India Catheter Market: Current Analysis and Forecast (2024-2032)
Emphasis on Product Type (Cardiovascular Catheters, Urology Catheters, Intravenous Catheters, Neurovascular Catheters, and Specialty Catheters); Material Type (Silicone, Polyurethane, Latex, and Others); Region
India Catheters Market Size & Forecast
The India Catheters market was valued at USD 851 million in 2023 and is expected to grow at a strong CAGR of around 17.2% during the forecast period (2024-2032) owing to the increasing prevalence of chronic diseases in the nation.
India Catheters Market Analysis
The growth rate of the Indian catheter market is strong due to increasing cases of chronic diseases, growing population size, and increasing medical technology. As the populations get access to health facilities and health education, there is a need for Urinary catheters, Cardiovascular catheters, and surgical or special-purpose catheters for minimally invasive procedures. Competitiveness is also present due to the participation of domestic and global market players, which results in positive changes for the products.
Recent Developments in the Market
- In October 2022, Union Minister for Health and Family Welfare Dr. Mansukh Mandaviya inaugurated an Advanced Bi-Plane Cardiac Catheterization Laboratory at DY Patil Medical College, Hospital and Research Centre in Navi Mumbai.
- In August 2023, Paras Health Gurugram achieved another remarkable technological milestone by becoming the third medical center in India to adopt the groundbreaking C2 Plus IVL Catheter technology within five days of its launch in India.
- In March 2024, Sri Ramakrishna Hospital launched the Cardiac Cryoablation Catheter System to treat a heart disease called Arrhythmia.
India Catheters Market Trends
This section discusses the key market trends that are influencing the various segments of the India Catheters market, as identified by our team of research experts.
The Polyurethane Segment Transforming Industry
The polyurethane segment is growing at a faster pace in the Indian catheter market due to its features like mechanical strength, compatibility to use in the body, and flexibility. Polyurethane catheters are long-lasting and exhibit a low thrombogenicity and hence are appropriate both for short-term and long-term use, particularly in intensive care. It also explains why the material is gaining popularity among healthcare providers because it will retain its functionality in different environmental circumstances. With growing awareness of the benefits of polyurethane catheters and the growth in manufacturing technologies, this segment will experience higher market penetration in the coming years to cater to the requests for better catheter solutions in India.
West India is Expected to Grow with Significant CAGR During Forecast Period
The West Indian catheter market is expected to record high growth due to improving healthcare facilities, increasing prevalence of chronic diseases, and elevated levels of healthcare awareness among the people. Maharashtra and Gujarat are examples of states where the enhancement in the availability of various types of catheters is due to increased medical facility investments. Due to increasing metropolitan hospital development in the region, many facility services are increasing the utilization of catheterization procedures in various fields such as urology, cardiology, and critical care. Further, the competition among the leading players such as Medtronic, Johnson & Johnson, and other startups in West India serves a competitive environment that creates pressure on manufacturers to provide improved quality catheter products. Growing healthcare policies that offer patient-centered care and demand technological products for surgeries, emergencies, and chronic diseases will provide West India with added advantages in expanding the catheter market: economic location, as well as population requirements for a wide range of catheters.
India Catheters Industry Overview
The India Catheters market is competitive and fragmented, with the presence of several country market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market include Medtronic; Hollister Incorporated; Boston Scientific Corporation; Edwards Lifesciences Corporation; Teleflex Incorporated; Abbott; Convatec; Becton, Dickinson and Company; ANGIPLAST PRIVATE LIMITED; Freudenberg Medical.
India Catheters Market News
- In July 2024, Hyderabad-based startup Mexple, a leader in innovative personal medical products, announced the launch of its groundbreaking UroMen and UroWomen urine collection kits for males and females in the incontinence category with external urinary catheters.
- In February 2023, Coloplast launched a male catheter designed to reduce the risk of urinary tract infections. The new intermittent catheter LujaTM addresses important risk factors for urinary tract infections, a significant burden for people using intermittent catheters as well as healthcare systems as a whole.
India Catheters Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The India catheters market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the India Catheters Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the India catheters market were the three major steps undertaken to create and analyze the adoption of India catheters in major states. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the India catheters market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertaining to detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the India catheters market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the India catheters market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, material type, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the India catheters market. Further, we conducted factor analysis using dependent and independent variables such as the product type, material type, and regions of the India Catheters market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in India catheters market sector across the country
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the India Catheters market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to varied factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast 2032 for different segments and sub-segments across the major markets in India. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the India Catheters market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the India Catheters market regarding products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the India catheters market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, material type, and regions in the India catheters market.
The main objective of the India Catheters Market Study
The current & future market trends of the India Catheters market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a state level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the India catheters market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of product type, material type, and regions.
- Define and analyze the regulatory framework for the India catheters
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the India catheters market for the major region.
- Major Regions in India studied in the report include North India, South India, East India, and West India.
- Company profile of the India catheters market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive state-level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the Indian Catheter market?
Q2: What are the driving factors for the growth of the India Catheters market?
Q3: Which segment has the largest share of the India Catheters market by product type?
Q4: What are the emerging technologies and trends in the India Catheters market?
Q5: Which region will dominate the India Catheters market?
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