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Indwelling Catheters Market
According to PMR, the global indwelling catheters market is anticipated to witness high growth at 6.4% CAGR and be valued at over US$ 13.5 Bn by 2031.
PUNE, MAHARASHTRA, INDIA, February 17, 2022 /EINPresswire.com / --
The Indwelling Catheters Market is slated to grow on a stupendous note in the future. In the ongoing situation, virtual monitoring tools coupled with telehealth consultations could help in getting patients treatments at home instead of hospitals. There are pre-programmed mobile devices, pulse oximeters, blood pressure monitors, and various other devices that help the healthcare personnel in keeping up with basic information. This trend is bound to keep the healthcare vertical continuously on its toes in the years to come as well.
According to a recent study by Persistence Market Research, the global indwelling catheters market is anticipated to witness high growth at 6.4% CAGR and be valued at over US$ 13.5 Bn by 2031.
Demand for indwelling catheters is surging with increasing geriatric population. With increasing age, the immune system becomes weak and people become more prone to illnesses and suffer from different diseases such as cancer and kidney diseases.
According to Population Reference Bureau data of 2019, Japan, Italy, Greece, Portugal, and Germany are the top five countries with 28.2%, 22.8%, 21.8%, 21.8%, and 21.4%, respectively, of population over 65 years of age.
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With ever-increasing number of hospitals and surgeries, sales of indwelling catheters are also increasing in parallel. This is mainly because during or post-surgical procedures, there is the need to drain urine and keep the bladder empty.
Also, demand for indwelling catheter increased during the COVID-19 pandemic. This is primarily due to the increased number of patients admitted in hospitals seeking treatment for COVID-19 and its associated diseases. Thus, there was a positive impact of COVID-19 on the demand for indwelling catheters.
Company Profiles:
Teleflex Incorporated
Cardinal Health
B. Braun Melsungen AG
Coloplast
Medtronic
ConvaTec, Inc
Sterimed Group
Becton, Dickinson and Company
McKesson Medical
Poiesis Medical
COOK Medical
Smiths Medical
Rocket Medical plc
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Key Takeaways from Market Study
By product, peripheral intravenous catheters hold 66% market share in 2021.
By material, tetrafluorethylene-hexafluoropropylene (Teflon) accounts for 49.8% market share, because of its less frictional property which helps in easy insertion.
By packaging, single strip packs of indwelling catheters account for 62.2% of the market share in 2021.
By end user, hospitals account for 52.2% market share in due to rising number of patient's getting admitted to hospitals.
By region, North America held the largest market share of 47.9% due to the presence of key players in the region.
“Rising prevalence of urinary incontinence and increasing surgical procedures expected to drive demand for indwelling catheters over the decade,” says a Persistence Market Research analyst.
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Who is Winning in This Space?
Some of the main manufacturers of indwelling catheters are focusing on product launches, collaborations and acquisitions to enhance their market presence.
In November 2016, Coloplast acquired Comfort Medical, a U.S. distributor of catheters and ostomy supplies.
In March 2021, ConvaTec, Inc. acquired Cure Medical, a manufacturer of intermittent catheters.
In May 2019, Cardinal Health Inc. launched its RADIAL 360 portfolio, including RBL-TG™, RBL-JK™, and SUPER TORQUE® PLUS diagnostic catheters.
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Persistence Market Research brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031.
The global indwelling catheters market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The market is segmented into five parts based on product (indwelling urinary catheters, indwelling plural catheters, indwelling peritoneal catheters, indwelling nephrostomy catheters, and peripheral intravenous catheters), material (latex, PVC, silicone, tetrafluorethylene-hexafluoropropylene (teflon), and others), packaging (single strip packs and kit packs), and end user (hospitals, ambulatory surgical centers, long-term care centers, and home care), across seven major regions of the world.
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