Transparency Market Research, in a recent report titled “Urinary Catheters Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, states that the global urinary catheters market is anticipated to expand at a 5.10% CAGR from 2014 to 2020. The value of the urinary catheters market is projected to increase from US$1.6 bn in 2013 to US$2.3 bn in 2020.
The global urinary catheters market is mainly driven by the rising incidence of disorders such as dementia, urine retention disorders, urinary incontinence, and multiple sclerosis. Growing demand for technologically advanced urinary catheters and the rapidly aging global population have also greatly propelled the urinary catheters market. While increased government support and high unmet needs in emerging economies presents lucrative opportunities for players in this market, the alarming rise in catheter-associated urinary tract infections (CAUTIs) is anticipated to adversely affect growth.
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The urinary catheters market has been segmented on the basis of product type into Foley (indwelling) catheters, intermittent (temporary) catheters, and male external (condom) catheters. Accounting for a 58.70% share in the overall urinary catheters market, intermittent catheters emerged as the leading product segment in 2013. Intermittent catheters are preferred by patients and healthcare professionals over condom or Foley catheters for a number of reasons, the primary one being the rising occurrence of catheter-associated urinary tract infections (CAUTIs). Moreover, condom catheters have often been associated with leakage issues, resulting in their decreased demand. However, these condoms are non-invasive and hence this category of urinary catheters has been gaining prominence.
On the basis of geography, the global urinary catheters market is divided into North America, Latin America, Asia, Europe, and Rest of the World. Accounting for a 37.50% share in the overall market in 2013, North America emerged as the leading regional segment. This urinary catheters market is driven by the presence of a large number of geriatrics in Canada and the US. The aged are more susceptible to various urinary disorders, resulting in the increased demand for urinary catheters. Europe is the second largest market for urinary catheters. Asia, on the other hand, is projected to become the fastest developing regional market from 2014 to 2020, owing to rapid development in countries such as India and China. The urinary catheters market in Asia is fueled by the presence of a massive geriatric population base, rising awareness and affordability, increase in government support, and rising demand for advanced urinary catheters.
The research report identifies the key players competing in the global urinary catheters market and profiles them based on attributes such as company and financial overview, business strategies, and recent developments. The players featured in the urinary catheters market report are Coloplast A/S, B. Braun Melsungen AG, AdvancedCath, Covidien plc, Cure Medical, Boston Scientific Corporation, Hollister Incorporated, Cook Medical, Inc., C. R. Bard, Inc., and Teleflex Incorporated.