Urinary Catheters Market to Surpass USD 8.16 Billion by 2030 on Account of Prevalence of Chronic Conditions and Increasing Surgical Procedures | Research by SNS Insider
According to SNS Insider’s research, the rise in surgical procedures, especially those related to urology and gynecology, has expanded the application of urinary catheters in post-operative care, driving urinary catheters market growth.
Pune, Nov. 20, 2023 (GLOBE NEWSWIRE) — “The Urinary Catheters Market, as per the SNS Insider report, is projected to achieve a valuation of USD 8.16 billion by 2030, having been valued at USD 5.31 billion in 2022. It is anticipated to register a Compound Annual Growth Rate (CAGR) of 5.52% during the forecast period from 2023 to 2030.”
Urinary catheters are flexible tubes designed to be inserted into the bladder, facilitating the drainage of urine when normal urine flow is hindered. They find application in various medical scenarios, such as post-surgery recovery, urinary retention, and incontinence management. Catheters come in different types, including indwelling (Foley) catheters, intermittent catheters, and external catheters, each serving specific patient needs. These catheters feature a balloon at the tip, which, when inflated, keeps the catheter securely in place within the bladder. The urine drains continuously into a collection bag, allowing healthcare providers to monitor urine output.
The urinary catheters market is experiencing robust growth, driven by several factors that address the evolving needs of healthcare providers and patients alike. The global increase in the aging population has led to a rise in urological disorders, such as urinary incontinence and enlarged prostate, creating a heightened demand for urinary catheters. Ongoing advancements in catheter design and materials have improved patient comfort, reduced infection risks, and enhanced overall performance. Innovations such as antimicrobial coatings and hydrophilic surfaces are contributing to market growth. The growing prevalence of chronic conditions, including diabetes and neurological disorders, has increased the incidence of urinary retention and incontinence, necessitating the use of urinary catheters for effective management. Increasing awareness among healthcare professionals and patients about the benefits of early intervention and appropriate catheter selection has contributed to the market’s expansion.
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Key Company Profiles Listed in this Report are:
The Major players are Hollister Inc, Boston Scientific Corp, Cook Medical, Teleflex Inc, Medline Industries Inc, Becton Dickinson And Company (C.R. Bard, Inc.), J And M Urinary Catheters LLC, Medtronic PLC, Coloplast, ConvaTec Inc and Other Players
Urinary Catheters Market Report Scope:
|Market Size in 2022||US$ 5.31 Billion|
|Market Size by 2030||US$ 8.16 Billion|
|CAGR||CAGR of 5.52% From 2023 to 2030|
|Key Regions/Countries||North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)|
Market Dynamics Analysis
The urinary catheters market is experiencing dynamic shifts driven by various factors that influence its trajectory. Among the key drivers is the rising prevalence of urinary incontinence and other urological disorders, particularly among the aging population. As the global population continues to age, the demand for urinary catheters is expected to surge, bolstered by the increased incidence of conditions such as prostate enlargement and urinary retention. Moreover, technological advancements in catheter design, materials, and manufacturing processes contribute to market growth, enhancing patient comfort and reducing the risk of infections. However, alongside these drivers, the market faces notable restraints. Stringent regulatory requirements, especially in developed regions, may hinder the swift approval and commercialization of innovative catheter products. Additionally, the high cost of advanced catheters poses a challenge, limiting their accessibility in certain healthcare settings. Furthermore, the threat of catheter-associated urinary tract infections (CAUTIs) remains a significant concern, prompting ongoing efforts to develop antimicrobial coatings and materials. These challenges, coupled with the potential emergence of alternative treatment modalities, create a complex landscape for urinary catheter market dynamics, requiring continuous innovation and strategic adaptation within the industry.
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Urinary Catheters Market Segmentation:
- Benign Prostate Hyperplasia (BPH) & Prostate Surgeries
- Urinary Incontinence
- Spinal Cord Injury
- Coated Catheters
- Uncoated Catheters
- Long-term Care Facilities
Key Regional Developments
The North American region dominates the urinary catheters market, owing to the high prevalence of urological disorders, a rapidly aging population, and advanced healthcare infrastructure. The United States and Canada contribute significantly to the market share, with a growing number of patients opting for minimally invasive urological procedures. Europe holds a substantial share in the market, driven by factors such as the rising geriatric population and increasing incidences of urinary tract infections. Countries like Germany, the United Kingdom, and France are key contributors to the market, supported by robust healthcare systems and technological advancements in urology. The Asia-Pacific region is witnessing a surge in demand for urinary catheters due to a growing awareness of urological health, improving healthcare infrastructure, and a rising aging population.
Impact of Recession on Urinary Catheters Market Growth
Healthcare facilities, facing financial constraints during a recession, might implement cost-cutting measures. This could result in decreased procurement of medical supplies, including urinary catheters, impacting urinary catheters market growth. During economic downturns, there is a heightened focus on cost-effective healthcare solutions. Manufacturers offering affordable yet high-quality urinary catheters may experience increased demand as cost-conscious consumers seek value for money. Recession-induced stress and lifestyle changes can contribute to the prevalence of chronic health conditions such as diabetes and urinary incontinence. The subsequent surge in patient numbers may boost the demand for urinary catheters.
Key Takeaway from Urinary Catheters Market Study
- The market is witnessing a significant shift with the intermittent segment emerging as a dominant force. Intermittent catheters have gained traction due to their versatile applications and patient-friendly design. Unlike indwelling catheters, intermittent catheters are designed for short-term use, minimizing the risk of infections and discomfort associated with prolonged catheterization.
- Within the urinary catheters market, the urinary incontinence segment stands out as a driving force, influencing market dynamics and shaping the future of catheter development. Urinary incontinence, a prevalent condition affecting millions worldwide, has propelled the demand for catheters designed specifically for this purpose.
- Ur24Technology has announced the launch of its innovative ‘TrueClr’ External Catheter Line, a remarkable addition to the realm of medical devices. With a focus on user comfort and performance, Ur24Technology has incorporated cutting-edge features that address longstanding concerns associated with traditional catheter use.
- Sonoma Pharmaceuticals, a pioneering leader in healthcare solutions, has recently unveiled its latest product targeting urinary tract infections (UTIs) in New Zealand. With a focus on enhancing urinary health, the new product is anticipated to bring relief to individuals suffering from UTIs, a prevalent and often uncomfortable condition.
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Table of Contents
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Urinary Catheters Market Segmentation, by Product
9. Global Urinary Catheters Market Segmentation, by Application
10. Urinary Catheters Market Segmentation, By Gender
11. Urinary Catheters Market Segmentation, By Type
12. Urinary Catheters Market Segmentation, By End-Use
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
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