What are the best markets to export catheters?
Catheters are thin tubes made of medical grade material such as plastic, silicon rubber, polyvinyl chloride (PVC), and nylon, which are inserted in the patient’s body for therapeutic and diagnostic purposes. There are a variety of catheters present in the market including cardiovascular catheters, neurovascular catheters, urinary catheter, intravenous catheters, and specialty catheters. Moreover, among these aforementioned catheters, cardiovascular are the most widely used catheters.
The global catheters market is projected to reach USD 24.2 billion by 2025 from USD 15.9 billion in 2020, at a CAGR of 8.7%. Significant increase in prevalence of chronic diseases such as cardiovascular diseases, diseases associated with urinary bladder, kidney failures, and others are the major factors that drive the global catheters market.
Ireland with net balance of exports more than 774 million USD was the biggest exporter of catheters with growth rate of 1.4% annually in quantity of export at 2019. Mexico, Netherlands, Costa Rica, USA, Malaysia, Germany, Singapore, Vietnam, Hungry and Dominican are other countries with considerable world market share (annual net export more than 20 million USD) of catheters.
India has the most growth rate of export among exporters with growth rate of 34% in quantity from 2015 to 2019. From internal market point of view, India will exhibit 16.3% CAGR from 2019 to 2025 in the catheters market. The expansion is attributed to rising prevalence of chronic disorders, improving disposable income and growing penetration of health insurance.
Although Japan, China, UK, Italy and France will be the biggest markets for export of catheters, UK, Indonesia, Azerbaijan, Slovenia and Pakistan are major countries with very fast-growing markets of catheters with 6.4%, 6.4%, 4.2%, 4% and 2.8% annual growth in quantity of imports.
Japan with a population of 126.5 million, is the biggest country provides catheters from import. More than 36% of catheter in this country supplied from USA. Ireland, Costa Rica and China are other exporters of catheters to Japan. Even Malaysia, Thailand, Vietnam and others has some small share in this market (figure 8).
China is the second biggest importers of catheters with more than 155 million USD net import of these kinds of products for its consumption mostly from the USA (more than 35% import). Mexico, Japan, Germany are other most important exporters of catheters to China.
United Kingdom as the third biggest net importer of catheters products in 2019 is very dependent to European exporters of catheters. It imports most of products from Netherlands, Germany (from B. Braun Melsungen AG corporation), Belgium and Hungary. But this market is not limited to European exporters when India, Mexico, China and Malaysia have niche market share in UK. Also, in UK, ConvaTec Group as one of the biggest producers of catheters, supplies most of the market demand.
For more information about best target markets to export catheters, contact Solutia International Business Group (Call (Whatsapp): +989123327043 or Email: Manager@Solutia.ir)