The Global Intravascular Catheters Market reached USD YY million in 2022 and is projected to witness lucrative growth by reaching up to USD YY million by 2030. The market is growing at a CAGR of YY % during the forecast period 2023-2030.
The Intravascular catheter is a thin, flexible tube inserted through a small incision in the skin into the renal pelvis of the kidney. The catheter is secured with a stitch or adhesive tape and connected to a drainage bag, which collects the urine. Intravascular catheters may be used for short-term or long-term kidney drainage, depending on the patient's medical condition.
The Growing Older Population Worldwide
Globally, people are living longer. Today, the majority of people may anticipate living into their 60s and beyond. The number of older people and their share of the population is increasing in every nation worldwide. Based on WHO data one in six individuals on the planet will be 60 or older by 2030. By this point, there will be 1.4 billion people over the age of 60, up from 1 billion in 2020.
The number of persons in the globe who are 60 years or older will double by 2050 close to 2.1 billion. Between 2020 and 2050, the number of people 80 or older is projected to treble, reaching 426 million. As the geriatric population continues to grow, the use of IV catheters is becoming increasingly important in the care of older adults. IV catheters are commonly used in geriatric patients to provide access to the bloodstream for the delivery of medications, fluids, and nutrition.
Alternative Availability for Intravenous Catheters
Intravenous catheters are an important tool in modern medicine, there are several alternatives available that can be used for similar purposes. These alternatives include oral medications, intramuscular injections, and subcutaneous injections. This can limit the demand for IV catheters, particularly in cases where these alternatives are effective. The cost of IV catheters can be a limiting factor for their use, particularly in resource-limited settings. IV catheters can be relatively expensive, and the cost can increase if complications or infections arise.
The COVID-19 pandemic had a considerable impact on the intravascular catheter market. On the one hand, the increased demand for medical devices and supplies during the pandemic has led to a surge in demand for intravascular catheters in certain regions.
As the pandemic has spread, there has been a surge in demand for critical care services, including the use of intravascular catheters for patients who require intensive care. This has led to increased demand for catheters in certain regions, particularly those that have been hit hardest by the pandemic.
To reduce the spread of COVID-19, many healthcare providers have postponed non-essential medical procedures, including the placement of intravascular catheters for elective procedures.
The global intravascular catheter market is segmented based on product, application, and region.
Owing to the Versatility of the Oncology Products
Intravascular catheters are commonly used in oncology for the administration of chemotherapy, as well as for the collection of blood samples for monitoring treatment efficacy and disease progression. Peripherally Inserted Central Catheters (PICCs) are another type of intravascular catheter that is commonly used in oncology.
These catheters are typically inserted through a peripheral vein in the arm and are threaded through to the superior vena cava. PICCs provide a less invasive alternative to CVCs and can be used for the administration of chemotherapy drugs, as well as for the collection of blood samples.
The Growing Demand for Healthcare Services and the Increasing Geriatric Population
Asia Pacific region has emerged as the dominant market for intravascular catheters in recent years. This can be attributed to several factors, including the growing demand for healthcare services, the increasing prevalence of chronic diseases, and the expanding geriatric population.
As healthcare systems in the Asia Pacific region continue to expand and modernize, there has been a growing demand for medical devices and supplies, including intravascular catheters.
The Asia Pacific region has witnessed a rapid rise in the prevalence of chronic diseases such as diabetes, cardiovascular disease, and cancer. This has led to an increased demand for intravascular catheters for the administration of medication and other treatments.
The major global players in the market include Omron Corporation, Koninklijke Philips N.V, Cook Medical, Allied Healthcare Products, Inc, Becton, Dickinson and Company, Agilent Technologies, Medline Industries, Inc., Boston Scientific Corporation, Johnson & Johnson, GF Health Products, Inc.
Why Purchase the Report?
The Global Intravascular Catheters Market Report Would Provide Approximately 61 Tables, 58 Figures and 195+ Pages
Target Audience 2023