Technological advancements in the field of urinary catheterization, both in terms of procedures and materials, have created a significant demand in the global urinary catheters market over the forecast period, from 2017 to 2025. For bladder emptying, a variety of catheters is utilized including male external catheters, foley catheters, and intermittent catheters. Different recommendations comprising those for self-catheterization, have been developed to address the needs of patients with a wide variety of bladder problems. They are utilized in hospital facilities when patients’ bladders cannot be emptied due to temporary medical conditions. Neurological patients, particularly with neurogenic bladder dysfunction, have proven to be amongst the most promising patient groups. Urinary catheters are also in high demand in nursing homes and hospitals, particularly those that specialize in patient rehabilitation. Such high demand for use in various applications is likely to foster expansion of the global urinary catheters market in the near future.
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The increasing incidences of catheter-associated problems have concerned both end users and manufacturers, particularly in the context of indwelling urinary catheters. Continuous improvements in recommendations for obtaining clinical results in patients after long-term usage have provided them with valuable information. These factors are estimated to foster growth of the global urinary catheters market in the years to come.
TE Connectivity Corporation, B.Braun Melsungen AG, C.R. Bard Inc., Boston Scientific Corporation, Medtronic plc, and Teleflex Incorporated are a few of the prominent players operating successfully in the global urinary catheters market.
By the use of extensive analysis techniques, Transparency Market Research (TMR) has made a detailed report on the global urinary catheters market. Analysts at TMR foresee that the market would register a growth rate of 5.3 % CAGR during the forecast period, from 2017 to 2025. By the end of 2025, sales are estimated to have risen to US$ 5,003.1 Mn. The therapeutic efficacy of different forms of urinary catheters is being boosted by advancements in the biotechnology industries, pharmaceutical, and medical devices.
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Driven by Presence of Biotechnology and Pharmaceutical Industry, North America Market to Observe Growth
In terms of region, the global urinary catheters market is classified into the principal regions of Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. It is anticipated that regional classifications would provide a better knowledge of the market dynamics at play at the regional level.
Throughout the forecast timeframe, North America is projected to expand rapidly. According to the report, owing to the existence of well-established pharmaceutical and biotechnology industries, this territory is expected to hold a considerable share of the market. It is expected to maintain its dominance in the near future as well. Furthermore, growing R&D activities, as well as the increasing number of neurovascular disorders, are expected to drive growth for the urinary catheters in the forthcoming years. In addition, Europe is expected to trail North America in the global urinary catheters market in the coming years. One of the main factors stimulating the development of the market in Europe is the increasing R&D initiatives by regional market players in order to develop new technologies for urinary catheters.
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Rise in Rates of Obesity and Demand for Alternative Treatment Options to Shoot Up Demand for Urinary Catheters
One of the main factors expected to drive growth of the global urinary catheters market is the increasing incidences of urinary incontinence as a result of increasing obesity rates and a growing geriatric population. In the near future, the favorable reimbursement climate and growing number of surgical processes are expected to speed up the overall growth of the global urinary catheters market in the years to come.
On the other hand, the growing demand for alternative options of treatment for urinary incontinence is expected to limit the global urinary catheters market’s growth in the years to come. Nonetheless, the introduction of self-catheterization as well as single-use catheters is expected to open up new growth possibilities for market participants all over the world. Furthermore, the developing markets of many Asian countries are expected to boost the overall market’s growth during the forecast timeline.
he information shared in this review is based on a TMR report, bearing the title, “Urinary Catheters Market (Product Type – Intermittent Catheters, Foley Catheters, and Male External Catheters) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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