Intravascular Catheters Global Market Report 2024: Market Size Set To Reach $12.37 Billion By 2028

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Formative developments in the health sector's minimally invasive procedures coupled with robust global health initiatives have significantly influenced the amplified growth of the intravascular catheters market. According to the Intravascular Catheters Global Market Report 2024, the market size has rapidly escalated and is expected to extend from $6.76 billion in 2023 to reach a commendable height of $7.7 billion in 2024, indicative of a compound annual growth rate CAGR of 13.8%.

Curious About The Current Size And Projected Growth Of The Intravascular Catheters Market?

The Intravascular Catheters Market has been on a consistent rise and is forecasted to witness a sharp ascend in terms of size in the following years. It is anticipated to reach $12.37 billion by 2028 with a Compound Annual Growth Rate CAGR of 12.6% indicative of an exponential growth. Such massive expansion of the market can be understandably attributed to the surge in precision medicine, sustainable healthcare, and telemedicine as well as patient education and engagement, and most importantly the increased use of intravascular catheters.

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What Are The Major Growth Catalysts In The Intravascular Catheter Market Space?

A significant factor propelling the anguished expansion of the intravascular catheters market is the rising rate of hospitalization globally, owing to the high prevalence of chronic diseases. Intravascular catheters are extensively employed during the treatment of chronic ailments for taking samples for tests and fluids, nutrients and blood intake. According to a conservative estimate by Fresenius Medical Care, a renowned German healthcare company, the number of people afflicted by chronic kidney failure will grow drastically from 3.7 million patients in 2021 to approximately 4.9 million by 2025.

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Who Are The Major Stakeholders In The Intravascular Catheters Market?

The Intravascular Catheters market's growth is significantly nuanced by innovative practices and developments adopted by various major contributors like Cook Group Incorporated, Smiths Medical Inc., Edwards Lifesciences Corporation, Medtronic Inc., Johnson & Johnson, Abbott Laboratories, Boston Scientific Corporation, Cordis Corporation, Koninklijke Philips NV, Terumo Corporation and several others known for their integral contributions to the field.

What Are The Emerging Trends In The Intravascular Catheters segment?

A key trend that is rapidly gaining momentum in the intravascular catheters market is the innovation of advanced products by majority players in the market. These innovations aim at fortifying their market positioning. Notably, in July 2022, B. Braun Medical Inc., a German-based medical and pharmaceutical device manufacturing company, launched the Introcan Safety 2 IV Catheter, ingeniously designed with a one-time blood control system. This has successfully made the IV access much safer for clinicians, thus decreasing the potential risk of blood exposure and needle stick incidents.

How Does The Intravascular Catheters Market Segments Look Like?

The fascinating growth in the Intravascular Catheters market covered in our report brings into focus the divided segments that include:

1 By Product: Short PIVC, Integrated/Closed PIVC
2 By Application: Oncology, Gastroenterology, Renal Disease, Infectious Diseases, Other Applications
3 By End-Use: Hospitals, Clinics, Ambulatory Surgical Center, Homecare

A Closer Look At The Regional Insights Into The Intravascular Catheters Market

Consistent with the report, it is noteworthy to draw attention to the massive expansion of the Intravascular Catheters Market in North America, which was the largest regional contributor in 2023. However, Asia-Pacific manifests promising potential, and eyes are on it as it is predicted to be the fastest-growing region in the forecast period.

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Peripheral Vascular Devices And Equipment Global Market Report 2024
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