Urinary Catheters Market Size to Reach USD 2191.8 Million by 2027 at CAGR 2.5% - Valuates Reports
BANGALORE, India, Jan. 5, 2022 /PRNewswire/ -- The Urinary Catheters Market is Segmented by Type (Foley Catheters, Intermittent Catheters, Male External Catheters), Application (Prostate Gland Surgery, Urinary Retention, Urinary Incontinence, Spinal Cord Injury). The report covers global opportunity analysis and industry forecasts from 2021 to 2027.
In 2020, the global Urinary Catheters market size was USD 1850 Million and it is expected to reach USD 2191.8 Million by the end of 2027, with a Compound Annual Growth Rate (CAGR) of 2.5% during the forecast period 2021-2027. Global Urinary Catheters key players include Teleflex, Bard Medical, ConvaTec, WellLead, etc. Global top four manufacturers hold a share over 15%.
A urinary catheter is a semi-flexible tube that is used to drain urine from the bladder. Plastic, rubber, and silicon are among the materials used in the manufacture of these catheters. In the case of urine incontinence (UI), urinary retention, prostate surgery, or other medical disorders such as spinal cord damage, multiple sclerosis, or dementia, doctors recommend urinary catheters.
Major Factors Driving The Growth Of The Urinary Catheters Market Are:
Some of the major factors driving the Urinary Catheters market growth are an increase in the number of patients suffering from UTIs and urethral obstructions, renal diseases, rising cases of tumors in the urinary system or reproductive organs, and the fast-growing elderly population.
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Trends Influencing The Growth Of The Urinary Catheters Market :
The growing prevalence of urinary incontinence and other renal diseases is expected to drive the growth of the Urinary Catheters Market. The significant prevalence of urine incontinence is one of the key factors driving global demand for urinary catheters. Incontinence that cannot be treated or managed with medications or surgery is addressed with urinary catheters. The prevalence of urine incontinence is projected to rise as the population ages and obesity becomes more common, as these are the two main risk factors for urinary incontinence.
Companies are spending money on research and development in order to create biocompatible urinary catheters. This in turn is expected to create lucrative growth opportunities during the forecast period. Silicone is increasingly being used in the development of urinary catheters due to its resistance to chemicals and insensitivity to temperature fluctuations. Silicone urinary catheters also lower the risk of mastitis, urethritis, and trigonitis.
Emerging economies (such as China, India, South Korea, Brazil, and Mexico) provide major market players with enormous growth potential. Low regulatory hurdles, advancements in healthcare infrastructure, an increasing patient population, and rising healthcare expenditures all contribute to lucrative opportunities for urinary catheters market players. In comparison to affluent countries, regulatory regulations in the Asia Pacific are more adaptable and business-friendly. This, combined with increased rivalry in mature areas, has prompted leading companies in the urinary catheters market to concentrate their efforts in emerging markets.
Furthermore, a urinary catheter is frequently used in prostate gland medical procedures for those who have BPH. This illness can also develop as a result of injury or damage to the urethra, penis, or bladder, and is linked to pregnancy. As a result, the rise in BPH patients is projected to propel the Urinary Catheters Market.
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Urinary Catheters Market Share Analysis:
North America is expected to be the most lucrative. This can be ascribed to rising awareness of urinary tract infections, the presence of well-established healthcare facilities, and the availability of highly qualified clinicians in the region. Urinary retention, bladder blockage, UI, BPH, and bladder malignancies are all gaining in popularity in the region.
Based on type intermittent Catheters is the largest segment, with a share of over 40%. An Intermittent catheter is a medical device that is used to empty the bladder on a regular basis. It's a good alternative to a catheter that keeps draining. In patients with spinal cord injuries and neurogenic bladder issues, intermittent catheterization is regarded as the gold standard for emptying the bladder. Indwelling catheters are preferable over these goods because they are more likely to cause infections in the urinary tract (UTIs).
Based on application, the largest segment is Spinal Cord Injury, followed by Prostate Gland Surgery, Urinary Retention, Urinary Incontinence.
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Leading Players in the Urinary Catheters Market
- Bard Medical
- Boston Scientific
- Cook Medical Inc.
- Medtronic and Covidien
- Pacific Hospital Supply
- Sewoon Medical
- Star Enterprise
- Fuqing Medical
- Chensheng Medical
- Haiou Medical
- World Medical
- Kelong Medical
- Shuguang Jianshi
- Bestway Medical
- Apexmed International
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- In 2020, the global Intermittent Catheters market size was USD 1926 Million and it is expected to reach USD 3712.1 Million by the end of 2027, with a CAGR of 10.1% during 2021-2027.
- The global indwelling catheters market accounted for USD 1,210.56 Million in 2019, and is expected to reach USD 2,323.56 Million by 2027, registering a CAGR of 9.1% from 2020 to 2027.
- In 2020, the global Medical Catheters market size was USD 26150 Million and it is expected to reach USD 38550 Million by the end of 2027, with a CAGR of 5.7% during 2021-2027.
- In 2020, the global Catheters market size was USD 1567 Million and it is expected to reach USD 2309.9 Million by the end of 2027, with a CAGR of 5.7% during 2021-2027.
- The global Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloon Catheters market size is projected to reach USD 1212.5 Million by 2027, from USD 994 Million in 2020, at a CAGR of 2.4% during 2021-2027.
- In 2020, the global Medical Suction Catheters market size was USD 613 Million and it is expected to reach USD 775.6 Million by the end of 2027, with a CAGR of 4.4% during 2021-2027.
- In 2020, the global Thoracic Catheters market size was USD 360.6 Million and it is expected to reach USD 556.7 Million by the end of 2027, with a CAGR of 6.4% during 2021-2027.
- In 2020, the global Central Venous Catheters market size was USD 1737 Million and it is expected to reach USD 2285.2 Million by the end of 2027, with a CAGR of 4.0% during 2021-2027.
- In 2020, the global Cardiac Catheters market size was USD 7789 Million and it is expected to reach USD 8832.7 Million by the end of 2027, with a CAGR of 1.7% during 2021-2027.
- The global Cardiovascular Devices market size is projected to reach USD 54140 Million by 2027, from USD 43040 Million in 2020, at a CAGR of 3.9% during 2021-2027.
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