The market for urinary catheters is highly competitive, with six to seven major global players and several local players. The major companies in terms of share as of 2013 were: Coloplast A/S with 13.6%, C. R. Bard, Inc. with 12.3%, B. Braun Melsungen AG with 11.5%, Teleflex Incorporated with 11.0%, Hollister Incorporated with 9.0%, Covidien plc with 5.3%, and Boston Scientific Corporation with 4.5%. Collectively, these seven players held 67.2% of the market in 2013 Presence of both global and local players is reducing the bargaining power of suppliers in the market for urinary catheters, although stringent regulations in the global medical devices market is encouraging the demand for quality and durable products. This in turn increases the bargaining power of established global suppliers.
The opportunity in the global urinary catheters market is expected to be worth US$2.3 bn by the end of 2024. The market is projected to expand at a CAGR of 5.1% during the course of the forecast period.
By Product Segment, Intermittent Catheters Account for Over Half the Demand
In terms of product type, the global market for urinary catheters is divided into: intermittent (temporary) catheters, Foley (indwelling) catheters, and male external (condom) catheters. Out of these three, intermittent catheters solely accounted for more than half the global revenue. The pattern is projected to continue throughout the forecast period.
Geographically, North America contributes the most significant chunk to the global market for urinary catheters in terms of revenue. The region is projected to remain the most prominent market across the forecast duration and account for revenue share of over 60% by 2020. However, the demand for urinary catheters in Asia is expected to grow at a faster rate due to the rapid increase in the aging population, the increased incidences of urinary disorders, and the rising demand for minimally invasive and technologically advanced urinary catheters. Growing awareness and affordability is also contributing to the surging demand in Asia.
Increased Cases of Urinary Disorder Fueling Demand for Urinary Catheters
An increase in the incidence of disorders such as urinary incontinence, dementia, multiple sclerosis, and urine retention disorders is the primary driver in the market for urinary catheters. For example, according to an article published by CamStent Ltd., among all hospitalized patients in the U.S., over 25% receive urinary catheterization for proper bladder drainage each year. As per a report by WHO, over 200 million people are presently suffering from one or the other bladder control problem, which essentially requires urinary catheterization.
A rapid increase in the global aging population, especially in developed countries such as the U.S., Japan, and the U.K., is likely to result in increased urinary catheterizations. Moreover, catheter-associated urinary tract infections (CAUTIs) are a major cause for concern among healthcare providers because more than 80% of healthcare-associated urinary tract infractions (UTIs) are caused due to indwelling or Foley catheters. The availability of intermittent catheters and male external catheters have somewhat fulfilled the requirements as these catheters have been least associated with the risk of contracting CAUTIs.
The most prominent opportunity in the market for urinary catheters is the unmet demand in emerging economies, such as China, India, and Russia. Furthermore, increased government guidelines and rising awareness levels among patients requiring catheterization are expected to augment the market.
Foley and Indwelling Urinary Catheters Found to be Incompetent
According to the U.S. Centers for Disease Control and Prevention (CDC), approximately 80% of CAUTIs are caused due to catheterization using Foley or indwelling urinary catheters. This is expected to result in the restricted use of these catheters, particularly in regions where the occurrence of hospital-acquired infections has been high.
The author of this report observes, “The emergence of new CAUTIs that are paving the way for novel products and the scope for mergers and acquisitions are opening up a window of opportunity for new players.”
The information presented in this review is based on a Transparency Market Research report, titled, “Urinary Catheters Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
Key Segments of the Urinary Catheters Market
On the basis of Product Type:
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