The global Urinary Catheter Market is subject to witness a substantial growth due to the growing prevalence of incidences such as urinary disorders, particularly among older population, and recent technological advancements such as development of foley catheter or indwelling urinary catheter and intermittent catheters. Globally, the market is predicted to grow at a significant CAGR for the forecast period, providing numerous opportunities for market players to invest for research and development in the urinary catheter market.
Growing geriatric population, particularly in the Asia Pacific region is considered as one of the major growth factors for urinary catheters market, in the recent years. In addition, increasing occurrence of target diseases such as urinary in-continence, bladder blockade, urinary retention, benign prostate hyperplasia (BPH) and bladder cancers are anticipated to boost market demand for urinary catheters over the forecast period.
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Neurological disorders like cerebral palsy, multiple sclerosis, and spina bifida that leads to bladder dysfunction also need urinary catheters for urine drainage. These factors are significantly affecting market growth in the upcoming years. During pregnancy, trauma or injury to may occur in the urethra or bladder, thereby driving market demand for urinary catheters.
The market is broadly categorized into three major segments based on the product type such as foley catheter or indwelling urinary catheter, intermittent catheters and external catheters. The intermittent catheters is considered as one of the fastest growing segment in the flavonoids market with substantial revenue generation in the last few years. However, intermittent catheters require parodic catheterization, due to which it is performed minimum four times a day. Growing popularity of the intermittent catheters segment is attributed to the least amount of side effects in comparison with indwelling and external type. The external catheters segment is has also witnessed substantial growth owing to their non-invasive properties.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the medicine & pharmaceutical sector, increase in the number of research & development activities, rise in health awareness among general population, and existence of well-established healthcare infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the urinary catheters market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with ever-growing geriatric population, improved healthcare infrastructure in the region, increasing healthcare expenditure by local governments, favorable government policies, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the urinary catheters market are B Braun Melsungen AG, Hollister, Inc., Coloplast Co., Boston Scientific Co., C.R. Bard, Inc., Cook Medical Ltd., Teleflex, Inc., and Medtronic Group AG.
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• North America
• Asia Pacific
• Middle East and Africa
• South America
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Key Questions Answered in this Report
• What will the market size be in 2023?
• What are the key factors driving the global urinary catheter market?
• What are the challenges to market growth?
• Who are the key players in the urinary catheter market?
• What are the market opportunities and threats faced by the key players?
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/medical-devices
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