Urinary Catheters Market Set to Surge Past US$ 8.81 Billion and Register a Steady Revenue CAGR of 5.2% by 2031 | Growth Plus Reports

Newark, New Castle, USA, May 02, 2023 (GLOBE NEWSWIRE) -- In accordance with the most recent analysis by Growth Plus Reports, the global market for urinary catheters was estimated to be worth US$ 5.31 billion in 2022 and is expected to expand at a revenue CAGR of 5.2% to reach US$ 8.81 billion by 2031.

The global market for urinary catheters was analyzed, and it is expected to rise significantly during the forecast period. When a person is incapable of doing so on their own, urinary catheters act as medical devices to drain urine from the bladder, they are often employed when a person finds it difficult or impossible to urinate due to certain medical illnesses or surgical procedures.

Key Takeaways: 

• The rising prevalence of chronic disease and longer hospital stays drive the market revenue share.
• The increase in the geriatric population is raising the market revenue growth exponentially.
• The rising prevalence of urine incontinence is propelling the market revenue growth.

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                                     Urinary Catheters Market Scope

Recent Development in the Global Urinary Catheters Market: 

• In March 2023, Coloplast produced a male catheter to help reduce the frequency of uTIs. The cutting-edge intermittent catheter "Luja" addresses major variables that increase the risk of urinary tract infections, which are expensive both for people who use intermittent catheters and for the healthcare system.

Competitive Landscape

Following is a list of the top market players operating in the global market for urinary catheters: 

• Hollister, Inc.
• Boston Scientific Corporation
• Teleflex, Inc.
• Medtronic PLC
• Cook Medical
• B. Braun Melsungen AG

Market Drivers and Restraints: 

The global urinary catheter market revenue is driven by the growing rates of cancers of the urinary system or reproductive organs, an aging population that is only getting older, and an increase in patients with urethral blockages and urinary tract infections (UTIs). Furthermore, the prevalence of urine incontinence has increased due to the senior population, boosting the demand for urinary catheters. Contributes to market revenue growth. 

However, the high risk of infections and catheter-related complications is expected to restrain the revenue growth of the global urinary catheter market. 

Market Segmentation: 

Segmentation By Product Type

Based on product type, the global urinary catheter market is segmented into external catheters, intermittent catheters, and Foley/ indwelling catheters. Due to being the gold standard for bladder emptying and available in insurance coverage, the intermittent catheters segment accounts for the largest market revenue share. 

Segmentation By Application

Based on the application, the global urinary catheter market is segmented into spinal cord injury, benign prostate hyperplasia & prostate surgeries, urinary incontinence, and others. The urinary incontinence segment accounts for the largest revenue share, as it needs long-term care facilities and is highly infectious in females and the aging population.

Segmentation By Gender

Based on gender, the global urinary catheter market is segmented into females and males. The male segment accounts for the largest global urinary catheter market revenue share due to the prevalence of benign prostatic hyperplasia and urine incontinence among males, who are likely to need urinary catheters more than females.

Segmentation By End User

Based on the end user, the global urinary catheter market is segmented into hospitals and clinics, long-term care facilities, and others. The hospital segment with the largest revenue share dominates the global market due to the increasing patient footfall, availability of skilled healthcare professionals, and advanced technologies.

Regional Growth Dynamics

Based on the region, the global urinary catheter market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the rising demand for sophisticated healthcare infrastructure, rising awareness among the population, presence of market players, and approval from regulatory bodies, North America accounts for the largest revenue share in the global market.

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Report Coverage 

Growth Plus Reports studied the global market for urinary catheters in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022)
   3. Regulatory Landscape
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL URINARY CATHETERS MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
   1. External Catheters
   2. Intermittent Catheters
   3. Foley/Indwelling Catheters
6. GLOBAL URINARY CATHETERS MARKET - ANALYSIS & FORECAST, BY APPLICATION
   1. Spinal Cord Injury
   2. Benign Prostate Hyperplasia & Prostate Surgeries
   3. Urinary Incontinence
   4. Others
7. GLOBAL URINARY CATHETERS MARKET - ANALYSIS & FORECAST, BY GENDER
   1. Female
   2. Male
8. GLOBAL URINARY CATHETERS MARKET - ANALYSIS & FORECAST, BY END USER
   1. Hospital & Clinics
   2. Long-term Care Facilities
   3. Others

URINARY CATHETERS MARKET TOC

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• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

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