Press release
Urinary Catheters Market To Reap Over US$ 1,755.0 Million In Revenues By End Of 2021
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.
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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.
Intermittent Catheter to Emerge as a Highly Preferred Product in the Global Urinary Catheter Market
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 to Remain Dominant in the Global Market for Urinary Catheters
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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Key Players in the Global Urinary Catheter Market
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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