PUBLISHER: The Business Research Company | PRODUCT CODE: 1513269
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513269
Urinary catheters serve as medical tools employed to facilitate the drainage of urine from the bladder when natural expulsion is not feasible for an individual. These flexible tubes are introduced into the bladder either via the urethra or a small surgical incision in the abdomen. Widely utilized across diverse medical scenarios, urinary catheters cater to patients experiencing urinary retention, incontinence, or those immobilized and incapable of utilizing conventional restroom facilities.
The primary categories within the urinary catheters market consist of coated catheters and uncoated catheters. Coated catheters feature a specialized surface coating designed to minimize friction during insertion and potentially mitigate the risk of urinary tract infections (UTIs). These catheters find applications in conditions such as benign prostate hyperplasia, prostate surgeries, urinary incontinence, spinal cord injury, among others. They are utilized across various healthcare settings including hospitals, clinics, long-term care facilities, and others.
The urinary catheters market research report is one of a series of new reports from The Business Research Company that provides urinary catheters market statistics, including urinary catheters industry global market size, regional shares, competitors with a urinary catheters market share, detailed urinary catheters market segments, market trends, and opportunities, and any further data you may need to thrive in the urinary catheters industry. This urinary catheter research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The urinary catheters market size has grown exponentially in recent years. It will grow from $5.18 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The historical growth can be credited to advancements in medical science, heightened awareness and implementation of infection control measures, elevated standards of patient care, the emergence of surgery and anesthesia practices, and the impact of the industrial revolution.
The urinary catheters market size is expected to see strong growth in the next few years. It will grow to $7.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. Anticipated growth in the forecast period is expected due to factors such as the aging population, heightened focus on infection control, escalating healthcare spending, the transition towards minimally invasive procedures and telemedicine, as well as the adoption of remote patient monitoring systems. Key trends projected for the forecast period include the integration of digital health technologies, personalized catheterization solutions, technological progressions, increased collaborative ventures, and strategic investments.
The increasing prevalence of chronic illnesses is poised to drive the growth of the urinary catheter market in the future. Chronic illnesses encompass long-term health conditions that persist over an extended period, often necessitating ongoing management and treatment due to their typically incurable nature. Factors contributing to the occurrence of chronic illnesses include an aging population, unhealthy lifestyles, and the accessibility and infrastructure of healthcare. Urinary catheters play a crucial role in improving the quality of life for individuals with chronic illnesses, aiding in the better management of their symptoms and reducing the risk of further health complications. For example, in January 2023, as reported by the National Library of Medicine, the projected number of individuals aged 50 and above with at least one chronic illness is expected to rise from 71.522 million in 2020 to 142.66 million in 2050, indicating a 99.5% increase. Additionally, it is anticipated that the number of individuals with multimorbidity will increase from 7.83 million in 2020 to 14.96 million in 2050, marking a 91.16% rise. Therefore, the increasing prevalence of chronic illnesses is fueling the expansion of the urinary catheter market.
Prominent companies in the urinary catheter market are focused on developing innovative products, such as foley catheter fixation, to enhance patient comfort and minimize complications. Foley catheter fixation involves medical devices designed to secure a Foley catheter in place to prevent movement or accidental displacement. These devices typically feature adhesive pads or straps affixed to the patient's skin, along with clips or mechanisms to secure the catheter firmly. For instance, in January 2023, Cathetrix introduced Foley/Safe, a catheter stabilizer equipped with a patented locking mechanism that actively prevents accidental extractions, stabilizes the catheter, and minimizes excessive movement. This device plays a critical role in reducing catheter-associated urinary tract infections (CAUTI) while improving patient comfort. Its innovative design facilitates easy access to the catheter insertion site, simplifying regular inspection and cleaning procedures.
In October 2023, Laborie Medical Technologies Inc., a US-based provider of diagnostic and therapeutic equipment, acquired Urotronic Inc. for $600 million. This acquisition is aimed at expanding Laborie's presence in interventional urology by integrating Urotronic's innovative drug-coated balloon technology, Optilume, into its product portfolio. Urotronic Inc. specializes in urinary catheters and is renowned for its innovative urological medical devices.
Major companies operating in the urinary catheters market are Medtronic PLC, Becton Dickinson and Company, Boston Scientific Corporation, Medline Industries Inc., B. Braun Melsungen AG, Coloplast A/S, Cook Medical, Teleflex Incorporated, Cook Medical LLC, ConvaTec Group PLC, Hollister Incorporated, Amsino International Inc., Wellspect AB, WellLead Medical Co. Ltd., Applied Medical Technology Inc., Bactiguard AB, Dynarex Corporation, Pennine Healthcare Group Limited, Pacific Hospital Supply Co. Ltd., Cure Medical LLC, CompactCath Inc., Manfred Sauer GmbH, Poiesis Medical LLC, Hunter Urology Ltd., ROCAMED Medical Devices.
North America was the largest region in the urinary catheters market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the urinary catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the urinary catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The urinary catheters market consist of sales of intermittent catheters, indwelling catheters, external catheters, urinary catheter accessories, and urinary drainage bags. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Urinary Catheters Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on urinary catheters market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for urinary catheters? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The urinary catheters market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.