Catheter Market Share, Trends and Growth Insights
The United Nations (UN) states that for the first time in history, people aged 65 years or more outnumbered children below 5 years of age in 2018, globally. As per the UN, approximately 16% of the world’s population will be aged over 65 years by 2050 and the number of persons aged 80 years or more will surge from 143 million in 2019 to 426 million in 2050. This age pool is creating a significant requirement for urological and intravenous catheters in homecare settings due to its weak urinary bladder and extensive need for regular monitoring. Additionally, the surging prevalence of chronic diseases, such as autoimmune diseases, including type 1 diabetes, inflammatory bowel disease, and systemic lupus erythematosus; neurological disorders, cancer, and cardiovascular diseases (CVDs), will help the catheter market exhibit a CAGR of 8.8% during 2020–2030. The market revenue stood at $14.3 billion in 2019, and it is projected to reach $36.0 billion by 2030. For example, according to the...