Catheters Market is poised to register a CAGR of 7.7% during the forecast period (2022-2027).
The rising COVID-19 pandemic across the world and the lockdown situation are expected to have a significant impact on the market due to on-hold services, such as treatment, diagnostic, and surgical services, to prevent the spread of COVID-19 disease. The increasing number of COVID-19 cases all around the world has helped in increasing the number of in-patient admissions. As governments and healthcare institutions are found to increase efficient medical treatment to treat COVID-19 patients, the usage of catheters will behold an upsurge in hospitals and emergency clinics. Patients with suspected or confirmed diagnoses of COVID-19 are being treated with catheters, and hence, the demand for these devices may remain huge throughout the pandemic. For instance, in April 2020, Bactiguard introduced a new urinary catheter, BIP Foley TempSensor for continuous temperature monitoring. The company reported that in the pandemic situation, it has a urinary catheter combined with integrated temperature monitoring and infection control. Such technological advancements may help the market grow during the pandemic.
The market is expected to observe good growth due to the increasing burden of cardiovascular, neurology, and urology disorders, increasing usage of minimally invasive procedures, and the rising demand for antimicrobial catheters. The rising chronic disorders have become the most dominant cause of mortality and morbidity globally. According to the World Health Organization in June 2021, the number of deaths due to cardiovascular diseases in 2019 is 17.9 millioin worldwide, representing 32% of all global deaths. The alarming number of cardiac deaths has led to an increasing number of cardiac surgeries, which has increased the usage of catheters in the market and accelerated the market growth.
According to the Brain Aneurysm Foundation in March 2021, globally, approximately 500,000 deaths are caused by brain aneurysms every year, and half of such individuals are aged 50 years or below. The annual rate of rupture is around 8-10 persons per 100,000 or about 30,000 people in the United States. Thus, with the increasing prevalence of neurovascular disorders, there is also a rising use of neurovascular catheter devices.
Furthermore, the growing demand for minimally invasive procedures is expected to increase the demand for catheters in the market. These procedures have increased the patients’ preference for minimally invasive procedures, which is expected to favor the market growth. In addition, rising initiatives from the key market players for the lauch of their products is expected to propel the market growth further. For instance, in July 2021, Medtronic plc (has launched its Prevail drug coated balloon (DCB) Catheter in Europe following CE (Conformité Européene) mark. The newest coronary DCB on the market, the Prevail DCB is used during percutaneous coronary intervention (PCI) procedures to treat narrowed or blocked coronary arteries in patients with coronary artery disease (CAD). This will lead to increased adoption of such catheters to treat cardiovascular disease will the benefit of rising minimally invasive procedure trends.
Hence, with the increasing number of chronic surgeries being performed due to rising cases of chronic diseases, there is an increase in demand for catheters, which may drive the market.
A urinary catheter is found to be necessary for a person facing difficulty passing urine naturally. The segment is expected to show high growth during the forecast period as these products are used for patients who suffer from urological disorders.
The rising cases of COVID-19 have resulted in significant disruptions globally and are expected to have a slight impact on urinary catheters. Urinary catheters were being used for surgical applications and are expected to be impacted to some extent due to the temporary postponement of various elective surgeries, as authorities seek to ensure the availability of resources for COVID-19 patients. However, due to the rising infection rate, there were still few launches that have helped in the stable market growth.
According to the study “Prevalence and associated factors of urinary incontinence in women living in China: a literature review” published in October 2020, there are about 43-349 million Chinese women that have experienced urinary incontinence (UI). UI has a significant impact on women's physical and mental health and quality of life. The growing prevalence of urinary incontinence and an increasing number of surgical procedures are the major factors driving the growth of urinary catheters.
In addition, rising approvals for the urinary catheters by the international regulatory agencies is futher expected to boost this segment growth during the forecast period. For instance, in November 2021, the United States Food and Drug Administration has given clearance to FLUME catheter in the United States. The new Flume catheter features an advanced balloon design, even though intended for the same use as a Foley catheter.Moreover, favorable reimbursement policies and increasing urinary disorders are the key factors leading to the enhanced demand for urinary catheters. Thus, owing to the abovementioned factors, the urology segment is expected to show growth over the forecast period.
The North American region is expected to hold a significant market share in the catheters market during the forecast period. The United States is expected to dominate the market due to the high government support for medical devices and an increasing number of surgeries. The other factors driving the market growth include the increasing prevalence of urological disorders, cardiovascular disorders, and the rising preference for minimally invasive procedures due to less operative time and few complications.
According to the American Cancer Society, the estimated new cases of bladder cancer in Americans in 2020 were around 81,400, and about 17,980 deaths occurred due to it in the United States. This will lead to increased adoption of catheters during the treatment of bladder cancer, thereby driving the market growth in this region.
Rising initiatives from the key market players for the launch of novel products are further expected to drive the market in this region. For instance, in March 2022, Cerus Endovascular has received the United States Food and Drug Administration (FDA) clearance for its 027 micro-catheters, available in two lengths, expanding its product portfolio which includes the already FDA cleared 021 micro-catheter platform.
Hence, the rapid increase in the patient pool in the United States tends to increase the demand for catheters, which drives the overall growth of the market.
The catheters market is highly competitive, as there has been a wide number of companies that are increasing their focus on developing advanced catheters that will provide growth opportunities. These numerous manufacturers collaborate with major medical device distributors to market and supply their products globally or in certain countries. Various established business players are also adopting numerous organic and inorganic growth strategies to increase their market shares. Also, the various product launches, mergers and acquisitions, and collaborations are the key strategies undertaken by these companies for sustainable growth. Some of the major players in this market include, B. Braun Melsungen AG, Coloplast, ConvaTec Group, Hollister Incorporated, Medtronic PLC, Teleflex, Boston Scientific Corporation, among others.
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The rising COVID-19 pandemic across the world and the lockdown situation are expected to have a significant impact on the market due to on-hold services, such as treatment, diagnostic, and surgical services, to prevent the spread of COVID-19 disease. The increasing number of COVID-19 cases all around the world has helped in increasing the number of in-patient admissions. As governments and healthcare institutions are found to increase efficient medical treatment to treat COVID-19 patients, the usage of catheters will behold an upsurge in hospitals and emergency clinics. Patients with suspected or confirmed diagnoses of COVID-19 are being treated with catheters, and hence, the demand for these devices may remain huge throughout the pandemic. For instance, in April 2020, Bactiguard introduced a new urinary catheter, BIP Foley TempSensor for continuous temperature monitoring. The company reported that in the pandemic situation, it has a urinary catheter combined with integrated temperature monitoring and infection control. Such technological advancements may help the market grow during the pandemic.
The market is expected to observe good growth due to the increasing burden of cardiovascular, neurology, and urology disorders, increasing usage of minimally invasive procedures, and the rising demand for antimicrobial catheters. The rising chronic disorders have become the most dominant cause of mortality and morbidity globally. According to the World Health Organization in June 2021, the number of deaths due to cardiovascular diseases in 2019 is 17.9 millioin worldwide, representing 32% of all global deaths. The alarming number of cardiac deaths has led to an increasing number of cardiac surgeries, which has increased the usage of catheters in the market and accelerated the market growth.
According to the Brain Aneurysm Foundation in March 2021, globally, approximately 500,000 deaths are caused by brain aneurysms every year, and half of such individuals are aged 50 years or below. The annual rate of rupture is around 8-10 persons per 100,000 or about 30,000 people in the United States. Thus, with the increasing prevalence of neurovascular disorders, there is also a rising use of neurovascular catheter devices.
Furthermore, the growing demand for minimally invasive procedures is expected to increase the demand for catheters in the market. These procedures have increased the patients’ preference for minimally invasive procedures, which is expected to favor the market growth. In addition, rising initiatives from the key market players for the lauch of their products is expected to propel the market growth further. For instance, in July 2021, Medtronic plc (has launched its Prevail drug coated balloon (DCB) Catheter in Europe following CE (Conformité Européene) mark. The newest coronary DCB on the market, the Prevail DCB is used during percutaneous coronary intervention (PCI) procedures to treat narrowed or blocked coronary arteries in patients with coronary artery disease (CAD). This will lead to increased adoption of such catheters to treat cardiovascular disease will the benefit of rising minimally invasive procedure trends.
Hence, with the increasing number of chronic surgeries being performed due to rising cases of chronic diseases, there is an increase in demand for catheters, which may drive the market.
Key Market Trends
The Urology Catheters Segment is Expected to Hold a Major Revenue Share During the Forecast Period
A urinary catheter is found to be necessary for a person facing difficulty passing urine naturally. The segment is expected to show high growth during the forecast period as these products are used for patients who suffer from urological disorders.
The rising cases of COVID-19 have resulted in significant disruptions globally and are expected to have a slight impact on urinary catheters. Urinary catheters were being used for surgical applications and are expected to be impacted to some extent due to the temporary postponement of various elective surgeries, as authorities seek to ensure the availability of resources for COVID-19 patients. However, due to the rising infection rate, there were still few launches that have helped in the stable market growth.
According to the study “Prevalence and associated factors of urinary incontinence in women living in China: a literature review” published in October 2020, there are about 43-349 million Chinese women that have experienced urinary incontinence (UI). UI has a significant impact on women's physical and mental health and quality of life. The growing prevalence of urinary incontinence and an increasing number of surgical procedures are the major factors driving the growth of urinary catheters.
In addition, rising approvals for the urinary catheters by the international regulatory agencies is futher expected to boost this segment growth during the forecast period. For instance, in November 2021, the United States Food and Drug Administration has given clearance to FLUME catheter in the United States. The new Flume catheter features an advanced balloon design, even though intended for the same use as a Foley catheter.Moreover, favorable reimbursement policies and increasing urinary disorders are the key factors leading to the enhanced demand for urinary catheters. Thus, owing to the abovementioned factors, the urology segment is expected to show growth over the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
The North American region is expected to hold a significant market share in the catheters market during the forecast period. The United States is expected to dominate the market due to the high government support for medical devices and an increasing number of surgeries. The other factors driving the market growth include the increasing prevalence of urological disorders, cardiovascular disorders, and the rising preference for minimally invasive procedures due to less operative time and few complications.
According to the American Cancer Society, the estimated new cases of bladder cancer in Americans in 2020 were around 81,400, and about 17,980 deaths occurred due to it in the United States. This will lead to increased adoption of catheters during the treatment of bladder cancer, thereby driving the market growth in this region.
Rising initiatives from the key market players for the launch of novel products are further expected to drive the market in this region. For instance, in March 2022, Cerus Endovascular has received the United States Food and Drug Administration (FDA) clearance for its 027 micro-catheters, available in two lengths, expanding its product portfolio which includes the already FDA cleared 021 micro-catheter platform.
Hence, the rapid increase in the patient pool in the United States tends to increase the demand for catheters, which drives the overall growth of the market.
Competitive Landscape
The catheters market is highly competitive, as there has been a wide number of companies that are increasing their focus on developing advanced catheters that will provide growth opportunities. These numerous manufacturers collaborate with major medical device distributors to market and supply their products globally or in certain countries. Various established business players are also adopting numerous organic and inorganic growth strategies to increase their market shares. Also, the various product launches, mergers and acquisitions, and collaborations are the key strategies undertaken by these companies for sustainable growth. Some of the major players in this market include, B. Braun Melsungen AG, Coloplast, ConvaTec Group, Hollister Incorporated, Medtronic PLC, Teleflex, Boston Scientific Corporation, among others.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- B. Braun Melsungen AG
- Coloplast
- ConvaTec Group
- Hollister Incorporated
- Medtronic PLC
- Teleflex
- Boston Scientific Corporation
- Biotronik
- Abbott Laboratories
- Edwards Lifesciences Corporation
- Johnson & Johnson (DePuy Synthes)
- Terumo Corporation
- Becton, Dickinson and Company (C.R. Bard)
Methodology
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