The global catheters market accounted for US$ 15.5 billion in 2019. It is anticipated to grow at a CAGR of approximately 8.2% from 2019 to 2030.
Thissignificant market growth can be attributed to theincreasing demand for minimally invasive surgical procedures over conventional surgery. Also, the rising prevalence of chronic disorders, leading to hospitalization;presence of multi-national manufacturers;improving medical facilities; and supportive insurance policies are some of the key factors that willboostmarketgrowth.Extensive research &developments by major companies anduniversities across the globe to makecathetersmorehygienic, safe, and preciseareexpected to further contribute to market expansion.In 2018, Coloplast Corp launched SpeediCath Flex, a soft catheter enabled with a dry sleeve & a flexible tip. These novel catheters have a hydrophilic coating that delivers hygienic, simple,& smooth catheterization.
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