Indwelling Catheters Market to Register 7.2% CAGR through 2031 Amidst Growing Prevalence of Urological Disorders

Over 45% of Indwelling Catheters Sales to be Concentrated in North America

The research by Fact.MR on the indwelling catheters market closely examines significant growth drivers that will impact market sales during the forecast period (2021-2031). The study offers in-depth information on significant aspects, including drivers and key tactics employed by market participants. The research also examines current trends across various segments such as product, material, coating type, application, and end user.

NEW YORK, Oct. 3, 2022  /PRNewswire/ -- The global indwelling catheters market reached a valuation of US$ 1 billion in 2021 and it is expected to grow at a robust CAGR of 7.2% between 2021 and 2031, reaching US$ 2 billion by 2031.

Indwelling catheters are urinary catheters inserted into the bladder through urethra and remain in situ to drain urine. They have become essential equipment used by medical professionals to treat a wide range of urinary disorders.

Growing prevalence of urological disorders such as urinary incontinence and benign prostatic hyperplasia (BPH) across the world is a key factor boosting sales of indwelling catheters in the market.

Similarly, rise in the number of urological procedures along with increasing usage of urinary catheters in prostate gland medical procedures, especially for patients experiencing BPH will continue to bolster market growth during the forecast period.

For instance, around 250,000 surgeries are conducted in the U.S. for BPH treatment as per a study conducted by the American Academy of Family Physicians (AAFP). This is positively influencing the indwelling catheters market and the trend is likely to continue during the forecast period.

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In addition to this, rise in geriatric population, growing health awareness, and advancement in urinary catheters will create lucrative growth opportunities for indwelling catheter manufacturers over the next ten years.

Regionally, North America is expected to be the largest market for indwelling catheters, followed by Europe. Fact.MR, predicts North America to account for a share of 45% in the global indwelling catheters market during the forecast period.

Rise in the number of urological surgeries conducted in the U.S., availability of advanced medical technologies, and presence of favorable reimburse policies are driving the North American market.

Key Takeaways:

• Based on product, 2-way catheters segment is expected to hold around 50% market share in the global market throughout the forecast period.
• Based on material, the latex-based indwelling catheters are likely to hold nearly 40% share of the market, owing to their properties, such as low price and flexibility.
• By coating type, hydrogel coating indwelling catheters segment is likely to hold over 45% of market share during the assessment period.
• North America is anticipated to account for nearly half of share in indwelling catheters market during the assessment period.
• With rising geriatric population and increasing prevalence of urinary disorders, Europe is likely to account for 35% of share of the global market through 2031.
• Asia is expected to hold around 25% of market share in the overall indwelling catheters market by the end of the forecast period.

Growth Drivers:

• Growing geriatric population along with increasing prevalence of urinary incontinence is likely to create demand for indwelling catheters.
• Increasing usage of indwelling catheters in managing benign prostatic hyperplasia (BPH) is bolstering market growth
• Rise in the number of urological surgeries across the world will further boost sales of indwelling catheters over the next ten years.

Restraints:

• High risk of bladder or urinary tract infection due to indwelling catheter is restraining market growth
• Concerns about the occurrence of bladder spasms while using indwelling catheters is likely to create challenges for manufacturers.

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Competitive Landscape:

Leading indwelling catheters manufacturers are focusing on new product launches and approvals to boost their position in the market. Besides this, they are adopting strategies such as new partnerships, mergers, acquisitions, and distribution agreements to expand their global footprint.

For instance,

• In August 2022, Teleflex Incorporated announced that the U.S. Food and Drug Administration (FDA) has cleared an expanded indication for its specialty catheters and coronary guidewires for use in crossing chronic total occlusion percutaneous coronary interventions (CTO PCI)
• In July 2021, Becton Dickinson & Company acquired Tepha, a Lexington, MA-based company that has developed GalaFlex, a bioresorbable scaffold for soft tissue support and to repair, elevate and reinforce deficiencies. The acquisition is aimed at driving innovation and growth for BD's surgical mesh portfolio.

Key Companies Profiled by Fact.MR

• Bactiguard
• Poiesis Medical LLC
• Cook Medical LLC
• B Braun Melsungen AG
• Amsino International, Inc.
• Cardinal Health Inc.
• SunMed LLC
• Medline Industries, Inc.
• Teleflex Incorporated
• Cardinal Health Inc.
• Becton Dickinson & Company
• Medline Industries, Inc.
• Coloplast Corp.

More Valuable Insights on Indwelling Catheters Market

In its latest study, Fact.MR offers a detailed analysis of the global indwelling catheters market for the forecast period of 2021 to 2031. This study also divulges key drivers and trends promoting the sales of indwelling catheters through detailed segmentation as follows:

By Product:

• 2-way
• 3-way
• 4-way

By Material:

• Latex
• Silicone

By Coating Type:

• Hydrogel Coating
• Silver Alloy Coating
• Silicone-elastomer
• Other

By Application:

• Short-term Usage
• Post-surgical Care
• Critical Care
• Long-term Usage
• Urinary Incontinence
• Benign Prostate Hyperplasia

By End User:

• Hospitals
• Long-term Care Facilities
• Other End Users

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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Key Questions Covered in the Indwelling Catheters Market Report

• What is the estimated market size of indwelling catheters in 2021?
• What will be the global growth rate of indwelling catheters market until 2031?
• What market-specific variables are driving the indwelling catheter demand?
• Which region is predicted to lead the worldwide indwelling catheters market between 2021 and 2031?
• What is the expected market estimation of the indwelling catheters during the forecast period?
• What factors are responsible for the market growth of indwelling catheters throughout the anticipated period?

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