Urinary Catheters Market Anticipated to Grow with an Attractive CAGR of 8.6% During 2018-2025

According to a new market research study titled ‘Urinary Catheters Market to 2025 – Global Analysis and Forecasts by Product and Application, Gender and End User, the global urinary catheters market was valued at US$ 2,526.8 Mn in 2017 and is estimated to reach US$ 4,811.0 Mn by 2025.

The report highlights the trends prevalent in the global urinary catheters market and the factors driving the market along with those that act as deterrents to its growth. The rising number of urinary incontinence and increasing number of benign prostate hyperplasia is expected to increase the demand for urinary catheters over the forecast period. However, the high risk associated to catheter associated urinary tract infection is expected to restrict the market growth.

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The key players operating in the field of urinary catheters worldwide include Boston Scientific Corporation, Medtronic, Urocare Products, Inc., ConvaTec Group Plc, Cure Medical LLC, Medical Technologies of Georgia, Bactiguard, B. Braun Melsungen AG, Coloplast Group, and Hollister, Inc. among others.

The global urinary catheters market is a matured market in the developing countries as well as developing economies worldwide. The market on the basis of product is segmented into Foley catheters, condom catheters and intermittent catheters. The intermittent catheters is expected to dominate the urinary catheters market owing to the high efficiency and reduced risk of infections as well as affordability. On the other hand, Foley catheters and external condom catheters are expected to grow with a moderate CAGR owing to the high risk of infection and other complications associated with them.

Increasing prevalence of urinary incontinence and benign prostate hyperplasia is driving the market for urinary catheters over the forecast period.

The current urinary catheter technologies involves the use of conventional silicone, rubber and other catheter products that are majorly re-usable. However, in order to combat the risk associated with the multiple use of these catheters that include bladder stones and infections can lead to harmful outcomes. Development of single use catheters that reduces risk of urological complications are expected to be used at a significant rate in the fore coming years over the traditional urinary catheters. Additionally, training and education campaigns delivering appropriate knowledge and procedure for self-catheterization is also expected to increase its adoption among both males and females over the years.

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Posted by on Tuesday July 23 2019, 11:45 PM EDT. All trademarks acknowledged. Filed under Biotechnology, Business Services, Diagnostics, Healthcare, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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