Urinary Catheter Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2028

Reports And Data

Reports And Data

Government initiatives for large scale use of technology collaborations and development of Patient Friendly products are key factors

NEW YORK, NY, UNITED STATES, November 18, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global Urinary Catheter Market was valued at USD 1,983.3 Million in 2020 and is expected to reach USD 3,018.2 Million by the year 2028, at a CAGR of 5.3%. The urinary catheter is basically a device that is used in urinary incontinence; it is like a tube connected to the bladder and leads to a bag. Catheters are generally important as they help in the discharge of the urine, especially for those who are facing a disorder in urinary inconsistency. If it is not treated further, there is a chance of affecting the Kidney and also can lead to failure.

The rise in the geriatric population is the key to the market, Whereas the alternative treatment options for urinary incontinence are the major restraint to the market. But obesity acts as a dominant market, this individual is likely to suffer from frequent urinary incontinence as fat deposits around the abdomen, which leads to health problems, like hernia, weakened bladder muscles, and nerve damage, which progress to lead urinary incontinence.

Urinary catheters providers are concerned about making patient compliance products. This is likely to boost the market further. The rise in surgical procedures across the world and also the favorable reimbursement scenario is likely to drive the market.

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Key Offerings of the Global Urinary Catheter Market Report:

• Deep insights into the Urinary Catheter market landscape
• Key details about the regional segmentation of the Urinary Catheter market
• Analysis of the crucial market trends with regards to both current and emerging trends
• Extensive overview of the key manufacturers and prominent players of the industry
• Comprehensive study of the market segmentation and recent developments

Market Dynamics:

Ongoing efforts of key players to develop advanced therapeutics and drugs, rapid adoption of advanced technologies such as artificial intelligence, additive manufacturing, ad blockchain technologies, among others, and growing focus on precision medicine have led to rapid changes in the pharma and healthcare industry. Legalization and acceptance of medical marijuana, rising focus on connected devices in healthcare sector, and popularization of beyond-the-pill have further revolutionized the healthcare industry. The emergence of COVID-19 pandemic has played a crucial role in the progress of healthcare industry with rapid shift in focus on preventive healthcare, increasing awareness about health and wellness, growth of telemedicine and teleconsultation, and rapid adoption of advanced technologies to cater to the growing patient pool.

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Competitive Landscape:

The report offers a comprehensive overview of the competitive landscape of the market to offer key insights about the key companies operating in the market. The section discusses in detail the initiatives and innovations adopted by the key players to gain a strong foothold in the market. It also provides insights into mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others to offer a better understanding of the market.

Key companies in the market include:

B. Braun Melsungen AG (Germany), Coloplast A/S (Denmark), C.R. Bard, Inc. (US), Hollister Incorporated (US), Medtronic plc (Ireland), Cook Medical (US), Teleflex Incorporation (US), and ConvaTec Group plc (UK)

Further key findings from the report suggest

• In the year 2020, B. Braun had takeover the business operations of Nephtec GmbHas, a systems provider for extracorporeal blood treatment (dialysis), that has strengthened its product portfolio in the area of the central preparation of dialysis concentrates

• Urinary incontinence is a major factor for the demand for urinary catheters, according to the US Department of Health and Human Services, in the year 2015, 200 million individuals globally were reported of suffering urinary incontinence, which included 25 million patients from the US. As per reports of the Continence Foundation of Australia, there were about 4.8 million people suffering from urinary incontinence in Australia in 2010; this number is estimated to reach approximately 6.5 million by 2030. The two major risk factors for urinary incontinence include the Geriatric population and obesity.

• Many of the research has shown that obesity is associated along with urinary incontinence. There is several epidemiological research done by the National Institutes of Health and suggested that (each 5-unit increase in BMI will have a chance of an increase in the risk of urinary incontinence by about 60%.) Obese individuals suffer from stress-related urinary incontinence and act as a significant risk factor for daily urinary incontinence. In case obese people, fat deposits around the abdomen cause a wide range of health problems, such as hernia, weakened bladder muscles, and nerve damage, which could further result in urinary incontinence.

• Advancements in the Foley catheters as it results in improved patient comfort has enabled the growth of the Foley catheters market. There are antibacterial coatings it reduces catheter-associated urinary tract infections will further fuel demand for foley catheters. An increase in the prevalence of urinary incontinence, and rising cases of kidney stones, sedentary lifestyle, and lack of exercise in patients enhances the global Foley catheters market.

• In the case of female urinary catheters, indwelling catheters are placed prior to gynecological operations to decrease the size of the bladder to prevent damage, to prevent postoperative urinary retention, and to monitor urine throughout the surgery accurately. Proper aseptic technique, choosing the smallest catheter which allows for proper drainage, and early removal is essential to aid in preventing infection

• North America in the regional segment held the largest share of 37.7% in the year 2020. This dominance has prevailed by increases in the Obesity and Geriatric conditions, which results in the growth of the market

• The Foley catheters have the highest CAGR of 8.8%. In the forecasted period, it is likely to reach 40% in the market share

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For the purpose of this report, Reports and Data has segmented the Urinary Catheters Market on the basis of product, type, patient, indication, end use and region:

Product Outlook (Revenue in Million USD; 2020–2028)

• Indwelling Catheters
• Intermittent Catheters
• External Catheters

Type Outlook Revenue in Million USD; 2020–2028

• Coated Catheters
• Uncoated Catheters

Patient Outlook Revenue in Million USD; 2020–2028

• Male Urinary Catheter
• Female Urinary Catheter

Indication Outlook Revenue in Million USD; 2020–2028)

• Urinary Incontinence
• General Surgery
• Benign Prostatic Hyperplasia
• Spinal Cord Injuries
• Others

End Use Outlook Revenue in Million USD; 2020–2028)

• Hospitals & Physician's Offices
• Long-Term Care Facilities
• Others

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Regional Analysis:

The section covers a comprehensive analysis of key regions for production and consumption ratio, import/export analysis, supply and demand dynamics, regional trends and demands, and presence of prominent players in each region. The regional analysis segments also offers a country-wise analysis to offer panoramic view of the market and help investors, clients, stakeholders, and businesses better understand the opportunities and growth scope of the Urinary Catheter market.

The regional analysis covers:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Reports and Data

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Source: EIN Presswire