Urinary Catheters Market Size To Expand at a Notable CAGR Of 7.8% During 2018 - 2023 :

Pune, India, March 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global urinary catheters market.

Market Highlights

The global urinary catheters market held a market value of USD 1,103 million in 2017 and is projected to grow at a CAGR of 7.8% over the forecast period. 

The increasing prevalence of chronic renal diseases across the globe is one of the major factors for increasing the demand for urinary catheters. According to the International Agency for Research on Cancer, 430,000 new cases of bladder cancer was registered in 2012. Due to rapid economic growth, increasing spending on healthcare, and government support to provide affordable medical facilities to the public are major factors that are driving the demand for urinary catheters in this market. Emerging markets are showing tremendous growth rate in all segments of the healthcare sector. Top players are focusing on this region and investing a large amount of money for research, new product development and business expansion due to its high growth potential. 

Regional Analysis

On a regional basis, the Americas is anticipated to dominate the global urinary catheters market owing to the growing R&D budgets by both governments as well as commercial pharmaceutical and biotechnological companies and increasing adoption of advanced technologies in the region.    

Europe is expected to hold the second largest position in the global urinary catheters market owing to the presence of strong academic & research base and availability of funding for research in the European countries. Asia-Pacific is witnessing the fastest growth rate in global urinary catheters market. This fast growth is expected due to; rapidly developing healthcare sector, changing healthcare practices, rapid urbanization, rising healthcare expenditure, and increasing prevalence of urologic diseases. Lack of safe drinking water is leading to various chronic diseases in this region. According to the World Health Organization, around 600 million people in this region don’t have access to an improved source of drinking water. Government and NGOs are taking various initiatives like providing subsidies, affordable healthcare, and awareness programs are another important factor for the growth of the Asia-Pacific urinary catheters market. In India, the government is providing affordable insurance to the common public. The Indian government is also planning a public-private partnership to improve public healthcare facilities. Australia announces an investment of USD 5.25 million for R&D and clinical trials. India encouraging research by exempting academic institutions from the requirement of compulsory permission from government agencies for clinical trials.  

The Middle East & Africa has the least share of the global urinary catheters market.  Moreover, the major market share of the region is expected to be held by the Middle East region owing to the increasing government initiatives for the healthcare sector.

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Segmentation

The global urinary catheters market has been segmented into type, product, gender, indication, and end user. 

By type, the market has been segmented into coated catheters and uncoated catheters.

Based on product, the market has been segmented into Intermittent catheters, indwelling catheters, and external catheters.

The market, by gender, has been segmented into male urinary catheters and female urinary catheters.

The market, by indication, has been segmented into benign prostatic hyperplasia, spinal cord injuries,

urinary incontinence, and general surgery.

The market, by end user, has been segmented into hospitals & clinics, research organization & academic institutes, and others.

Key Players

Some of the prominent players in the global urinary catheters market are Boston Scientific Corporation, Coloplast A/S, ConvaTec Group PLC, Werkomed Pty Ltd, B. Braun Melsungen AG, DISA Vascular, Medloyd Healthcare, Terumo Europe NV, Teleflex, Medtronic, C.R. Bard, Inc., Wellspect Healthcare (A Subsidiary of Dentsply IH Ltd.), Bactiguard Holding, Cook Medical, Hollister Incorporated, Rochester Medical Corporation, and others.