Urinary Catheters Market Size, Status & Forecast Report, 2013 – 2024
Reimbursement by the Medicaid Program, which provides 120 catheter per month for one person and the Medicare program which pays 200 catheter, also increases the increase. Such reimbursement policies contribute to the large share of the department, as they decrease the out-of-pocket spending of the patients. On the other hand, external catheters department is expected to be the fastest increasing department during the forecast time as they are non-invasive. Application Insights these products have an application in different medical conditions and diseases wherein it becomes tough for the patient to empty the bladder. The urinary incontinence department occupied the biggest market share in 2015 accounting for 38.3% due to the increasing prevalence of the disease and aging population. The benign prostate hyperplasia (BPH) is anticipated to be the fastest increasing department with a CAGR of 5.80% It is a general condition in the aging population particularly men. According to the Urology Care Foundation, around half of the men in the age of 51 to 60 years have BPH and up to 90% of the men in the age of 80 years have BPH. Acute kidney failure is a serious complication related to BPH and catheterization of the bladder is necessary.
Regional Insights North America held the majority of the market share of about 35.6% in 2015. The region suffers from a load of growing urology diseases and increasing geriatric population. Healthy health facilities are available in North America and repayment coverage contributes to large markets in the area. According to the American Academy of Family Physicians, Urinary Dichotomist affects approximately 20 million American women and 6 million American men in some areas of their life. It is approximate to affect millions of people and its prevalence growth with the rising age of the population. Asia Pacific is projected to be the fastest increasing market with a CAGR of 6.67% during the forecast time. The emerging economies, like India and China, in the region, are lucrative markets due to the growing aged population, raising the prevalence of chronic diseases, and growing demand for advanced therapies and products.
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Competitive Insights some of the major companies are:
• B Braun
• Melsungen AGT
• Hollister Inc.
• Boston Scientific Corporation
• C.R. Bard, Inc.
• Cook Medical
• Teleflex Inc.
Due to the large opportunities in developed and developing countries, companies are implementing strategic initiatives like mergers and acquisitions, new product launches and expansion of operations for the global merger.
Regional Outlook (Profit, USD Million; 2013 - 2024)
• North America
• Asia Pacific
• Latin America
• South Africa
Table of Content
• Research Methodology
• Executive Summary
• Urinary Catheters Market Variables, Trends and Scope
• Urinary Catheters Market: Product Type Estimates and Trend Analysis
• Urinary Catheters Market: Application Estimates and Trend Analysis
• Urinary Catheters Market: Regional Estimates & Trend Analysis, by Product Type & Application
• Competitive Landscape
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