Technological strides making the Global Catheters Market a secured investment pocket

11 Nov
2014

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Allied Market Research published a report titled “Global Catheters Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020.” The reports forecast the overall market to attain a market size of $42.5 billion by the year 2020 with a CAGR of 7.5% during 2014 – 2020.

Increase in the application of catheters for minimally invasive surgeries and advent of technologically advanced catheters are the driving the growth of global catheters market. Cardiovascular catheters generates maximum revenues for the overall market.

Rising cases of urinary diseases, diabetes and cardiovascular diseases are pushing the growth of global catheters market. In the year 2012, 74,690 cases of urinary bladder cancer were diagnosed and approximately 0.5 million population suffer from urinary bladder cancer in U.S. Further, catheters are used in numerous other medical procedures, which increases its market size.

Support to develop innovative and technologically advanced catheters would help to overcome the limitations of traditional catheters. For example, the risk of urinary tract infection can be reduced in men by inventing external catheters. High cost in neurological & cardiac procedures and lack of skilled and experienced professionals hinder the global catheters market growth.

Cardiovascular catheters market segment would grow fastest with a CAGR of 7.4% during 2013-2020. Urological catheters would grow at a CAGR of 8.2% during the estimated period. North America would have a market value of $16 billion by 2020, with an impressive CAGR of 5.5%. Due to improving healthcare infrastructure, Asia Pacific would grow at a CAGR of 8.8% during 204-2020.

Key companies profiled in the market are:

Boston Dickinson Ltd
Bard Medicals
Boston Scientific
Hollister Inc.
Edwards Lifesciences
B. Braun Melsungen
Arrow Internationals Inc.,
Medtronic Inc.
Medrad (Bayer AG)
Johnson&Johnson
Abbott Laboratories

Akhilesh Prabhugaonkar

Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.

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