According to a new report published by Allied Market Research, titled, “Catheters Market by Product: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the global catheters market was valued at $10,703 million in 2017 and is projected to reach $19,976 million by 2025, growing at a CAGR of 8.0 % from 2018 to 2025. North America was the highest revenue contributor in 2017 and is expected to remain the same throughout the forecast period.
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Key Findings of the Study –
- Based on product, the cardiovascular catheters segment accounted for nearly half share of the catheters industry in 2017.
- The urological catheters segment is anticipated to grow with the highest CAGR throughout the forecast period.
- Based on region, North America accounted for a major share of the global catheters market in 2017.
- Asia-Pacific is anticipated to grow at the highest rate in the catheters market during the analysis period, followed by LAMEA.
Catheter devices have gained popularity in recent years due to the significant increase in cardiovascular and urological diseases worldwide. The increasing demand for minimally invasive surgery for the diagnosis and treatment of heart diseases, neurological diseases and other diseases is driving the growth of the catheters market. In addition, catheter-based surgery is less invasive and requires a shorter recovery time. Surgery performed using a catheter is painless and provides a quick recovery.
On the basis of product, the cardiac segment accounted for the majority of the catheters market share in the global market in 2017. This is due to the significant increase in heart disease and heart disease around the world and the increase of the use of these catheters for treatment. his own. However, the urology catheters segment is expected to show significant growth during the forecast period due to the significant increase in the geriatric population and the use of these catheters for non-compliance.
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North America was the leading revenue contributor to the global market in 2017, owing to highly advanced healthcare infrastructure and new product launches by the key players. Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, owing to the increase in awareness among healthcare professional regarding use of catheters for the treatment and diagnosis of various disease including urological, kidney failures, and others.
Key Market Players –
Major key players that operate in the industry are Abbott Laboratories, Becton Dickinson And Company, Boston Scientific Corporation, B. Braun Melsungen AG, Teleflex Incorporated, Johnson & Johnson, Medtronic, Inc., Edwards Lifesciences Corporation, Cook Medical, and Stryker Corporation.
By Region –
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
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