The Role of Urinary Catheters Market Industry Growth, Competitors Analysis, New Technology, Trends and Forecast 2021 - 2028
According to the report, the global urinary catheters market was valued at US$ 3.5 Bn in 2020 and is projected to expand at a CAGR of 4.5% from 2021 to 2028. Urinary catheters are used to drain and/or collect urine from the bladder. Urinary catheters are available in different shapes, sizes, materials (latex, silicon, Teflon, etc.) and types (Foley, coude tip, straight, etc.). Urinary catheters have been categorized into three major segments: Foley (indwelling) catheters, intermittent (temporary) catheters, and male external (condom) catheters. Urinary catheterization is often recommended when an individual is suffering from disorders such as urinary incontinence, urinary retention disorder, post prostrate or genital surgery or multiple sclerosis, or neurological disorders such as Parkinson's disease or dementia. People suffering from such disorders often show symptoms such as lack of efficient control over urination and a few face difficulties in urine discharge. Hence, urinary catheters help these patients with proper urine drainage and/or collection, thereby maintaining sanitary conditions and helping patients recover faster.
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Presently, physicians prefer intermittent catheters due to several applications and advantages. Urinary catheters are used in hospitals, specialty clinics, ambulatory surgery centers, etc. These devices are designed with several properties, such as the degree of hydrophilic coating, softness, track ability, and stability.
COVID-19 Impact on Urinary Catheters Market
COVID-19 has hampered businesses and economic activities globally, and is expected to have a short-term negative effect on the urinary catheters market. Urinary catheters are used for surgical applications and be affected to some extent due to the temporary postponement of various elective surgeries, as government authorities seek to ensure the availability of resources for COVID-19 patients. Various governments have provided guidelines on elective surgeries in an effort to minimize the strain on the healthcare system, decrease disease transmission, and conserve personal protective equipment (PPE).
As on March 18, 2020, the U.S. CMS announced that all elective surgeries, as well as non-essential medical, surgical, and dental procedures, would be delayed. Other areas that are negatively affected include the supply of products meant for hospitals (including ICUs, neurological care centers, emergency rooms, and trauma patients), owing to lockdowns and mobility restrictions in various countries across the globe. However, businesses are likely to revive and resume normalcy once restrictions on elective surgeries and movement are lifted.
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Increase in Number of Urinary Bladder Disorders
Rise in the number of diseases related to bladder dysfunction such as urinary incontinence and neurovascular diseases, technological innovations, surge in the geriatric population, favorable insurance & reimbursement policies, and increase in per capita healthcare expenditure are projected to drive the global urinary catheters market. Increase in demand for urinary catheters and rise in the number of surgical procedures are other drivers of the global urinary catheters market. Increase in the incidence of chronic disorders has resulted in the rise in demand for urinary catheters globally. According to a report published by the WHO, around 200 million people suffer from one or the other urological problems, which essentially require urinary catheterization.
Intermittent Catheters Segment to Dominate Global Market
In terms of product type, the global urinary catheters market has been classified into intermittent catheters, Foley Catheters, and male external catheters. The intermittent catheters segment held the largest share of the global urinary catheters market in 2020. The segment's dominance can be attributed to short-term or temporary catheterization. This feature has helped reduce the ever-increasing incidence of CAUTIs, which is one of the major forms of healthcare-associated infections (HCAIs) in developed countries.
Indwelling or Foley catheters have been primarily associated with CAUTIs due to the catheterization of hospitalized patients for considerably longer duration. Other factors fueling the expansion of the segment are driving the demand and acceptability among healthcare professionals as well as patients and fewer side effects associated with these urinary catheters.
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North America to Dominate Global Market
In terms of region, the global urinary catheters market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global urinary catheters market in 2020, followed by Europe.
North America is projected to lead the global urinary catheters market during the forecast period, followed by Europe. The U.S. is anticipated to dominate the market in North America largely due to larger population and well-established healthcare infrastructure. Well-established pharmaceutical and biotechnology industry, increase in research activity, rise in prevalence of neurological disorders are factors driving the market in the region.
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The global urinary catheters market is fragmented in terms of number of players. Key players in the global market include Teleflex Incorporated, Hollister Incorporated, ConvaTec, Inc., Medtronic plc, Cook Medical, Boston Scientific Corporation, Coloplast, C. R. Bard, Inc., B. Braun Melsungen AG, TE Connectivity Corporation, and other prominent players.
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