Global Intermittent Catheters Market Expected to Reach $1,655.5 Million by 2023
PORTLAND, Oregon and PUNE, India, May 31, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Intermittent Catheters Market by Product, Indication, Category and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global intermittent catheters market was valued at $1,655.5 million in 2016, and is projected to reach $2,950.7 million by 2023, growing at a CAGR of 8.7% from 2017 to 2023. The female length catheters segment accounted for about half share of the global market in 2016.
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Intermittent catheters are medical devices, which help to drain the urinary bladder in patients who lose control over their bladder. These catheters are inserted into the urethra and are guided to the bladder, which causes the urine to flow though the catheter tube and drain into the collection bag. Moreover, self-catheterization is possible using these catheters. Children aging seven or eight years can be trained to handle catheterization.
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The major driving factors of intermittent catheters market include increase in geriatric population and rise in urinary incontinence. Furthermore, the introduction of favorable reimbursement policies for catheters is expected to supplement the market growth. However, the availability of alternatives to intermittent catheters and price competition at domestic level hamper the market growth. Conversely, the emerging economies are anticipated to offer lucrative opportunities, owing to rise is disposable income and increase in awareness towards intermittent catheters.
Among the product segment, uncoated intermittent catheters accounted for the maximum share in the global market, due to wide usage of uncoated catheters, owing to new materials used in the production of uncoated intermittent catheters to minimize allergies associated to latex material.
Among the indication segment, the urinary incontinence segment accounted for the maximum share, owing to increase in prevalence of urinary continence in both male and female population globally. For instance, urinary incontinence affects about 4-8% or 400 million individuals globally.
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Key Findings of the Intermittent Catheters Market:
- The male length catheters segment accounted for about three-eighth share of the total market in 2016, and is expected to register a high CAGR of 8.4% from 2017 to 2023.
- The hospitals segment accounted for three-seventh share of the total market and is expected to grow at a CAGR of 8.6% during the forecast period.
- U.S. dominated the North American intermittent catheters market and is projected to grow at a CAGR of 7.0%.
- Australia is the fastest growing country in the Asia-Pacific intermittent catheters market during the forecast period, registering a CAGR of 11.0%.
- Ambulatory surgery centers accounted for one-third market share in 2016, and are expected to grow at a high CAGR of 8.9%.
In 2016, North America was the dominant revenue contributor, owing to high prevalence rate of urinary incontinence and surge in number of minimally invasive surgeries in the region. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high populace countries such as India and China, increase in awareness regarding intermittent catheters & urinary incontinence, and rise in disposable income.
The key players operating in the global intermittent catheters market are Adapta Medical, B. Braun Melsungen AG, Becton Dickinson Company, Coloplast A/S, ConvaTec Healthcare B S..r.l, Cure Medical, Hollister Inc., Medical Technologies of Georgia Inc., Pennine Healthcare and Teleflex Incorporated. Other players operating in the value chain are Hunter Urology, ASID BONZ, At Home Medical Products, Medical Technologies of Georgia and Hope Medical Supply Inc.
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