September 09, 2022 07:23 ET | Source: Research and Markets Research and Markets
Dublin, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The "Global Urinary Catheter Market, By Material, By Product Type, By Type, Application, By Distribution Channel & By Region - Forecast and Analysis 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global urinary catheter market was valued at USD 2212.97 Million in 2021, and it is expected to reach a value of USD 2941.94 Million by 2027, at a CAGR of more than 4.86% over the forecast period (2022 - 2027).
Increased incidence of urinary tract infections (UTIs) and urethral obstructions, rising cases of malignancies in the urinary tract or reproductive organs, and a fast growing geriatric population are some of the primary drivers driving market growth. A urinary catheter is a semi-flexible tube used to drain urine from the bladder.
Plastic, rubber, and silicon are among the materials used in the manufacture of these catheters. Urine catheters are recommended by doctors for patients suffering from urinary incontinence (UI), urinary retention, prostate surgery, or other medical disorders such as spinal cord damage, multiple sclerosis, or dementia. The prevalence of urinary incontinence is common in the elderly population. The rise in the elderly population worldwide is expected to propel the urinary catheter market. According to the United Nations, the global elderly population (over the age of 65) is projected to double to 1.5 billion by 2050.
People aged 60 and older make up 12.3% of the global population, and by 2050, that number will rise to almost 22%.
Hence, such an increased prevalence of the severe disease is likely to create a wide scope for the growth of the market in the upcoming years. The report provides market sizing and forecast across five major regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period. Aspects covered in this report
In the competitive landscape, the report studies the growth strategies adopted by the companies. Players in this market adopted various strategies to expand their global footprint and augment their market share. The key strategies followed by most companies in the global urinary catheter market were agreements and collaborations, mergers and acquisitions, and expansion.
For more information about this report visit https://www.researchandmarkets.com/r/78n6ng