Introduction to the Urinary Catheters Market
Urinary catheters are
medical devices used to drain urine from the bladder in cases of urinary
retention, incontinence, and other conditions. They are also used to measure
urine output in critically ill patients in hospitals. Growth in the market is
attributed to the increasing geriatric population, rising prevalence of urinary
disorders, technological advancements in urinary catheters, and increasing
investments in healthcare infrastructure. Moreover, the increasing prevalence
of urinary incontinence, rising awareness about urinary catheters, and growing
demand for minimal invasive treatments are expected to drive the market growth.
Global
Urinary Catheters Market Overview
The global Urinary catheters market size is projected to reach USD 2.6 billion by
2025, at a CAGR of 5.5%. The growing prevalence of urinary incontinence, an
increasing number of surgical procedures across the globe, high incidence of
prostate cancer, and the favorable reimbursement scenario are the major factors
driving the growth of the urinary catheters market. However, the availability
of alternative treatment options for urinary incontinence may restrict market
growth to a certain extent.
The global urinary
catheters market is anticipated to witness a healthy growth over the forecast
period. The market is expected to be driven by increasing prevalence of urinary
incontinence, rising geriatric population, and increasing awareness among
people regarding the use of catheters. The market is further driven by the
increasing prevalence of urinary tract infection (UTI) and rising number of
individuals suffering from neurogenic bladder disorders.
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Drivers of the Urinary Catheters Market
·
The
increasing prevalence of diseases such as urinary incontinence and urinary
tract infections.
·
The
rising demand for minimally invasive procedures.
·
The
increasing availability and affordability of urinary catheters.
·
The
growing geriatric population, which is more prone to developing urinary
problems.
·
The
increasing awareness of the benefits of using urinary catheters.
·
The
technological advancements in the field of urinary catheters.
·
The
increasing preference for home care settings.
·
The
growing demand for disposable catheters.
·
The
increasing government support for the healthcare sector.
·
The
growing demand from emerging markets such as Asia Pacific and Latin America.
Opportunities
of Urinary Catheters Market
·
Rising
Demand for Urinary Catheters: The increasing prevalence of diseases that require the use of
urinary catheters is expected to drive the urinary catheters market growth. The
WHO estimates that the prevalence of urinary incontinence and other urinary
problems, such as urinary tract infections, kidney stones, and bladder cancer,
is increasing. This is expected to drive the demand for urinary catheters over
the forecast period.
·
Growing
Aging Population:
The global aging population is expected to drive the growth of the urinary
catheters market over the forecast period. An increasing number of people aged
65 and over is expected to lead to an increase in the prevalence of chronic
diseases, such as urinary incontinence and urinary tract infections, and hence
an increase in the demand for urinary catheters.
·
Technological
Advancements:
Technological advancements, such as the development of advanced urinary
catheters, are expected to drive the growth of the urinary catheters market
over the forecast period. Advanced catheters are designed to reduce the risk of
infection, reduce trauma to the bladder, and provide comfort to the patient.
Regional
Urinary Catheters Market Analysis
The urinary catheters market is
segmented into North America, Europe, the Asia Pacific, and the Rest of the
World. In 2019, North America was the largest regional segment of the overall
market, followed by Europe. Factors such as the high prevalence of diseases,
growing geriatric population, the availability of advanced interventional
products (including urinary catheters), and increasing surgical procedures
performed in the region are driving market growth in North America.
Major
Players in the Urinary Catheters Market
The prominent players operating in
this market include B. Braun Melsungen AG (Germany), Boston Scientific
Corporation (US), Coloplast Ltd. (Denmark), ConvaTec Inc. (UK), Becton,
Dickinson and Company (US), and Cardinal Health (US).
Recent
Developments in Urinary Catheters Market
- In 2019, Bactiguard launched BIP Foley TempSensor. This enhanced
the urinary catheters product portfolio of Bactiguard.
- In 2019, ConvaTec Group acquired Southlake Medical Supplies, Inc.
(US). This acquisition helped to strengthen ConvaTec’s distribution of
catheter-related supplies in the US.
- In 2018, Coloplast acquired IncoCare Gunhild Vieler GmbH (Germany).
This acquisition helped strengthen the company’s position in Germany,
primarily in home care continence supplies.
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Conclusion:
The urinary catheters
market is expected to grow at a healthy CAGR over the forecast period. The
growth of the market is attributed to the increasing prevalence of urinary
incontinence, and the increasing number of surgeries and diagnostic procedures.
The increasing geriatric population is also expected to boost the growth of the
market. The increasing emphasis on minimally invasive procedures, and the
emergence of technologically advanced catheters are anticipated to drive the
market growth. The rising awareness and acceptance of catheters among patients,
along with the availability of reimbursement for catheters in some countries,
are expected to fuel the growth of the market. However, the fear of infection
associated with the use of catheters, and the rising preference for alternative
treatments such as electrical nerve stimulation are anticipated to hamper the growth
of the market. The increasing investments in research and development
activities, and the growing focus on developing innovative catheter
technologies are expected to provide lucrative opportunities for the market
players.
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