Heading: Indwelling Catheters Market Estimated To Witness High...

Heading: Indwelling Catheters Market Estimated To Witness High Growth Owing To Increasing Incidences Of Urinary Incontinence

Posted 2023-12-12 14:20:17

Paragraph: The indwelling catheters market is estimated to be valued at US$ 1.74 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Indwelling catheters are flexible tubes inserted into the bladder through the urethra to drain urine from the bladder. They are commonly used for patients undergoing surgeries or with conditions that make it difficult to control urination such as urinary incontinence, retention, and neuropathy among others. The various product types include foley catheters, condom catheters, and intermittent catheters.

Market Dynamics:
The indwelling catheters market is expected to be driven by the increasing prevalence of urinary incontinence across the globe. Urinary incontinence affects people of all ages and is more prevalent among women than men. According to the National Association for Incontinence, over 25 million Americans experience urinary incontinence with women being nearly twice as likely as men to experience it. Furthermore, risk factors such as obesity and pregnancy also contribute to the rising cases of urinary incontinence. Additionally, growing geriatric population is also fueling the demand for indwelling catheters as older individuals are more prone to develop limited mobility, Alzheimer's disease and related dementia which can affect urinary control. For instance, half of U.S adults aged 65 years and above experience urinary incontinence.

SWOT Analysis

Strength: Indwelling catheters have long product life and require less frequent changes, reducing healthcare costs. They provide continuous drainage of urine and are more comfortable for patients requiring long-term catheterization. Advanced catheters made of silicon and hydrogel coating prevent infections and blockages.

Weakness: Prolonged use of indwelling catheters can cause numerous complications like urinary tract infections, bladder stones, and damage to the urethra. They also require medical expertise and aseptic precautions during insertion and removal.

Opportunity: Rising geriatric population suffering from urinary incontinence and increasing cases of spinal cord injuries drive the demand. Growing awareness about available treatment options and home healthcare also provide opportunities.

Threats: Alternative treatments like intermittent catheters pose competition. Stringent regulatory approvals and product recalls affect revenues. Poor reimbursement policies in developing nations are also challenges.

Key Takeaways

The global Indwelling Catheters Market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing prevalence of urinary incontinence and usage of catheters in elderly population suffering from limited mobility.

Regional analysis
North America dominates the market and is expected to continue leading, owing to rise in spinal cord injuries, favorable reimbursement policies, and presence of key players. Asia Pacific exhibit fastest growth due to growing medical tourism, increasing healthcare spending, and rising awareness.

Key players analysis
Key players operating in the indwelling catheters market are Sterimed Group., Angiplast Pvt Ltd, HEMC (Hospital Equipment Manufacturing Company), Cardinal Health, Advin Health Care, AdvaCare Pharma, Teleflex Incorporated, GWS Surgicals LLP, BACTIGUARD AB, Medtronic, Convatec Inc. Major players focus on new product launches, partnerships and acquisitions to strengthen their market position.