Intravascular Catheters Market Size, Growth and Share Analysis by Product (Short PIVC Catheters and Integrated/Closed PIVC Catheters), Application (Renal Disease, Cancer, Gastrointestinal Diseases, Infectious Diseases and other Diseases), End User and Region, Forecast till 2024
— Intravascular Catheters Market Analysis
The Global Intravascular Catheters Market size in 2018 was valued at USD 4,318 million and is likely to grow at a healthy 9.3% CAGR between 2019- 2024, according to the new report by Market Research Future (MRFR). Intravascular catheters, simply put, are thin tubes manufactured of medical grade. These are inserted in the human body, particularly in the veins for treating infectious diseases or performing surgeries. Integrated/closed PIVC catheters and short peripheral intravenous catheters (PIVC) are the two types of intravascular catheters. Owing to its excellent features and plentiful benefits the intravascular catheters are widely used in home care, ambulatory surgical centers, clinics, hospitals, and others for various applications, including infectious diseases, gastrointestinal diseases, cancer, renal disease, and others.
Various factors are adding to the Intravascular Catheters Market growth. As per the latest MRFR report, such factors include an increase in intravascular catheterization procedures, surge in intravascular catheterization labs, and burgeoning demand for minimally invasive procedures for diagnosing and treating various chronic diseases. Besides, increasing prevalence of life-threatening diseases and rising hospitalization rates are also adding market growth.
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On the contrary, growing cases of local site infections and scarcity of skilled technicians are factors that may limit the Intravascular Catheters Market growth over the forecast period.
Intravascular Catheters Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global Intravascular Catheters Market report based on end user, application, and product.
By product, the Intravascular Catheters Market is segmented into integrated/closed PIVC catheters and short peripheral intravenous catheters (PIVC). Of these, the short PIVC segment will lead the market over the forecast period.
By application, the Intravascular Catheters Market is segmented into infectious diseases, gastrointestinal diseases, cancer, renal disease, and others. Of these, renal diseases will dominate the market over the forecast period for the rising prevalence of kidney-related disorders across the world. This will be followed by the cancer segment, which is predicted to grow at a fast pace over the forecast period for the increased patient population lately.
By end user, the Intravascular Catheters Market is segmented into home care, ambulatory surgical centers, clinics, hospitals, and others. Of these, hospitals will have lions share over the forecast period.
Intravascular Catheters Market Regional Analysis
Based on the region, the global Intravascular Catheters Market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will have the lions share in the market over the forecast period. Growing expenditure on R&D by healthcare bodies, increasing adoption of new technology, and increasing per capita healthcare expenditure are factors that are adding to the Intravascular Catheters Market growth in the region.
The Intravascular Catheters Market in Europe is predicted to have the second-largest share over the forecast period. Rising prevalence of chronic diseases, increasing cases of cancer, demand for minimally invasive procedures, and the presence of a developed healthcare system are adding to the Intravascular Catheters Market growth in the region.
The Intravascular Catheters Market in the APAC region is predicted to grow at a fast pace over the forecast period. Government initiatives for healthcare reforms and rising prevalence of chronic diseases are adding to the Intravascular Catheters Market growth in the region.
The Intravascular Catheters Market in the MEA is predicted to have the smallest share over the forecast period for limited access to treatment facilities and low disposable incomes.
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Intravascular Catheters Market Key Players
Leading players profiled in the global Intravascular Catheters Market report include Terumo Corporation, Smiths Medical, Medtronic Inc., McKesson Medical Surgical Inc., Johnson & Johnson, Getinge AB, Edwards Life Sciences Corporation, Cook Medical, Coloplast, C.R. Bard, Inc., and Boston Scientific Corporation.
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