CHICAGO, Sept. 10, 2020
CHICAGO, Sept. 10, 2020 /PRNewswire/ -- According to the new market research report "Urinary Catheters Market by Product (Indwelling, Intermittent, External), Type (Coated, Uncoated), Application (Urinary Incontinence, Benign Prostate Hyperplasia, General Surgery), Usage (Male, Female), End Users (Hospitals) & Region - Global Forecast To 2025", published by MarketsandMarkets™, the global Urinary Catheters Market is projected to reach USD 2.6 billion by 2025 from USD 2.0 billion in 2020, at a CAGR of 5.5% during the forecast period.
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The growing prevalence of urinary incontinence, an increasing number of surgical procedures across the globe, high incidence of prostate cancer, and the favorable reimbursement scenario are the major factors driving the growth of this market.
In 2019, the indwelling catheters segment accounted for the largest share of the urinary catheters market
Based on products, the global market is segmented into indwelling catheters, intermittent catheters, and external catheters. Indwelling catheters accounted for the largest share of the market in 2019. These catheters are also widely used in high-acuity patient units, with critical care and intensive care units registering the highest usage of indwelling catheters. Growth in this market is largely driven by the cost-efficiency and high availability of indwelling catheters in the market.
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The coated catheter segment is expected to grow at the highest CAGR during the forecast period
By catheter type, the global market is segmented into coated and uncoated catheters. Coated catheters accounted for the largest share of the market in 2019. This segment is also expected to register the highest CAGR during the forecast period. Growth in this market is mainly driven by the various advantages associated with coated catheters, such as easier, more comfortable insertion, low risk of catheter-associated urinary tract infection, reduced risk of urethral damage, and improved patient satisfaction.
North America was the largest regional market for urinary catheters market in 2019
The market is segmented into four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America was the largest regional market for urinary catheters in 2019. The large share of North America in this market can be attributed to the favorable reimbursement scenario and the rising volume of surgeries in the region. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The high growth in this market can be attributed to the growing healthcare spending in emerging Asian countries, rising prevalence of urinary incontinence, and the large target patient population in the region.
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The global urinary catheters market is highly consolidated. The prominent players operating in this market include B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Coloplast Ltd. (Denmark), ConvaTec Inc. (UK), Becton, Dickinson and Company (US), Cardinal Health (US), Teleflex Incorporated (US), Wellspect HealthCare (US), and Cook Medical (US). Other players include Asid Bonz GmbH (Germany), Degania Silicone Ltd. (Israel), Bactiguard (Sweden), Medical Technologies of Georgia (US), ROCAMED (Monaco), Well Lead Medical Co., Ltd. (China), Go Medical Industries Pty Ltd. (Australia), Cure Medical, LLC, Amsino International, Inc. (US), Urocare Products, Inc. (US), J and M Urinary Catheters LLC. (US), CompactCath (US), Hunter Urology (England), MANFRED SAUER GMBH (Germany), and Ribbel International Limited (India).
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