Indwelling Catheters Market

The rate of annual surgical procedures and urological disorders continues to increase, leading to high demand for urological indwelling catheter devices. Rising use of indwelling urinary catheters for hospitalized patients is significantly attracting leading industry players to make scientific and material advancements in the designing and development of novel indwelling catheter devices with minimum risk of infection, which will aid the expansion of the global indwelling catheters market size over the coming years. 

For instance, the adoption rate of urinary indwelling catheters ranges from 15% to 20% among hospitalized patients in the U. S. However, in South Asia and the Middle East & Africa, the adoption rate is significantly lower, owing to poorly established healthcare systems in these regions.

Significant Incremental Opportunity in Indwelling Catheters Market

Increased prevalence of urological disorders and surgeries has boosted product demand in the global indwelling catheters market. Incremental opportunity in the global indwelling catheters market is estimated to be US$ 5.7 Bn over the forecast period of 2020 to 2030.

North America holds a major indwelling catheters market share, and is expected to dominate the market during the forecast period. The main factor for the dominance by the region is higher adoption of indwelling catheters for patients, with increased investments in research & development. This reflects the rise in awareness of urological disorder with standard hygienic practices and regulatory compliance requirements demanded by U.S. healthcare regulatory authorities.

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Strategic Collaborations & Innovations by Leading Industry Players to Propel Expansion

Industry players are focusing on partnerships and acquisitions to expand their indwelling catheters market share. This key trend is observed across North America, Europe, and in Asian countries such as Japan and China. Such collaborative strategies enable key players to accelerate their market reach and gain revenue.

For instance, in November 2019, ConvaTec Group, Plc. entered into an agreement with Southlake Medical Supplies, Inc., a catheter supplier, purchasing its assets. This partnership is expected to strengthen the position of ConvaTec Group, Plc. in the global indwelling catheters market.  

Product innovation, development, and product launches are fundamental strategies focused by leading players to expand their product portfolio in the indwelling catheters market. Innovative ideas for advancements in indwelling catheters with addition of anti-bacterial properties to prevent incidence of catheter-associated urinary tract infections (CAUTIs) are expected to provide value-added benefits in medical applications.

For instance, NanoVibronix, a global medical device company introduced UroShield™, an ultrasound-based product used in combination with an indwelling catheter that prevents bacterial colonization and minimizes the incidence of CAUTI. Such introductions are expected to lead to the rapid growth of the indwelling catheters market.

Competitive Landscape of Indwelling Catheters Market

The indwelling catheters market is characterized as a consolidated market space, with key players across the globe such as Teleflex Incorporated, Cardinal Healthcare, Inc., B. Braun Melsungen AG, Co., Coloplast A/S, Medtronics plc, ConvaTec plc., Sterimed Group, Becton, Dickinson and Company, McKesson Medical, Poiesis Medical LLC, Cook Medical, Inc., Smiths Medical, Inc., and Rocket Medical plc.

COVID-19 Crisis Impact – Product Launch

The COVID-19 pandemic has affected the global economy, with major factors such as lack of raw material, disturbance in supply chains, reduced workforce, and limited global manufacturing capacity of medical devices projected to hamper the growth of the indwelling catheters market.

Urological management in patients that have undergone surgeries or suffering from urological disorders needs to be tailored during this uncertain COVID-19 pandemic situation. To prevent exposure to virulence, there has been significant decline in hospitalized procedures and subsequent use of indwelling catheters. However, a few players are converting this challenge into an opportunity by developing technologically-advanced products.

• For instance, Bactiguard, a Swedish medical device company, introduced BIP Foley TempSensor, an indwelling catheter with a combined property of integrated temperature monitoring and infection control, which holds a promising potential for prevention of exposure to COVID-19.

Analysts’ Viewpoint

An extensive analysis of the indwelling catheters market has brought our analysts to a conclusion that, the market is growing at a significant pace. Currently, indwelling urinary catheters is the targeted segment for major players, and hence, this segment is growing faster in the global indwelling catheters market in terms of CAGR. North America holds nearly half of the revenue share due to high demand for indwelling catheters, rise in healthcare expenditure, and price hike in the region. Emerging countries such as India, Brazil, and China are expected to offer lucrative opportunities for players in the indwelling catheters market, owing to high pool of patients, increased prevalence of urinary incontinences, and rise in awareness among the population.