May 12, 2016
Wellesley, Mass., May 12, 2016 – The market for catheters has expanded as interventional and less invasive procedures have become more popular. BCC Research reveals in its new report that global demographic factors, including the growing incidence of obesity, diabetes and cardiovascular disease, appear to favor long-term growth in the number of interventional procedures.
A catheter is a hollow tube-like structure that can be inserted into a blood vessel, duct or body cavity. In modern uses, catheters allow the drainage of fluids, the infusion of fluids or the insertion of surgical or diagnostic instruments into a body cavity. In some cases, catheters can be large, solid and relatively hard tubes. In others, they can be narrow and bendable, depending on their use.
The global catheter market, which reached 23.9 billion in 2015, is expected to grow at a five-year compound annual growth rate (CAGR) of 4.7% from 2016 to 2021 to total $31.3 billion in the end year. As the largest segment, cardiovascular catheters should reach $27 billion in sales by 2019.
Neurovascular catheters, the fastest-moving segment with a five-year CAGR of 9.9%, should total almost $825 million by 2021. The second fastest-growing market is the specialty catheter segment, which includes peripherally inserted central catheters, central venous catheters, and hemodialysis catheters. This segment should reach $3.7 billion by 2021, growing at a five-year CAGR of 5.3%.
Catheters will play an increasingly important role in world healthcare for several reasons, including a globally aging population, an increase in minimally invasive surgeries, an increase in heart-related diseases and obesity-related diseases, more emphasis on diagnostic procedures, an increase in effective therapies, better treatment outcomes and continuing demand for high quality healthcare.
The market for catheters in medically advanced regions such as the U.S. and Western Europe is more mature, particularly for products in the urological and intravenous areas. Growth in developed regions will stem mainly from the introduction of advanced catheters during the forecast period, an increase in the over-65 segment of the population, and the continued rise in chronic diseases like heart disease.
The U.S. remains the most significant source of revenue for catheter manufacturers, but decreasing market share in the U.S., Europe and Japan will be absorbed by the rest of the world, primarily China, Russia, Eastern European countries and Brazil.
“Although the market for specialty catheters exists primarily in developed countries, global market penetration for catheters is spreading to emerging markets, where companies are projecting strong growth,” says BCC Research analyst Melissa Elder. “Growing affluence in these countries has led to individuals demanding better quality healthcare services, including procedures that require the use of catheters.”
Global Markets for Catheters (HLC019G) analyzes the industry by important segments including cardiovascular, urological, neurovascular, intravenous and specialty catheters. The report examines areas of catheter applications poised for growth and the factors driving this growth. Analyses of global market drivers and trends with estimates for 2016 and projections of CAGRs through 2021 also are provided.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at email@example.com.
Global Markets for Catheters( HLC019G )
Publish Date: May 2016
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.