Aging Population and Rising Incidence of Incontinence Drive the Urological Catheters Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) February 04, 2015 -- Follow us on LinkedIn – Urological catheters find widespread use in the healthcare industry. The rapidly aging population is resulting in increasing incidence of urological conditions that require catheterization. The United States, Western Europe, and Japan with rapidly aging societies are at the forefront of global growth in the market. Increase in the number of hospital admissions of the elderly and rise in surgical procedures performed on the old and sick are driving sales of urological catheters. Innovative technologies, products, and procedures are constantly fueling growth in the market. Manufacturers are testing and developing newer catheter material compositions that help improve user pre and post-catheterization comfort. Antimicrobial coatings are also growing in importance, given their ability to prevent the formation of biofilms and crusts. The catheter market is witnessing an increase in the frequency of catheter changes, due to the huge economic impact of Catheter Associated Urinary Tract Infection (CAUTI). Reducing CAUTI is fast becoming a priority for the healthcare sector in developed economies. Antimicrobial-coated catheters are helpful in preventing Hospital Acquired Infections (HAI).
As stated by the new market research report on Urological Catheters, Europe represents the largest market worldwide. While Western economies with cutting edge medical infrastructure dominate the global market for dialysis and urinary catheters, emerging economies in Asia-Pacific, Latin America, and Eastern Europe are expected to drive future growth. Major healthcare reforms, infrastructure development, improving reimbursements for procedures requiring catheterization, are factors driving growth in these markets. Asia-Pacific ranks as the fastest growing market with a CAGR of 12.3% in dollar terms over the analysis period.
Urinary catheters dominate the market, led by Intermittent Catheters. Intermittent catheter sales are driven by the migration towards single-use catheters, along with the increasing trend for self-catheterization. Europe remains a major geographic market for intermittent catheters. Though the Europe dwarfs the United States in terms of sales volume and revenues, the US market is benefitting tremendously from the positive changes in Medicare policy for catheter reimbursements. The global market for dialysis catheters is driven by the growing patient population suffering from End-Stage Renal Disease (ESRD). Hemodialysis catheters constitute the largest and fastest-growing segment of the global dialysis catheters market. Hemodialysis catheters for use in home settings are expanding, owing to increasing number of dialysis patients preferring treatment at home.
Key players covered in the report include AngioDynamics Inc., B. Braun Melsungen AG, Boston Scientific Corp., C R Bard Inc., Coloplast A/S, Cook Medical Inc., Medtronic Plc., Fresenius Medical Care AG & Co. KGaA, Hollister Inc., Medline Industries Inc., Olympus Corporation, Teleflex Inc., and Wellspect HealthCare, among others.
The research report titled “Urological Catheters: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the United States, Canada, Japan, Europe (comprising France, Germany, Italy, the United Kingdom, Spain, Russia, and Rest of Europe markets), Asia-Pacific (comprising China and Rest of Asia-Pacific markets), The Middle East, and Latin America. Key segments analyzed include Dialysis Catheters (Hemodialysis Catheters and Peritoneal Catheters) and Urinary Catheters (Foley Catheters, Intermittent Catheters, and External/Condom Catheters). The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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