Key Players in the Urinary Catheters Market Focus on New Product Launches

The urinary catheters market is projected to reach USD 2.19 billion by 2022 from USD 1.45 billion in 2017, at a CAGR of 8.5% during the forecast period. Growth in the urinary catheters market can primarily be attributed to factors such as the growing prevalence of urinary incontinence, increasing number of surgical procedures across the globe, and the favorable reimbursement scenario. The emerging Asian countries are also expected to offer strong growth opportunities for players in the market.

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New product launches was the key growth strategy by the market players. Partnerships, collaborations, and agreement accounted for the second largest share of the overall growth strategy mapped from 2014–2017. Some of the leading players who adopted this strategy include B. Braun Melsungen AG (Germany), Coloplast A/S (Denmark), Cook Medical (US), and ConvaTec Group (US).

The urinary catheters market is highly fragmented in nature with several big as well as emerging players. Prominent players in this market include B. Braun Melsungen AG (Germany), Coloplast A/S (Denmark), C.R. Bard, Inc. (US), Hollister Incorporated (US), Medtronic plc (US), Cook Medical (US), ConvaTec Group (US), and Boston Scientific Corporation (US).

Coloplast A/S accounted for the largest share of the urinary catheters market in 2016. The company has a strong product portfolio and a wide geographic presence. The company has a strong portfolio of urinary catheters under the brand name SpeediCath for males and females. In 2015, the company launched the SpeediCath Flex, a flexible catheter for men, which is designed for easy, hygienic insertion, and practical disposal. Apart from this, the company also focuses on acquisitions. In November 2014, Coloplast acquired Comfort Medical (US) to expand its product portfolio in catheters and ostomy supplies. 

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C.R. Bard, Inc. accounted for the second-largest market share of the urinary catheters market in 2016. The company has a wide range of Foley urinary catheter products with the brand name Bardex. The strength of the company lies in its wide geographical presence, long-term market presence, and its established product portfolio for urinary catheters.