Catheters Market Is Expected To Reach USD 74.84 Billion By 2028

 San Francisco, 22 March 2021: The Report Catheters Market Size, Share & Trends Analysis Report By Product Type (Cardiovascular, Urology, Intravenous, Neurovascular, Specialty), By Distribution Channel (Hospital Stores, Retail Stores), By Region, And Segment Forecasts, 2021 - 2028

The global catheters market size is expected to reach USD 74.84 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2021 to 2028. The increasing prevalence of chronic diseases and improving medical facilities are some of the prime factors boosting the market growth. Moreover, the rapidly growing geriatric population has led to increased hospitalizations and surgeries, thereby supporting the market growth.

A rise in the prevalence of various chronic disorders, such as cardiovascular disorders, urology disorders, strokes, and other chronic conditions, is expected to increase the demand for catheters in medical settings. As per the WHO, every year, 41 million people die due to chronic illnesses, which accounted for 71% of all deaths globally and 60% of the global burden of disease in 2020. Moreover, an increasing number of people in the developing countries of APAC and Latin America are suffering from diabetes owing to factors such as sedentary lifestyles and dietary irregularities. This, in turn, is expected to boost the use of catheters in medical settings. The outbreak of COVID-19 resulted in the demand for catheters globally. For instance, according to the Cardiovascular Fellows Consortium, around 2,548 cardiac catheterization procedures were performed during the COVID-19 pandemic, whereas 4,671 procedures were performed during the same period the previous year.

Technological advancements play a crucial role in driving the market. For instance, the introduction of miniaturized and antimicrobial catheters to reduce catheter-associated infections is expected to favor the market growth. Teleflex introduced Arrow acute hemodialysis catheters based on ARROWg+ard Antimicrobial Technology, which is known for its broad-spectrum of antimicrobial protection.

Access Research Report of Catheters Market @ https://www.grandviewresearch.com/industry-analysis/catheters-market-analysis

Catheters Market Report Highlights

  • On the basis of product type, the cardiovascular catheters segment dominated the market in 2020 with a share of 28.03% due to a rise in the prevalence of cardiovascular disorders, which, in turn, is increasing the demand for the interventional cardiac procedures
  • Based on distribution channel, the hospital stores segment dominated the market in 2020 with a share of 53.83% owing to an increase in the number of hospital admission rates and an upsurge in surgical procedures globally
  • North America dominated the market with a revenue share of 32.05% in 2020 owing to the high incidence rate of chronic disorders as well as the availability of highly skilled physicians in this region

List of Key Players of Catheters Market

  • Hollister Incorporated
  • Medtronic
  • Boston Scientific Corporation
  • Edwards Lifesciences
  • Smith Medical Inc.
  • Teleflex Incorporated
  • ConvaTec Group Plc
  • Cure Medical LLC

 Access Press Release of Catheters Market @ https://www.grandviewresearch.com/press-release/global-catheters-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hot
Read more