The rising incidence of various chronic diseases such as Cancer, neurological disorders, cardiovascular diseases, and urinary tract infections (UTIs) is a key factor driving the sales of catheters across the globe. As per the 2018 Global Cancer Observatory (GLOBOCAN), “gastric cancer was the third leading cause of cancer deaths worldwide, accounting for 783,000 deaths in 2018, as compared to 723,000 deaths in 2012”. The observatory also says “over one million cases of gastric cancer are diagnosed each year around the world”. 

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Similarly, according to the studies of the American Heart Association (AHA), cardiovascular diseases (CVDs) caused the deaths of over 17.6 million people in 2016. Furthermore, the organization predicts that this number would rise to 23.6 million by 2030. The other major factor fueling the surge in the sales of catheters is their increasing usage in various Homecare Settings mainly for the regular administration and monitoring of medications. The soaring geriatric population around the world is the main factor responsible for the mushrooming usage of these devices in homecare settings.

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This is because the geriatric people are more vulnerable to UTIs as with increasing age, the urinary bladder starts becoming weaker. Moreover, the requirement for catheters and other remote monitoring equipment is very high amongst older people. Due to these factors, the revenue of the global catheter market is predicted to increase from $14.3 billion to $36.0 billion from 2019 to 2030. Furthermore, the market will progress at a CAGR of 8.8% between 2020 and 2030, as per the forecast of the market research firm, P&S Intelligence.