India Catheters Market is Growing at a Significant Pace

The catheters market in India has been witnessing steady growth over the past few years. According to recent findings, the Indian catheters market was valued at around INR 3000 Crore in 2020 and is projected to reach over INR 6000 Crore by 2025, growing at a CAGR of nearly 14% during the forecast period. Several factors such as rising healthcare expenditure, increasing elderly population, growing number of lifestyle disease & surgical procedures, and emergence of low-cost medical devices are driving the demand for catheters in India.

Rise in Geriatric Population Fueling India Catheters Market Growth

India is undergoing a phase of rapid demographic transition with the geriatric population rising significantly over the past decade. As per United Nations data, India is home to over 100 million elderly people aged 60 years and above. The proportion of elderly population is expected to double to over 20% of the total population by 2050. With age comes higher susceptibility to various chronic and lifestyle diseases. India Catheters are extensively used in the treatment and management of conditions affecting older patients such as urinary incontinence, urinary retention, cardiovascular diseases, and diabetes. Thus, increasing geriatric populace poses as a major growth driver for the catheters market in India.

Advancements in Healthcare Infrastructure Boosting Adoption

Rapid improvements in healthcare infrastructure across Tier 1 and Tier 2 cities over the last 5-7 years have augmented access to advanced medical technologies in India. The government's focus on boosting healthcare spending through initiatives like Ayushman Bharat and expansion of health insurance coverage are encouraging more people to opt for catheter-based treatments. Coming up of modern critical care units, Cath labs, and modular operating rooms are enabling higher uptake of specialty catheters like cardiac, vascular, urology, and peripheral catheters. Leading private hospitals are also actively promoting catheter procedures for their relatively less invasiveness and faster recovery times. All these factors are expected to boost the demand for catheters from hospitals as well as standalone catheterization centers.

Rise in Lifestyle Diseases Propelling Catheters Usage

Emergence of sedentary lifestyles and changing food habits have led to a rapid increase in the prevalence of lifestyle-oriented chronic ailments like diabetes, obesity, and hypertension among Indians in recent times. As per International Diabetes Federation, India is the diabetes capital of the world with over 77 million diabetic patients. These lifestyle diseases often manifest in the form of various urogenital and cardiovascular complications requiring long-term catheterization and management. For instance, diabetes greatly increases the chances of urinary tract issues like urinary incontinence necessitating the need for catheters. Similarly, rising burden of coronary artery diseases, strokes, and peripheral vascular diseases is driving the demand for cardiac and vascular catheterization procedures. This widespread rise in lifestyle diseases presents massive growth opportunities for catheters market.

Increased Focus on Home Healthcare Boosting Catheters Demand

Growing dependency ratio along with preference for enhanced quality of life is driving the demand for advanced home healthcare solutions in India. As per recent studies, home healthcare market in India is likely to reach around INR 400 billion by 2025. Catheters being minimally invasive in nature allow patients to get treatment in the comfort of their home. This advantage coupled with increasing healthcare costs is attracting more patients towards options like home catheterization. Leading companies are expanding their portfolio to include disposable catheters suitable for self/home administration. Government schemes like Ayushman Bharat Digital Mission also focuses on empowering citizens to manage their healthcare needs through digital platforms and connected devices including catheters meant for self-catheterization. These factors are estimated to significantly stimulate the demand from home healthcare and after care segments.

Rising Investments Fueling Production of Low-Cost Innovative Catheters

India has emerged as one of the top destinations for medical devices production globally, given the advantages of skilled workforce, favorable business environment and relatively low manufacturing costs. In order to cater to the price-sensitive domestic as well as emerging markets, several Indian companies have invested heavily in R&D to develop innovative yet affordable catheters. For example, catheters incorporated with antimicrobial technology, advanced hydrophilic coatings, or self-lubricating PTFE materials at much lower price points compared to global brands. Moreover, Indian government's production-linked incentive (PLI) scheme for enhancing domestic manufacturing of medical devices is encouraging global players to set up or expand manufacturing bases in India as well. All these initiatives are strengthening India's presence in catheters segment while addressing the large unmet needs through cost-effective products.

In Summary, to wrap up, rapid expansion of medical infrastructure, growing preference for minimally invasive procedures, escalating healthcare expenditure, rising chronic disease burden and rapid aging of population suggest promising outlook for catheters market in India over coming years. Sustained focus on developing affordable and innovative catheter technologies shall help meet the large unaddressed market needs in an effective manner.

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