NEW YORK, March 3 /PRNewswire/ -- The world market for catheters was valued at more than $13.5 billion in 2007 and is expected to increase more than 60% in the next five years. 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, catheters used for angiography and angioplasty demonstrating the greatest increase, according to Kalorama Information's new report The Worldwide Market for Catheters.
Cardiovascular disease represents 30% 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 U.S. 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," notes the study's author, Joseph Constance. "Innovation is occurring as new applications open up for catheters, and the U.S. is in the forefront in developing premium catheter technology."
Kalorama Information's report The Worldwide Market for Catheters analyzes 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 this report is the result of primary research interviews conducted with industry executives and researchers, as well as data gathered through secondary research. The report can be purchased directly from Kalorama Information by visiting http://www.kaloramainformation.com/Catheters-1546389/.
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|SOURCE Kalorama Information|
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