(MENAFN- America News Hour) Drainage Catheter Market report which delivers detailed overview of the global drainage catheter market in terms of market segmentation by product type, by application, material used, end user, and by region. Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Drainage Catheter Market
Statistics –
USD 3 billion revenue in 2022 The market size is projected to record a valuation of over USD 8 billion by 2035 The membrane filtration industry is slated to observe 10% growth rate through 2023-2035
The global drainage catheter market is anticipated to grow with a CAGR of ~8% during the forecast period, i.e., 2022–2031. The market is segmented by product type into indwelling catheters, intermittent catheters, and external catheters. Out of these, the indwelling catheter segment is anticipated to garner the largest revenue by the end of 2031, owing to the surge in the prevalence of patient admissions in hospitals, the rise in the number of surgeries, as well as the surge in operating room procedures worldwide.
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The utilization of catheters as basic medical aid in hospitals, followed by the surge in government initiatives for the research and development of healthcare infrastructures, and the growing number of patients with chronic diseases globally, are some of the major growth factors anticipated to drive the growth of the global drainage catheter market during the forecast period.
Geographically, the global drainage catheter market is segmented into five regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to garner the largest share by the end of 2031. An increasing number of hospitals as well as rising needs for medical assistive devices, and others, followed by the growing number of surgeries in the region are some of the major factors anticipated to drive the growth of the market in North America.
According to recent study by Research Nester, the
Drainage Catheter Market
size is anticipated to surpass USD 8 Billion by 2035 and is projected to expand at CAGR of over 10% from 2022 to 2035.
Major players include in the global xx market:
ICU Medical, Inc. Company Overview Business Strategy Key Product Offerings Financial Performance Key Performance Indicators Risk Analysis Recent Development Regional Presence SWOT Analysis
Medtronic Getinge AB Teleflex Incorporated Medela AG Pacific Hospital Supply Co. Ltd. (PAHSCO) Argon Medical Redax S.p.a. Company Diversatek Healthcare Medline Industries, LP. Cook Group Incorporated ATMOS Medizin Technik GmbH & Co. KG
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Growing Use of Drainage Catheter in Various Healthcare Applications to Drive the Market Growth
According to the data published in the ITC Trade Map, the global import value of needles, catheters, cannulae and the like used in medical, surgical, dental or veterinary sciences (excluding syringes, tubular metal needles and needles for sutures) was USD 28,923,464 thousand in 2020, which increased to USD 33,299,752 thousand in 2021.
The growing concern for different types of chronic diseases is increasing, and the wide application of drainage catheters to drain excessive fluids such as urine, mucus, blood, and pus out of the body is expected to drive the market growth. The drainage catheter acts as a major assistive device amongst the healthcare service providers. Such a factor is expected to drive the growth of the drainage catheter market.
However, side effects associated with long-term use of catheters such as bladder spasms, stomach cramps, and risk of getting infections as bacteria enters the bloodstream are expected to operate as restraints to the growth of the global drainage catheter market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global drainage catheter market which includes company profiling of ICU Medical, Inc., Medtronic, Getinge AB, Teleflex Inc., Medela AG, Pacific Hospital Supply Co. Ltd. (PAHSCO), Argon Medical, Redax S.p.a. Company, Diversatek Healthcare, Medline Industries, LP., Cook Group Incorporated, ATMOS Medizin Technik GmbH & Co. KG, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global drainage catheter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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