(PharmaNewsWire.Com, February 27, 2021 ) The growing prevalence of urinary incontinence, an increasing number of surgical procedures across the globe, high incidence of prostate cancer, and the favorable reimbursement scenario are the major factors driving the growth of this market.
The report Urinary Catheters Market is projected to reach USD 2.6 billion by 2025 from USD 2.0 billion in 2020, at a CAGR of 5.5% during the forecast period.
Market Segmentation:- Based on products, the global Urinary Catheterization Market is segmented into indwelling catheters, intermittent catheters, and external catheters. Indwelling catheters accounted for the largest share of the urinary catheters market in 2019. These catheters are also widely used in high-acuity patient units, with critical care and intensive care units registering the highest usage of indwelling catheters. Growth in this market is largely driven by the cost-efficiency and high availability of indwelling catheters in the market.
By catheter type, the global Urinary Catheterization Market is segmented into coated and uncoated catheters. Coated catheters accounted for the largest share of the urinary catheters market in 2019. This segment is also expected to register the highest CAGR during the forecast period. Growth in this market is mainly driven by the various advantages associated with coated catheters, such as easier, more comfortable insertion, low risk of catheter-associated urinary tract infection, reduced risk of urethral damage, and improved patient satisfaction.
Recent Developments:- In 2019, Bactiguard launched BIP Foley TempSensor. This enhanced the urinary catheters product portfolio of Bactiguard. In 2019, ConvaTec Group acquired Southlake Medical Supplies, Inc. (US). This acquisition helped to strengthen ConvaTec’s distribution of catheter-related supplies in the US. In 2018, Coloplast acquired IncoCare Gunhild Vieler GmbH (Germany). This acquisition helped strengthen the company’s position in Germany, primarily in home care continence supplies.
Regional Analysis:- The urinary catheters market is segmented into four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America was the largest regional market for urinary catheters in 2019.
Key Market Players: - The global Urinary Catheterization Market is highly consolidated. The prominent players operating in this market include B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Coloplast Ltd. (Denmark), ConvaTec Inc. (UK), Becton, Dickinson and Company (US), Cardinal Health (US), Teleflex Incorporated (US), Wellspect HealthCare (US), and Cook Medical (US).
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