The Urinary Catheters Market is expected to register a CAGR of nearly 5.5% during the forecast period.
A profound impact on the Urinary catheter market is expected due to the COVID-19 scenario. As the number of cases is still on the rise, the demand for urinary catheters is also expected to increase, since urinary catheters are used in some of the critically ill patients suffering from COVID-19. Thus, this is expected to positively impact the demand for urinary catheters.
The primary factors that are driving the growth of the urinary catheters market include the rising prevalence of urinary incontinence, the growing geriatric population, and technological advancement in the material used for catheters.
Urinary incontinence is an underdiagnosed and underreported condition that is likely to increase with age and majorly affects the elderly population. According to the Global Forum on Incontinence, 2018, 12.4% of all women and 5% of all men, 303 million and 121 million, respectively, are affected by urinary incontinence worldwide. Furthermore, as per the World Ageing Population report, in 2019, about 702.9 million people living were aged 65 years and above and this number is expected to reach at 1,548.9 million by the year 2050. Thus, this is expected to fuel the market growth.
Key Market Trends
Benign Prostate Hyperplasia (BPH) is Expected to Show a Significant Growth in the Urinary Catheter Market During the Forecast Period
Benign Prostate Hyperplasia (BPH) is Expected to Show a Significant Growth in the Urinary Catheter Market During the Forecast Period. However, with the outbreak of COVID-19, a delay in diagnosis and treatment was observed in the case of BPH. This overall impacted negatively on the market studied in this segment. As per the study ''Gravas S, Fournier G, Oya M, et al. Prioritising urological surgery in the COVID-19 era: a global reflection on guidelines'', published in June 2020, about 2,494 urologists were surveyed from 76 countries wherein BPH was preferred as one of the lowest priorities in terms of treatment in non-oncological procedures.
BPH is a very common condition among older men. According to a study titled, ''The prevalence and associated factors of lower urinary tract symptoms suggestive of benign prostatic hyperplasia in aging males'', published in May 2020, revealed that with increasing aging the prevalence of BPH also increased among the Chinese population. BPH is often associated with the conditions such as urinary incontinency, frequent urination, and urine initiation difficulties. Thus, the growing burden of BPH is further expected to impact the overall burden of urinary incontinence and thereby flourish the market growth in this segment.
North America Accounted for the Largest Share in the Market
North America occupied a major share in the urinary catheters market, and the region is expected to show a similar trend over the forecast period. A profound impact is expected on the market studied due to the outbreak of COVID-19. In February 2021, Health Canada approved the TempSensor catheter designed by Bactguard. As urinary catheters are being used in some cases of critically ill COVID-19 patients, the introduction of such products can positively impact the market studied.
The growing burden of urinary incontinence and the rising geriatric population are some of the driving factors in this region for the market studied. According to the Urology Care Foundation, 2019 revision, one-third of men and women in the United States suffer from urinary incontinence. About 33 million have overactive bladders, representing symptoms of urgency, frequency, and with or without urge incontinence.
Furthermore, with the introduction of technologically advanced products the market in this region is expected to fuel over the forecast period. For instance, in February 2019, Safe Medical Design Inc., recieved an approval by United States Food & Drug Administration (US FDA) for it's product Signal Catheter. Thus, the aforementioned factors are expected to positively impact on the market growth.
The market studied is moderately fragemented with the presence of few major players and small players. The market players are focusing on R&D to develop technologically advanced products in the market. The barriers for the new entrants are high in this industry, and hence, few major market players hold the maximum market share. Some of the major players in the market are B. Braun Melsungen AG, Boston Scientific Corporation, Teleflex Inc., Medtronic PLC, among others.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Rising Prevalence of Urinary Incontinence
- 4.2.2 Growing Geriatric Population
- 4.2.3 Technological Advancement in the Material Used for Catheters
- 4.3 Market Restraints
- 4.3.1 Risk of Catheter-associated Urinary Tract Infection (CAUTI)
- 4.3.2 Alternative Treatment Options for Urinary Incontinence
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Indwelling (Foley) Catheters
- 5.1.2 Intermittent Catheters
- 5.1.3 External Catheters
- 5.2 By Application
- 5.2.1 Benign Prostate Hyperplasia (BPH)
- 5.2.2 Urinary Incontinence
- 5.2.3 Spinal Cord Injury
- 5.2.4 Other Applications
- 5.3 Geography
- 5.3.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.3.2 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Spain
- 188.8.131.52 Rest of Europe
- 5.3.3 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 Australia
- 126.96.36.199 South Korea
- 188.8.131.52 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 184.108.40.206 GCC
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle East and Africa
- 5.3.5 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Amsino International Inc.
- 6.1.2 B. Braun Melsungen AG
- 6.1.3 Boston Scientific Corporation
- 6.1.4 Coloplast AS
- 6.1.5 ConvaTec Group PLC
- 6.1.6 Cook Medical
- 6.1.7 Cure Medical LLC
- 6.1.8 Hollister Incorporated
- 6.1.9 Medtronic
- 6.1.10 Teleflex Incorporated
- 6.1.11 C. R. Bard.
- 6.1.12 Beckton Dickinson and Company
- 6.1.13 ASID BONZ GmbH
- 6.1.14 CompactCath
- 6.1.15 Go Medical Industries Pty Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS