The prevalence of chronic diseases, such as cancer, cardiovascular diseases, urinary tract infections, and neurological diseases, is increasing rapidly across the globe, which is leading to the rising demand for medical devices, such as catheters. For example, as per the Global Cancer Observatory 2018, the third leading cause of cancers globally was gastric cancer, which accounted for 783,000 deaths in 2018, rising from 723,000 deaths in 2012.
Among all these, the demand for cardiovascular catheters was the highest in the past, which is majorly ascribed to the surging incidence of cardiovascular diseases around the world. The requirement for these devices also witnessing growth because of their increasing utilization for diagnosing and treating cardiovascular diseases. Different types of cardiovascular catheters are intravascular ultrasound/optical coherence tomographic, electrophysiological, balloon, and angiographic. Other than this, the demand for urological catheters is also predicted to grow considerably in the years to come, which is primarily due to the increasing geriatric population.
Geographically, North America was the major consumer of catheters in 2019, which is ascribed to the rising healthcare expenditure, increasing prevalence of chronic diseases, growing aging population, presence of key companies, and surging number of initiatives that are being taken by private and public organizations for creating awareness regarding the usage of catheters. Apart from this, the Asia-Pacific (APAC) region is projected to emerge as the fastest-growing catheter market in the coming years. This can be primarily due to the enhancing healthcare infrastructure and presence of key companies in the region.
In conclusion, the demand for catheters is growing because of the surging prevalence of cardiovascular diseases around the world.
