The urinary catheters market is expected to reach USD 2.19 billion by 2022 from USD 1.45 billion in 2017, growing at a CAGR of 8.5 percent, predicts MarketsandMarkets. The growing prevalence of urinary incontinence, increasing number of surgical procedures across the globe, and the favorable reimbursement scenario for the urinary catheters in the United States and Asian countries are the major factors driving the growth of the market.
In 2017, the Foley catheters segment is expected to account for the largest share of the market. The large share is attributed to the increasing number of surgeries, rising geriatric population, and increasing incidences of urinary incontinence. The coated urinary catheters are expected to account for the largest share of the urinary catheters market. Coated catheters ensure easier, more comfortable insertion, thereby reducing the risk of urethral damage and lead to better patient satisfaction. These advantages are driving the adoption of coated catheters.
Male catheters are expected to dominate over female catheters by accounting for the largest share of the global market owing to the rising geriatric male population and increasing incidence of urinary incontinence in men.
The global urinary catheters market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). However, the market in Asia is expected to witness the highest growth during the forecast period. Emerging economies such as China and India are expected to provide growth opportunities for players in the global market over the next five years. The increasing number of hospitals, improving healthcare infrastructure, increasing incidence of urinary incontinence, and growing geriatric population are the key factors driving the growth of the market in Asia.