APAC Catheters Market

APAC Catheters Market Size (2023 to 2028)

As per our research report, the size of the APAC catheters market is projected to grow at a CAGR of 10.12% between 2023 to 2028.

The catheter market growth in this region is driven by the factors such as increasing focus on minimally invasive surgical procedures over conventional surgeries and the growing prevalence of chronic diseases. On the other hand, the government and private organizations' investments and funding to improve hospital infrastructure are expected to encourage the growth of the Asia-Pacific catheter market. Increasing R&D activities is another significant factor promoting market growth.

The incidence rate of cardiovascular disorders, urological disorders, and diabetics is significantly increasing due to the sedentary lifestyles of people, which is expected to boost the catheters demand in this regional market. Peripheral disease procedures have higher adoption rates that become standard techniques in general surgeries due to the utilization of innovative coated catheters available in the market. These factors expand the market growth. An increasing number of surgical procedures across the APAC region and prostate cancer proliferation is most likely to create market growth. However, a favorable reimbursement scenario and government measures to facilitate better healthcare facilities in the region encourage the catheter market growth. 

However, the availability of alternative treatment procedures for urinary incontinence is one major restraining factor for the market growth. Catheterization is a painful process as it involves the insertion and removal of poorly lubricated catheters that cause friction between the urethral walls and the device's surface. Catheter usage has many disadvantages, which cause pain for the patient and, upon regular use, leads to the narrowing of the urethra, infection, and bleeding.

Impact of COVID-19 on APAC catheters market:

The COVID-19 had negatively impacted the catheters market in the APAC region in the 2020 pandemic period. The pandemic has disrupted the catheter supply chain to Asian countries had been disrupted. Manufacturing of catheters had been stopped and postponed. COVID-19 has resulted in significant disruptions to the businesses and economic activities of Asian countries. Governments and authorities seek to ensure the availability of resources for COVID-19. The decline in the COVID-19 cases led to the uplift of lockdown. Minimally invasive procedures are resumed, growing the inclination of midscale catheter manufacturers to attain the largest market share in the coming years.

This research report on the APAC catheters market has been segmented and sub-segmented into the following categories.

By Product:

• Cardiovascular
• Urology
• Intravenous
• Neurovascular
• Specialty

By Distribution Channel:

• Hospital Stores
• Retail Stores
• Others (online Stores)

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

In the regional market, the Asia Pacific regional market is one of the most lucrative regions in the global catheters market. It is expected to grow at the fastest CAGR during the forecast period. The market growth in this region is due to factors such as increasing disposable income and the existence of substantial unused opportunities in emerging countries. The APAC region's significant contributors are China, India, Japan, Australia, and the rest of Asia.

China is expected to lead the APAC market during the forecast period. China is contributing to the regional market share due to the various influential growth factors. The factors such as increasing awareness among the people regarding the safety measures due to various chronic diseases such as urological disorders and chronic kidney diseases.

India is forecasted to be aggressive in growth during the forecast period due to the increasing number of patients undergoing surgeries, and minimally invasive procedures contribute to the largest market share in this region. Moreover, government supportive policies and incentives are encouraging India's market growth.

Japan and Australia are projected to contribute to the APAC regional market growth. Favorable reimbursement scenario, rise in the prevalence of heart and related diseases, and improved healthcare facilities are most likely to create market growth in this region.

KEY MARKET PARTICIPANTS:

Boston Scientific Corporation, Medtronic, Becton, Dickinson and Company, Abbott, B. Braun Melsungen AG, ConvaTec Group PLC, Coloplast Group, Cook Medical, Edwards Lifesciences Corporation, Johnson & Johnson Services, Merit Medical Systems, Stryker Corporation, Terumo Corporation, Teleflex Incorporated, Hollister Incorporated, AMG International GmbH, Simeks Tibbi Ürünler, Alvimedica, Medinol Ltd and Amsino International, Inc. are a few of the companies dominating the APAC catheters market.