The latest market report published by Credence Research, Inc. The intravascular catheters market is set to reach US$ 8,051.7 Mn by 2027 from US$ 4,034.7 Mn in 2018 showcasing balanced growth at a compounded annual growth rate (CAGR) of 8.0% during the forecast period from 2019 to 2027.
In recent years, the medical sector has witnessed an upsurge in the demand for efficient and minimally invasive diagnostic tools. Among these, intravascular catheters have emerged as indispensable devices, showcasing a robust growth trajectory in the global market.
What are Intravascular Catheters?
Intravascular catheters are slender, flexible tubes inserted into the body’s blood vessels. They play a crucial role in various medical procedures, such as administering medications, fluids, or blood products, as well as facilitating the withdrawal of blood for diagnostic tests. These devices are vital in surgeries, intensive care units, and even in some outpatient procedures.
Factors Driving the Market
- Increasing Hospital Admissions: With the global population aging rapidly and the prevalence of chronic diseases rising, hospital admissions have surged. This scenario has directly influenced the demand for intravascular catheters, given their widespread use in healthcare facilities.
- Technological Advancements: The evolution in catheter technology, such as the development of antimicrobial catheters that reduce infection risks, has been a game-changer. Manufacturers are continually innovating to improve patient safety and procedural efficacy, fueling market growth.
- Preference for Minimally Invasive Procedures: Minimally invasive surgeries offer numerous benefits, including reduced hospital stays, faster recovery, and minimal scarring. Intravascular catheters, being integral to many of these procedures, have consequently seen an uptick in demand.
Browse the Full Report: https://www.credenceresearch.com/report/intravascular-catheters-market
Challenges and Concerns
While the market prospects seem promising, there are challenges. Catheter-related bloodstream infections (CRBSIs) remain a significant concern, potentially hindering market expansion. Furthermore, the need for skilled professionals to insert and manage these catheters is another limiting factor, especially in regions with a shortage of trained medical staff.
Future Outlook
Looking ahead, the intravascular catheters market is poised for continued growth. The introduction of biocompatible materials, advancements in catheter designs, and the integration of smart technologies like sensors and wireless communication will likely steer the market towards new heights.
In conclusion, the intravascular catheters market represents a confluence of demand from rising medical needs and the push from technological innovations. Stakeholders in this market can expect a promising future, provided they navigate the challenges effectively.
List of Companies Covered:
Medical device manufacturers providing intravascular catheters are Boston Scientific Corporation, Terumo Corporation, Medtronic, Plc., Getinge AB, Cook Medical, Johnson & Johnson, C.R.Bard, Inc., McKesson Medical Surgical, Inc., Edwards, Life Sciences Corporation and Coloplast A/S.
By Segmentation Type
By Product Type
- Integrated PIVC
- Short PIVC
By Application Type
- Renal Disease
- Infectious Disease
- Oncology
- Gastroenterology
- Others
By Geography Type
- North America (U.S. and Rest of North America)
- Europe (U.K., Germany, France, and Rest of Europe)
- Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
- Rest of World (Middle East & Africa (MEA), Latin America)
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