Catheters Market Size By Product (Vascular Catheters {Cardiovascular Catheters [Electrophysiology Catheters, PTCA Balloon Catheters, IVUS Catheters, PTA Balloon Catheters], Neurovascular Catheters}, Urology Catheters {Dialysis Catheters [Hemodialysis Cath

Catheters Market Size By Product (Vascular Catheters {Cardiovascular Catheters [Electrophysiology Catheters, PTCA Balloon Catheters, IVUS Catheters, PTA Balloon Catheters], Neurovascular Catheters}, Urology Catheters {Dialysis Catheters [Hemodialysis Catheters, Peritoneal Catheters], Urinary Catheters [Indwelling Catheters, Intermittent Catheters, External Catheters]}, Intravenous Catheters {Midline Peripheral Catheters, Peripherally Inserted Central Catheters, Central Venous Catheters}, Specialty Catheters {Wound Catheters, Oximetry Catheters, Thermodilution Catheters}), By Lumen (Single-Lumen, Double-Lumen, Triple-Lumen), By End-use (Hospital & Clinics, Ambulatory Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027

The catheters market is speculated to surpass a considerable valuation by 2027 owing to increasing adoption of minimally invasive surgical procedures across the globe.

Notable technological advancements, along with development of sophisticated ambulatory surgical setups, have augmented industry growth in recent years. Moreover, the expanding geriatric population has fueled market uptake in key regions.

Furthermore, industry players have been engaging in lucrative strategies to capitalize on emerging trends in the market, thereby enhancing overall business dynamics. For instance, in March 2021, B. Braun, a global pharmaceutical and medical company, announced that it had recorded one million sales by December 2020 of its drug-coated coronary balloon catheter, dubbed the SeQuent Please. The SeQuent Please is a coronary balloon catheter that has successfully reduced the risk of vessel narrowing or occlusion among patients suffering from heart ailments.

For extensive assessment, the catheters market has been categorized based on end-use, product, lumen, and region. In terms of product, the market has further been divided into specialty catheters, vascular catheters, intravenous catheters, urology catheters, and others.

The specialty catheters sub-segment was valued at around USD 4,585 million in 2020 and is anticipated to expand at approximately 9.6% CAGR over the forecast period. Widespread utilization of specialty catheters for assisting drainage after bladder or upper urinary tract surgeries to add continuous irrigation capabilities is likely to boost product demand.

From the lumen perspective, the catheters market has been classified into triple-lumen, double-lumen, single-lumen, and others. In 2020, the double-lumen sub-segment recorded a valuation of nearly USD 7,858 million and is slated to develop at a growth rate of above 9.8% through the assessment timeline. Surging demand for double-lumen catheters in the diagnosis and treatment of cardiovascular diseases is set to drive segmental expansion over the forthcoming period.

With respect to end-use, the catheters market has been segmented into ambulatory surgical centers, hospitals & clinics, and others. The hospitals & clinics sub-segment was worth over USD 10,131 million in 2020 and is expected to witness steady expansion through the review timeframe. This growth is attributed to several factors, including the availability of board-certified skilled doctors, high success rate, and faster & more efficient work culture, among others.

On the regional front, the Latin America catheters market registered revenue of around USD 1,381 million in 2020 and is poised to progress at a more than 10.3% CAGR over the analysis period. Rising prevalence of cardiovascular diseases and increasing awareness regarding minimally invasive surgeries across the countries in LATAM are estimated to foster regional market development in the coming time period.