by The global 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:
Foley catheters are medical devices that are used for draining urine from the bladder. They are inserted through the urethra and into the bladder. Foley catheters have a balloon at the tip that is inflated with saline once in place to prevent the catheter from slipping out. They are commonly used after surgeries involving the urinary tract or the abdomen to monitor urine output.
Market key trends:
One of the key trends in the urinary catheters market is the rising demand for single-use catheters. Single-use catheters are preferred over multi-use catheters as they help minimize the risk of infections. They are sterilized and packed individually to maintain sterility. With growing awareness about hospital-acquired infections, demand for single-use catheters is increasing. Manufacturers are also developing novel catheters made of hydrophilic materials that become slippery when wet. These catheters are coated with hydrophilic polymer to reduce friction during insertion and removal thereby minimizing pain and trauma to patients.
SWOT Analysis:
- Strength: Urinary catheters are necessary medical devices for patients with urinary incontinence or disability. They allow for urine drainage in a safe and hygienic manner.
- Weakness: Indwelling catheters can cause discomfort and increase the risk of infections like urinary tract infections if not used properly. They also require periodic replacement.
- Opportunity: Rising geriatric population globally increases the demand for urinary catheters for managing urinary incontinence issues in old age. The market sees opportunities in developing advanced catheters that reduce infection risks.
- Threats: stringent regulations pertaining to approval and manufacturing of urinary catheters pose threats. Alternative treatment options like drugs also compete with catheters.
Key Takeaways:
The Global Urinary Catheters Market Growth is expected to witness high, exhibiting CAGR of 5.6% over the forecast period, due to increasing prevalence of urinary incontinence among the aging population worldwide. North America currently dominates the market due to high awareness and availability of advanced catheters. However, Asia Pacific is expected to grow at the fastest pace during the forecast period.
Regional analysis:
North America accounted for the largest share in the global urinary catheters market in 2023 due to increasing per capita healthcare expenditure and rising number of urinary incontinence procedures in the region. Asia Pacific is anticipated to witness fastest growth during the forecast period supported by expanding medical tourism industry as well as growing accessibility to state-of-the-art healthcare systems, especially in China and India.
Key players:
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
