| The intravenous catheter market in the US was approximately $630 million per year in 1998, with an estimated growth rate of 10.2% from 1998 through 2003. The global intravenous catheter market on the other hand was valued at over $840 million in 1998, with an estimated growth of 10.4% over the same period. Healthcare spending has been rising around the world and the use of hospital and medical rubber products by-and-large depends on healthcare delivery. For example, the US healthcare expenditures totaled US$2.2 trillion in 2006. Similarly, in 2001, for the OECD countries the average GDP expenditure on healthcare was 8.4 percent with the United States (13.9%), Switzerland (10.9%), and Germany (10.7%) being the top three.