It is estimated that the global biliary catheters market is expected to register a CAGR 7% during the forecast period of 2019–2024.
Minimally invasive surgery (MIS) can be less disruptive and traumatic for the human body, making it particularly beneficial in elderly patients who are at an increased risk of surgical complications. According to the Population Reference Bureau, the number of Americans ages over 65 was projected to more than double from 46 million in 2014 to over 98 million by 2060. Non-invasive procedures are helpful in the diagnosis of diseases in geriatric patients.
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Increasing geriatric population and preference for minimally invasive procedures has boosted the market growth and is expected to support the market growth forecasted period. The high initial costs and adverse stand is expected to hamper the growth of the market.
The global market has more than 80 companies involved in the manufacturing of the various types of biliary catheters such as biliary balloon catheters, single-lumen biliary catheters, double-lumen biliary catheters, and others. Hence the market is not completely dominated by any one or two players but fairly divided among the top manufacturing companies.
Some of the key players in the global biliary catheters market are Boston Scientific Corporation, Conmed, Cook Medical, Endo-Flex, Rontis Medical, Navilyst Medical, Medi-Globe, Angiodynamics, Medtronic, Abbott Laboratories, C.R. Bard, Inc., Infiniti Medical, Argon Medical, Johnson & Johnson, Merit Medical Endotek, Olympus Corporation, Angio Dynamics, Merit Medical, and others.
The Americas is expected to hold a major share in the global biliary catheters market can be attributed to the surgeon’s preference for laparoscopy over open surgeries, due to the reduced blood loss, minimal scarring, shorter hospital stays, and rapid recovery times.
Europe is expected to hold the second largest share in the biliary catheters market owing to the
increasing prevalence of chronic diseases. Additionally, according to the OECD, the healthcare expenditure in Germany was EUR 321 billion in 2014, which is followed by France with healthcare expenditure of EUR 237 billion. People and healthcare organization in this region are able to afford the high cost of the treatment and devices which has helped in driving the growth of the market. In addition to this, increasing government support and funding for the development and improving technology have fueled the growth of the market.
Asia-Pacific was projected to be the fastest growing region for the global biliary catheters market due to the high adoption of MIS technologies, regulatory requirements regarding patient safety. The Middle East and Africa holds the least share in the market due to fewer initiatives taken by the government.
The global biliary catheters market is segmented on the basis of type, application, and end user.
The biliary catheters market by type is categorized into multi-purpose drainage, multi-purpose drainage sump catheter, biliary drainage catheter, nephrostomy catheter, ureteral stent, and others.
Global Biliary Catheters Market, by Application
- Stent Delivery
Global Biliary Catheters Market, by End User
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