Based on catheter type, the catheters market in India, Sri Lanka, Bangladesh, and Nepal is bifurcated into therapeutic and diagnostic catheters. The therapeutic catheters are anticipated to be larger and the faster growing category, propelling at a CAGR of 8.4% during the forecast period. Due to increase in the prevalence of CVDs, the demand for therapeutic catheters has risen considerably, as compared to diagnostic catheters.
Based on procedure type, the catheters and bands market in India, Sri Lanka, Bangladesh, and Nepal is classified into transfemoral and transradial procedures. Transfemoral procedure is expected to lead the market, throughout the forecast period. This category is expected to thrive at a CAGR of 6.4% during the forecast period, generating $52.5 million by 2024.
On the basis of application, the catheters and bands market in India, Sri Lanka, Bangladesh, and Nepal is categorized into acute coronary syndrome, pre-operative coronary assessment, coronary evaluation, pulmonary hypertension, peripheral arterial disease, bradycardia, and others. Application of catheters and bands to treat acute coronary syndrome is expected to constitute the largest demand in the market. The market for this category is mainly driven by the increasing prevalence of acute coronary syndrome in India, Sri Lanka, Bangladesh, and Nepal.
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The catheters and bands market in India is expected to generate around $60.0 million revenue by 2024, progressing at a CAGR of 7.2% during the forecast period. The growth of the market may be attributed to the factors such as growing geriatric population, and increasing prevalence of cardiac diseases.
The catheters and bands market in West India is estimated to generate a revenue of $10.7 million in 2018, which is expected to statistically increase up to $17.5 million by 2024, with a CAGR of 8.4%, during the forecast period. Increasing government initiatives are expected to contribute to the growth of the market in this region. For instance, the government of Gujarat launched a healthcare scheme to provide primary healthcare assistance to elderly people at their doorstep in 2018. The plan only charges one-time registration fee of $15 and provides all basic health facilities at their doorstep.
Terumo Corporation; Becton, Dickinson and Company; Medtronic plc; Teleflex Incorporated; Smiths Group plc; Boston Scientific Corporation; Sahajanand Medical Technologies Private Limited; Merit Medical Systems Inc.; Cardinal Health Inc.; Relisys Medical Devices Limited; and Global Surgimed Industries are some of the key players operating in the catheters and bands market in India, Sri Lanka, Bangladesh, and Nepal.
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