New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Catheters Global Market Report 2022" - https://www.reportlinker.com/p06284277/?utm_source=GNW
Braun Melsungen AG, Terumo Corporation, Lumend Corporation, Covidien Ag (Ireland), Acist Medical Systems, Cook Medical Inc., Dickinson and Company, Stryker Corporation, and Merit Medical Systems.
The global catheters market is expected to grow from $24.9 billion in 2021 to $27.32 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to grow to $34.92 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%.
The catheter market consists of sales of catheters by entities (organizations, sole traders, and partnerships) that refers to a tubular device for insertion into vessels, canals, passageways, body cavities.Catheters are usually used to permit injection or withdrawal of fluids or to keep a passage open.
The catheters are used for different medical purposes such as administration of fluids, medications or gases, or to drain fluids or urine from the body.
The main types of catheters include cardiovascular, neurovascular, urology, intravenous, and specialty catheters.The cardiovascular catheters market consists of sales of catheters by entities (organizations, sole traders, and partnerships) that refer to the catheters that are used for cardiac purposes.
Catheters are available in three variations single-lumen, double-lumen, and triple-lumen and used in hospitals and clinics and ambulatory surgical centers.
North America was the largest region in the catheters market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising prevalence of the cardiovascular disorder is driving the growth of the catheters market.Cardiac catheterization is a process in which a catheter is moved through a blood vessel to the heart for a better diagnosis of health conditions.
The increase in the prevalence of cardiovascular diseases and the growing demand for cardiovascular treatment is expected to increase the demand for catheters.For instance, the prevalence of cardiovascular diseases doubled from 271 million in 1990 to 523 million in 2019, and the key reasons for the rising prevalence of cardiovascular disorders are an increase in life spans, socio-economic changes, acquisition of lifestyle-related risk factors, and others.
Thus, the rising prevalence of the cardiovascular disorder is expected to boost the catheters market.
Strategic collaborations between companies are a key trend that is gaining popularity in the catheters market.Companies in the catheters market are focusing on strategic collaborations to expand their research and development activities in innovative products and improve their market share in their respective markets.
For instance, in 2019, Stereotaxis and Osypka have collaborated on the development of a next-generation magnetic ablation catheter with the integration of robotic technology of Stereotaxis. This has stimulated the growth potential of both companies in the industry.
In August 2019, Boston Scientific Corporation, a USA-based developer, manufacturer, and marketer of medical devices has acquired the British Technology Group (BTG plc.) for $4.2 billion. The acquisition by the company is focused on expanding its portfolio of minimally-invasive surgical devices and expanding its business presence in medical device markets. BTG is a UK-based medical device company involved in the development and commercialization of its products that are used in minimally-invasive procedures targeting cancer and vascular diseases.
The countries covered in the catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284277/?utm_source=GNW
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