Urinary Catheters Market Expected to Reach US$ 1,700 Million revenue by 2021
Posted by vakhas on March 20th, 2018
Urinary catheters are used for patients suffering from various urological disorders. Various types of catheters are available in the market. However, manufacturers are focusing on developing urinary catheters that are easy to use, safe to insert and easy to withdraw without any damage. Researchers are also working on developing urinary catheters with antimicrobial and antiseptic coatings. This helps in reducing catheters associated urinary tract infections and other problems. In recent years, material to be used for making urinary catheter has come under a lot of debate. Variety of silicone and latex catheters are available in the market. However, silicone catheters are being highly preferred due to its bio-durability and bio-compatibility. Whereas, latex catheters were found to be more prone to infection and reactions.
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Manufacturers of a urinary catheter are making technological improvements in design and are also using bio-compatible materials for developing catheters. Increasing prevalence of chronic diseases and the rise in urinary incontinence among men and women are driving the growth of the global urinary catheter market. However, the increase in catheter-associated urinary tract infections is hampering the growth of the global market for urinary catheter. Hence, research activities are being conducted to develop a device that can monitor the urinary catheterization to avoid any infections.
A study by Persistence Market Research expects the global urinary catheter market to witness moderate growth during the forecast period 2017-2021. The global market for urinary catheter is projected to exceed US$ 1,700 Million revenue by the end of 2021.
By the product type, intermittent catheter is anticipated to see the highest growth throughout the forecast period. By the end of 2021, intermittent catheter is projected to surpass US$ 1,000 Million revenue. Meanwhile, indwelling catheter is also likely to see a strong growth in the coming years.
On the basis of application, the urinary catheter is likely to be used on a large scale for prostate gland surgery. Towards 2021 end, prostate gland surgery is projected to reach close to US$ 700 Million in terms of revenue. Meanwhile, urinary catheter will also find large application in urinary retention during 2017-2021.
North America followed by Europe is likely to dominate the global urinary catheter market between 2017 and 2021. Increasing cases of spinal cord injuries and urinary incontinence among the aging population is driving the demand for urinary catheter in the U.S. Moreover, increasing number of people are suffering from catheter-associated urinary tract infections in the U.S. this is resulting in the development of better urinary catheters. Availability of reimbursement and increasing number of surgeries are also playing a crucial role in the growth of urinary catheter in the region. A large pool of patients, and increasing funding by government in healthcare facilities are some of the driving factors in the urinary catheter market in the emerging nations.
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Cook Medical, Hollister Inc., Boston Scientific Corporation, Teleflex Inc., CR Bard Inc., Coloplast A/S, and B. Braun Melsungen AG are some of the key players currently active in the global market for urinary catheter.
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