Global urinary catheters market was valued at USD 1.66 billion in 2013 and is expected to grow at a CAGR of 5.1% from 2014 to 2020, to reach an estimated value of USD 2.37 billion in 2020.

Albany, NY -- (SBWire) -- 07/27/2016 --Acquisitions and takeovers to expand the geographical reach is the primary growth model that top players in the urinary catheters market are focused on, points a TMR analyst. On the way to expand their geographical presence, top players in the global urinary catheters market are adding some innovative companies along with their advanced technologies to their product portfolio. Focus on innovation and ploughing profits into research and development is another growth strategy adopted by top players in this market in a bid to gain a competitive advantage in the medical devices market.

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Global Rise in Median Population Age Favors Market Growth

The global urinary catheters market is primarily driven by the increasing incidence of urinary incontinence, multiple sclerosis, dementia, and urine retention disorders. Worldwide, a large number of individuals suffer from cardiovascular, urological, and neurological disorders require hospitalization, which generally requires catheterization for the patients. According to the World Health Organization (WHO), more than 200 million individuals suffer from some form of bladder control problem that requires urinary catheterization. Hence, a large number of individuals would need urinary catheters in some instance during their lifetime.

An increase in the median age of the global population is also propelling the demand for urinary catheterization. Other than this, an increasing demand for technologically advanced urinary catheters and catheter systems is also fuelling the growth of the global urinary catheters market.

"Worldwide, an increasing number of catheter-associated urinary tract infections is impeding the growth of this market," says a TMR analyst. Presently, hospital-acquired infections are a major concern for healthcare institutions, of which urinary tract infection (UTI) is a prominent one. According to the Centers for Diseases Control and Prevention, almost 80% of catheter-associated urinary tract infections are caused due to catheterization that uses indwelling urinary catheters. This will result in the limited use of these catheters, especially in regions that register a high number of hospital-acquired infections. Due to these reasons, some developed regions are switching from conventional catheters to intermittent catheters.

North America Leads the Global Urinary Catheter Market

Intermittent catheters dominated the global urinary catheters market on the basis of product in 2013, the segment held more than 58% of the overall market in the same year. Intermittent catheters are preferred in most healthcare settings in Western countries, as they have a negligible chance of infection as compared to indwelling catheters. The Foley catheters segment also accounts for a significant revenue contribution to the global market.

North America is the leading market for urinary catheters due to the high demand for this equipment from the U.S. and Canada. However, Asia Pacific will emerge as a significant market for urinary catheters due to the modernization of the healthcare infrastructure in China and India.

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