Global Urological Catheters Market to Reach $2.7 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Urological Catheters market. The global urological catheters market is projected to reach $2.7 billion by the year 2015, led by an aging global population, and rising incidence of urinary continence. Further, technological advancements and the advent of sophisticated catheters capable of minimizing invasion and reducing complications are expected to fuel market growth.

Urological Catheters: A Global Strategic Business Report

Urological catheters are widely used in hospitals, nursing homes, and home care settings. The market holds enormous growth potential owing to an aging worldwide population, which is likely to contribute to the growth in incidence of urinary incontinence that requires medical intervention. The urological catheter industry, being a technology driven industry, is expected to grow led by the advent of advanced technology products. The availability of biocompatible materials such as silicone and polymer mixes as substitutes for latex materials are offering more comfort to patients and reducing painful insertion. Further, the use of coatings such as teflon, anti-microbial and lubricious coatings is facilitating prevention of bacterial growth on catheters, thereby reducing the incidence of catheter-associated infections.

The urological catheters market, similar to other medical device markets fared better than several other industries owing to the recession, which is attributed to the factors such as expanding proportion of the elderly, and rising life expectancies and rising demand for rapidly developing third world countries. The dialysis industry too continues to witness steady growth, exhibiting immunity to the global economic slowdown. The industry’s ability to register growth even in adverse economic conditions is largely attributed to continuous rise in the number of patients suffering from chronic kidney failure and the sustained efforts being made by governments across the world to provide adequate healthcare to this expanding patient population.

The United States and Europe dominate the global market for urological catheters, as stated by the new market research report on urological catheters. Though developed countries with superior medical infrastructure dominate the overall catheter industry, the market for urological catheters is a mass market with burgeoning demand for low-priced catheters featuring easy-to-use operations coming from developing countries of Asia, Eastern Europe, and Latin America. Asia-Pacific, representing the fastest growing market for urological catheters, is forecast to grow at a compounded annual rate of more than 6.0% over the analysis period.

Urological or renal catheter industry comprises of two broad segments, urinary catheters and dialysis catheters. Foley catheter or indwelling catheter is gradually losing share to intermittent catheters due to its non-invasiveness, thereby offering lower risk of contracting catheterization-related infection, a serious complication with the prolonged use of indwelling catheters. Intermittent cauterization is also driven by the trend towards self-catheterization.

The US market for dialysis products is led by the significantly higher prevalence of renal failure cases, mainly attributed to the dietary habits of people. The rising number of patients afflicted with chronic kidney failure is a major driving factor for the US dialysis products market. Further, the rising incidence of diabetes diseases such as diabetes, cardiovascular diseases, and diabetes among kidney patients is contributing to higher mortality in this patient group. The US market for hemodialysis catheters is likely to reach US$161.9 million by 2012.

Major players profiled in the report include Boston Scientific Corp., C R Bard Inc., Coloplast A/S, Cook Urological Inc., Covidien Ltd., Hollister Inc., and Rochester Medical Corporation.

The report titled “Urological Catheters: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a review of market trends, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics for regions including the United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. The study analyzes market data and analytics in terms of sales (unit and value).

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Urological_Catheters_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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