by The Indwelling Catheters Market is estimated to be valued at US$ 7.7 billion in 2022 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Indwelling catheters are used to manage urinary incontinence and retention in patients who are unable to empty their bladder naturally. These catheters are inserted into the bladder and secured in place, allowing for continuous drainage of urine. The market offers a range of products including Foley catheters, intermittent catheters, and condom catheters, among others. These catheters find applications in hospital settings, homecare, and long-term care facilities.
Market Dynamics:
The indwelling catheters market is primarily driven by the rising geriatric population, who are more prone to urinary conditions such as urinary incontinence and retention. Additionally, technological advancements in catheter materials and design are leading to improved patient comfort and reduced catheter-associated risks. Moreover, increasing healthcare expenditure and growing awareness about the availability of advanced catheterization products are expected to fuel market growth. However, the risk of catheter-associated infections and potential complications associated with long-term catheter use may hinder market growth to some extent.
Segment Analysis:
The indwelling catheters market can be segmented based on product type and end user. In terms of product type, the dominating segment is the Foley catheters. This is due to their widespread usage in various medical procedures, such as urinary retention, urinary incontinence, and postoperative care. Foley catheters are preferred by healthcare professionals due to their ease of insertion and secure placement, which reduces the risk of catheter-associated urinary tract infections (CAUTIs).
PEST Analysis:
Political: The political factors influencing the indwelling catheters market include government regulations and policies regarding healthcare facilities and medical devices. Stringent guidelines and approvals for the manufacturing and distribution of catheters impact the market growth.
Economic: Economic factors play a significant role in the growth of the indwelling catheters market. The increasing healthcare expenditure and rising geriatric population, requiring long-term medical care, are driving the demand for indwelling catheters.
Social: The social factors influencing the market include the growing prevalence of urinary incontinence and age-related urological disorders. The awareness about the benefits of indwelling catheters in managing such conditions is contributing to market growth.
Technological: Technological advancements in catheter design, materials, and infection control measures are important factors in the market. The development of antimicrobial and hydrophilic-coated catheters has improved patient comfort and reduced the risk of infections, driving the adoption of indwelling catheters.
Key Takeaways:
The global Indwelling Catheters Market is expected to witness high growth, exhibiting a CAGR of 6.4% over the forecast period. This growth can be attributed to the increasing prevalence of urinary incontinence and age-related urological disorders, the rising geriatric population, and the need for long-term medical care.
In terms of regional analysis, North America is the fastest-growing and dominating region in the indwelling catheters market. This can be attributed to the presence of well-established healthcare infrastructure, high healthcare expenditure, and a large geriatric population.
Key players operating in the indwelling catheters market include Cardinal Health, Inc., Becton, Dickinson and Company, B. Braun Melsungen AG, Cook Group Incorporated, Teleflex Incorporated, Coloplast A/S, Hollister Incorporated, C.R. Bard, Inc., and Bactiguard AB. These key players have a strong market presence and focus on product innovation, research and development, and strategic collaborations to maintain their competitive position in the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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