Global Urinary Catheters Market: Snapshot
Urinary catheter is a hollow and moderately flexible tube which collects urine from the bladder and transfers to a drainage bag. Urinary catheters are available in numerous sizes and types. Generally they are made from rubber, silicone, and plastic (PVC). Catheters are used when the patients are not able to empty their bladder by themselves and storage of urine for longer duration which may lead to build pressure on the bladder. This pressure can be major reason for the kidney failure or permanent damage to the kidney.
Transparency Market Research (TMR) estimates, the global urinary catheters market was registered the revenue of about US$3,130.7 mn in 2016 and is expected to expand at a steady CAGR of 5.3% over the forecast period from 2017 to 2025 to attain the value of around US$5,003.1 mn in 2025.
From past few years, the medical devices industry, pharmaceutical, and biotechnology are experiencing high development. This development has led the growth of the urinary catheters market. Additionally, increasing geriatric population and increasing occurrence of the urinary incontinence, increasing awareness for the hygiene in developing countries are driving growth of the global urinary catheters market.
In addition, technological advancements and rising healthcare expenditure, and numerous favorable reimbursement policies for urinary catheterization is boosting adoption of the urinary catheters from numerous hospitals, ambulatory surgery centers, specialty clinics, and healthcare providers.
Global Urinary Catheters Market: Segments
The global urinary catheters market is segmented on the basis of product type and region. On the basis of product type, the market is segmented in to Foley catheters, intermittent catheters, and male external catheters. Among these, the intermittent catheters segment accounted for the leading share of 44.0% in 2016. This growth is attributable to the high adoption of the intermittent catheters as they are less likely to acquired urinary tract infection (CAUTI). The factors such as low cost of catheterization, ease of handling, and fewer side effects are boosting its adoption in numerous hospitals thanks to these factors, the market is expected to expand with a CAGR of 4.8% over the forecast period.
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Some of the advancements in the catheter and introduction of improved product with higher efficient and less invasive catheters that are in the pipeline are expected to create lucrative opportunities for the key players in the global urinary catheters market.
Global Urinary Catheters Market: Regional Analysis
On the basis of region, the global urinary catheters market is segmented in to North America, Asia Pacific, Europe, the Middle East and Africa (MEA), and South America. Of these, North America dominates the global urinary catheters market with the share of 44.9% in 2016. The region is well-established market for the pharmaceutical and biotechnology industry and it is expected to continue its dominance with increasing research activities.
Global Urinary Catheters Market: Competitive Landscape
Some of the key players operating in the global urinary catheters market includes TE Connectivity Corporation, B.Braun Melsungen AG, C.R. Bard Inc., Coloplast, Boston Scientific Corporation, Cook Medical, Medtronic plc, ConvaTec Inc., Hollister Incorporated, CURE MEDICAL LLC, and Teleflex Incorporated.