NEW YORK, June 15, 2020 (GLOBE NEWSWIRE) -- Around the world, the volume of interventional radiology procedures is rising, on account of being less invasive than conventional, open medical procedures, which makes the former popular among patients. Due to this reason, the global catheter market is projected to grow at a CAGR of 8.8% between 2020 and 2030, to reach $36.0 billion by 2030. This is because such procedures involve the insertion of a catheter into a specific part of the body, guided by X-rays, ultrasound, and other imaging modalities. Such medical devices are available in different shapes and sizes, depending upon the interventional radiology procedure they would be used for.
The impact of the ongoing COVID-19 pandemic is expected to be positive for the industry, as the increasing rate of patient hospitalization is leading to the rising demand for catheters. As of June 8, 2020, the COVID-19 case count had exceeded 6.9 million. In such a scenario, the healthcare infrastructure of even the most developed countries has become overburdened and is witnessing a rising requirement for almost all types of medical devices, including catheters.
Catheter Market Segmentation Analysis
The cardiovascular division, on the basis of type, held the largest share in the market during 2014–2019, due to the rising incidence of such diseases around the world. As per the World Health Organization (WHO), heart diseases are the number one cause of global mortality, leading to more than 17.5 million deaths each year. Moreover, owing to the ongoing coronavirus (COVID-19) pandemic, the demand for cardiovascular catheters has significantly risen, according to the Society of Cardiovascular Angiography and Intervention (SCAI) and American College of Cardiology (ACC) Interventional Council.
Get the Sample Copy of this Report at: https://www.psmarketresearch.com/market-analysis/catheter-market-outlook/report-sample
In the coming years, the market would experience the fastest growth in the pigtail category, based on shape. This is because pigtail-shaped catheters are smaller, less traumatic, and flexible. In addition, they can be easily inserted and also lead to fewer complications.
Hospitals & ambulatory surgical centers (ASCs) would continue being the largest end users in the catheter market till 2030, owing to the rising incidence of chronic diseases, surging rate of hospitalization, and increasing number of such medical centers around the world. Additionally, as tertiary-level care, with all modern medical devices, is provided at such places, by trained professionals, patients generally prefer these over homecare settings and diagnostic centers.
Browse report overview with 197 tables and 59 figures spread through 253 pages and detailed TOC on "Catheter Market - Global Industry Size, Share and Growth Forecast to 2030” at: https://www.psmarketresearch.com/market-analysis/catheter-market-outlook
North America is presently the largest procurer of catheters, as the geriatric population here is booming, numerous global market players are present, technologically advanced products find the earliest adoption here, and the regional healthcare infrastructure is the best in the world. The Asia-Pacific (APAC) is expected to experience the highest CAGR in the market during the forecast period, as a result of the advancements in the healthcare technology in Japan, China, and India and lower cost of most medical devices. Further, owing to the low labor and raw material costs, global catheter manufacturers are moving their production base to the APAC region.
Companies Engaging in Mergers and Acquisitions to Consolidate their Position
Mergers and acquisitions have been the most numerous of the strategic developments in the industry, as the players are looking at them as an opportunity to:
- Enhance their portfolio of catheters for treating cardiac arrhythmias
- Improve their medical device designing and development capabilities
- Expand their vascular intervention operations around the world
- Strengthen their presence in the countries they are operating in
- Make their services and products available to a larger number of people
Make enquiry before purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=catheter-market-outlook
The major players in the global catheter market are Stryker Corporation, Medtronic plc, Nordson Corporation, Johnson & Johnson, ADInstruments Ltd., AngioDynamics Inc., Transonic Systems Inc., Millar Inc., SIMEKS Tıbbi Ürünler San. ve Tic. Ltd. Şti., amg International GmbH, Medinol Ltd., Alvimedica Saglik Ekipmanlari Pazarlama Satis Ve Dagitim A.S., ConvaTec Group PLC, Coloplast A/S, Abbott Laboratories, B. Braun Melsungen AG, Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Merit Medical Systems Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Cook Medical LLC, Hollister Incorporated, Smiths Medical, and Terumo Corporation.
More Reports of Life Sciences by P&S Intelligence
Lancet Market
The safety bifurcation is expected to witness growth at the higher CAGR in the lancet market, because of the rising demand for such variants, as they are intended for disposal after every use. These lancets are designed in a way that after use, the needle automatically retracts, which reduces the risk of accidental pricks and injuries. Moreover, they can be used to prick the capillary without the use of a lancing device, which further makes them popular.
https://www.psmarketresearch.com/market-analysis/lancet-market
Medical Robotic Systems Market
North America is predicted to continue dominating the medical robotic systems market till 2030. This would be a result of the high public and private investments in the field, presence of a number of market players, and established healthcare industry, because of which medical centers here have a higher purchasing power for such cost-intensive equipment.
https://www.psmarketresearch.com/market-analysis/medical-robotic-systems-market
Hand Sanitizer Market
The awareness regarding the usage of hand sanitizers is growing rapidly on account of coronavirus, and more people are making their use to stay safe, when they are out of their houses. Apart from this, with the surging number of COVID-19 patients every day across the globe, hospitals, both permanent and temporary, are being built everywhere. Moreover, hotels and college dormitories are also being told to install isolation rooms and purchase other essential products, in order to quarantine patients until they are recovered, because of the shortage of beds in hospitals.
https://www.psmarketresearch.com/market-analysis/hand-sanitizer-market
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Connect with us: LinkedIn | Twitter | Facebook