InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Centesis Catheters Market Size, Share & Trends Analysis Report By Type (Small-Bore Centesis Catheters and Large-Bore Centesis Catheters), By Procedure (Paracentesis, Thoracentesis, Arthrocentesis, and Amniocentesis), By Application (Diagnostic, Therapeutic, and Palliative Care), By End-User (Hospitals, Ambulatory Surgical Centers)- Market Outlook And Industry Analysis 2031”
The global Centesis Catheters market is estimated to reach over USD 860.68 million by 2031, exhibiting a CAGR of 5.74% during the forecast period.
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Centesis Catheters are produced using plant or animal waste and are environmentally friendly, non-toxic and abundant in nature. Due to growing concerns over the rapid depletion of oil and gas reserves, the adoption of Centesis Catheters is expected to increase in the next coming years. Fluctuations in crude oil prices and rising green chemistry applications in various industries are among the other factors expected to boost the growth of the global Centesis Catheters market. Moreover, shifting consumer preference towards green and sustainable products, coupled with growing urbanization, and high disposable income, are factors expected to create potential revenue opportunities for players operating in the global Centesis Catheters market. Increased investments by major players and new advancements for the development of various end-use products have created lucrative revenue opportunities for major manufacturers and suppliers of the Centesis Catheters. Favorable government initiatives to promote the use of Centesis Catheters owing to vehicle emissions and other environmental concerns are expected to support the growth of the target market. Government initiatives such as “Made in India” and “Made in China” encourage many small players to enter the market, thereby driving the market demand for Centesis Catheters and ultimately increasing competition, boosting market growth.
List of Prominent Players in the Centesis Catheters Market:
- AngioDynamics, Inc. (US)
- ARGON MEDICAL
- Avanos Medical Devices (US)
- Axiom Medical, Inc. (US)
- B. Braun Melsungen AG (Germany)
- BD
- Blue Neem Medical Devices Pvt. Ltd. (India)
- Boston Scientific Corporation
- Braun SE
- Canadian Hospital Specialties Ltd. (Canada)
- Cardinal Health (US)
- Cook Medical (US)
- Galt Medical Corp. (US)
- Guangzhou Leadgem Medical Device Co., Ltd. (China)
- KM Medical (US)
- Medical Components, Inc. (US)
- Medtronic (Ireland)
- Merit Medical Systems (US)
- Mermaid Medical A/S (Denmark)
- PFM Medical, Inc.
- Redax S.P.A.
- Rocket Medical Plc
- Teleflex Incorporated
- UreSil, LLC.
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Market Dynamics:
Drivers-
Growing demand for bioethanol as an alternative fuel in the automotive industry owing to its properties such as reduced carbon dioxide emissions, cost-efficiency, etc., is a key aspect expected to drive the growth of the target market. Increasing demand for Centesis Catheters in the production of intermediate chemical products is another factor expected to contribute significant revenue share in the global Centesis Catheters market. Additionally, the rising demand for Centesis Catheters in packaging materials due to its properties, such as easy disposal, low production cost, and others, is a factor expected to augment the growth of the global Centesis Catheters market.
Challenges:
The prime challenge is the lack of awareness and commercialization regarding bio-based products in developing countries, which is predicted to reduce the growth of the Centesis Catheters market. However, the high cost of Centesis Catheters and the availability of synthetic chemicals are factors expected to hamper the overall development of the Centesis Catheters market over the coming years. Owing to the COVID-19 outbreak, the number of cases has been increasing, which led to a global or partial shutdown to maintain social distancing. According to a recent update, the industries are facing unprecedented economic losses due to disruptions in global supply chains for key players operating in the global Centesis Catheters market. Distributors, suppliers and retailers have inventory but can’t sell, and manufacturers have to stop production from dealing with the shutdown.
Regional Trends:
In the near future, the North American Centesis Catheters market is anticipated to account for a sizable revenue share and to expand at a rapid rate. The growth of the Centesis Catheters market in the region is anticipated to be propelled by factors such as a growing population, accelerated urbanization, rising industrialization, and rising R&D expenditures by key players. In addition, Europe held a considerable share of the market due to its developed economy and growing product adoption. This is due to the prominent participants in the Centesis Catheters market adopting new strategies. In addition, the global Centesis Catheters market has the potential to expand due to the presence of key market players and the increasing collaboration among major players for market penetration in the region.
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Recent Developments:
- In June 2021, JSW Cement Limited entered the construction chemicals sector with a new range of green products that consume less water during usage. It replaces the use of river sand in the concrete pouring process with screening residues, thereby protecting natural resources and helping to prevent landslides, floods and air pollution.
Segmentation of Centesis Catheters Market-
By Type-
- Small-Bore Centesis Catheters
- Large-Bore Centesis Catheters
By Procedure-
- Paracentesis
- Thoracentesis
- Arthrocentesis
- Amniocentesis
- Other Centesis Procedures
By Application-
- Diagnostic Applications
- Therapeutic Applications
- Palliative Care Applications
By End-Use-
- Hospitals
- Ambulatory Surgical Centers
- Other End Use
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Centesis Catheters Market Set to Soar as Healthcare Technologies Advance