Catheters are thin tubes that can be inserted in the body to treat medical conditions or perform a surgical procedure. The India catheters market has exhibited substantial growth attributed to the increasing prevalence of chronic diseases, rising geriatric population and growing awareness regarding urological diseases. Catheters find wide application in urological procedures like drainage of urine from bladder, kidney stones removal, and urethral strictures.
The Global India Catheters Market is estimated to be valued at US$ 1181.24 Mn in 2024 and is expected to exhibit a CAGR of 17% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the India catheters market are Abbott, Teleflex Incorporated, Boston Scientific Corporation or its affiliates, Coloplast Corp., Edwards Lifesciences Corporation, Johnson and Johnson Private Limited, Medtronic, B. Braun SE, Cook, BD (Becton, Dickinson and Company), Vygon, Cardinal Health, Smiths Group plc., Nipro Medical Corporation, and Argon Medical Devices. The growing geriatric population, increasing prevalence of lifestyle diseases, and improved reimbursement scenario in the country present significant growth opportunities. Furthermore, manufacturers are expanding their production facilities in India to leverage the large patient pool and cost advantages.
Key players analysis
Key players operating in the India catheters market are Abbott, Teleflex Incorporated, Boston Scientific Corporation or its affiliates, Coloplast Corp., Edwards Lifesciences Corporation, Johnson and Johnson Private Limited, Medtronic, B. Braun SE, Cook, BD (Becton, Dickinson and Company), Vygon, Cardinal Health, Smiths Group plc., Nipro Medical Corporation, and Argon Medical Devices.
Key opportunities
The India Catheters Market Demandgeriatric population, increasing prevalence of lifestyle diseases, and improved reimbursement scenario in the country present significant growth opportunities.
Global expansion of market
Furthermore, manufacturers are expanding their production facilities in India to leverage the large patient pool and cost advantages.
Market Drivers
The rising geriatric population in India is the major driver for the catheters market. As per United Nations Population Fund, there were 103 million elderly people in India in 2011 which is projected to increase to 323 million by 2050. The elderly are more prone to urinary incontinence, renal diseases, and other chronic conditions requiring catheterization. This vast untapped population base presents lucrative opportunities for catheter manufacturers.
PEST Analysis
Political: Catheter products fall under medical devices category in India which is regulated by the Central Drugs Standard Control Organization (CDSCO). Any changes in regulatory policies regarding approval process and compliance norms impact the market growth.
Economic: As India aims to become a $5 trillion economy by 2024-25, healthcare spending is expected to rise significantly. Rising income levels enhance affordability of quality healthcare including usage of catheters during treatment and surgery.
Social: Growing elderly population and lifestyle diseases have increased the demand for minimally invasive procedures like angioplasty and dialysis in India which employ catheters. Rising health awareness is positively influencing the market.
Technological: Continuous innovations in materials and designs aid in development of newer and advanced catheters. Technologies like antimicrobial coatings are introduced to reduce infections. Digital connectivity and telehealth especially benefited during the pandemic by reducing hospital visits.
In terms of value, northern and western regions of India constitute a majority market share currently due to concentration of leading healthcare facilities and availability of skilled professionals in cities like Delhi, Mumbai and Chennai.
The southern region is emerging as the fastest growing area for the India catheters market led by states like Telangana and Karnataka. Initiatives by governments to enhance access to healthcare through modern hospitals and initiatives like Healthnet program are drawing more patients and boosting demand in these regions.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)