Catheters Market size to exceed $73bn by 2024: Global Market Insights Inc. Catheters Market size is estimated to reach USD 73.7 billion by 2024; as per a new research report by Global Market Insights, Inc. Technological innovation in the form of contact force-sensing, touch free, and antimicrobial products should drive global catheters market size. Growing prevalence of hospital acquired infections (HAI), and consequent adoption of technologically advanced products will drive industry demand. Introduction of catheters impregnated with chlorhexidine-silver sulfadiazine and with minocycline and rifampin will prevent related intravascular infections. The patient trend shift from traditional interventions towards minimally invasive procedures along with growing incidence of cardiovascular, neurovascular and kidney related disorders will boost demand expansion. High usage rates of cardiovascular products owing to large volumes of interventional cardiology procedures accounted for the largest segment share, while specialty catheters are identified to be the most lucrative segment owing to the paradigm shift towards minimally invasive ablation procedures.
U.S catheters market size with over USD 8.6 billion in sales for 2015 leads the global industry. However, growth opportunities are offered by Asia Pacific and Latin American countries owing to huge untapped potential coupled with the implementation of government initiatives towards improving healthcare access in the emerging countries of China, India, and Brazil. Established players in the catheters market share such as Boston Scientific Corporation, Abbott Laboratories, Johnson & Johnson, Medtronic Inc., Teleflex and Coloplast Inc. are exploring growth opportunities by implementation of expansion strategy in emerging countries.
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