By 2017, the urological catheters market is expected to be worth more than $3 billion, according to a new report available on companiesandmarkets.com. Factors contributing to this robust growth include the rising incidence and diagnosis of urological conditions, advancements in catheter technology, and an increasingly aging population.
According to the report, "Urological Catheters: A Global Strategic Business Report," urological catheters are used across all medical settings, from hospitals to nursing homes, to treat urological conditions such as urinary incontinence, and conduct dialysis. The market is split into two segments: urinary and dialysis catheters. Urinary catheters include Foley catheters, intermittent catheters, and external/condom catheters, while dialysis catheters include hemodialysis catheters and peritoneal catheters.
Intermittent catheters (ICs) are increasing market share for a number of reasons. Medicare now offers patients reimbursement for up 200 catheters a month, while patients and medical professionals are selecting ICs for their non-invasive functionality, which considerably reduces the risk of infection.
Innovation is a key part of the urological catheters market, and the industry is currently focused on making improvements to catheter efficiencies, catheter failures, and reducing the potential for infection.
With their advanced medical infrastructures, the established European and U.S. markets control the urological catheters industry, although the emerging markets will experience more rapid growth over the reporting period. The dialysis catheter market is dominated by the U.S., while Europe holds a larger share of intermittent catheters.