Urinary Catheters Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product Type (Indwelling Catheter, Intermittent Catheter, External Catheter), Application (Benign Prostate Hyperplasia, Urinary Incontinence, General Surgery, and Others) and End-Users (Hospitals, Home-Healthcare-Facility); and Region/Country
According to a new report published by UnivDatos Markets Insights, the Urinary Catheter market was valued at USD 5 billion in 2021 & is expected to grow at a CAGR of 5.5% from 2022-2028. The increasing use of minimally invasive procedures to place catheters, the development of catheter designs that reduce the risk of urinary tract infections (UTIs), and the growing use of catheter-associated urinary tract infection (CAUTI) prevention protocols in healthcare facilities. Minimally invasive procedures, such as percutaneous nephrostomy and percutaneous ureteral nephrostomy, have gained popularity in recent years due to their ability to minimize tissue damage and reduce the risk of complications. These procedures are often preferred over traditional open surgery for patients with chronic kidney disease or other conditions that require long-term urinary catheterization. To reduce the risk of UTIs, manufacturers are developing catheter designs with antimicrobial properties, such as catheters coated with silver or other antimicrobial agents. This is driving the market growth for the urinary catheter market in the forecasted period.
Some of the major players operating in the market include Convatec Inc., Medtronic, Teleflex Incorporated., Coloplast Corp, BD., Boston Scientific Corporation, Cook, B. Braun SE, Medline Industries, Inc., J and M Urinary Catheters LLC.
Insights Presented in the Report
“Amongst product type, the external catheter segment is growing with significant CAGR in 2021 market”
Based on product type, the market is segmented into indwelling catheters, intermittent catheters, and external catheters. Amongst these, the external catheter segment is anticipated to grow with a significant CAGR in the forecast period. External catheters are widely preferred as a choice of medical devices due to associated factors such as less chances of developing urinary tract infections than in the case of an indwelling catheter. Additionally, this catheter causes less damage to the urethras than indwelling catheters. Furthermore, these catheters, can be self-applied thus eliminating the supervision of healthcare professionals. These elements are increasing the demand for the urinary catheter.
“Amongst application, the benign prostate hyperplasia segment is growing with a significant CAGR in the market in 2021”
Based on the application, the market is segmented into benign prostate hyperplasia, urinary incontinence, general surgery and others. Amongst these, benign prostate hyperplasia is anticipated to grow with a significant CAGR in the forecasted period. This is attributed to the rising incidence of benign prostate hyperplasia. For instance, according to American urological association, approximately, 50 % of men living in the United States of age 60 years or older are suffering from benign prostate hyperplasia, along with this approximately 90% of men of 85 years or older age are suffering from benign prostate hyperplasia. Furthermore, with the rising prevalence of chronic disease such as diabetes affecting the bladder nerve is also fueling the demand for the urinary catheter market.
“Amongst end-users, the home-healthcare facility segment is growing with a significant CAGR in the market in 2021”
Based on the end-users the market is bifurcated into hospitals and home-healthcare facilities. Amongst these, the home-healthcare facility is anticipated to grow with a significant CAGR in the forecasted period. This is attributed towards its cost-effectiveness and convenience. The home healthcare facility provides cost-effective alternatives to hospitals and clinic-based care, particularly for patients with chronic conditions requiring ongoing treatment and support. Additionally, with technological advancements, home healthcare can provide remotely monitor patients’ vitals, collect data and design treatment plans accordingly. These elements are driving the demand for the urinary catheter market.
Urinary Catheter Market Report Coverage
“North America is anticipated to grow with significant CAGR of the urinary catheter market in 2021”
North America is anticipated to grow with a significant CAGR in the 2021 market. This is attributed towards the rising incidence of chronic diseases such as urinary infection, bladder cancer, bladder obstruction, benign prostate hyperplasia and other medical conditions. For instance, according to the Canadian cancer society 2022 report, approximately 13,300 people are diagnosed with bladder cancer, further as per the above-mentioned source around 10,000 men and 3000 women are diagnosed with bladder cancer. Thus, with the rising incidence of targeted disease, North America is anticipated to grow with a significant CAGR in the forecasted period.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global urinary catheter market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Urinary Catheter Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global urinary catheter market were the three major steps undertaken to create and analyze the adoption of urinary catheters in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global urinary catheter market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the urinary catheter market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the urinary catheter market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the urinary catheter market. Further, we conducted factor analysis using dependent and independent variables such as product type, application and end-users of the urinary catheter market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the urinary catheter market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global urinary catheter market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the urinary catheter market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global urinary catheter market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global urinary catheter market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of disorder type, and service type in the global urinary catheter market.
The main objective of the Global Urinary Catheter Market Study
The current & future market trends of the global urinary catheter market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the urinary catheter market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the disorder type and service type.
- Define and analysis of the regulatory framework for the urinary catheter industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the urinary catheter market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the urinary catheter market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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