical infrastructure and growing popularity. Besides, the presence of major companies is influential in North America. Asia Pacific is expected to register a CAGR of 6.4% in the near future owing to the presence of a large population with medical needs in China.

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Catheter Market: Competitive Analysis

The global Catheter market is dominated by players like:

• Abbott Laboratories
• Becton Dickinson Inc
• Boston Scientific
• Braun Melsungen AG
• Arrow International Inc
• Rochester Medical Co
• Medrad
• Edwards Lifesciences
• Hollister Inc

The Global Catheter Market is segmented as :

By Product:

• Cardiovascular Catheters
• Neurovascular Catheters
• Urological Catheters
• Intravenous Catheters
• Specialty Catheters

By Region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa