The world market for catheters has been valued at more than $13.5 billion in 2007 and is expected to increase more than 60 percent in the next five years according to market analysts Kalorama Information.
The cardiovascular Catheter segment accounts for more than half of the total Catheter market in terms of value and will witness the highest compound annual growth rates according to Kalorama Information’s new report ‘The Worldwide Market for Catheters’. The report highlights that catheters used for angiography and angioplasty will demonstrate the greatest increase. Cardiovascular disease represents 30 percent of worldwide illness and is the number one cause of death. With improvements in healthcare keeping chronic disease sufferers alive for longer periods, it is no surprise that the cardiovascular Catheter segment is producing double digit growth rates. Innovation is also driving growth with the introduction of antiseptic-coated catheters aimed at reducing the 2 million infections contracted by hospital patients in the USA each year, and coronary catheters that have undergone significant changes with highly innovative, effective, minimally invasive devices arriving in the marketplace. “Catheters will be used in smaller incisions or be made of materials that can withstand greater stresses,” noted the study’s author, Joseph Constance. “Innovation is occurring as new applications open up for catheters, and the USA is in the forefront in developing premium Catheter technology.” Kalorama Information’s report ‘The Worldwide Market for Catheters’ analyses the current and potential world market for catheters and reviews the nature and direction of research trends. Market data is provided from 2003 with growth forecasts through 2012 and broken down by urological, cardiovascular, intravenous and specialty Catheter segments. Detailed profiles of over 35 major players are presented. The information presented in the report is the result of primary research interviews conducted with industry executives and researchers, as well as data gathered through secondary research.
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