Suction Catheters Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis??Posted by Mrudula Anil Karmarkar on March 20th, 2023 The global suction catheters market size is expected to reach USD 844.1 million by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.2% from 2022 to 2030. Suction catheters help in clearing the respiratory tract of ventilator-dependent patients or patients suffering from respiratory disorders. The rise in the number of people suffering from chronic respiratory illness is proliferating the demand for suction catheters. For instance, as per the Irish Thoracic Society, in 2016, there were 643,580 inpatient hospitalizations in Ireland. Out of which, 32% of inpatients were older than 65 years and over. Respiratory diseases accounted for 19.1% of inpatient hospitalizations in Ireland. The Covid-19 pandemic has highlighted the importance of respiratory medical devices owing to the rise in the number of ventilator-supported patients during the pandemic. In addition, factors such as rising cases of chronic diseases, and an increase in pollution levels are also contributing to heightened demand for suction catheters. In March 2020, U.S. Food and Drug Administration (FDA), granted emergency approval for Vesper, a device developed by Prisma Health that supports patients on ventilators. In addition, during the pandemic, several governments across the globe and healthcare companies were improving medical treatment to treat patients suffering from Covid-19 patients. This in turn increased the use of catheters in emergency clinics and hospitals during the pandemic thereby positively impacting the demand for suction catheters. The rise in investments by the government and players to improve the healthcare industry is also boosting the demand for suction catheters. For instance, as per UK Government, close to 10,000 ventilators were added to the stock. Additionally, Rolls Royce, Ford, and Honda in the UK started manufacturing ventilators to cope with the increasing demand due to the COVID-19 outbreak The major organizations use strategic alliances, such as partnerships and acquisitions, R&D investments, product launches, and approvals, to reinforce their competitive power while expanding their global reach. For instance, in March 2022, Cardinal Health expanded its medical distribution center in Columbus, Ohio. The distribution center is expected to help in streamlining the supply chain and improve operational efficiency. The distribution center will help the company to meet consumer needs. The high prevalence of chronic disorders leading to a rise in hospitalization is driving the growth of the suction catheters market. The rise in funding by government authorities for R&D initiatives is driving the demand for suction catheters. Furthermore, the rising demand for minimally invasive procedures due to advancements in technological innovations is supporting the growth of the market. The growing incidence of indoor and outdoor air pollution, allergens, toxic particles, and tobacco smoking is anticipated to increase the incidence of respiratory ailments. For instance, in 2017, as per the Global Burden of Disease, 4% of the world’s population suffer from COPD, and close to 3.2 million died of respiratory illness. The COVID-19 pandemic has increased awareness of respiratory ailments thereby driving the demand for suction catheters. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/suction-catheters-market-report/request/rs1 The rising burden of healthcare costs due to respiratory illness is driving the demand for suction catheters. For instance, in 2022, the cost of about 378 billion annually was attributable to patients with respiratory diseases in EU member states. Further, as per the Irish Thoracic Society, 25% of children’s consultations with general practitioners in Ireland are for respiratory problems. Respiratory diseases account for 31.9% of inpatient hospitalization of 0-4 -year olds. Suction Catheters Market Report Highlights
The Covid-19 pandemic affected the supply chain in all industries globally. Several industries witnessed a shortage of product inventories and shrank significantly owing to low demand during the pandemic. The availability of vaccines for Covid-19 and the rise in the number of tourists increased the demand for products and services. For instance, as per U.S. Food and Drug Administration (FDA), there was a shortage of latex medical supplies, surgical gowns, testing supplies, syringes, and dialysis-related products. Further, there was a shortage of latex for catheters from Vietnamese plantations as much of the latex and rubber were utilized in the manufacturing of car tires. In addition, as per Medline, a medical supply company to strengthen its supply chain during the pandemic opened five distribution centers in Georgia, Richmond Hill, and Savannah. The rise in the prevalence of chronic respiratory disorders such as asthma, and COPD coupled with the rise in initiatives by players for R&D efforts are driving the demand for the suction catheters market. Further, the rise in minimally invasive surgery is also fueling market growth. In July 2021, Aminso International Inc. expanded its manufacturing and distribution hub in North America. The distribution center helps in the production of the company’s medical devices and other products. The players operating in the market are increasingly focusing on acquisitions, mergers, partnerships and expansion to strengthen their market presence. For instance, in March 2021, Aminso International Inc. launched the AMSure closed suction catheter. The catheter is available in three sizes and lengths. The launch will help the company to garner market share in the industry. Some of the key players operating in the global suction catheters market are:
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