New York, Jan. 24, 2023 (GLOBE NEWSWIRE) -- According to a recent study by Persistence Market Research (PMR), the global Intermittent Catheters Market is anticipated to exhibit steady growth over the coming years. The market is expected to grow from a valuation of US$ 1.6 Bn in 2021 to around US$ 2.6 Bn by 2032.
Currently, manufacturers of intermittent catheters are focusing on creating technologically enhanced products that can decrease UTIs and enable urologists provide patients with better urological care and treatment. Major businesses are currently concentrating on introducing intermittent urinary catheters made with hydrophilic technology to increase the antibacterial qualities of these products.
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To fulfil growing physician demand for these kinds of devices, key businesses are more inclined to design and produce catheters coated in Teflon, silicon elastomer, and antimicrobial compounds. Increasing demand for advanced intermittent catheters to reduce the incidence of infections is driving the demand for intermittent catheters. Sales are also rising due to advancements in healthcare settings and the rising volumes of surgical procedures. This is primarily due to patients' requirements to drain urine and maintain an empty bladder during or after surgical procedures.
Governments around the world are concentrating on improving the reimbursement policies for caregivers and patients who use intermittent catheters. These policies allow for the complete or partial reimbursement of expenses for urinary continence items such as intermittent catheters and absorbent products, through both public and private insurance schemes.
- Medicaid program – introduced by the U.S. government – allows patients to reimburse 120 intermittent (short-term) catheters per month.
The need for intermittent catheters grew during the COVID-19 outbreak. The cause for this was an increase in the number of patients admitted to hospitals for COVID-19 and related disorders.
Key Companies-
- Boston Scientific Corporation
- Medtronic plc.
- Hollister Incorporate
- Braun Melsungen AG
- Coloplast A/S
- Becton, Dickinson and Company
- Teleflex Incorporation
- Cook Medical
- ASID BONZ GmbH
- Hunter Urology Ltd.
- McKesson Corp.
- Medline Industries LP
- Pennine Healthcare
- Romsons
- Convatec
- Flexicare and more
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Key Takeaways from Market Study
- By product, coated intermittent catheters held 64.5% share of the global market in 2021.
- By application, prostate gland surgery accounted for 38% of the global market share in 2021.
- By end user, hospitals held a market share of 41.6% in 2021.
- North America leads the intermittent catheters market with 37.8% share.
“Increasing prevalence of urinary incontinence and growing surgical procedures are expected to drive the demand for intermittent catheters over the decade,” says an analyst of Persistence Market Research.
Market Competition
Some of the major producers of intermittent catheters are concentrating on product launches, partnerships, and acquisitions with the goal of worldwide expansion to improve their market presence.
- In March 2021, ConvaTec, Inc. acquired Cure Medical, a manufacturer of intermittent catheters.
- In Aug 2019, Cook Medical launched a new 2.6 Fr CXI support catheter with platinum-iridium marker bands.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the intermittent catheters market in its latest study, presenting a historical demand assessment of 2012-2021 and projections for 2022-2032. The global intermittent catheters market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on product (coated intermittent catheters, uncoated intermittent catheters), application (urinary incontinence, urinary retention, prostate gland surgery, spinal cord injury, others), and end user (hospitals, surgical centers, specialty clinics, academic & research institutions), across seven key regions of the world.
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