February 25, 2024
Urinary Catheters Market

Rising Burden Of Urinary Incontinence Is Anticipated To Open up The New Avenue For Urinary Catheters Market

The urinary catheters market is estimated to be valued at US$ 5590.04 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Urinary catheters are medical devices used to drain and collect urine from the bladder. There are majorly three types of urinary catheters- Foley catheters, intermittent catheters, and external catheters. Foley catheters remain indwelling in the bladder permanently with a balloon filled at the end to prevent removal. Intermittent catheters are inserted and removed as needed to drain the bladder. External catheters are worn externally and urine drains into a collection bag attached to the external part of the catheter. Urinary catheters find widespread application in hospitals, long-term care facilities, and home healthcare settings for management of conditions causing urine retention such as urinary incontinence, bladder obstruction, and pre/post-surgery care.

Market Dynamics:

Increasing prevalence of urinary incontinence and growing elderly population prone to developing incontinence are a major driver fueling demand in the urinary catheters market. According to the National Association for Incontinence, urinary incontinence affects nearly 25 million Americans with higher prevalence in women. Poor bladder control becomes more common with age due to weakened pelvic floor muscles. Therefore, aging demographics with rising life expectancy presents lucrative opportunities. Additionally, rising number of surgical procedures requiring catheterization and growing cases of spinal cord injuries resulting in urine retention also boost the market growth. However, high risk of infections associated with long-term catheter use and increasing preference for alternative solutions may hamper the market expansion to some extent.

Segment Analysis:

The urinary catheters market can be segmented into indwelling catheters, intermittent catheters, and external catheters. Among these, the indwelling catheters segment is expected to dominate the market during the forecast period. Indwelling catheters are long-term catheters left indwelling for a longer duration of time, usually between several days to months. These catheters are majorly preferred for management of urinary incontinence in immobile patients.

PEST Analysis:

  • Political: Government initiatives and funding for research and development of advanced catheter technologies will boost market growth.
  • Economic: Increasing healthcare expenditure and rising incidence of urinary disorders will drive the market growth.
  • Social: Growing geriatric population and rising awareness regarding various catheter products will propel the market expansion.
  • Technological: Developments in catheter materials, advanced catheter coatings to prevent infections, and launch of self-catheterization training programs will support market growth.

Key Takeaways:

The Global Urinary Catheters Market Size is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing prevalence of urinary incontinence globally.

Regional analysis: North America dominated the urinary catheters market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to increasing healthcare expenditure, rising geriatric population suffering from urinary incontinence, and growing awareness regarding catheterization products in the region.

Key players operating in the urinary catheters market are B. Braun SE, Coloplast Group, BD, Cathetrix, Hollister Incorporated, Boston Scientific Corporation, Medtronic, Bactiguard AB, Amecath, Urocare Products, Inc., Rocamed, Cook, Ribbel International Limited, Otsuka Pharmaceutical Factory, Inc., Sonoma Pharmaceuticals, Inc., Affera, Inc., HR Pharmaceuticals, Inc., Potrero Medical, Ingenion Medical, and The Flume Catheter Company Ltd.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it