Posted by The report ‘Global Urinary Catheters Market by product (indwelling, intermittent, and external catheters), type (coated and uncoated catheters), application [urinary incontinence, general surgery, benign prostatic hyperplasia, and others (spinal cord injuries, spina bifida, multiple sclerosis, and Parkinson’s disease)], and region (North America, Europe, Asia-Pacific, and LAMEA) – Global Forecast to 2030’. In 2020, the Global Urinary Catheters had its market share valued at USD 2 billion. In 2030, the market is expected to be valued at USD 3.4 billion, with a 5.5% CAGR.
Key Factors Augmenting the Market Growth
Some of the necessary factors that assist in driving the overall growth of the market globally are the globally increasing number of urinary incontinence and the regulatory body approvals in emerging countries.
Based on the product, in 2020, intermittent catheters had the largest market share. It is estimated to account for 57% of the urinary catheters’ global market share.
The global urinary catheters market is divided into indwelling, intermittent, and external catheters based on the product. Based on the product, in 2020, intermittent catheters have the largest market share. It is estimated to account for 57% of the urinary catheters’ global market share. Continuously draining catheter problems can be solved by using intermittent catheters. In addition, it is used to empty bladders for patients suffering from neurogenic bladder problems and spinal cord lesions.
Based on type, coated catheters segment dominated the overall market with a steady CAGR in the estimated period.
The global urinary catheters segment is divided into coated and uncoated catheters based on type. Based on type, coated catheters segment dominated the overall market with a steady CAGR in the estimated period. The factors attributed to the growth are the comfortable insertion, reduced risk of urethral damage, low risk of catheter-associated urinary tract infection and improved patient satisfaction.
The urinary incontinence segment has the largest market share during the forecasted period based on application.
The global urinary catheters segment is divided into urinary incontinence, general surgery, benign prostatic hyperplasia, and others (spinal cord injuries, spina bifida, multiple sclerosis, and Parkinson’s disease). The urinary incontinence segment has the largest market share during the forecasted period based on application. This segment is expected to grow with a decent CAGR. The increasing incidence of obesity, the growing geriatric population, and the increasing incidence of urinary incontinence are attributed to the size of the urinary catheter market.
The urinary catheter market report suggests that North America, accounting for over 34%, has an overpowering market share globally.
The global urinary catheter market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa (LAMEA) regions. The urinary catheter market report suggests that North America, accounting for over 34%, has an overpowering market share globally. This segment is expected to grow with a decent CAGR, followed by Europe. The increasing awareness about urine infections, well-established healthcare facilities, and the availability of highly skilled doctors in the region can be attributed to the largest urinary catheter market size.
Key Players Existing in the market
The global urinary catheter market’s main competitors are Hollister, Inc., Medtronic PLC, Boston Scientific Corp, Becton Dickinson And Company (C.R. Bard, Inc.), Cook Medical, Teleflex, Inc., Medline Industries, Inc., and J and M Urinary Catheters LLC.
Recent Developments
- In February 2021, UroDev Medical announced that it plans to file for 510 (k) clearance with the U.S. FDA in mid-2021 for its product IntelliFlow Bladder Management System.
- In December 2020, to develop the CymActive urinary catheter, Innovative U.K. funded Ingenion Medical Ltd. received about GBP 100,000. It is used for treating male patients suffering from urinary retention.