Global Urinary Catheters Market, by Product Type (Intermittent Catheter, (Ported Peripheral Intravenous Catheters (PIVC) and Non-Ported Peripheral Intravenous Catheters (PIVC)), Indwelling (Foley) Catheter, and External Catheter) by Application (Urinary Incontinence, Urinary Retention, Prostate Gland Surgeries, Spinal Cord Injuries, and Others (Multiple Sclerosis, etc.)) by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 5,293.6 Million in 2022 and is expected to exhibit a CAGR of 5.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing number of significant technological advancements in urinary catheters by key market players is expected to drive the global urinary catheters market growth over the forecast period. For instance, in September 2022, Potrero Medical, a medical technology company, announced that its Accuryn Acute Kidney Injury (AKI) monitoring system transforms traditional catheters into a next-gen smart device that provides automated, continuous monitoring of urinary output, intra-abdominal pressure, and core body temperature to recognize clinical patterns of AKI and improve workflow. Accuryn's system is also designed to prevent backflow that helps to prevent retained urine and reduces false oliguria.
Global Urinary Catheters Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been significantly impacted by the COVID-19 pandemic.
Many patients with COVID-19 have a severe respiratory infection that requires hospitalization and mechanical ventilation, and defining the immune responses during COVID-19 could help to identify therapeutics and effective vaccines. However, the COVID-19 pandemic had a negative impact on the global urinary catheters market. For instance, according to the data published by the Centers for Disease Control and Prevention in 2021, Catheter-Associated Urinary Tract Infections (CAUTIs), and Ventilator-Associated Events (VAEs), infections had increased significantly during COVID-19. Urethral catheterization during hospitalization, Urethral catheterisation injury (UCI) admissions, and the number of days of hospitalization are the major factors for the increased infections.
Global Urinary Catheters Market: Key Developments
Increasing funding from various government agencies such as Innovate UK is expected to drive the global urinary catheters market growth over the forecast period. For instance, in December 2020, Ingenion Medical, a medical device company, announced that it had been awarded US$ 118.82 Million in grant funding from Innovate UK, the country’s innovation agency. This funding will be used to gain a CE Mark for its CymActive urinary catheter, a medical device to treat male patients suffering from chronic urinary retention without surgery or drugs.
Browse 35 Market Data Tables and 33 Figures spread through 170 Pages and in-depth TOC on “Global Urinary Catheters Market”- Forecast to 2030, Global Urinary Catheters Market, by Product Type (Intermittent Catheter (Ported Peripheral Intravenous Catheters (PIVC) and Non-Ported Peripheral Intravenous Catheters (PIVC)), Indwelling (Foley) Catheter, and External Catheter), by Application (Urinary Incontinence, Urinary Retention, Prostate Gland Surgeries, Spinal Cord Injuries, and Others (Multiple Sclerosis, etc.)), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/urinary-catheters-market-1198
For instance, in February 2021, Bactiguard AB, a medical technology company, announced that it had received approval from Health Canada for a urinary catheter with a temperature sensor. As many critically ill COVID-19 patients require a urinary catheter with integrated temperature monitoring, a catheter can increase the risk of acquiring Catheter-Associated Urinary Tract Infection (CAUTI). Bactiguard’s catheters can reduce the risk of secondary infections for critically ill patients.
Key Takeaways of the Global Urinary Catheters Market:
- The global urinary catheters market is expected to exhibit a CAGR of 5.6% during the forecast period due to the increasing adoption of inorganic growth strategies such as acquisition by the key players in the market. For instance, in September 2022, B. Braun SE, a medical device company, announced that it had acquired the Clik-Fix catheter securement device portfolio from Starboard Medical, Inc., a manufacturer of medical equipment, which will improve patient care and expand B. Braun SE’s product portfolio.
- Among product type, the intermittent catheter segment is estimated to hold a dominant position in the global urinary catheters market over the forecast period due to the increasing product approval by regulatory authorities such as U.S. Food and Drug Administration. For instance, in April 2020, B. Braun SE, a medical device company, announced that it had received approval from the U.S. Food and Drug Administration for Actreen Hi-Lite intermittent urinary catheters which is indicated for intermittent urinary catheterization by adults and pediatric patients with chronic urine retention or voiding dysfunction.
- Among region, North America is estimated to account for the largest market share in the global urinary catheters market over the forecast period, owing to increasing product approval by key regulatory authorities such the U.S. Food and Drug Administration. For instance, in November 2021, Flume Catheter Company Ltd., a medical device company, announced that it had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market FLUME catheter in the U.S. This catheter collects urine by attaching to a drainage bag. The bag has a valve that can be opened to allow urine to flow out.
- Major players operating in the global urinary catheters market B. Braun SE, Coloplast Group, BD, Cathetrix, Hollister Incorporated, Boston Scientific Corporation, Medtronic, Bactiguard AB, Amecath, Urocare Products, Inc., Rocamed, Cook, Ribbel International Limited, Otsuka Pharmaceutical Factory, Inc., Sonoma Pharmaceuticals, Inc., Affera, Inc., HR Pharmaceuticals, Inc., Potrero Medical, Ingenion Medical, and The Flume Catheter Company Ltd.
