The report "Urinary catheters devices" markets is segmented By Type (coated and uncoated catheters), By Product (Indwelling Catheters, Intermittent Catheters, and External Catheters), By Application (urinary incontinence, general surgery, benign prostatic hyperplasia, and other applications), By Region (North America, Europe, the Asia Pacific, and the Rest of the World) – Global forecast to 2030. By the year 2030, the Urinary catheter's global market share market size will reach 3.40 billion U.S. dollars with a significant growing CAGR of 5.5%. Rapid growth in the number of patients suffering from Urinary Tract Infections (UTIs), the rapidly growing geriatric population, and increasing cases of blockages in the urethra are the factors behind the growth in this segment.
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KEY FACTORS AUGMENTING THE MARKET GROWTH
The key driver for the overall market is a constant rise in the number of patients suffering from Urinary Incontinence (U.I.) which is one Type of urinary disorder. According to the reports suggested by the National Center for Biotechnology Information (NCBI). The growth of the geriatric population is also accounted for the market's increasing revenues.
By Product "Intermittent Catheters" segment held the highest share in 2020
Indwelling Catheters, Intermittent Catheters, and External Catheters are the segments into which the global urinary catheters market is divided based on product. Among the three, Intermittent Catheters are currently enjoying the largest market share with a steady CAGR. Intermittent catheters are used widely over indwelling catheters as they are not prone to Urinary Tract Infections (UTIs). In addition, under Medicaid and Medicare programs, one can claim reimbursement for these types of catheters, thus increasing this segment's revenue generated.
By Type "Coated catheters" segment held the highest share in 2020
Coated and uncoated catheters into which the global urinary catheters market is divided based on Type. The Coated catheters segment is expected to have a large market share with a decent CAGR.
By Application "Urinary Incontinence" segment held the highest share in 2020
Urinary incontinence, general surgery, benign prostatic hyperplasia, and other applications into which the global urinary catheters market is divided based on application. The urinary incontinence segment among all is expected to grow with a decent CAGR. According to the reports suggested by American Urological Association, one-third of the population suffers from U.I., and women are more prone to U.I. than men.
By region, the North America segment held the highest share in 2020
On a regional basis, North America is currently enjoying the largest market share with a steady CAGR, followed by Europe. Growing occurrence of targeted diseases, such as bladder obstruction, BPH, urinary retention, bladder cancers, and U.I. are the prime factors attributed to the growth of the use of Urinary catheters devices in these regions.
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