Urinary Catheters Market Overview
Market Research Future (MRFR) states that the global urinary catheters marketis anticipated to grow with a CAGR of 7.8% during 2017-2023 and surpass a market valuation of USD 1,103 million by 2023.
A catheter is reputed medical device that is nothing by a thin tube, made of medical graded material. It allows delivery of substances like medicines, fluids, and others into the body or drain out urine form the body. This situation is common in case of surgeries and post-surgery. Hence, catheter finds numerous applications in such clinical conditions. Owing to the sedentary lifestyle, an increase in the number of people suffering from malicious diseases is observed. This in-turn is contributing to the growing number of surgeries. Additionally, the rise in geriatric population and the surge in number of patients suffering from urinary infection are prompting the use of catheters. Different types of catheters are also available for its intended purpose. MRFR identified these causes to shoot up the growth curve of the global urinary catheter market. However, complications like, risk of infection due to catheter can impede the market growth.
Urinary Catheters Market Segmental Analysis
The indispensable insights of the global urinary catheters market, derived from its segmental analysis, helps in the identification of new growth windows for the market to proliferate. The urinary catheters market study has been segmented into type, gender, indication, end-use, and product.
Based on the type, the urinary catheters market has been segmented into uncoated and coated catheters.
Based on the gender, the urinary catheters market has been segmented into female and male catheters.
Based on the indication, the urinary catheters market has been segmented into spinal cord injuries,
urinary incontinence, general surgery, and benign prostatic hyperplasia.
On the basis of end use, the urinary catheters market has been segmented into research organization and academic institutes, hospitals and clinics, and others.
On the basis of product, the urinary catheters market has been segmented into external catheters, indwelling catheters, and intermittent catheters.
Urinary Catheters Market Regional Insights
The regional analysis of the urinary catheters market gives a compendious understanding of the demographic progress of the market. Based on the region, the market study has been covered North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
MRFR forecasts North and Latin America to lead the urinary catheters market during the assessment period. The region is graining traction for hefty funding for research and developmental activities form both government and commercial sectors. This is accounted as a contributing factor to the regional market proliferation.
Europe is accounted to secure the position of the second largest urinary catheters market. The presence of influential academic and research institutes and availability of funding for developmental studies are factors expected to spur the European urinary catheters market growth.
Asia Pacific is likely to witness the fastest urinary catheters market growth rate. As per the World Health Organization (WHO) report, about 600 million people, around the world, are deprived of safe drinking water. The lack of safe drinking water are rising the bar, of people suffering and prone to urological disorders. This is increasing the demand for urinary catheters, to deliver better treatment. Additionally, rapid urbanization, increase in medical expenditure, and updated medical practices are fostering the urinary catheters market growth. Governments and NGOs have a pivotal role in surging the market growth. The awareness camps and funding for research and developmental activities by these organizations are likely to fuel the urinary catheters market growth.
The Middle East Asia and Africa envisaged to hold the least urinary catheters market share. However, the increase in the government initiatives to develop better healthcare facilities is expected to boost the market growth in the region.
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Urinary Catheters Market Key Players
ConvaTec Group PLC, Werkomed Pty Ltd, Hollister Incorporated, Wellspect Healthcare, Bactiguard Holding, Rochester Medical Corporation , B. Braun Melsungen AG, Terumo Europe NV, Coloplast A/S, DISA Vascular, Teleflex, Medtronic, C.R. Bard, Inc., Cook Medical, Boston Scientific Corporation, Medloyd Healthcare, and others.