SAN FRANCISCO, Jan. 13, 2021
SAN FRANCISCO, Jan. 13, 2021 /PRNewswire/ -- The global catheter market size is anticipated to reach USD 74.84 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2021 to 2028. The increasing prevalence of chronic diseases and improving medical facilities are some of the prime attributes boosting the market growth. Moreover, the rapidly growing geriatric population base has led to increased hospitalization rates and surgeries, which is anticipated to boost the market growth.
Key suggestions from the report:
Read 140 page research report with ToC on "Catheter Market Size, Share & Trends Analysis Report By Product Type (Cardiovascular, Specialty), By Distribution Channel (Hospital Stores, Retail Stores), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/catheters-market-analysis
The rise in the prevalence of various chronic disorders, such as cardiovascular disorders, urology disorders, strokes, and other chronic conditions, is expected to increase the demand and use of catheters in medical settings. As per the WHO, every year, 41 million people die due to chronic illnesses, which accounts for 71% of all deaths globally and 60% of the global burden of disease in 2020. Thus, with the rise in these diseases, the use of catheters is bound to increase over the study period. Moreover, an increasing number of people in developing countries of APAC and Latin America are suffering from diabetes owing to factors, such as sedentary lifestyle and dietary irregularities. This, in turn, is expected to boost the use of catheters in medical settings.
Technological advancements play a crucial role in driving the catheters market. For instance, the introduction of miniaturized and antimicrobial catheters to reduce catheter-associated infections is expected to favor the market growth. For instance, Teleflex introduced Arrow acute hemodialysis catheters based on ARROWg+ard Antimicrobial Technology, which is known for its broad-spectrum of antimicrobial protection.
Grand View Research has segmented the global catheters market on the basis of product type, distribution channel, and region:
List of Key Players of Catheter Market
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