FELTON, California, March 22, 2018 /PRNewswire/ --
Global Urinary Catheters Market size would be worthUSD 5.51 billion by 2024, and is expected to grow at a CAGR of 5.41% during the forecast period. Urological catheters are used for patient's affliction from Urological incontinence, urological disorders and, Urological retention.
An intermittent catheter is bendable catheter utilized to vacant the bladder at regular intervals. This catheter is separated once the flow of urine stops. External catheter is usually used for elderly male patient's affliction of dementia (loss of brain task). This catheter is shaped like a condom and is positioned on the male genital, with a tube directing to a drainage bag, which accumulates the urine.
The Urological catheter industry is mainly determined by factors such as rising ageing population, constructive reimbursement policies and growing demand for superior Urological catheters. Moreover, factor such as increasing incidence of Urological area infections and pressure from substitute are expected to obstruct the industry growth. The requirement for Urological catheters can be credited to disorders such as Parkinson's disease, multiple sclerosis, dementia, and incontinence. Much of the requirements for Urological catheters come from the aged population, who suffers from numerous age-related medical circumstances. The growing incidence of Urological disorders also has a straight impact on the global Urological catheters market. Currently the worldwide market for Urological catheters is having a healthy growth rate owing to the continuously growing consciousness levels of the people, accessibility of enhanced Urological catheters and recuperating economic condition and healthcare infrastructure in various nations.
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On the basis of product type the market can be segregated into condom catheter (external), intermittent catheter (short-term) and Foley catheter (indwelling). Intermittent catheter is expected to capture maximum share over the forecast period owing to their increasing demand across the world. Indwelling catheter segment is expected to capture second largest revenue over the forecast period. On the basis of application this market can be segregated into Urological retention, spinal cord injury, Urological incontinence, prostate gland surgery and others. Prostate gland surgery segment is expected to capture the maximum share in revenue and hence would be domination the market owing to extensive use of urological catheter in the surgery across the world. On the basis of geographical region, the market can be segregated into North America, Asia Pacific, Europe and Rest of World.
Of all the regions aforementioned North America is expected to generate largest share in revenue over the forecast period owing to increasing government support of different nation in this are to strengthen the growth of the market coupled with the existence of refined infrastructure. The Asia Pacific is expected to witness robust growth over the forecast period owing to superior government support, a large aged population base afflicted from Urological problems that call for instantaneous catheterization, superior income levels, and prevalent awareness. The Asia Pacific Urological catheters market is chiefly driven by the Urological catheters industry in China and India. Europe is expected to capture second largest revenue over the forecast period owing to high patient awareness coupled with high medical expenditure
The main factors for soaring growth rate comprises the introduction of technological development such as the utilization of antimicrobial coatings on these catheters and increasing prevalence of urological infection such as incontinence. These commodities are expected to witness eminent demand over the forecast period owing to the beginning of technologically advanced products opposing the risks such as needle stick injuries and growth of novel products such as Stryker's AcuNav ultrasound & Soundstar 3D proficient in three-dimensional mapping .Some of the key players in this market are Coloplast, American Medical Systems, C.R. Bard, Boston Scientific, Cook Medical, AdvancedCath, Wellspect HealthCare, DENTSPLY IH AB, ConvaTec SA, Covidien plc,Teleflex Incorporated, Melsungen AG, B.Braun, Cure Medical, Johnson & Johnson, Abbott Laboratories, Fresenius Medical Care , and AngioDynamics.
The players in the market are expected to face challenge in terms of high prices. Barrier for entry is low for new entrants. The market is expected to be innovation driven over the forecast period owing to increasing demand of these services around the developing countries. The market is not much fragmented but there is lack of standardization. A major healthcare reform across the developing countries is expected is expected to boost the growth of these companies in developing nations. The key market trend of this industry is soaring adoption of coated urological catheters. These coatings are generally anti-microbial coatings. The key vendors in the market will have to try thir best to come up with the innovation which is in turn, is in lieu with the latest market trend.
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