Global Market for Catheters Projected To Reach Nearly $42.4 Billion in 2019; Cardiovascular Use Growing At 9.7% CAGR
The global catheters market is expected to grow to nearly $42.4 billion by 2019, and register a five-year compound annual growth rate (CAGR) of 8.2%. The cardiovascular-use market is the fastest growing segment with a CAGR of 9.7%.
Wellesley, Mass., (PRWEB) March 31, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, GLOBAL MARKETS FOR CATHETERS, the global catheters market is expected to grow to nearly $42.4 billion by 2019, and register a five-year compound annual growth rate (CAGR) of 8.2%. The cardiovascular-use market is the fastest growing segment with a CAGR of 9.7%.
The global market for catheters has grown significantly as interventional and less invasive procedures have become more popular, a factor driven by increasing worldwide incidence of obesity, diabetes, and cardiovascular disease. Indeed, the cardiovascular-related catheters segment, the largest in this market, is expected to reach $27 billion in sales by 2019.
The second fastest moving market is the specialty catheter segment, which includes peripherally inserted central catheters, central venous catheters, and hemodialysis catheters. This segment is forecast to grow at 6.4% CAGR and reach $2.7 billion by 2019.
"Although the market for specialty catheters exists primarily in developed countries, global market penetration for catheters is spreading to BRIC (Brazil, Russia, India, China) countries, where companies are projecting the fastest growth," said BCC Research healthcare analyst Peggy Lehr. "The U.S. remains the most significant source of revenue for catheter manufacturers, but decreasing market share in the U.S., Europe, and Japan will be absorbed by the rest of the world, primarily China, Russia, Eastern European countries and Brazil."
Global Markets for Catheters provides an overview of the global catheters market, including the cardiovascular, urological, neurovascular, and intravenous catheters segments, as well as specialty products. It presents an analysis of each segment, identifies its current market status, and assesses the segment's impact on future catheter sales. In addition, the study analyzes global market trends, with data estimates for 2014, and projections of CAGRs through 2019. Catheter material analysis, regulatory issues, and the latest technological trends are also covered.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
For the original version on PRWeb visit: http://www.prweb.com/releases/2014/04/prweb11719028.htm