Fact.MR, Dubai: As per a study by Fact.MR, the global intravascular catheters market is expected to witness steady growth during 2021-2031.
Ongoing advancement in snoring treatment devices are presenting growth opportunities for intravascular catheters market
Fact.MR, Dubai: As per a study by Fact.MR, the global intravascular catheters market is expected to witness steady growth during 2021-2031.
According to National Cancer Institute (NCI), around 723,745 people were living with bladder cancer in the U.S. in the year 2018. As per the recent study by NCI, nearly 83,730 new incidences of urinary bladder cancer are expected to be recorded in 2021, with the number of deaths amounting to 17,200 in the U.S.
Rising cases of bladder cancer and other ailments causing urinary incontinence will drive sales of intravascular catheters.
Based on applications, the infectious diseases segment is estimated to register the highest growth, owing to surging incidence of HIV and tuberculosis. Around 10 million people were recorded to be diagnosed with tuberculosis across the globe, with an estimated 1.6 million deaths in 2017, according to the World Health Organization (WHO). This rising incidence of tuberculosis has boosted the sales of intravascular catheters in the infectious diseases segment.
North America is dominating the intravascular catheters with largest market share. Increasing incidence of renal and cardiovascular diseases coupled with presence of major players has made the region center point for the expansion of the market.
“Some of the leading market players are acquiring innovative technologies to furnish the unmet requirements of hospitals and catheterization labs. They are focusing on strategic collaborations and acquisitions to strengthen their position in the market,” says the Fact.MR analyst.
Key Takeaways
- In North America, the U.S. is projected to emerge as a lucrative market due to the increasing patient pool of cardiovascular diseases in the countries.
- Asia Pacific is dominating the intravascular catheters market and is expected to surpass a valuation of US$ 1.2 billion over the assessment period.
- The intravascular catheters market in the U.K. is expanding owing to the presence of well-established healthcare infrastructure.
- Middle East and Africa (MEA) are showing the fastest growth in the market, at a CAGR of 13.3%.
- Short PIVC Catheters account for the largest market share on the back of increasing number of hospitals and catheterization labs.
Key Drivers
- Rising prevalence of urological, cardiovascular, and infectious diseases will fuel the demand for intravascular catheters.
- Increasing number of catheterization labs will boost the intravascular catheter market growth.
- Growing adoption of intravascular catheter to measure pH in children is expected to drive the market growth.
Key Restraints
- High costs compared to other substitutes might hamper the demand for intravascular catheters.
- Risk of various infectious, including catheter-related bloodstream infections, is posing a challenge to market growth.
- Inadequate quality assurance is a factor negatively affecting the growth of the intravascular catheter market.
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Competitive Landscape
Key players operating in the intravascular catheters market profiled by Fact.MR includes Johnson & Johnson, Boston Scientific Corporation, Edwards Life Sciences Corporation, Cook Medical, Getinge AB, McKesson Medical Surgical Inc., Smiths Medical, and Terumo Corporation. Some of the leading market players are entering into collaboration and acquisitions with other competitors to expand their market reach and revenue. For instance,
- In March 2019, Edwards Lifesciences Corporation announced the acquisition of Corvia Medical, Inc.
- In April 2019, the Edwards Lifesciences acquired CAS Medical Systems, Inc.
More Insights on the Intravascular Catheters Market
Fact.MR offers unbiased analysis of the intravascular catheters market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (integrated/closed PIVC catheters and short PIVC catheters), application (cancer, renal disease, gastrointestinal diseases, infectious diseases, and other disease), and end user (hospitals, clinics, homecare, ambulatory surgical centers, and others), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
Explore Fact.MR’s Coverage on the Healthcare Domain -
Tuberculosis Biomarkers Market- Due to the Covid-19 pandemic, demand for tuberculosis biomarkers is expected to fall slightly in 2020. As the economy improves in 2021, market companies are updating their business operations by implementing novel strategies to attract customers in order to reclaim their previous market positions.
Surgical Catheters Market- The global surgical catheters market is growing because to an ageing population and rising occurrences of diabetes, renal failure, and cardiovascular illnesses. In most affluent nations, reimbursements for surgical procedures performed with a surgical catheter are available, but the situation is changing in emerging countries with burgeoning healthcare infrastructure.
Normal Balloon Catheter Market- A normal balloon catheter consists of a catheter and a guidewire that are put into the femoral artery in the legs or the radial artery in the arms to treat restricted blood arteries. Through 2022, sales of normal balloon catheters in cardiac catheterization laboratories are predicted to grow at the quickest rate.
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Source: Fact.MR