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Press Release: Urinary Catheter Market to Surpass US$ 2,247.6 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
A urinary catheter is a partially flexible and hollow tube that collects urine from the bladder and leads to a drainage bag. Silicone, rubber and PVC are materials used to manufacture urinary catheter. Indwelling catheters, external catheters, and short-term catheters are the three main types of urinary catheters. One-time use catheters and reusable catheters are available. It is important to routinely clean catheters as indwelling urinary catheters may lead to healthcare-associated urinary tract infections (UTIs).
The global urinary catheter market is estimated to account for US$ 2,247.6 Mn in terms of value in terms of value by the end of 2027.
Global Urinary Catheter Market: Drivers
Increasing cases of urinary incontinence is expected to boost growth of the global urinary catheter market over the forecast period. For instance, according to International Continence Society, in 2018, 63 million people suffered from urgency urinary incontinence worldwide.
Moreover, increasing geriatric population is also expected to boost growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.
North America region held dominant position in the global urinary catheter market in 2018, accounting for 39.6% share in terms of value, followed by Europe
Figure 1. Global Urinary Catheter Market Value (US$ Mn), by Region, 2018
Global Urinary Catheter Market: Restraints
Increasing incidence of urinary tract infections is a major factor hindering growth of the global urinary catheter market. For instance, according to National Center for Emerging and Zoonotic Infectious Diseases’ Epidemiology & Prevention of UTI NHSN 2018 Training factsheet, the prevalence of UTI was 10% among nursing home-associated infections.
Moreover, availability of disposable incontinence products such as adult diapers and pull-on absorbent pants is also expected to hamper growth of the global urinary catheter market.
Global Urinary Catheter Market: Opportunities
Key players in the market can focus on developing advanced urinary catheters that offer catheterization that limits the risk of leakage and infection while avoiding discomfort and resentment from urethral disorder.
Moreover, use of chlorhexidine instead of saline in hospitals for cleaning before catheter insertion may reduce the incidence of catheter-associated urinary tract infections (CAUTIs), which is expected to boost growth of the market.
Intermittent Catheter segment in the global urinary catheter market was valued at US$ 892.4 Mn in 2018 and is expected to reach US$ 1,332.5 Mn by 2027 at a CAGR of 4.5% during the forecast period.
Market Trends/Key Takeaways
Key players in the market are focused on launching novel urinary catheters that are designed for increased patient safety. For instance, in February 2019, Safe Medical Design, Inc. received the U.S. Food and Drug Administration (FDA) clearance for its Signal Catheter for commercialization in the U.S.
Key players in the market are focused on gaining contracts to enhance their market share. For instance, in March 2019, Poiesis Medical received an Innovative Technology contract for its Duette Dual Balloon Indwelling Urinary Catheter from Vizient, Inc.
Global Urinary Catheter Market: Competitive Landscape
Major players operating in the global urinary catheter market include, B. Braun Melsungen AG, Coloplast A/S, CR Bard Inc., Teleflex Inc., CATHETRIX, Hollister Incorporated, Boston Scientific Corporation, Medtronic, Hollister Inc., Bactiguard, and Cook Medical.
Global Urinary Catheter Market: Key Developments
Key players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in November 2019, CATHETRIX, a developer of urinary (Foley) smart catheter fixations, partnered with Pro-Lab Diagnostics for the distribution of CATHETRIXS innovative FoleySafe catheter securement device in Canada, U.S. and the U.K.
Key players in the market are also focused on gaining reimbursement approval for their products. For instance, in September 2019, Bactiguard’s indwelling urinary catheters (Foleys) received approval for reimbursement in the Netherlands.
Urinary catheter are used by the healthcare practitioner for individual suffering from bladder disorders such as urinary incontinence and urinary retention. Urinary catheters are manufactured using latex, silicone, and polyurethane materials. There are three types of urinary catheters available namely, indwelling catheters, external catheters, and intermittent catheters. Urinary catheters are inserted into the urethra through the bladder for draining out urine and thus providing convenience to patients after surgery.
Key features of the study:
Detailed Segmentation:
*Browse 42 market data tables and 44 figures on “Urinary Catheter Market - Global forecast to 2027”.
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