Catheters Market Prepares for Significant Expansion: Anticipating a Growth Rate of 7-8% by 2028

 

The rising prevalence of chronic diseases associated with urinary disorders and kidney failure, rising demand for minimally invasive surgical procedures, rising cases of incontinence caused by the global rise in the geriatric population, and technological advancements in catheters are the key factors driving the market. Fill out a simple inquiry for a sample report to discover more about the research.

A catheter is a type of medical equipment that is used for therapeutic treatments, disease management, or surgical operations. It is introduced into the body to help with bodily fluid evacuation or to give drugs.

Urological Catheters are becoming more popular as the global prevalence of urinary incontinence rises.

Urinary incontinence is a global health and social concern, affecting about 400 million individuals worldwide. This figure is continually rising, and globally, one in every three women over the age of 35 and one in every four males over the age of 40 suffer from incontinence.

The rising global prevalence of urine incontinence is expected to drive the global market in the future years. According to figures from the Association for Women's Health Care, women are twice as likely as males to have urine incontinence. Stress incontinence affects one-third of women over the age of 35, and it affects around half of all women over the age of 65. In addition, 1 million US males suffer from stress urinary incontinence, while 18 million US women suffer from involuntary pee leakage. These results show that the population has a greater prevalence of stress urine incontinence. The growing prevalence of urine incontinence throughout the world is an important factor that is likely to increase global use of urological catheters.

Technological Progress Fuels the Global Catheters Market

Catheter sales are expected to rise as demand for minimally invasive treatments rises as a result of technology improvements. The use of antimicrobial coatings and smaller catheters to avoid restenosis, or the return of blood artery constriction in later phases, is a significant advancement. These operations, which have become regular practices in general surgery due to the availability of improved technology and new coated catheters, are being driven by peripheral disorders, which are strongly connected to chronic ailments such as diabetes. Notably, patients' growing preference for angioplasty over traditional operations, owing to its minimally invasive nature and superior results, has contributed to the increased use of minimally invasive treatments and favored market growth.

Citing the lucrative prospects of the market, several players have launched technologically advanced products in the market, which are expected to further drive the market. For instance,

·        In May 2023, Abbott received FDA approval for their Tactiflex ablation catheter, which was designed to treat irregular cardiac rhythms. This catheter, which has a unique flexible electrode tip and contact force sensing, is designed to treat people who have atrial fibrillation.

Catheters Market Competitive Landscape  

Some of the key players operating in the market include Medtronic, Teleflex Incorporated, Abbott, B. Braun Melsungen AG, Edwards Lifesciences Corporation, Coloplast, Johnson & Johnson Services, Terumo Corporation, Becton, Dickinson and Company, Boston Scientific Corporation, ConvaTec Group, Hollister Incorporated, Stryker, Cook Medical and Merit Medical Systems, among others.

Organic and inorganic growth strategies used by firms to get a market foothold

To improve their market position and increase their client base, players in this market are pursuing organic and inorganic growth methods such as getting regulatory permissions, releasing new products, making strategic investments, and pursuing mergers and acquisitions. For instance, 

·        In February 2023, Teleflex disclosed that the 510(k) clearance from the U.S. FDA had been granted to its Triumph Catheter. This catheter, distinguished by its innovative design facilitating precise wire advancement and clear visualization, marks a significant milestone

·        In December 2022, Boston Scientific revealed a strategic investment to acquire a majority share in the Chinese medical technology firm Acotec Scientific Holdings Limited. Acotec is recognized in China for its thrombus aspiration catheters, and RF ablation technologies. Boston Scientific's objective is to enhance its regional standing through this strategic partnership.

·        In 2022, B. Braun Melsungen introduced Dican Flex, single-use safety catheters for peripheral vascular access in extracorporeal blood purification therapy

The Catheter Market is expected to gain traction in the future years as a result of the rising acceptance of antimicrobial catheters, greater awareness and adoption of catheters in emerging regions, the use of advanced materials in catheters, and home healthcare souring catheter innovation.

Get Detailed Insights on the Catheter Market @ https://meditechinsights.com/catheter-market/

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