DUBLIN, May 13, 2022 /PRNewswire/ — The “Global Catheter Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
This report provides an all-encompassing analysis on the Global Catheter Market. The market will be US$ 68.95 Billion by 2027.
The plurality of chronic disorders, such as cardiovascular diseases, cancer, urinary tract infections, and neurological diseases, is increasing across the globe, leading to the rising demand for medical devices such as catheters. Catheters are used to deliver medicines and gases into the bodies and are also used in acute care facilities to monitor and manage drainage of bodily fluids, such as urine, during surgery and post-operative recovery. It is manufactured using medical-grade materials, such as silicone rubbers, plastic, latex, polyvinyl chloride (PVC), and nylon.
Global Catheter Industry will grow with a CAGR of 7.3% during 2021-2027
Across the globe, the rising prevalence of urological disorders is one of the key factors driving the market’s growth. Likewise, the increasing geriatric population, which is more susceptible to such diseases and the growing preference for (MI) minimally invasive surgeries provide a thrust to the market growth. These catheters are also widely utilized in hospitals, specialty clinics, and ambulatory surgical for electrophysiological procedures that use catheters to insert wire electrodes to measure electrical activity in the blood vessels entering the heart. Further, various technological advancements, such as the utilization of robot-assisted surgical interventions, are acting as other growth-inducing factors.
COVID-19 Impact on Catheter Industry
In line with this, the COVID-19 scenario profoundly impacts the global catheter market. As the number of cases is still on the rise, the demand for catheters also increases since catheters are used in some critically ill…