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Global Catheter Market Trends, Segment Analysis, Growth Drivers and Forecast to 2030
The demand for catheters is growing because of the surging prevalence of cardiovascular diseases around the world.
By: P&S Intelligence
A catheter is a medical device that is passed into the bladder for draining urine. These devices are at time important for people who are not able to empty their bladders in the usual way, which can be due to different medical conditions. As per a P&S Intelligence report, the global catheter market is projected to attain a value of $36.0 billion by 2030, rising from $14.3 billion in 2019, advancing at an 8.8% CAGR during the forecast period (2020–2030)
In addition to this, these catheters also have the ability to remove toxic fluid from kidneys. Catheters have different shapes, namely amplatz, pigtail, bypass, judkins left, and judkins right, out of which, the demand for pigtail catheters was the highest in the past. The high adoption of these catheters can be ascribed to the fact that are flexible, smaller in size, ensure easy insertion for diagnosing or treating blockages in blood vessels, and less traumatic. The utilization of these catheters is further expected to be the highest in the near future due to their association with low rate of complications.
Geographically, North America was the major consumer of catheters in 2019, which is ascribed to the rising healthcare expenditure, increasing prevalence of chronic diseases, growing aging population, presence of key companies, and surging number of initiatives that are being taken by private and public organizations for creating awareness regarding the usage of catheters. Apart from this, the Asia-Pacific (APAC) region is projected to emerge as the fastest-growing catheter market (https://www.psmarketresearch.com/