The catheters market has witnessed substantial growth owing to increased prevalence of target diseases and growth in the geriatric population who are more prone to chronic diseases requiring long-term treatment. Catheters are medical tubes that can be inserted in the body to treat diseases or perform a surgical procedure. Catheters are increasingly being used in situations like urinary incontinence, cardiovascular diseases, neurovascular diseases, and urological surgeries. Catheters play an important role in medical procedures by enabling drainage, infusion of fluids, access, or pressure monitoring.

The Global Catheters Market is estimated to be valued at US$ 54.68 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the catheters market are Medtronic, ConvaTec, Inc., Smith Medical (Smith Group Plc.), Boston Scientific Corporation, Hollister Incorporated, and Edwards Lifesciences Corporation, among others. These players are focused on leveraging opportunities posed by the epilepsy treatment market through collaborations and partnerships with other players as well as expansion in emerging geographies. The growing geriatric population and their increasing vulnerability to various illnesses has augmented the demand for catheters globally. Advancements in catheter technology and material such as hydrophilic coatings, drugs coated on catheter surfaces to prevent infection and blockages, and safety engineered catheters has improved outcomes for various catheter-based procedures.

Market Trends

The trend of minimally invasive procedures has gained traction in the catheters market. Catheters are increasingly being used in minimally invasive surgeries as they reduce recovery time, trauma, and risks associated with open surgeries. Catheters are used in catheter-based ablation and angioplasty to treat cardiovascular diseases. Growing adoption of antimicrobial coatings on catheters is another key trend. Catheters coated with antibiotics, silver, or other compounds prevent infections of catheter sites and reduce healthcare costs associated with treatment and extended hospital stays.

Market Opportunities

Rising disease incidence rates especially of aging-related chronic illnesses in developing countries presents lucrative opportunities. The market players are focusing their efforts on these emerging economies. Growing demand for home healthcare and ambulatory services also creates opportunities for Foley catheters and vascular access catheters that can facilitate long-term treatment at home. Development of bioabsorbable catheters that dissolve and do not require removal post-procedure also has strong prospects.

Impact of COVID-19 on Catheters Market Growth

The outbreak of the COVID-19 pandemic has negatively impacted the growth of the global catheters market. During the initial lockdown imposed across various countries, all non-essential medical procedures and surgeries were postponed or canceled to focus medical resources on COVID patients. This resulted in a steep decline in the demand for various types of catheters used in surgeries and procedures. Moreover, supply chains were disrupted worldwide due to transportation restrictions imposed during lockdowns. This led to shortages and delays in the supply of raw materials for catheter manufacturing.

However, with the lifting of lockdowns in 2021, the demand for catheters started recovering. Certain types of invasive procedures saw increased demand as patients sought them to avoid deterioration in their health conditions. The focus also shifted to developing catheters that aid in COVID treatment. For instance, feeding tubes are being used to supply nutrition to critically ill patients on ventilators. Regional medical device manufacturers collaborated with governments to ramp up domestic production of catheters to ensure adequate availability for patients. Hospitals and healthcare facilities implemented stricter safety and infection control protocols for invasive procedures and surgeries using catheters. Looking forward, the market is expected to grow steadily as the pandemic situation stabilizes globally and elective procedures see higher demand to clear the backlog built due to postponed cases during peak COVID waves.

Geographical Regions with Significant Catheters Market Value

North America represents the largest regional market for catheters globally, accounting for over 40% share in terms of value. This is driven by the presence of major medical device manufacturers, high healthcare spending, uptake of advanced catheterization procedures, and growing incidence of chronic diseases requiring catheter use. Within the region, the United States holds the dominant share, given its highly developed healthcare infrastructure and reimbursement facilities.

Asia Pacific exhibits the highest growth and is emerging as an attractive regional market, projected to expand at over 8% CAGR during the forecast period. Factors such as rising healthcare expenditures, increasing medical tourism, growing geriatric population susceptible to catheter-treated conditions, and improving access to quality healthcare are fueling market growth. Rapidly developing countries such as China and India with their large population bases and unmet clinical needs present lucrative opportunities for catheter providers to penetrate and generate higher sales revenues.

Fastest Growing Regional Catheters Market

The Asia Pacific region is poised to be the fastest growing regional market for catheters globally during the forecast period. This can be attributed to various factors. A rapidly growing aging population prone to age-associated chronic diseases in the region is prompting higher usage of catheters. Additionally, rising healthcare infrastructure and expenditures are improving access to advanced catheter-based treatments in Asia Pacific countries. There is also a growing focus on medical tourism with state-of-the-art facilities coming up in countries like India, Malaysia, Thailand, and Singapore, presenting opportunities for catheter sales growth. Furthermore, expanding physician pool and rising awareness about catheter benefits are supporting the market expansion. The emerging economies in the region offer ample opportunities for global as well as local catheter manufacturers to establish themselves and capture sizable market shares.

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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