The global catheters market is expected to
reach USD 46.05 billion by 2020, according to a new report by Grand View
Research. Key factors driving the market growth include growing prevalence of
obesity, diabetes and cardiovascular diseases and rising demand for minimally
invasive procedures. Introduction of advanced catheters with improved
efficacies and increasing number of minimally invasive procedures in emerging
Asian markets such as China and India are expected to support the market
growth.
Research improvements in clinical
trials to inhibit the growth of bio-film development on urinary catheter and
introduction of hydrophilic coatings for catheter based delivery systems is
anticipated to upsurge the demand of novel catheters for various surgical
procedures. Furthermore, growth in the global geriatric population, which is
highly prone to infectious diseases, is also expected to attribute towards the
industry growth.
Browse full research report on Global
Catheters Market: http://www.grandviewresearch.com/industry-analysis/catheters-market-analysis
Unhealthy lifestyle habits such
as excessive smoking, alcohol consumption and medical conditions like diabetes
that consequently widens the consumer base by facilitating the need for
catheter in surgical procedures, is anticipated to significantly boost the
usage rate.
Cardiovascular catheters is
estimated to account for the largest share in 2013 over 39.0% owing to the
introduction of technologically advanced devices and high acceptance of this
catheter in cardiac interventional procedures such as angiography and
angioplasty.
However, specialty segment is
expected to witness significant gains with the CAGR over 12.0% during the
forecast period due to the presence of advance product portfolio that meet the
needs of wide spectrum of urological applications such as Foley catheter.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Europe is expected to account for nearly 40% of the global
revenue generated in 2020 owing to the presence of favorable government
initiatives and a sophisticated healthcare infrastructure.
Asia Pacific is expected to
witness the highest growth at a CAGR of 14.3% over the forecast period owing to
novel products development and improving healthcare infrastructure in the
region during the forecast period.
Key players of the catheter
market include Boston Scentific Corporation, Abbott Laboratories, Johnson &
Johnson, C.R Bard, Convatech, Cure Medical, Stryker Corporation, and Covidien.
Constant research activities conducted in R&D departments and introduction
of novel products such as NC Euphora Noncomplaint Balloon Dilation and collaboration
with the International Diabetes Federation by Medtronic Inc, account for some
of key strategic initiatives implemented by the major players.
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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