Presently, the urinary catheter market is mainly driven by factors such as growing ageing population, favorable reimbursement policies and increasing demand for advanced urinary catheters. However, factors such as growing incidence of urinary tract infections and the threat from substitutes are expected to hamper market growth. The urinary catheter market is segmented on the basis of product type and application.
Growing ageing population, favorable reimbursement policies and increasing demand for advanced urinary catheters are major factors leading to increased demand for urinary catheters, thereby fuelling the growth of the urinary catheter market. Major trends in the urinary catheter market include technological advancements with regard to urinary catheters, consistent investment in research and development and surge in acquisitions and mergers.
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The global catheter market was valued at around US$ 25,895.6Mn 2014. The urinary catheter market accounted for 5.1% of global catheter market in 2014 and was valued at US$ 1,326.0 million. Revenue contribution by urinary catheter market to the global catheter market is expected to increase to US$ 1,755.0 by the end of 2021, expanding at a CAGR of 4.1% between 2015 and 2021. The increasing prevalence of chronic diseases and growing ageing population are factors expected to positively affect the growth of the urinary catheter market across the globe.
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Key market players covered in this report includeB. Braun Melsungen AG, Coloplast A/S., CR Bard Inc., Teleflex Incorporation, Boston Scientific Corporation, Covidien Plc, Hollister Incorporated and CooK Medical. Major players in urinary catheter market focus on enhancing their global and regional presence through acquisitions and mergers, and operational expansion.
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