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Urinary catheters are tubular medical devices used to drain and collect urine from the bladder. They are commonly utilized in hospitals and other healthcare facilities to manage conditions such as urinary incontinence and urinary retention. There has been a significant rise in neurological disorders, prostate diseases, and other conditions requiring urinary catheterization among the geriatric population.
The global urinary catheters market is estimated to be valued at US$ 5,293.6 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the urinary catheters market is the increasing preference for intermittent catheters over indwelling catheters. Intermittent catheters are increasingly becoming the standard of care for neurogenic bladder dysfunction as they help reduce the risk of complications associated with long-term indwelling catheter use such as urinary tract infections. These catheters are easily removable and can be replaced as needed. With technological advancements, newer intermittent catheters are more comfortable to use and also support independent self-catheterization. Their improved design and easy handling are boosting their adoption rate globally.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the urinary catheters market is moderate as it requires high initial investments and regulatory approvals to manufacture medical devices.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of several established players and availability of products. However, buyers have lower bargaining power due to inelastic nature of demand for catheters.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of multiple component manufacturers and raw material suppliers.
Threat of new substitutes: There exists low threat from substitutes for catheters as there are limited medical substitutes available for urinary drainage.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of key global and domestic players competing on the basis of product differentiation, pricing, and marketing.
Key Takeaways
The global urinary catheters market is expected to witness high growth over the forecast period. The global urinary catheters market is estimated to be valued at US$ 5,293.6 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
North America is anticipated to hold a major share in the market and witness lucrative growth owing to rising prevalence of urinary incontinence and technological advancements in catheters. Europe is also expected grow significantly due to increasing aging population and favorable reimbursement policies for catheters. The urinary catheters market in Asia Pacific is poised to grow at a robust pace supported by improving healthcare infrastructure and rising medical tourism in the region.
Key players
Key players operating in the urinary catheters market are B. Braun, Coloplast, C.R. Bard, Hollister, Medtronic, Teleflex, Cook Medical. B. Braun holds a substantial share in the market and offers a wide range of intermittent and external catheters under the names such as SpeediCath and AutoVanc.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
