New York, April 06, 2023 (GLOBE NEWSWIRE) -- The Urinary Catheters Market was projected to grow at a CAGR of 5.3% from its 2022 revenue of roughly US$ 1.8 billion to an expected value of US$ 3.2 billion by the end of 2033.
The urinary catheters market refers to the market for medical devices that are used to manage and treat urinary incontinence, urinary retention, and other urinary disorders. Urinary catheters are flexible tubes that are inserted into the bladder through the urethra to drain urine from the body. They are used in hospitals, clinics, and home care settings.
Urinary catheters are widely used in hospitals, long-term care facilities, and home care settings. The global urinary catheters market is expected to experience significant growth in the coming years, driven by the increasing prevalence of urinary incontinence and other urinary disorders. This report aims to provide a comprehensive overview of the urinary catheters market, including market size, growth trends, key drivers, and challenges.
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Market Driver:
- Increasing prevalence of urinary disorders: The rising incidence of urinary disorders such as urinary incontinence, urinary retention, and neurogenic bladder is driving the demand for urinary catheters. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), about 25 million people in the United States experience urinary incontinence.
- Growing demand for minimally invasive procedures: Urinary catheterization is a minimally invasive procedure that is preferred over other invasive procedures. The growing demand for minimally invasive procedures is driving the growth of the urinary catheters market.
- Technological advancements: The development of new and advanced urinary catheterization devices that are more comfortable and less invasive is driving the demand for urinary catheters. For instance, the development of hydrophilic-coated catheters has improved the comfort and ease of use of urinary catheters.
- Government initiatives and policies: Governments across the world are implementing policies and initiatives to improve healthcare infrastructure, which is driving the demand for urinary catheters. For instance, the National Health Service (NHS) in the United Kingdom provides free urinary catheters to patients who need them.
Challenges:
The urinary catheters market faces several challenges, such as the risk of urinary tract infections associated with the use of catheters, strict regulatory requirements, and the availability of alternative treatments. These challenges are expected to hinder market growth to some extent during the forecast period.
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Some of the key players in the market include B. Braun Melsungen AG, Coloplast A/S, Becton, Dickinson and Company, Teleflex Incorporation, Boston Scientific Corporation, Medtronic plc., Hollister Incorporate, Cook Medical, Cathetrix, UroDev Medical, Stryker Corporation, Consure Medical, J and M Urinary Catherters LLC, Urocare Products Inc., Wellspect Healthcare, CompactCath, ConvaTec, Cardinal Health, Inc., Amsino International Inc.
Product Segmentation:
Based on product type, the urinary catheters market is segmented into intermittent catheters, Foley catheters, and external catheters. The intermittent catheters segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. This is attributed to the increasing adoption of intermittent catheters for the management of urinary incontinence and other urinary disorders.
End-user Segmentation:
Based on end-users, the urinary catheters market is segmented into hospitals, long-term care facilities, and home care settings. The hospitals segment accounted for the largest share of the market in 2020 and is expected to maintain its dominance during the forecast period. This is attributed to the increasing number of hospital admissions due to urinary disorders and the availability of advanced healthcare infrastructure in hospitals.
Regional Analysis:
Geographically, the global urinary catheters market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the market in 2023, followed by Europe. This is attributed to the high prevalence of urinary disorders and the availability of advanced healthcare infrastructure in these regions. The Asia Pacific region is expected to experience the highest growth during the forecast period, driven by the increasing adoption of urinary catheters in the region and the growing aging population.
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Recent Developments:
- In February 2021, Coloplast A/S announced the launch of a new line of intermittent catheters called SpeediCath Flex Coudé Pro, which is designed to reduce discomfort during catheterization and improve user experience.
- In November 2020, Boston Scientific Corporation announced the acquisition of Preventice Solutions, Inc., a healthcare company that develops and sells remote monitoring systems, including a wearable device that can monitor patients with urinary incontinence.
- In August 2020, B. Braun Melsungen AG launched a new line of catheters called Actreen® Mini Cath, which is designed to offer more comfort and ease of use for patients with urinary incontinence.
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