Europe Urinary Catheters Market Size to Surpass USD 2.32 billion by 2030, exhibiting a CAGR of 7.4%
As per the report by Fortune Business Insights, the Europe urinary catheters market size is projected to reach USD 2.32 billion by 2030, at a CAGR of 7.4% during the forecast period
Europe Urinary Catheters Market
Pune, India, Oct. 18, 2023 (GLOBE NEWSWIRE) — The Europe urinary catheters market size touched USD 1.32 billion in 2022 and is predicted to reach USD 1.41 billion in 2023 and it is anticipated to touch USD 2.32 billion by 2030, recording a CAGR of 7.4% over the projected period.
According to various regional studies, aging increases the chances of developing different bladder-associated disorders, such as urine leakage, benign prostate hyperplasia, urine retention, and others. Hence, the growing geriatric population is accelerating the market expansion. A rise in surgical operations is boosting the adoption of urinary catheters. Fortune Business Insights™ shares this information in its report titled “Europe Urinary Catheters Market, 2023-2030.”
Key Industry Development
April 2023: Wellspect HealthCare (Dentsply Sirona) introduced the use of bioplastic in a female urinary catheter, “LoFric Elle.” It replaces conventional fossil-based raw materials and reduces the carbon footprint by 55%.
- The growth of the market is being driven by the increasing prevalence of urinary incontinence and other urological disorders, the rising demand for minimally invasive procedures, and the technological advancements in AI.
- The market is segmented by product type, application, and end-user.
- The key players in the market are Coloplast, BARD, Medtronic, Boston Scientific, and Cook Medical.
- These companies are investing in research and development, new product development, and mergers and acquisitions to maintain their competitive edge in the market.
- The market is facing some challenges, such as the high cost of AI-powered urinary catheters, the lack of awareness about AI-powered urinary catheters, and the need for more clinical data.
Discover the Leading Players Featured in the Report:
Companies leading the Europe Urinary Catheters Market are Coloplast A/S (Denmark), B. Braun Melsungen AG (Germany), Hollister Incorporated (U.S.), Medline Industries, LP (U.S.), Clinisupplies Ltd. (U.K.), Boston Scientific Corporation (U.S.), Convatec Group PLC (U.K.), Teleflex Incorporated (U.S.).
|Forecast Period||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR||7.4%|
|2030 Value Projection||USD 2.32 Billion|
|Market Size in 2023||USD 1.41 Billion|
|No. of Pages||145|
|Segments Covered||By Product, Application, Gender, End-user & Region|
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/europe-urinary-catheters-market-101442
Drivers and Restraints
Increasing Surgical Procedures to Accelerate Market Growth
Urinary catheters make it easier to measure urine production. The output urine measurement is an indirect indicator of the patient’s renal, cardiovascular, and fluid condition both during and after surgery. A rise in patients undergoing surgeries to avoid urinary incontinence or urine retention is driving the market growth.
However, the infection caused by urinary catheters can lead to severe complications such as endocarditis and sepsis in patients with extended hospital stays. CAUTIs are the most common risk with indwelling catheters and are reported as Hospital-acquired Infections (HAI).
- Indwelling Catheters
- Intermittent Catheters
- External Catheters
- Urinary Incontinence
- Benign Prostatic Hyperplasia (BPH)
- Age Care Centers
- U.K. (By Product, By Application, By Gender, By End-User)
- Germany (By Product, By Application, By Gender, By End-User)
- France (By Product, By Application, By Gender, By End-User)
- Italy (By Product, By Application, By Gender, By End-User)
- Spain (By Product, By Application, By Gender, By End-User)
- Sweden (By Product)
- Netherlands (By Product)
- Switzerland (By Product)
- Poland (By Product)
- Ukraine (By Product)
- Portugal (By Product)
- Rest of Nordic (By Product)
- Rest of Europe (By Product)
Quick Buy – Europe Urinary Catheters Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101442
Intermittent Catheters Segment Led the Market Due to their Different Benefits
By product, the market is classified into indwelling catheters, intermittent catheters, and external catheters.
Intermittent catheters led the market due to increasing introductions of innovative and more discreet intermittent catheters and several benefits of intermittent catheters are boosting segment growth. Major market participants are engaged in creating eco-friendly intermittent catheters. A rise in strategic partnerships to offer novel intermittent catheters is fostering the segment growth.
Rising Prevalence of the Urinary Incontinence Boosted Segment Growth
On the basis of application, the market is divided into urinary incontinence, benign prostatic hyperplasia (BPH), surgery, and others.
The urinary incontinence segment registered the largest market share in 2022. The segment growth is attributed to the growing prevalence of urinary incontinence among the population. Increasing catheter demand for urinary incontinence treatment is driving the segment expansion.
Increasing Demand for Urinary Catheters among Males Fueled the Segment Expansion
In terms of gender, the market is categorized into male and female.
The male segment accounted for the highest market share during the projected period. The increasing prevalence of urological diseases, such as prostate cancer and benign prostate hyperplasia, among males is driving the segment growth. The wide accessibility of non-invasive urinary catheters is boosting the adoption rate among men.
Increase in Hospital Stays for Surgeries Boosted the Segment Growth
Based on end-user, the market is segregated into hospitals, age care centers, and others.
Hospitals held the highest revenue in the market over the projected years. The segment growth is attributed to increasing incidences of different urological disorders requiring surgeries and hospital stays. Hospitalization rates are rising for surgeries related to chronic illnesses and injuries Furthermore, increasing hospital admissions for surgeries associated with injuries and chronic disorders where a patient’s mobility is restricted also contributes to segment growth.
Growing Prevalence of Urolithiasis to Favor Market Growth in Germany
Germany is expected to dominate the Europe urinary catheters market share over the projected period. A rise in surgeries and the growing prevalence of urolithiasis are driving market growth in Germany.
Italy is set to be the second major market in terms of revenue by 2030. The growing incidence of urological cancers and a rise in the aging population are contributing to market growth.
Top Market Players Focus on Collaborations to Expand their Customer Base
Leading companies in the market include Teleflex Incorporated, B. Braun Melsungen AG, Hollister Incorporated, BACTIGUARD AB, and others. Key market players are implementing different tactics and focusing on product introductions. This is expected to boost market growth in the coming years.
In December 2020, to make its infection-prevention products available for the urinary tract, bloodstream, and others in Spain, BACTIGUARD AB partnered with Libera Medica S.LS.L.
How big is the Europe Urinary Catheters Market?
The Europe Urinary Catheters Market size is USD 1.41 billion in 2023. It is expected to reach USD 2.32 billion by 2030.
How fast is the Europe Urinary Catheters Market growing?
The Europe Urinary Catheters Market will exhibit a CAGR of 7.4% during the forecast period 2023-2030.
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