Catheters Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $42.5 billion by 2020, registering a CAGR of 7.5% during the period 2014-2020.Increased usage of catheters in minimally invasive surgeries and the introduction of technologically advanced catheters with improved efficacy contribute to growth of the catheters market. Cardiovascular catheters are the largest revenue generating segment in the overall catheters market.

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The Growing prevalence of cardiovascular diseases, diabetes and urinary diseases is expected to boost demand for catheters. According to the data, 2012 approximately 74,690 new cases of urinary bladder cancer were diagnosed (incidence rate) and it is estimated that, approximately 0.5 million people suffer from urinary bladder cancer (prevalence rate) annually in the United States. Also, catheters are vital component/medical consumable used during several diagnostic procedures. Overall, similar consumption pattern for catheters witnessed in several other medical conditions - has resulted in increased usage of catheters thereby increasing the market size of the global catheters market.

Further Promoting the use/adoption of catheters is innovation and development of variants that overcome drawbacks of the conventional catheters; for instance, development of male external catheters minimizes chances/incidences of urinary tract infection resulting from insertion of catheters in the patient's body.

Going forward, developing regions-India and China catheters markets are expected to offer potential opportunities owing to increasing awareness and adoption of minimally invasive procedures (that necessitate usage of catheters).

Key Findings of Catheters Market:

Cardiovascular catheters segment expected to grow at a CAGR of 7.4% during the forecast period, fastest among all
Urological catheters are the fastest growing segment growing at the CAGR of 8.2% market share by 2020
Currently, North America garners a majority share in the catheters market, in terms of market size North America would reach $16 billion by 2020, with highest CAGR of 5.5%
Asia Pacific market is expected to grow at 8.8% CAGR during the forecast period from 2014-2020 due to improved healthcare infrastructure in emerging economies such as India and China(promoting increased usage of catheters)

Reimbursement for catheters or a catheterization procedure varies per product. Recently, enabling regulation, i.e. the department of Veterans Affairs (VA), recommended a change in the reimbursement of urological catheters - increasing coverage up to 200 sterile single use catheters per month. Such change in policies is therefore estimated to result in an increased market share of urological catheters.

Key companies profiled in the report are Boston Dickinson Ltd, Bard Medicals, Boston Scientific, Hollister Inc., Edwards Lifesciences, B. Braun Melsungen, Arrow Internationals Inc., Medtronic Inc., Medrad (Bayer AG), Johnson&Johnson and Abbott Laboratories. Companies operating in the catheters market focus on several strategies such as product launch, collaboration and acquisition. For example, Bard Medicals's R&D spend of ~8% of the total revenue is intended for development and commercialization of feature-enhanced catheters; overall driving growth of the catheters market.

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