Urinary Catheters Market - By Top Players, Latest Trends, Demand Analysis and Forecast

The global urinary catheters market size was valued at USD 4.65 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028.

The global Urinary Catheters Market size is anticipated to reach USD 7.94 billion by 2028 registering a CAGR of 7.0%, according to a new report by Grand View Research, Inc. Increasing number of patients suffering from Urinary Tract Infections (UTI) and blockages in the urethra are anticipated to boost the product demand. The advent of technologically advanced products is also expected to drive market growth. For instance, RIOCATH - a Reversal Inside Out Catheterization, developed by Riocath global in collaboration with IOCB Prague, reduces the chances of infections in the body. 

The key application segments include Benign Prostate Hyperplasia (BPH) & prostate surgeries, Urinary Incontinence (UI), spinal cord injury, and others. Among these, UI is the largest application segment owing to the increasing prevalence of the disease. Factors such as surgery of the prostate gland, spinal cord injury, injury to the bladder nerves, blockage in the urine due to kidney stones, and blood clots in the urine can cause UI. However, the BPH & prostate surgeries application segment is estimated to register the fastest CAGR during the forecast years. Based on product types, the market is divided into intermittent, foley/indwelling, and external catheters. The intermittent catheters segment dominated the overall market in 2020. This can be attributed to the increasing number of patients suffering from various urinary disorders. 

Related Press Release @ Urinary Catheters Market Report

Urinary Catheters Market Report Highlights

• North America was the leading regional market with the highest revenue share in 2020 and is estimated to expand further at a steady CAGR from 2021 to 2028
• This growth can be attributed to the high incidence of targeted diseases, such as UI, bladder obstruction, urinary retention, Benign Prostate Hyperplasia (BPH), and bladder cancer, in the region
• The key players are introducing technologically advanced products to gain a competitive advantage in the industry
• For instance, Coloplast is planning to expand its SpeediCath product portfolio by launching the SpeediCath Navi, which is designed especially for the treatment of patients suffering from chronic urine retention