The growth in this market is mainly driven by the growing prevalence of urinary incontinence, increasing number of surgical procedures across the globe, and the favorable reimbursement scenario. The growing preference for single-use catheters and self-catheterization is a major trend that is expected to boost market growth in the coming years.
The Urinary Catheters Market is expected 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.
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Based on product, the urinary catheters market is segmented into Foley catheters, intermittent catheters, and condom catheters. In 2017, the Foley catheters segment is expected to dominate this market, primarily due to the rising geriatric population and increasing incidence of urinary incontinence.
On the basis of type, the urinary catheters market is segmented into coated urinary catheters and uncoated urinary catheters. In 2017, coated urinary catheters are expected to dominate the market. Coated catheters ensure easier, more comfortable insertion, thereby reducing the risk of urethral damage and leading to better patient satisfaction. These advantages are driving the adoption of coated catheters.
On the basis of the region, the urinary catheters market is segmented into North America, Europe, Asia, and RoW. In 2017, North America accounted for the largest share of the market, followed by Europe, The large share of this regional segment can primarily be attributed to the increasing number of surgical procedures, rising prevalence of urinary incontinence, and presence of major players in the North American region. Asia is projected to register the highest growth rate during the forecast period.
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The urinary catheters market is highly competitive with the presence of major players. B. Braun Melsungen AG (Germany), Coloplast A/S (Denmark), C.R. Bard, Inc. (US), Hollister Incorporated (US), Medtronic plc (Ireland), Cook Medical (US), Teleflex Incorporation (US), and ConvaTec Group plc (UK) are the major companies operating in the urinary catheters market.
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