Global Urinary Catheter Market to Grow with a CAGR of 5.83% During 2022-2031; Growing Prevalence of Kidney Diseases to Drive the Market Growth
Kenneth Research published a report titled “Urinary Catheter Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global urinary catheter market in terms of market segmentation by mechanism, product, gender, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global urinary catheter market is anticipated to grow with a CAGR of 5.83% over the forecast period, i.e., 2022 – 2031. The market is segmented by product into intermittent catheters, indwelling catheters, and external catheters, out of which, the intermittent catheters segment is projected to attain the largest revenue of USD 2560.63 Million by the end of 2031. Moreover, in the year 2021, the segment registered a revenue of USD 1445.65 Million.
The global urinary catheter market is estimated to garner a revenue of USD 4599.80 Million by the end of 2031, up from a revenue of USD 2631.42 Million in the year 2021. Surge in the prevalence of kidney diseases globally which raises issues related to urinary incontinence amongst these patients, is one of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, the global urinary catheter market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is anticipated to garner the largest revenue of USD 2010.11 Million by the end of 2031. Moreover, in the year 2021, the market in the region generated a revenue of USD 1167.30 Million.
The research is global in nature and covers detailed analysis on the market 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). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Geriatric Population Worldwide to Promote the Market Growth
The United Nations, in its statistical report titled “World Population Prospects 2019”, stated that the count of people over the age of 65 is expected to be 1 in 6 people by the end of 2050, up from 1 in 11 in the year 2019.
Geriatric population are highly prone to different types of diseases. Owing to their age, most of the people are unable to lead a normal quality life, and hence often require medical support for their day-to-day activities. The surge in aged population worldwide is therefore expected to drive the demand for urinary catheters, and in turn, contribute to the growth of the market in the coming years.
However, the complications associated with catheterization, and the cumbersome reimbursement policies in several economies are expected to operate as key restraint to the growth of global urinary catheter market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global urinary catheter market which includes company profiling of 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. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts detailed overview of the global urinary catheter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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