New York, March 31, 2022 (GLOBE NEWSWIRE) -- Diseases of the kidney are known to be a leading cause of death around the globe. According to the statistics by the Institute for Health Metrics and Evaluation (IHME), the prevalence of chronic kidney disease around the globe increased from 559268790.56 cases worldwide in the year 2010 to 697294306.90 cases in the year 2019. Additionally, the total number of deaths caused due to the disease touched 1427231.54 deaths in the year 2019, up from 1108207.03 deaths in the year 2010. Furthermore, the incidence of the disease grew from 14180547.71 cases to 18986903.42 cases during the same period.
Kenneth Research has recently released a report on “Global Urinary Catheter Market” which has been studied for the forecast period, i.e., 2022-2031. The market research report includes a brief analysis of the industry value chain, competitive landscape, and the average pricing of the product, along with the impact of COVID-19 on the growth of the market in the coming years. In addition to this, the report also covers a detailed analysis of the key players operating in the market, along with the growth drivers, opportunities, recent trends, and the challenges associated with the market growth during the forecast period.
The geriatric population around the world is increasing massively and so is the concern for different types of diseases amongst the population. By the end of 2050, 1 in 6 people are expected to be over the age of 65, according to the statistical report titled “World Population Prospects 2019”, published by the United Nations. The statistics also stated that in the year 2019, 1 in 11 people was over the age of 65. Most of the population are unable to live a normal life and often require medical or physical support to perform their daily activities, thereafter driving the need for products, such as urinary catheters. On the other hand, the increasing cases of chronic kidney disease which is driving the need for these catheters are also expected to drive the growth of the market in the coming years. The global urinary catheters market generated a revenue of USD 2631.42 Million in the year 2021 and is further expected to reach close to USD 4599.80 Million by the end of 2031, by growing with a CAGR of 5.83% during the forecast period.
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The market growth can also be attributed to the increasing number of surgical procedures of different types of diseases along with the growing prevalence of urinary incontinence. For instance, according to the statistics by the Organisation for Economic Co-Operation and Development (OECD), the total number of surgery procedures for coronary artery bypass in Germany touched 45398 numbers. Additionally, hip replacement surgeries and caesarian sections in the country grew from 232126 cases and 206746 cases respectively in the year 2010 to 261675 cases and 230348 cases respectively in the year 2019. Besides this, the surge in the development of the product and the increasing health expenditure globally is also expected to boost the market growth in the coming years. The current health expenditure as a share of GDP touched 9.845% in the year 2019, up from 9.092% in the year 2008, according to the statistics by the World Bank.
The global urinary catheter market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America generated the largest revenue of USD 1167.30 Million in the year 2021 and is further projected to reach a revenue of USD 2010.11 Million by the end of 2031. The growth of the market in the region can primarily be attributed to the rising awareness regarding the benefits of the use of the product, along with the increasing concern for urinary continence amongst the individuals in the region. For instance, it has been estimated that in the United States, about 33 Million people have overactive bladder (OAB), according to the statistics by the Urology Care Foundation, the official foundation of the American Urological Association. Moreover, the statistics also stated that a quarter to a third of the population in the nation suffered from urinary incontinence. In addition to this, the growing prevalence of chronic kidney diseases amongst the population in the region is also estimated to boost the growth of the market in the coming years. For instance, according to the statistics by the National Kidney Foundation, 1 in 3 adults in the United States was at risk for kidney disease. Moreover, the statistics also stated that an estimated 37 Million people were affected by kidney disease. The market in the region is further segmented by country into the United States and Canada. Amongst the market in these countries, the market in the United States is projected to attain the largest revenue by the end of 2031 and also grow with the highest CAGR of 5.68% during the forecast period.
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The urinary catheter market in Europe registered the second-largest revenue of USD 675.75 Million in the year 2021 and is further expected to reach USD 1182.61 Million by the end of 2031. The market in the region is further segmented by country into Germany, United Kingdom, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Among the market in these countries, the market in Germany is expected to generate the largest revenue of USD 256.51 Million by the end of 2031, up from a revenue of USD 140.89 Million in the year 2021. Additionally, in France, the market registered the second-largest revenue of USD 126.43 Million in the year 2021 and is projected to generate USD 220.44 Million by the end of 2031.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global urinary catheter market is segmented on the basis of application into urinary incontinence, benign prostate hyperplasia & prostate surgeries, spinal cord injury, and others. Amongst these, the urinary incontinence segment registered the largest revenue of USD 1004.53 Million in the year 2021 and is further projected to reach USD 1726.33 Million by the end of 2031. In North America, the segment is projected to generate the largest revenue of USD 754.60 Million by the end of 2031, up from a revenue of USD 445.21 Million in the year 2021. Moreover, in the United States, the segment registered the largest revenue of USD 399.79 Million in the year 2021 and is further expected to reach USD 676.09 Million by the end of 2031. Furthermore, in Europe, the segment is anticipated to generate the largest revenue of USD 443.60 Million by the end of 2031, up from a revenue of USD 258.20 Million in the year 2021.
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On the other hand, the global urinary catheter market is segmented on the basis of end-user into hospitals, long term care facilities, and others. Amongst these, the hospitals segment registered the largest revenue of USD 1410.63 Million in the year 2021 and is further estimated to reach USD 2426.76 Million by the end of 2031. In North America, the segment is anticipated to garner the largest revenue of USD 1052.29 Million by the end of 2031, up from a revenue of USD 621.59 Million in the year 2021. Additionally, in the United States, the segment is projected to touch USD 943.97 Million by the end of 2031, up from a revenue of USD 557.02 Million in the year 2021. Furthermore, in the Asia Pacific, the segment is anticipated to grow with a CAGR of 6.66% during the forecast period and also touch the largest revenue of USD 490.95 Million by the end of 2031, up from a revenue of USD 259.76 Million in the year 2021.
The global urinary catheter market is also segmented on the basis of mechanism, product, and gender.
Global Urinary Catheter Market, Segmentation by Mechanism
- Closed Systems
- Open Systems
Global Urinary Catheter Market, Segmentation by Product
- Intermittent Catheters
- Indwelling Catheters
- Foley
- Suprapubic
- External Catheters
Global Urinary Catheter Market, Segmentation by Gender
- Male
- Female
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Some of the prominent industry leaders in the global urinary catheter market that are included in our report are B. Braun Melsungen AG, Boston Scientific Corporation, Coloplast Group, ConvaTec Group Plc, Becton, Dickinson and Company, Medtronic PLC, Teleflex Incorporated, Wellspect Healthcare (Dentsply Sirona Group), BACTIGUARD AB, Hollister Incorporated, Amsino International, Inc., and others.
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