Urinary catheters: Key market research findings
- The Americas dominate the market geographically
- Intermittent catheters account for a majority of the market’s revenue
- Key vendors – B. Braun Melsungen, C. R. Bard, Coloplast, Medtronic, and Hollister
The market research analysts at Technavio predict the global urinary catheter market to grow at a CAGR of more than 5% between 2016 and 2020. The growth of the market is spurred by technological advancements that have led to the development of anti-infection catheters. Physicians across the globe are increasingly recommending antiseptic-coated and antimicrobial-coated urinary catheters to help minimize the risk of CAUTIs. Vendors in the market are also transitioning from the use of traditional materials such as rubber to silicone, latex, and PVC to develop biocompatible urinary catheters. The global urinary catheter market was dominated by the Americas in 2015, which accounted for more than 60% of the overall market share. The availability of favorable reimbursement scenarios in the region will further fuel the adoption of urinary catheters in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of urinary catheter segments based on the product.
“The use of coated urinary catheters is becoming increasingly popular in the global market. Many physicians across the globe are promoting the use of urinary catheters coated with Teflon, silicone elastomer, hydrogels, and antimicrobial agents. Silicone and polymer substitutes for latex materials have led to the development of lubricious internal and external surfaces in urinary catheters. These catheters also reduce the pain during insertions,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
During 2015, the intermittent catheters segment is expected to showcase the fastest growth in the global market for urinary catheters over the next four years. Intermittent catheters are meant for short term use and are inserted into the bladder via the urethra, causing urine to flow through the catheter tube into the collection bag. The high growth rate of this market segment can be accredited to the development of advanced intermittent catheters that are portable, discreet, safe, user-friendly, and cause limited or no pain during insertion.
The key vendors in the global urinary catheters market include B. Braun Melsungen, C. R. Bard, Coloplast, Medtronic, and Hollister. Vendors in the market are adopting various strategies such as online marketing, home service, use of new technologies for product development, and manufacturing of customized urinary catheter for older people. Implementation of such strategies is leading to the development and use of various advanced devices. These strategies also help vendors expand their product portfolio and gain market shares.
A more detailed analysis is available in the Technavio report, Global Urinary Catheters Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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