The global urinary catheters market is valued at US$ 6.04 billion in 2023 and is predicted to reach US$ 11.34 billion by 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.
Patients with urinary retention, urinary incontinence, and other urological problems use urinary catheters. A flexible tube called a urinary catheter, which is typically put into the patient's bladder by a medical expert, is used to drain the bladder and collect urine in a drainage pack. Rising cases of prostate cancer, particularly in males, increasing rate of pregnancies, and growing incidence of spinal cord injuries are driving the sales of urinary catheters.
Indwelling (Foley) catheters, intermittent (short-term), and external catheters are all types of urinary catheters. A flexible tube with lumens on both ends is called an indwelling (Foley) catheter. Through the urethra, this kind of urinary catheter is inserted into the bladder.
Download Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=8242?AS Key Takeaways from Market Study
· The global urinary catheters market is expected to increase at a CAGR of 6.5% from 2023 to 2033.
· Sales of intermittent catheters are expected to rise at a CAGR of 6.5% during the forecast period.
· Demand for Foley catheters is predicted to expand at a CAGR of 5% during the next 10 years.
· China’s market for urinary catheters is predicted to expand at a CAGR of 10% during the projected period.
“North America and Europe are set to be the most lucrative markets for manufacturers of urinary catheters,” says a Fact.MR analyst.
Winning Strategy
Manufacturers are constantly working to create innovative devices with a strong emphasis on patient comfort. The most recent developments in the global urinary catheters market are fixed occlude devices and the increasing prevalence of locally established haemodialysis. A few market trends include the incorporation of technological advancements in urinary catheters, dependable interest in new work, and an increase in acquisitions and mergers.
· In India, a controlled multicenter study released in March 2021 by Bactiguard revealed that urinary catheters treated with Bactiguard had a 69% lower risk of catheter- associated urinary tract infections (CAUTI) than other regular catheters. The research
was published in the prestigious scientific journal Antimicrobial resistance and infection control.
· In February 2021, the medical device business UroDev Medical announced the appointment of seasoned industry veteran Matt Monarski as the organization's CEO. Additionally, the business moved its headquarters from San Clemente, California, to Minneapolis.
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To increase their market share, key players in the urinary catheters market constantly introduce new devices and broaden their reach by moving farther afield.
· The Japanese company Terumo Corporation purchased Sequent Medical, a US-based producer of medical devices. Therefore, to obtain economies of scale, the major manufacturers in the catheters industry are moving their production plants to other nations.
Additionally, a majority of catheter producers team up with significant medical device distributors to sell and distribute their goods internationally or in certain nations. As a result, makers and distributors of medical devices frequently form strategic collaborations. These partnerships not only help producers get a license to sell their products, but they also lessen their liability in the event of product recalls and unfavourable outcomes.
· For instance, in March 2019, Coloplast Corporation and the American healthcare provider Premier Inc. announced a three-year purchase arrangement for the Coloplast urology product line, which includes catheters. With its integrated supply chain, advising, and data analytics solutions, Premier Inc. has a network alliance of around 4,000 American hospitals that might be used to expand Coloplast's relationships at a lesser cost.
Key Players
· AngioDynamics Inc.
· B. Braun Melsungen AG
· Boston Scientific Corporation
· Coloplast Group
· ConvaTec Group Plc
· Cook Medical Inc.
· Fresenius Medical Care AG & Co. KGaA
· Hollister Inc.
· Medline Industries Inc.
· Medtronic Plc.
· Teleflex Inc.
· Wellspect HealthCare
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Urinary Catheters Industry Research Segmentation
· By Product :
o Intermittent Catheters
o Foley/Indwelling Catheters
o External Catheters
· By Type :
o Coated Catheters
o Uncoated Catheters
· By Application :
o Urinary Incontinence
o Urinary Retention
o Benign Prostatic Hyperplasia (BPH)/Prostrate Surgeries
o Spinal Cord Injuries
· By Gender :
o Male
o Female
· By End User :
o Hospitals
o Specialty Clinics
o Ambulatory Surgical Centers
· By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global urinary catheters market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of product (intermittent catheters, Foley/indwelling catheters, external catheters), type (coated catheters, uncoated catheters), application (urinary incontinence, urinary retention, benign prostatic hyperplasia (BPH)/prostrate surgeries, spinal cord injuries), gender (male, female), and end user (hospitals, specialty clinics, ambulatory surgical centers), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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