The Disposable Catheters Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
Global Disposable Catheters Market size- Industry Trends & Forecast Report 2027.
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The global Disposable catheters market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 7.3 billion in 2020. The market is further expected to touch USD 15.0 billion by 2027, growing at a CAGR of 11.8% during 2021-2027 (forecast period). The Disposable catheters market is likely to grow in the forecast timeframe due to the introduction of robotic-assisted interventions for vascular patients, which is leading to boost the industry growth. Furthermore, technological advancements in catheters are driving the market trends towards targeted interventional applications for precise lesions in specific vessels.
Global Disposable catheters Market Overview:
The catheter is characterized as a hollow pipe that can be inserted into the body to deliver the medicine, gas, fluid to patients or to drain bodily fluid such as urine. The introduction of advanced catheters is likely to ease the surgical procedures, along with the reduction in treatment time, these factors would be leading to a surge in market share. The different types of catheters such as electrophysiology diagnostics and ablation, PTCA balloon catheters, & indwelling catheters are readily available in the market. Urinary catheters used for various surgical applications and that are expected to be impacted to some extent due to the temporary postponement of various elective surgeries, as governments and authorities seek to ensure the availability of resources for COVID-19 patient.
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Disposable catheters Market Forecast and Trends
Growth Drivers
Growing prevalence of urinary incontinence
The high prevalence of urinary incontinence occurring among the patients is a major factor leading to the increased demand for urinary catheters across the globe. Also, the Prevalence rates are higher in the elderly population and among nursing home patients. Urinary catheters are used to manage incontinence, which cannot be treated or managed with medicines or surgery. The prevalence of urinary incontinence is also expected to grow due to the growing aging population and the increasing incidence of obesity, as these are the two major risk factors for urinary incontinence further. These factors are the major driver of the market.
Increase in the geriatric population
It is estimated that several countries today are facing an aging population, and it has increased to a large population. This rise in the aging population presents may act as an opportunity for disposable catheters. Moreover, urinary catheters are widely available with or even without a prescription, depending on the condition and application. It is also advised to seek consultation and prescription for catheters in case the patient decides to perform urinary catheterization at home. The Long-term indwelling urinary catheters can be an effective means of managing bladder dysfunction for some older people, where alternative strategies are unsuitable or unsatisfactory, and where the careful assessment of the patient and their problem has been undertaken.
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Restraints
Complications associated catheterization
Catheterization is characterized as a painful process. The insertion and also removal of poorly lubricated catheters can cause friction between the urethral walls and the surface of the device, which is although not only painful for the patient but can be also, lead to the narrowing of the urethra, bleeding, and infection. Thus, special care is required during catheterization to prevent urinary tract infections (UTIs) and catheter-associated urinary tract infections (CAUTIs). As a result, there are various alternative invasive and non-invasive treatment options in place for the treatment of temporary incontinence. Their availability, given the disadvantages of catheterization, is expected to limit the market for urinary catheters.
Impact of COVID-19 in industry
The global economy and humanity have been pushed into a crisis due to the COVID-19 pandemic. Due to the high infection rate and adverse impact on public health systems, various governments have enforced nationwide lockdowns significantly impacting manufacturing supply chains, trade, and related services. Players are currently considering digital solutions that would enable them to serve the community and provide new opportunities to do business. The production, manufacturing, supply chain, and other operations, have slowed down globally aimed to limit the spread of corona virus,
The global impact of the coronavirus disease 2019 (COVID-19) is likely only beginning and would significantly affect the disposable catheters market in 2020. The outbreak of COVID-19 has brought with it travel bans and quarantines; massive slowing of the supply chain; uncertainty in the stock market; falling business confidence, and growing panic among the population. Despite the growing uncertainty and panic, technology suppliers must continue to focus on their long-term investments, maintain engagement with partners and prospects, and look to specific markets for stability.
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Disposable catheters Market: By Product
Based on the product, the disposable catheters market is segmented into cardiovascular catheters, neurovascular catheters, urological catheters, intravenous catheters. The urological catheters are likely to dominate in the disposable catheters market as the urinary incontinence segment accounted for the largest share of the urinary catheters market in 2019. The urinary incontinence segment is also expected to witness the highest CAGR during the forecast period. The highest share and high growth of this segment can primarily be attributed to the increasing incidence of urinary incontinence, the growing geriatric population, and the increasing incidence of obesity.
Disposable catheters Market: Regional Insight
North America region is likely to dominate in the Disposable catheters market, followed by Asia pacific, and others. The developing countries like US and Canada have major opportunities for industrial production, retail sales, and fixed-asset investment for Disposable catheters. Several other economies such as Indonesia, Philippines, and Singapore in the Asia pacific region are also forecast to grow at modest rates. The company’s productivity is directly proportional to the productivity of workers. Hence, businesses in these regions are commonly embracing different instruments to help workers increase their productivity.
Recent Development
· Recently in 2019, Bactiguard has launched BIP Foley TempSensor. This will help in the enhancement of the urinary catheters’ product portfolio of Bactiguard.
· In 2019, ConvaTec Group acquired Southlake Medical Supplies, Inc. (US). This acquisition helped to strengthen ConvaTec’s distribution of catheter-related supplies in the US.
Competitive landscape
The Disposable catheters market is fragmented owing to the presence of number of companies that provides varied disposable catheters products. However, the companies that hold the majority share of disposable catheters market are B. Braun Melsungen AG , Boston Scientific Corporation , Coloplast Ltd. ,ConvaTec Inc. , Becton, Dickinson and Company, Cardinal Health , Teleflex Incorporated Wellspect HealthCare , and Cook Medical Asid Bonz GmbH , Degania Silicone Ltd. , Bactiguard , Medical Technologies of Georgia , ROCAMED, Well Lead Medical Co., Ltd. Go Medical Industries Pty Ltd. , Cure Medical, LLC, Amsino International, Inc. ,Urocare Products, Inc. , and M Urinary Catheters LLC. , CompactCath , Hunter Urology , MANFRED SAUER GMBH , and Ribbel International Limited and other prominent players.
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In the disposable catheters market, prominent market participants compete on the basis of price and product quality. Small and medium-sized market players are expected to show considerable improvements in the foreseeable future, given the moderate level of capital expenditure needed to set up a business. The large-sized companies, however, are likely to aim for global expansion, in a bid to gain a more considerable brand reputation.
Scope of the Report
By product
Ø Cardiovascular Catheter
Ø Neurovascular Catheters
Ø Urological Catheters
Ø Intravenous Catheters
By End Use Industry
Ø Hospitals & Clinics
Ø Specialty Catheters
Ø Ambulatory Surgical Catheters
By Region
Ø North America
Ø Europe
Ø Asia Pacific
Ø Middle East and Africa
Ø Latin America
Table of Content
Chapter 1: Global Disposable Catheters Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Disposable Catheters market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Disposable Catheters Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Disposable Catheters market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Disposable Catheters market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Disposable Catheters market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Disposable Catheters market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Disposable Catheters business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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