The vendor landscape of the global catheters market reflects a
largely consolidated nature, wherein large conglomerates hold
dominant spots and small- and medium-sized companies are left with
less opportunities to explore, observes Transparency Market Research
in a recent report. Despite consolidation, the level of competition
is high and companies are required to focus on the development of
innovative products, collaboration opportunities, and growth
prospects across lucrative regional markets through innovative
marketing strategies to strengthen their hold on the market.
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Some of the leading players in the global catheters market are Abbott
Laboratories, Becton, Dickinson and Company, B. Braun Melsungen AG,
Medtronic plc., C. R. Bard, Inc., Boston Scientific Corporation,
Johnson & Johnson, Teleflex Incorporated, and Cook Group
Incorporated
TMR analysts suggest that the global catheters market will exhibit a
7.4% CAGR from 2017 to 2025, rising to a valuation of US$55.98 bn in
2025.
global catheters market
In terms of the variety of catheter used, the segment of
cardiovascular catheter is presently the dominant contributor of
revenue to the global market. The high prevalence of coronary heart
disease, strokes, and other cardiovascular conditions globally will
continue to lead to a steady rise in demand for various forms of
cardiovascular catheters in the near future, helping the segment
retain its top spot.
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Geographically, the market in North America dominated the global
catheters market is terms of revenue contribution in 2016 and is
expected to dominate the market during the forecast period as well.
Factors such as the robust healthcare infrastructure, high per-capita
expenditure on healthcare, a large pool of patients suffering with a
variety of chronic diseases, supportive medical reimbursement
policies by government as well as private players, and rising numbers
of catheterization procedures will favor the steady expansion of the
catheters market in the region in the near future. Owing to similar
scenario, the market in Europe will also prove to be highly promising
in the near future.
The scope of usage of catheters has continued to expand at a
promising pace in the healthcare sector in the past few years and
these devices have become an integral element of treatment and
diagnosis of a wide range of disorders. The rising prevalence of a
variety of urological, cardiovascular, neurological, and chronic
conditions along with the mounting population of geriatrics, a
demographic which often suffers from incontinence or disabilities
that limit their motor skills, are all contributing to the increased
global demand for catheters of varied forms.
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Vast advancements in the area and the easy availability of advanced,
non-invasive varieties of catheters across all corners of the world,
and the increased demand for minimally invasive procedures are also
proving to be beneficial for the overall development of the global
catheters market over the next few years. Factors such as rising
disposable incomes, increasingly improving healthcare infrastructure,
and increased expenditure on healthcare, especially across developing
economies, are also expected to favor the positive expansion of the
market in the next few years.
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