New York, Feb. 09, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the World Health Organization (WHO), around 1.5 Million deaths in the year 2019, were directly caused due to diabetes. On the other hand, according to the statistics by the Parkinson’s Foundation, the number of people living with Parkinson’s disease (PD) is expected to rise to 1.2 Million by 2030 in the United States. Moreover, according to the statistics by the Alzheimer’s Disease International, the number of people with dementia is expected to grow up to 139 Million by the end of 2050, up from 55 Million in the year 2019. Furthermore, according to the statistics by the American Heart Association, in the year 2019, the global prevalence of stroke was 101.5 Million people.
Research Nester has recently released a report on “Urinary Collection Device Market: Global Demand Analysis & Opportunity Outlook 2020-2030” which includes a detailed analysis of the key market players, along with several key matrices, such as pricing analysis, value chain analysis, and industry risk analysis among others, which are associated with the market growth during the forecast period, i.e., 2021-2030. The report also focuses on the primary market dynamics, along with the key market opportunities and the major roadblocks for market growth in the coming years.
Urinary incontinence, which is defined by the involuntary loss of urine, is a prevalent condition amongst the geriatric population. Several chronic conditions and environmental factors, including chronic diseases, such as stroke, Parkinson’s disease, diabetes mellitus, and COPD among others, increase the risk of urinary incontinence in older people. In other statistics by the WHO, the prevalence of urinary incontinence reported in population-based studies, ranged from 9.9% to 36.1%. The prevalence of the condition, according to the report, was also known to be as high in older women as in older men. The surge in the prevalence of urinary incontinence amongst individuals worldwide is expected to drive the demand for urinary collection devices, and in turn, boost the market growth.
The global urinary collection device market, which generated a revenue of USD 2655.0 Million in the year 2020, is further projected to touch USD 4469.6 Million by the end of 2030, by growing with a CAGR of 5.40% during the forecast period. The market is also anticipated to grow on account of the growing utilization of these devices amongst patients suffering from kidney diseases, backed by the surge in the number of kidney patients. According to the statistics by the National Kidney Foundation, in the year 2018, 785883 people in the United States had kidney failure and required dialysis or a kidney transplant. Moreover, around 130,000 people, in the same year in the country, started kidney failure with replacement therapy (KFRT) treatment. Besides this, the rising number of ageing populations worldwide is also expected to boost market growth in the coming years. According to the statistics by the World Bank, the population aged 65 and above as a share of the total population, increased from 9.099% in the year 2019 to 9.318% in the year 2020.
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Regionally, the global urinary collection device market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst all these segments, the market in North America generated the largest revenue of USD 1295.6 Million in the year 2020 and is further projected to touch USD 2143.1 Million by the end of 2030, by growing with a CAGR of 5.23% during the forecast period. The market in the region is further segmented by country into the United States and Canada. Out of the market in these countries, the market in the United States is projected to garner the largest revenue of USD 1215.6 Million by the end of 2021, and further grow with the highest CAGR of 5.24% during the forecast period.
On the other hand, the market in Europe is projected to generate the second-largest revenue of USD 1061.6 Million by the end of 2030, up from a revenue of USD 621.3 Million in the year 2020. The market in the region is also expected to grow with the second-highest CAGR of 5.54% during the forecast period. The market in the region is further segmented by country into Germany, UK, France, Italy, Spain, Russia, Netherlands, and the Rest of Europe, out of which, the market in Germany generated the largest revenue of USD 113.7 Million in the year 2020, and is further expected to touch USD 198.7 Million by the end of 2030, by growing with the highest CAGR of 5.78% during the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global urinary collection device market is segmented by materials into silicone, latex, rubber, and others. Amongst all these segments, the latex segment registered the largest revenue of USD 992.9 Million in the year 2020 and is further estimated to reach USD 1642.9 Million by the end of 2030, by growing with a CAGR of 5.22% during the forecast period. In North America, the segment is expected to generate the largest revenue of USD 792.6 Million by the end of 2030, up from USD 484.6 Million in the year 2020. Moreover, in Europe, the segment is expected to touch USD 387.8 Million by the end of 2030.
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The global urinary collection devices market is further segmented by end-user into hospitals, clinics, home care settings, and others. Amongst all these segments, the hospitals segment generated the largest revenue of USD 1329.2 Million in the year 2020 and is further projected to garner a revenue of USD 2227.9 Million by the end of 2030, by growing with a CAGR of 5.35% during the forecast period. In North America, the hospitals segment is expected to generate the largest revenue of USD 1080.4 Million by the end of 2030, up from a revenue of USD 653.8 Million in the year 2020. Meanwhile, in the Asia Pacific, the hospitals segment is expected to grow with a CAGR of 6.15% during the forecast period.
The global urinary collection device market is also segmented on the basis of product, and by gender.
Global Urinary Collection Device Market, Segmentation by Product
- Urine Sample System
- Urine Sample Container
- Urine Sample Tube
- Urine Sample Bottle
- Urinary Catheter
- Indwelling Catheter
- Foley Catheter
- Suprapubic Catheter
- Intermittent Catheter
- External Catheter
- Indwelling Catheter
- Urine Bags
- Urinary Leg Bags
- Urinary Drainage Bags
- Urinary Belly Bags
- Accessories
Global Urinary Collection Device Market, Segmentation by Gender
- Male
- Female
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Some of the prominent industry leaders in the global urinary collection device market that are included in our report are Teleflex Incorporated, Hollister Incorporated, Amsino International, Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Medline Industries, Inc., Becton, Dickinson and Company (BD), Wihuri Packaging Oy, and others.
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