Urinary Catheters Market to exceed $8bn by 2030

Urinary Catheters Market size is projected to reach USD 8 billion by 2030, according to the latest research report by Global Market Insights Inc.
 

Rising occurrence of prostate cancer among elder males will be a major factor driving the industry outlook. The subsequent increase in the occurrence of painful symptoms such as erectile dysfunction, blood in urine and semen, and trouble in urination will bolster the demand for urinary catheters.
 

Increasing geriatric population with higher susceptibility to urinary incontinence will positively impact the demand for urinary catheters. Lately, a substantial percentage of patients opt for self-catheterization to empty the bladder without any professional help, which will further add to the industry expansion. A key factor contributing to increasing the market share is the rapid rise in the number of ambulatory surgical centers that offer one-day surgery with convenience, affordability, less waiting period, advanced surgical equipment, and skilled professionals.
 

The availability of substitute treatment methods may emerge as a major factor restraining the urinary catheters market value. Many of these alternative treatments are cost-effective and have minimum side effects which may increase consumer preference for these procedures, restricting product demand. The repeated occurrence of painful UTIs as a result of catheterization will be another factor hampering the industry landscape.
 

Benefits of indwelling catheters in treating urinary disorders to boost product demand

Indwelling catheters segment is anticipated to grow at over 4% CAGR through 2030. Indwelling catheters are used to drain urine from the bladder. They are known for benefits such as removal of obstruction in urinary tract, effective urinary retention, and treating urinary incontinence. Increasing cases of urinary disorders as well as chronic kidney ailments are impelling product sales.
 

Browse key industry insights spread across 330 pages with 601 market data tables and 22 figures & charts from the report “Urinary Catheters Market Size By Product (Indwelling Catheters {Transurethral Catheters, Suprapubic Catheters}, Intermittent Catheters, External Catheters {Male External Catheters [Vacuum-Assisted Catheters, Non-Vacuum Assisted Catheters], Female External Catheters [Vacuum-Assisted Catheters, Non-Vacuum Assisted Catheters]}), By Device Type (Coated {Gel Prelubricated Catheters, Hydrophilic Coated Catheters, Silver Coated Catheters}, Uncoated), By Material (Latex, PVC, Silicone), By Patient (Adult, Pediatric), By Application (Prostate Enlargement, Urinary Retention, Urinary Incontinence, Post Surgery, Others), By End Use (Hospitals, Clinics, Ambulatory Surgical Centers, Day Care Centers, Long Term Care Facilities, Home Care Facilities), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/urinary-catheters-market
 

Increased flexibility to push the demand for latex catheters

Urinary catheters market from latex segment is slated to reach USD 1.5 billion by 2030. Latex urinary catheters are made from pure latex and boast of properties like thermosensitivity, flexibility, and softness. They are usually coated with a protective layer to avoid irritation and are pre-lubricated to aid in easy insertion. Increasing usage of latex for manufacturing indwelling catheters and intermittent catheters is spurring the segment growth.
 

Prevalence of urinary retention to bolster the market share

Urinary retention segment is expected to record over 4.5% CAGR through 2030. Rising cases of numerous conditions like vulvovaginitis, urethritis, cystitis, pelvic organ prolapse (POP), bladder outlet obstruction, and benign prostatic hyperplasia (BPH) leading to urinary retention are fostering the demand for urinary catheters. According to NCBI data released in 2021, the United States witnesses over 200,000 surgeries of POP every year and this number is increasing at a steady rate.
 

Patient preference for clinics to generate revenues for the market

Urinary catheters market share from the clinics segment was registered at over USD 600 million in 2021, driven by the benefits of easy accessibility and affordability. In addition, clinics provide timely assistance, high-quality services, reliability, optimal treatment outcome, and patient compliance, which is increasing patient preference for these medical settings.
 

Increasing hospitalizations will foster industry trends across Europe

Europe urinary catheters market is poised to cross USD 2.5 billion by 2030. This is attributed to the surging hospitalization of patients having urinary incontinence in the region. As per a report by EuroHealth, the urinary continence incidence rate was 10% to 20% of the total European populace in 2018. The presence of supportive healthcare policies, improved cognizance of urological conditions, and introduction of screening programs by regulatory authorities are also favoring the regional market expansion.
 

New product development to emerge as key growth strategy

Major players in urinary catheters market include Amsino International Inc., Becton, Dickinson and Company, B Braun Melsungen AG, Boston Scientific Corporation, Cardinal Health, Inc., Coloplast Ltd., CompactCath, ConvaTec, Cook Medical, Hollister Incorporated, J and M Urinary Catheters LLC, Teleflex, Urocare Products Inc., Wellspect Healthcare, Medline Industries Inc., Stryker Corporation, Consure Medical and Medtronic PLC. Expansion of product portfolios through improved R&D capabilities is aiding the companies in maximizing their revenues.