Urinary Catheters Market is Estimated to Reach US$ 4,811.0 Mn by 2025

According to a new market research study titled Urinary Catheters Market to 2025Global 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.

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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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.

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.

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The report segments the global urinary catheters market as follows:

Global Urinary catheters Market – By Product
Foley
Condom
Intermittent

Global Urinary catheters Market – By Application
Spinal Cord Injury
Urinary Incontinence
Bladder Dysfunction
Benign Prostate Hyperplasia

Global Urinary catheters Market – By Gender
Male
Female

Global Urinary catheters Market – By End User
Long-Term Care Facilities
Hospitals
Others

North America is expected to be the dominant region in the global urinary catheters market. This dominance is primarily driven by the increasing prevalence of various diseases where catheterization is majorly required, rapid growth of the geriatric population, increasing number of hospitals, increasing number of surgeries, and favorable reimbursement policies. According to United States Census Bureau (2017), the number of people aged 65 and above was 47.8 million in 2015 and it is estimated to increase to 98.2 million by 2060. This ageing population is more susceptible to spinal cord injury (SCI), urinary incontinence, and benign prostate hyperplasia. On the other hand, Asia Pacific is expected to witness significant growth in the market owing to factors such as increasing focus of market players developing novel products at affordable prices, developing healthcare infrastructure and rising advent of medical tourism and significant prevalence of chronic kidney diseases.

The major players operating in the market of urinary catheters include Boston Scientific Corporation, Medtronic, Urocare Products, Inc., ConvaTec Inc., Cure Medical, LLC, Medical Technologies of Georgia, Bactiguard, B. Braun Melsungen AG, Coloplast, and Hollister Incorporated among others. The global urinary catheters market is highly competitive and driven by large number of novel product launches and approvals. For instance, in September 2016, CompactCath introduced a small and discreet intermittent catheter for patients that demand short-term or long-term bladder management such as spinal cord injuries, multiple sclerosis and others.

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Posted by on Thursday February 13 2020, 12:59 AM EST. All trademarks acknowledged. Filed under Healthcare. Comments and Trackbacks are open. Follow responses: RSS 2.0

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