The global catheters market features a largely consolidated landscape characterized by the dominance of large conglomerate companies and global players, leaving little scope for small- and medium-sized players to secure a firm foothold in the market, finds Transparency Market Research (TMR). Notwithstanding the prominent forces of consolidation, the global market is, unarguably, intensely competition. Top players are required to focus on innovative product launches and are opting cutting-edge strategies to retain their prominence. TMR observes that a number of multinational medical device manufacturers are also harping on entering into collaborations and tapping lucrative avenues in various regional markets, in order to consolidate their positions.
Key players holding a sizeable stake in the global market are Cook Group Incorporated, Teleflex Incorporated, Johnson & Johnson, Boston Scientific Corporation, C. R. Bard, Inc., Medtronic plc., B. Braun Melsungen AG, Becton, Dickinson and Company, and Abbott Laboratories.The global catheters market is projected to rise at a promising CAGR of 7.4% during the forecast period from 2017 to 2025. The opportunities in the global market is expected to reach a worth of US$55.98 billion by the end of this period.
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Broadly, the various product types are cardiovascular, intravenous, neurovascular, specialty, and urology catheters. Of these, cardiovascular catheters is the leading segment expected to collect large revenue over the assessment period. The growth is fueled by the rising prevalence of cardiovascular diseases, along with their growing mortality, affecting worldwide populations.Regionally, North America presently holds the sway by contributing the major share of the global revenue and is expected to retain its lead through 2025. This is attributed to the extensive uptake of various catheterization procedures in patients across the region.