Rise in demand for minimally invasive procedures, increase in geriatric population, and surge in adoption of catheters have boosted the growth of the global catheters market. However, rise in catheter-associated urinary tract infections (CAUTI) and inadequate quality assurance hamper the market growth. On the contrary, untapped potential in the emerging economies is expected to create lucrative opportunities in the near future.

Porland,OR, March 13, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Catheters Market by Product (Cardiovascular Catheters, Neurovascular Catheters, Urological Catheters, Intravenous Catheters, Specialty Catheters): Global Opportunity Analysis and Industry Forecast, 2018–2025”. According to the report, the global catheters market was pegged at $10.7 billion in 2017 and is projected to garner $19.98 billion by 2025, registering a CAGR of 8% during the period from 2018 to 2025.

The market is segmented on the basis of product and geography. Based on the product, the market is divided into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters, and specialty catheters. The cardiovascular catheters segment held the largest share in 2017, contributing more than half of the total market. However, the urological catheters segment is projected to manifest the fastest CAGR of 9.0% during the forecast period.

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On the basis of geography, the market is segmented into North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA). The LAMEA region is estimated to portray the fastest CAGR of 10.7% during the study period. However, the North America region held the largest market share, contributing about two-fifths of the total market share in 2017.

The report analyzes the major market players, including Abbott Laboratories, Cook Medical, C. R. Bard, Inc., Terumo Corporation, AngioDynamics, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, Cardinal Health, Inc., Medtronic plc, The Spectranetics Corporation, and BIOTRONIK. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.

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