In a recently published report, Centesis Catheters Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Centesis Catheters Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Centesis Catheters Market is valued approximately USD 426 million in 2019 and is anticipated to grow with a healthy growth rate of more than 6.9% over the forecast period 2020-2027. Catheter is a type of thin tubes made up of medical grade material (such as plastic, silicon rubber and more), which are implanted in the patient’s body for diagnostic and therapeutic purposes. Centesis catheter is an over the needle catheter mainly intended for small abscess fluid aspirations and short-term drainage procedures. The Centesis catheters are used in a wide range of diseases, such as cardiovascular, neurovascular, urinary catheter, and many more. Thus, increasing prevalence of cardiovascular diseases, growing inclination for image guided Centesis procedures, and rise in demand for minimally invasive surgeries across the globe are the few factors responsible for high CAGR of the market during the forecast period. For instance, according to the American Heart Association, the death occurrence due to cardiovascular diseases was about 17.6 million in 2016, and a number is expected to grow to over 23.6 million by 2030.
Also, as per the Center for Disease Control and Prevention (CDC), about 610,000 die due to heart diseases in the United States every year. This, in turn, is projected to fuel the demand for cardiovascular catheters around the world. With the recent outbreak of Covid-19 across the globe, the apprehension concerning of the shortage of indispensable life-saving devices and other crucial medical supplies is significantly growing in order to prevent the spread of this pandemic and deliver optimum care to the infected patients, which further promoting the market growth in the near future. However, lacking quality assurance, intense price competition at domestic levels and high risk of infection causing due to the use of catheters are the few factors limiting the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Centesis Catheters market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing prevalence of diseases such as cardiovascular and urological, coupled with the availability of well-established healthcare infrastructure in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising incidences of neurovascular and cardiovascular diseases, along with improving healthcare infrastructure would create lucrative growth prospects for the Centesis Catheters market across Asia-Pacific region.
Major market player included in this report are:
Cardinal Health, Inc.
Becton, Dickinson and Company
Boston Scientific Corporation
B. Braun Melsungen AG
Merit Medical Systems, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Bore Type:
Large Bore Centesis Catheters
Small Bore Centesis Catheters
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Ambulatory Surgical Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Centesis Catheters Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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