Market growth is driven mainly by factors such as the growing prevalence of urinary incontinence, an increasing number of surgical procedures across the globe, high incidence of prostate cancer, and the favorable reimbursement scenario. The emerging Asian countries are also expected to offer substantial growth opportunities for players in the market.
The global Urinary catheters market size is projected to reach USD 2.6 billion by 2025 from USD 2.0 billion in 2020, at a CAGR of 5.5% during the forecast period.
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The global urinary catheters market is highly consolidated. The prominent players operating in this market include B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Coloplast Ltd. (Denmark), ConvaTec Inc. (UK), Becton, Dickinson and Company (US), Cardinal Health (US), Teleflex Incorporated (US), Wellspect HealthCare (US), and Cook Medical (US). Players in this market focused on product launches, partnerships, agreements, collaborations, and acquisitions to develop and expand their market presence. Between 2017 and 2020, product launches and approvals formed the key growth strategy adopted by players such as Becton, Dickinson and Company (US), ConvaTec Inc. (UK), Cook Medical (US), and B. Braun Melsungen AG (Germany).
Coloplast Ltd. (Denmark) is one of the prominent players in the urinary catheters market in 2019. The company’s portfolio of intermittent catheters covers a wide range of devices—from uncoated catheters to discreet, compact coated catheters that are ready to use in saline solutions. In the past three years, the company has increased R&D investment from 3% to 4% of its overall revenue and intends to maintain the same level of investment in the future as well. From January 2017 to June 2020, the company focused on acquisitions as its growth strategy. It acquired IncoCare Gunhild Vieler GmbH (Germany) and SAS Lilial (France) in 2018 and 2017, respectively. By acquiring IncoCare Gunhild Vieler GmbH (Germany), the company strengthened its position in Germany, primarily for in-home care continence supplies. By acquiring SAS Lilial (France), it strengthened its position in France, primarily for catheter and ostomy supplies.
Becton, Dickinson and Company (US) is a leading manufacturer of urinary catheters, owing to its wide geographical presence, long-term market presence, and its established product portfolio for urinary catheters. In 2017, the company acquired C.R. Bard, which strengthened its urology product offerings. A substantial amount of the company’s revenue is generated from operations outside the US, and the company continues to pursue growth opportunities in foreign markets, especially in emerging markets, including Eastern Europe, the Middle East, Africa, Latin America, and certain countries within Greater Asia
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ConvaTec Group Plc is one of the major players in the urinary catheters market, especially for intermittent catheters. The company provides a diverse portfolio of intermittent urinary catheters that are used by people who catheterize to drain urine from the bladder. GentleCath is one of the major products in the company’s Continence and Critical Care portfolio. The company focuses on innovating and expanding the GentleCath intermittent catheter portfolio to cover a broad range of needs, along with expanding the me+ platform for intermittent catheter users.