The global catheter market size was valued at USD 37.3 billion in 2018 and is expected to witness a CAGR of 9.7% over the forecast period. Rising prevalence of chronic disorders leading to hospitalization has fueled the growth of this market. Presence of multi-national manufacturers, improving medical facilities, supportive insurance policies are also some of the key factors propelling the market growth.
Cardiovascular, urology, and neurology diseases have become the most dominant cause of mortality and morbidity in the world during the last three decades. Rising cases of diabetes, Cardiovascular Disorders (CVDs), urology disorders, End-Stage Renal Disease (ESRD), and other chronic conditions due to sedentary lifestyle are propelling the market growth.
Increasing number of surgeries being performed due to rising cases of chronic diseases is expected to increase the demand for catheters, which will drive the market. Rising awareness about the product has also boosted its demand. In addition, increasing number of midscale catheter manufacturers gaining a higher market share is expected to promote the market growth.
Furthermore, rise in funding by various government bodies and medical device manufacturers for R&D will boost the catheter market growth. However, requirement of intensive capital for the development of advanced devices may obstruct market development. North America was the dominant regional market in 2018. However, Asia Pacific is anticipated to witness the fastest CAGR over the forecast period owing to the presence of target population and improving medical facilities.
Based on the product, the market is segmented into cardiovascular, urology, intravenous, neurovascular and specialty catheters. The cardiovascular segment is further segmented into four categories where Percutaneous Transluminal Coronary Angioplasty (PTCA) balloon was the dominant sub-segment with over 30% of the market share in 2018. Intermittent catheters have highest market value in the urology segment owning to increasing geriatric population.
Peripheral and wound surgical catheters dominate the intravenous and specialty segments respectively. The repeated product usage leads to Catheter-associated Urinary Tract Infections and Central Line-associated Blood Stream Infection. As a solution to this, companies have introduced antimicrobial products to reduce such infections.
On the basis of distribution channel, the market is divided into hospital stores, retail stores, and others (online stores). Hospital stores was the largest segment in 2018. It projected to expand further and maintain its leading position on account of increasing number of patients being admitted in hospitals due to surgeries, therapies, and treatments.
The retail stores segment is expected to register the fastest CAGR over the forecast period. This growth is attributed to the increasing cases of urological issues. The others or online stores segment is also likely to witness significant development from 2019 to 2026 due to growing popularity and usage of e-commerce platforms.
North America is the largest regional market due to the presence of multi-national manufacturers and sophisticated healthcare infrastructure along with high product awareness levels. Asia Pacific is projected to expand at the maximum CAGR of 10.4%, over the study period. Presence of target population suffering from kidney and cardiovascular problems and improving medical facilities in the region lead to market growth. Favorable government policies, product launches and approvals, and innovations in the field are expected to further boost the regional market growth.
Some of the key companies in the global market are Medtronic Plc.; Convatec Corp.; Smiths Medical, Inc.; Boston Scientific Corp.; and Coloplast A/S. Companies focus on M&A and new development to increase their global reach and to gain higher market share. Terumo Corp. acquired a U.S.-based medical device manufacturer, Sequent Medical through its subsidiary in U.S.
Base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2026
Revenue in USD Million and CAGR from 2019 to 2026
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
U.S., Canada, U.K., Germany, France, Italy, Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, Columbia, South Africa, Saudi Arabia, and UAE
Revenue forecast, competitive landscape, growth factors and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global catheter market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2015 - 2026)
Intravascular Ultrasound (IVUS)
Intrauterine Insemination (IUI)
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2026)
Others (Online Stores)
Regional Outlook (Revenue, USD Million, 2015 - 2026)
Middle East & Africa
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.