Intermittent Catheter Market with business opportunities and threats, challenges to industry growth during forecast period
The Worldwide Intermittent Catheter Market is valued at $ 1,665.5 million in 2016 and is expected to reach $ 295.7 million by 2023, an annual growth rate of 8.7% from 2017 to 2023. The women's catheter sector accounted for about half of the global market in 2016.
The main factor in the intermittent catheter market is the increase in the elderly population and the increase in urinary incontinence. In addition, the introduction of catheter advantageous reimbursement policies is expected to complement market growth. However, intermittent catheter alternatives and domestic price competition are hampering market growth. Conversely, emerging economies are expected to provide profitable opportunities by increasing disposable income and increasing awareness of intermittent catheters.
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The key players operating in the global intermittent catheters market are
• Adapta Medical
• B. Braun Melsungen AG
• Becton Dickinson Company
• Coloplast A/S
• ConvaTec Healthcare B S..r.l
• Cure Medical
• Hollister Inc.
• Medical Technologies of Georgia Inc.
• Pennine Healthcare
• Teleflex Incorporated
Other players operating in the value chain are Hunter Urology, ASID BONZ, At Home Medical Products, Medical Technologies of Georgia and Hope Medical Supply Inc.
Among the product segment, uncoated intermittent catheters accounted for the maximum share in the global market, due to wide usage of uncoated catheters, owing to new materials used in the production of uncoated intermittent catheters to minimize allergies associated to latex material.
Among the indication segment, the urinary incontinence segment accounted for the maximum share, owing to increase in prevalence of urinary continence in both male and female population globally. For instance, urinary incontinence affects about 4-8% or 400 million individuals globally.
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Key Findings of the Intermittent Catheters Market:
• The male length catheters segment accounted for about three-eighth share of the total market in 2016, and is expected to register a high CAGR of 8.4% from 2017 to 2023.
• The hospitals segment accounted for three-seventh share of the total market and is expected to grow at a CAGR of 8.6% during the forecast period.
• U.S. dominated the North American intermittent catheters market and is projected to grow at a CAGR of 7.0%.
• Australia is the fastest growing country in the Asia-Pacific intermittent catheters market during the forecast period, registering a CAGR of 11.0%.
• Ambulatory surgery centers accounted for one-third market share in 2016, and are expected to grow at a high CAGR of 8.9%.
In 2016, North America was the dominant revenue contributor, owing to high prevalence rate of urinary incontinence and surge in number of minimally invasive surgeries in the region. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high populace countries such as India and China, increase in awareness regarding intermittent catheters & urinary incontinence, and rise in disposable income.
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