The catheter market size was valued at USD 33.04 billion in 2022 and is expected to reach USD 65.29 billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.
- North America led the global market with the highest market share in 2022.
- By Product, the cardiovascular catheter segment has held the largest market share in 2022.
- By Distribution Channel, the hospital stores segment registered the maximum market share in 2022.
Catheter is a hollow thin tube implanted inside human body for curative and diagnostic purpose. It is passed into the bladder to drain the urine. Catheter is made of silicone rubber, plastic, polymers, polyurethane and nylon and available in various lengths such as pediatric, regular and female length. The process of inserting catheter is known as catheterization. The catheterization procedure is followed for various incontinence diseases and it provides permanent or temporary solution to the problem. Catheterization process performed along with the other medical procedures such as cardiac electrophysiology, angioplasty, and neurosurgery in which catheters are used. Various catheters are available in the market such as urinary catheter, neurovascular catheter, cardiovascular catheter, specialty catheters and intravenous catheters. Owing to rapid prevalence of cardiovascular diseases the cardiovascular catheter is widely used across various regions of the world.
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Rising pervasiveness of chronic disorders led augmented number of surgeries thereby creating demand for different kinds of catheters. Increasing product awareness will further fuel the market growth. Changing lifestyle leads increasing occurrences of diabetes cases, cardiovascular and urology disorder and chronic irreversible renal diseases which results in upsurge in the number of surgeries. This will substantially increase the demand for catheter across the world. Further, increasing demand for cardiovascular as well as intravenous products accelerates the global catheter market. Growing preference for minimal invasive surgery drives the catheter market significantly. The major driving factor is the noteworthy market share gained by midscale manufacturers across the globe. The medium scale catheter manufacturer is anticipated to hold the highest share in the market. Increasing funding by government and major players in healthcare for the research and development will lift the growth of the catheter market. The restraining factor of the catheter market is increasing risk associated with the use of catheter which may cause the infection. Moreover, the emergence of antimicrobial catheter due to advancement in technology as well as miniature products reduces the risk of infections. Also technologically advanced cardiac catheterization process focuses on reducing the risk associated with the catheter. Moreover, increasing reimbursement policies and continuous advances in the catheter technology will create better opportunities for catheter market in near future.
Report Scope of the Catheter Market
|Market Size in 2023
|USD 35.22 Billion
|Market Size by 2032
|USD 65.29 Billion
|CAGR of 7.1% from 2023 to 2032
|Fastest Growing Market
|2023 to 2032
|Product Type, Distribution Channel, End User, Lumen, Type, Applications and Regional Scope
Regionally, North America is expected to dominate global catheter market owing to majority of population suffering from diabetes in this region. Since past few years, majority of the deaths caused in America because of the heart disease according to the data published by Centers for Disease Control and Prevention. Europe holds the second largest position in terms of market share of the catheter market owing to improved healthcare infrastructure and funds contributed by hospitals in order to enhance operating capabilities. France, Germany and UK from Europe contribute majorly to the catheter market. Due to enhanced medical treatments and availability of target population, Asia Pacific region is expected to record healthy CAGR over the forecast period. Additionally, favorable government policies and shifting focus of major players towards emerging economies further augments the market growth.
- Global catheter market is extremely fragmented. Major Key players focus on developing advanced technology catheter for increasing convenience for patient.
- Increasing prevalence of chronic diseases across various regions of world and cumulative elderly population drives the regional market growth.
- Increasing government funding and investment from prominent market participants for advanced medical devices will significantly lift the growth of catheter market.
- Huge population across the globe suffering from heart diseases will create substantial opportunities for the catheter market in the forthcoming years.
Key Players & Strategies
Various multinational and national players are operating in the global catheter market. The key players are continuously focusing on technology advancements to remain competitive in the global marketplace. Major players in catheter market are B. Braun Melsungen AG, Coloplast A/S, Hollister Incorporated, Teleflex Incorporation, Bard, Medtronic plc, ConvaTec Group plc, Cook Group, Abbott Laboratories, and Boston Scientific Corporation. In September 2015, Coloplast launched the SpeediCath designed to increase convenience and reducing the urethral damage risk for the patients with chronic urine retention. SpeediCath is smaller than the size of the standard catheter with the enhanced features such as entry and exit of catheter is without touch and is most convenient to use. In January 2018, Abbott introduced HD Grid Mapping Catheter which is the sensor enabled devices designed for cardiac mapping while cardiac ablation in order to treat patients with complex cardiac arrhythmias.
The major key players involved in the global catheter market include:
- Braun Melsungen AG
- Coloplast A/S
- Hollister Incorporated
- Teleflex Incorporation
- Medtronic plc
- ConvaTec Group plc
- Cook Group
- Abbott Laboratories
- Boston Scientific Corporation
Segments Covered in the Report
- PTA Balloon
- PTCA Balloon
- Intravascular Ultrasound
- Central Venous
- Midline Peripheral
- Wound/ Surgical
- Intrauterine Insemination (IUI)
By Distribution Channel
- Retail Stores
- Hospital Stores
- Online Stores
By End User
- Long-term Care Facilities
- Diagnostic Imaging Centers
- Uncoated Catheters
- Coated Catheters
- Prostatic Hyperplasia General Surgeries
- Urinary Incontinence
By Regional Outlook
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Latin America
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