Kenneth Research has released a report titled “Urinary Catheter Market: Global Demand Analysis & Opportunity Outlook 2031” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
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, according to the statistical report titled “World Population Prospects 2019” by the United Nations.
The statistics portray the growing geriatric population worldwide and therefore the need for products that can help them lead a normal quality life. Urinary catheter is a device that helps people suffering from urinary incontinence. Since most of the aged population who are suffering from chronic diseases are bed ridden, and require medical support to perform their day-to-day activities, the demand for supporting devices, such as urinary catheters are on the rise, which in turn, is anticipated to drive the growth of the market in the coming years.
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 estimated to garner a revenue of USD 4599.80 Million by the end of 2031. Moreover, in the year 2021, the market registered a revenue of USD 2631.42 Million. The market is segmented by product into intermittent catheters, indwelling catheters, and external catheters. The intermittent catheters segment, out of all the other segments, is projected to attain the largest revenue of USD 2560.63 Million by the end of 2031. Additionally, the segment registered a revenue of USD 1445.65 Million in the year 2021.
By region, the global urinary catheter market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in North America is anticipated to garner the largest revenue of USD 2010.11 Million by the end of 2031. Additionally, the market in the region registered a revenue of USD 1167.30 Million in the year 2021.
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.
However, the complications associated with catheterization, and the cumbersome reimbursement policies in several economies are predicted to hinder the market growth in the coming years.
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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Urinary Catheter Market: Global Demand Analysis & Opportunity Outlook 2031”, analyses the overall global urinary catheter industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global urinary catheter market in the near future.
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