Many sectors within the $15 billion catheter market are poised for growth in the next five years, according new market research from Kalorama Information. Due to an aging population, catheter usage in hospitals, nursing homes, and the homecare sector has been on the upswing over the last several years. The growth has challenged the industry, but manufacturers have met this with the development of innovative drug-coated catheters and other innovations, according to the report. Further innovations will be key to additional growth. One example is the coronary catheter market which stands at $5.5 billion globally and is growing at a double-digit rate, and accounts for nearly 52 percent of the total market in terms of value. The changes are largely associated with the highly-innovative, effective, minimally-invasive devices that have been brought to the market, the research group stated. “The demand for premium, high-cost catheters is moderate to low in Asia, Eastern Europe and Latin America, unlike the U.S., Europe and Japan which are the dominant markets,” said Joseph Constance, the report’s author. “However, there has been an increasing demand for simple, easy-to-use catheters on these fronts which should continue to help drive market growth in these less prosperous countries.”
The Worldwide Market for Catheters is available here: http://www.kaloramainformation.com/pub/1190874.html.