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Urinary Self-Catheters Market to Reach $2.38 Bn, Globally, by 2026 at 4.1% CAGR: Allied Market Research
PORTLAND, Oregon, Aug. 5, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Urinary Self-Catheters Market by Product Type (Intermittent Catheter and External Catheter), Type (Male Type Catheter and Female Type Catheter), and Application (Benign Prostate Hyperplasia, Urinary Incontinence, Spinal Cord Injuries, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global urinary self-catheters market garnered $1.72 billion in 2018, and is estimated to reach $2.38 billion by 2026, growing at a CAGR of 4.1% from 2019 to 2026.
Surge in incidence of urinary disorders, supportive reimbursement policies, and increase in adoption of hydrophilic catheters drive the growth in the market. However, lack of awareness regarding utilization of self-catheters and availability of alternatives restrain the market growth. On the other hand, innovations in urinary catheters and untapped potential in emerging countries present new opportunities in the market.
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Intermittent catheters segment to offer lucrative opportunities
Based on product type, the intermittent catheters segment held the major market share in 2018, accounting for more than four-fifths of the total share, and is estimated to continue to dominate during the forecast period. Moreover, this segment is expected to grow at the highest CAGR of 4.3% from 2019 to 2026. This segment offers lucrative opportunities due to increase in adoption, wide availability at affordable prices, and surge in number of target population. The report also offers a detailed analysis of external catheters.
Spinal cord injuries segment to maintain its dominant position by 2026
On the basis of applications, the spinal cord injuries segment accounted for nearly one-third of the total market share in terms of revenue in 2018 and will maintain its dominant position throughout the forecast period. This is due to rise in adoption of self-intermittent catheters and increase in number of spinal cord injuries. However, the benign prostate hyperplasia (BPH) segment is estimated to grow at the highest growth rate with a CAGR of 5.3% from 2019 to 2026. This is attributed to rise in prevalence of BPH, increase in adoption of intermittent catheter over the indwelling catheter, and surge in aging population. The research also analyzes urinary incontinence and other applications.
North America to maintain its leadership status throughout the forecast period
North America held the highest market share in 2018, accounting for more than two-fifths of the total share, and will maintain its leadership status throughout the forecast period. This is due to presence of advanced facilities for healthcare, skilled medical professionals, and key market players in the region. However, Asia-Pacific would register the largest growth rate with a CAGR of 5.6% from 2019 to 2026, owing to improvement in awareness regarding health, progressing healthcare infrastructure, and rise in the number of target population in the emerging countries.
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Leading market players
Key market players analyzed in the report include Asid Bonz GmbH, Becton Dickson and Company (C.R. Bard), B Braun Melsungen AG, Coloplast A/S, Boston Scientific Corporation, Hollister, Inc., ConvaTec, Medtronic Plc., Medical Technologies of Georgia, Inc., and Teleflex Incorporated.
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