Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Catheters Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, April 29, 2021 (GLOBE NEWSWIRE) -- The Global Catheters Market is expected to grow at a CAGR of around 8.1% from 2020 to 2027 and reach the market value of over US$ 77.8 Bn by 2027.
Catheters are the medical grade thin tubes inserted into the body to deliver lifesaving devices from the cardiovascular to the neurovascular realm, also used to extract or deploy fluid from the body.
The global catheters market is segmented on the basis of product type, end-use, and geography. On the basis of product type, the market is studied across vascular catheters, urology catheters, intravenous catheters, specialty catheters, and others. Additionally, the end-use of catheters is held in hospitals & clinics, specialty centers, and ambulatory surgical centers (ASCs) among others.
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Based on the product type, the vascular catheters segment is leading the global catheters market with maximum revenue share (%) and the segment is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The vascular catheters segment is particularly studied across the cardiovascular catheters and neurovascular catheters, among them cardiovascular catheters dominated the segmental market.
By end-use, the hospital & clinics segment is having a significant share (%) in the global catheters market due to their worldwide presence and efficiency to deal with serious conditions. The continuously increasing number of hospitals and clinics across the globe and especially in the developing economies is additionally proliferating the segmental market value.
North America held the maximum share in the catheters market and the region is also anticipated to maintain its dominance throughout the forecast timeframe from 2020 to 2027, due to its major economies including the US and Canada. The presence of major players in the region like Abbott, Medtronic Plc, Boston Scientific Corporation, and others are further supporting the regional market dominance.
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Furthermore, Asia Pacific is estimated to experience the fastest growth during the forecast period from 2020 to 2027. The rapidly developing economies along with the expanding and advancing healthcare sector are contributing to the maximum growth. The expanding operation and distribution channel in the regional market due to the availability of opportunities by the major players is further boosting the regional market value.
Some of the leading competitors are Abbott, Becton, Dickinson, and Company, Boston Scientific Corporation, Braun Melsungen Ag, Cure Medical LLC, Edwards Lifesciences, Koninklijke Philips N.V, Lumend Corporation, Medtronic plc, Terumo Corporation. The major players are continuously making possible efforts for the development of catheters for minimally invasive procedures with advanced materials. They are also adopting strategies for the expansion of their market share in foreign regions.
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Some of the key observations regarding the catheters industry include:
- Mediplus, a UK-based organization has announced that its suprapubic catheter system has been adopted by interventional radiologists in Texas. The suprapubic catheter system or S-Cath System offers several advantages to clinical staff and the patient both, like accuracy, greater control, reduced risk of trauma, and tissue damage for the patient.
- BD has received the US FDA clearance for its Pristine long-term hemodialysis catheter in 2021. The catheter is designed to minimize thrombus adhesion and help facilitate blood clot aspiration prior to hemodialysis treatment.
- In 2021, Solo-Dex has launched Fascile continuous peripheral nerve block catheter. The newly launched catheter is designed to manage pain before, during, and after surgery. These have the ability to activate the facile continuous nerve block catheter quickly and safely for common procedures like shoulder repair, hip and knee replacement, and other general surgical procedures.
- B. Braun Interventional Systems (BIS) has collaborated with the Infraredx in 2021. This collaboration is held to perform a trial for the B. Braun SeQuent Please ReX. Under the collaboration both the companies will work together to accelerate the FDA investigational device exemption (IDE) clinical trial for the SeQuent Please ReX drug-coated PTCA balloon catheter. In 2019, the same device has received breakthrough device designation.
- In 2021, a part of Abbott, St. Jude Medical has won a patent dispute over a method for using a double catheter in heart failure patients. According to the latest order issued, a double catheter system is suitable for use in the coronary sinus, especially in patients suffering from congestive heart failure.
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