The India catheters market is witnessing high growth driven by rising chronic diseases and geriatric population which is increasing demand for minimally invasive surgeries. Catheters are tubular medical devices inserted into canals, vessels, passageways or body cavities for diagnostic or therapeutic procedures. Catheters help drain out fluids from the body, administer drugs or decompress areas during procedures. As catheters allow treating diseases with minimal intervention and quicker recovery times, their adoption is growing rapidly in India.
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 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 India Catheters Market Demand of chronic diseases such as cancer, cardiovascular, urological and neurological disorders in India is driving the demand for catheters market. As catheters provide minimally invasive treatment options, their adoption is increasing among healthcare professionals and patients.
Major players in the India catheters market are focusing on expanding their footprint through developing innovative products and establishing manufacturing and distribution networks across India. Favorable government policies supporting healthcare infrastructure development and rising medical tourism are also contributing to the global expansion of the India catheters market.
Market Key Trends
Rising geriatric population is one of the key trends driving growth of the India catheters market. Elderly people above 65 years of age have higher risks of various chronic and lifestyle diseases. As advancing age increases the chances of developing complex medical conditions requiring surgical interventions, demand for catheters from this age group is growing substantially. Moreover, technological advancements introducing advanced catheters made of novel materials for improved flexibility, safety and performance are expanding the market potential. Developments like coated catheters preventing infections and thrombus formation are also gaining traction.
Porter’s Analysis
Threat of new entrants: Low barriers to entry as catheters manufacturing requires technical expertise and availability of raw materials.
Bargaining power of buyers: Moderate bargaining power due to availability of substitutes and established buyers network for hospitals and healthcare facilities.
Bargaining power of suppliers: High dependence on suppliers of raw materials like silicon, latex and plastic makes suppliers powerful.
Threat of new substitutes: Low threat as catheters have few alternatives for applications like intravenous or urinary catheters.
Competitive rivalry: Intense competition between major multi-national players.
Geographical regions
India’s Western region including states like Maharashtra, Gujarat and Rajasthan account for over 35% of the catheters market value due to higher healthcare infrastructure and expenditure.
Southern states like Karnataka, Tamil Nadu and Telangana are emerging as the fastest growing regional market for catheters with annual growth exceeding 20% on the back of expanding medical tourism and rising medical insurance penetration.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
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.