Global Urinary Catheters Market to Surpass USD 3 Billion by 2028

Published | 26 August 2022

The global urinary catheter market is growing owing to the rise in incidences of tumors in the urinary tract or reproductive organs, obstructions in the urethra and urinary tract infections (UTIs), and the fast-expanding geriatric population. The favorable reimbursement policies and growing demand for a rise in medical procedures performed worldwide are boosting the urinary catheter market.

A recent study by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Urinary Catheters market was worth USD 2,213.2 million in 2021. The market is projected to grow at a CAGR of 5.1%, earning revenues of USD 3,073.6 million by the end of 2028. The global urinary catheter market is booming due to the rise in urethral obstructions, UTIs, and tumors of the urinary tract or reproductive organs. Besides the rapidly growing geriatric population, favorable reimbursement policies and rising demand for innovative urinary products are boosting the urinary catheter market. The need for urinary catheters is increasing as more medical operations are being conducted globally. Besides, this price increase has negatively impacted the overall demand for urinary catheters as fewer people can now afford them. A urinary catheter's price might vary greatly based on its model, brand, and material composition. A silicone tube can be purchased for as low as $3, while a more premium model might cost as much as $20. The cost also varies according to the country where the catheter is purchased. In some circumstances, there can be healthcare programs with government funding that reduce the cost of the devices.

Increase In Urinary Incontinence Rate Coupled With Technological Advancements Would Continue to Boost Market Growth

The high incidence of urinary incontinence is the key factor for the rising need for urinary catheters worldwide. According to the International Continence Society, in 2018, 63 million people suffered from urgency urinary incontinence worldwide. These trends are predicted to increase the need for urinary catheters as a therapeutic option for people with urinary incontinence. Greater incidence rates are found among the elderly and nursing care patients. Urinary catheters are used to manage incontinence, which cannot be managed medically or surgically. Given that aging populations and obesity are the two main risk factors for urinary incontinence, this condition is expected to become more common.

In addition, throughout the projected period, it is anticipated that the market for urinary catheters would experience promising growth due to the technological advancements in the industry. The market's leading players can concentrate on developing advanced urinary catheters that provide catheterization that reduces the danger of leakage and infection while preventing discomfort and resentment from urethral disorders. Additionally, the use of chlorhexidine rather than saline for cleaning prior to catheter insertion in hospitals may lower the frequency of catheter-associated urinary tract infections (CAUTIs), which is anticipated to promote market expansion.

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The Hospital Segment Accounted For The Highest Market Share Amidst The End User Segment

In 2021, the hospital sector held the largest market share for urinary catheters, followed by home health and long-term care facilities. Hospitals provide a wide range of services for patients with incontinence or other urological disorders; thus, it is anticipated that this trend will continue during the projection period. Additionally, most hospitals have their own urology divisions that frequently employ disposable urinary catheters. Followed by hospitals, the long-term care facilities are anticipated to grow at a lucrative rate in upcoming years.

Emerging Economies Offer Significant Growth Opportunities To Major Market Players

Major market participants have huge growth prospects in emerging economies, including China, India, South Korea, Brazil, and Mexico. In emerging economies, factors include low regulatory requirements, improved healthcare facilities, expanding patient populations, and rising healthcare costs. Compared to wealthy nations, the regulatory regulations in the Asia-Pacific region are more flexible and business-friendly. This has led major companies in the urinary catheter market to concentrate on growing nations and the escalating competition in mature markets. For instance, B. Braun launched a subsidiary in Zambia in 2017 and five new medical production facilities in Penang, Malaysia, in April 2018.

North America Dominated the Urinary Catheters Market

North America dominated the urinary catheter market in 2021. North America had the biggest revenue share due to growing public awareness of urinary infections, the presence of reputable medical facilities, and the availability of highly skilled physicians in the region. Another reason propelling the regional market is the increasing prevalence of ailments including bladder obstruction, UI, BPH, and bladder cancer. It is becoming more frequent for local media, newspapers, and television commercials to openly identify UI as a disorder. The Asia Pacific region is expected to witness the highest CAGR during the projection period.

Impact of COVID-19 on Global Urinary Catheters Market

COVID-19 has greatly impacted global commercial and economic activity, and as a result, the market for urinary catheters is likely to experience short-term implications. Urinary catheters used for surgical operations are affected to some extent by the temporary delay of a number of elective surgeries as governments and authorities attempt to ensure the availability of resources for COVID-19 patients. The market for urinary catheters has also been impacted by factors like a lack of devices, elective surgery cancellations, scarcity of hospital beds and medical personnel, etc. In an effort to decrease the strain on the healthcare system, stop the spread of disease, and maintain personal protective equipment, some governments have put restrictions on elective treatments in place. According to the US CMS, all elective operations and other elective medical, surgical, and dental procedures have been continuously delayed. However, the market is rapidly emerging out of the COVID era and showing promising growth.

Competitive Landscape

Key players operating in the global urinary catheters market are Cardinal Health, Boston Scientific Corporation, B. Braun, ConvaTec Inc, Go Medical Industries Pty Ltd, Croda International Plc, Coloplast Ltd, Degania Silicone Ltd, Becton, Dickinson and Company, Amsino International Inc, Manfred Sauer GMBH, J and M Urinary Catheters LLC, Teleflex Incorporated, Cure Medical LLC, Bactiguard, Wellspect HealthCare, Cook Medical, Asid Bonz GmbH, Genomatica Inc, Well Lead Medical Co. Ltd, Hunter Urology, Urocare Products Inc and Other prominent players.

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The report's in-depth analysis provides information about growth potential, upcoming trends, and statistics of the Global Urinary Catheters market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Urinary Catheters market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the market's growth drivers, challenges, and competitive dynamics.

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