Urinary Catheters Market Analysis
The global urinary catheters market is growing pervasively. The market growth attributes to the augmenting demand for advanced urinary catheters to meet various medical needs and the increasing prevalence of urological diseases. Besides, rising healthcare expenditures and spreading awareness of healthcare worldwide drive the growth of the market. Moreover, increasing geriatric population and higher incidences of urinary abnormalities escalate the market growth to furthered height.
According to Market Research Future (MRFR), the global urinary catheters market held a value of USD 1,603 MN in 2017, which is expected to appreciate further at 7.8% CAGR over the forecast period (2018 – 2023). Favorable reimbursement policies and aiding programs of governments are major growth driving factors for the market. Also, the increase in chronic diseases in aging populations is a significant growth propeller of the market.
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Additionally, advances in techniques and materials used for manufacturing catheters and consistent R&D investments, foster the growth of the market. On the other hand, the emergence of intermittent catheterization alternatives is a key factor projected to impede market growth.
Also, the rising number of catheter-associated urinary tract infections obstructs market growth. Nevertheless, wide acceptance of urinary catheters across the globe would support the growth of the market throughout the assessment period.
Global Urinary Catheters Market – Segmentation
The report is segmented into six dynamics;
By Type: Coated Catheters, Uncoated Catheters, and others.
By Product: Intermittent Catheters, Indwelling Catheters, External Catheters, and others.
By Gender: Male Urinary Catheters and Female Urinary Catheters.
By Indication: Benign Prostatic Hyperplasia, Spinal Cord Injuries, Urinary Incontinence, General Surgery, and others.
By End User: Hospitals & Clinics, Research organization & Academic Institutes, and others.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-world.
Urinary Catheters Market – Geographical Analysis
North America dominates the global urinary catheters market. The largest market share attributes to the rising sales of urinary catheters due to the increasing numbers of surgeries and urinary disorders. Also, the presence of major market players and the penetration of healthcare sectors in the region influence market growth. Besides, high expenses and awareness of healthcare impact the market growth positively.
Europe stands second in the global urinary catheters market. The market is driven by the presence of a strong academic & research base and availability of funding for research in the European countries. Moreover, increasing per capita income and awareness drive the regional market growth. Also, the rising prevalence of chronic diseases and surgeries in the region pushes the market growth forward.
The Asia Pacific urinary catheters market is growing rapidly. Due to its raw material advantage and cost-competitive workforce, the region has a large number of factories, making all types of catheters. These production plants are primarily based in India, Japan, and China, where many multinational companies have invested. Resultantly, APAC has become the world’s largest producer of urinary catheters. Additionally, improving healthcare reforms and government aids foster regional market growth.
Global Urinary Catheters Market – Competitive Analysis
Highly competitive, the global urinary catheters market appears fragmented due to the presence of many notable players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, collaborations, and product/ technology launch. Players strive to develop and refine advanced products that span the spectrum of urological care.
Many companies have added an anti-bacterial coating to the urinary catheter to prevent bacterial colonization. Companies invest considerably in the development of new urinary catheters that can offer practical solutions for patient safety while minimizing the risk of infection. Another strategy that is being tried is to use connected devices in association with urinary catheters.
Urinary Catheters Market Major Players:
Players leading the global urinary catheters market include Boston Scientific Corporation, Coloplast A/S, Convatec Group PLC, Werkomed Pty Ltd. Braun Melsungen AG, DISA Vascular, Medloyd Healthcare, Terumo Europe NV, Teleflex, Medtronic, R. Bard, Inc., Wellspect Healthcare (A Subsidiary of Dentsply IH Ltd.), Bactiguard Holding, Cook Medical, Hollister Incorporated, and Rochester Medical Corporation, among others.
Urinary Catheters Industry/Innovation/Related News:
June 23, 2020 —- A research team from the Indian Institute of Science (IISc) announced the development of nanomaterial, which can defeat pathogens. Nanozyme is a significant breakthrough in the area of antibiotic resistance. This nanomaterial can mimic an enzyme and then disintegrate the cell membranes of a range of diseases.
Researchers next tested the nanozyme on urinary catheters, which are vulnerable to pathogenic biofilm formation, leading to infections spread in patients. In their lab, the team found that the bacterial attachment to the catheter surface significantly reduces on being treated with the nanozyme. Researchers strategically coated the inner surface of the catheters only as the new nanozyme cannot distinguish between human and microbial cells.
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