July 23, 2024

Urinary Catheters Market Propelled by Rising Prevalence of Urinary Incontinence

A urinary catheter is a medical device that is inserted into the urinary bladder through the urethra to drain urine from the bladder. Urinary catheters are widely used for patients with urinary incontinence, urinary retention, or for monitoring urine output in critically ill patients. The rising prevalence of urinary incontinence especially in aging population is the primary driver of the urinary catheters market.

The global urinary catheters market is estimated to be valued at US$ 5,293.6 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rising prevalence of urinary incontinence Urinary incontinence affects people of all ages globally and is one of the most common reasons for admission to nursing homes. It is estimated that nearly 25 million Americans experience urinary incontinence annually. Growing geriatric population is one of the major risk factors for urinary incontinence. According to the United Nations, the global population aged over 60 years is expected to double from 12% to 22% between 2015 and 2050. Increase in aging population prone to urinary disorders is expected to drive the growth of the global urinary catheters market during the forecast period.

SWOT Analysis

Strength: Urinary catheters have wide application in healthcare facilities which drives their demand. They help drain urine from bladder which provides comfort to patients.
Weakness: Possibility of urinary tract infections if not used properly. Higher costs associated with intermittent and external catheters.
Opportunity: Growing geriatric population prone to urological ailments presents an opportunity. Rise in number of surgical procedures boosts market expansion.
Threats: Alternative treatment options pose competition. Stringent regulations can increase compliance costs.

Key Takeaways

The global urinary catheters market is expected to witness high growth. The market was valued at US$ 5,293.6 Mn in 2024 and is anticipated to reach US$ 7,925.4 Mn by 2030, expanding at a CAGR of 5.6% during the forecast period. North America dominated the market in 2024 and is expected to maintain its lead, growing at a CAGR of 5.1% till 2030.

Regional analysis

North America holds the major share of the urinary catheters market currently due to the rising incidence of urinary incontinence and continuous technological advancements. The United States dominates the regional market owing to the well-developed healthcare infrastructure and growing aging population prone to urological issues.

Key players

Key players operating in the urinary catheters market are B. Braun Melsungen AG, Coloplast Corp., C.R. Bard Inc., Hollister Inc., Medtronic PLC, Teleflex Inc., Cook Medical, ConvaTec Group PLC. These manufacturers are focusing on new product launches and strategic collaborations for sustained market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it