The size of the United States catheters market is estimated to be growing at a significant rate during the forecast period.
The major factors driving the growth of the U.S. catheters market include the increasing number of multi-specialty hospitals and the increasing number of urology clinics. The growing number of urologists is believed to be driving the demand for urine flow meters in the region. For example, according to the American Urological Association, in the United States, the national ratio of urologists to population rose to 3.99 per 100,000 population in 2019, from 3.80 in 2018. This growing number of Urologists should increase the chances of opening new urological clinics, which will promote the adoption of urinary catheters.
The increasing aging of the population leads to an increase in the incidence of urinary disorders in the United States. According to the Population Reference Office, the number of Americans aged 65 and over is expected to double from 54 million in 2019 to 96 million by 2060. The share of those aged 65 and over in the total population will rise from 18% to 24%. With the increasing aging population, the prevalence of urinary tract disorders is expected to increase, especially among the elderly. For example, lower urinary tract dysfunction, including benign prostatic hyperplasia and urinary incontinence, is common in the elderly. Therefore, a significant increase in the aging of the population is another factor driving the demand for urinary catheters in hospitals and clinics.
According to the World Health Organization (2019), cardiovascular disease deaths have increased by more than 2.59 million since 2015, reaching almost 9.69 million worldwide. The alarming number of deaths has led to an increase in the number of heart surgeries which has increased the use of catheters in the market and thus accelerated the growth of the market. In addition, the increasing levels of reimbursement policies and advancements in catheter technology are expected to create lucrative opportunities for the catheter market in the near future.
However, inadequate quality assurance and domestic price competition are expected to hamper this growth. In addition, the risk of infections due to the use of catheters has also become a major restricting factor for the U.S. catheters market. Further, product failures & recalls, unfavorable tax regulations, and trade restrictions are expected to hamper the growth of this market during the forecast period.
Impact of COVID-19 on the U.S. catheters market:
With the growing COVID-19 pandemic worldwide and the lockdown situation, it is expected to have a significant impact on the market due to watching services, such as treatment, diagnostic and surgical treatments, to prevent the spread of COVID-19 disease. With the spread of COVID-19, the scare about the shortage of essential life-saving devices and other essential medical supplies and the demand to provide optimal care for those infected are also increasing. In addition, the growing number of COVID-19 cases around the world has helped increase the number of hospital admissions.
As governments and healthcare facilities find themselves increasingly treated and effective in treating COVID-19 patients, the use of catheters is expected to see an increase in hospitals and emergency clinics.
This research report on the U.S. catheters market has been segmented and sub-segmented into the following categories.
By Distribution Channel:
Geographically, the United States market dominated the global market in 2020, accounting for the largest market share, and is expected to maintain this trend throughout the forecast period. This is attributed to the significant increase in the prevalence of cardiovascular and urological diseases, the increase in the prevalence of nosocomial infections (HAIs), and other lifestyle-induced diseases in this region. Moreover, the rapid development of innovative technologies such as intravascular imaging catheters, antimicrobial-resistant catheters, and others with better characteristics are helping the growth of the catheter market in this region.
KEY MARKET PLAYERS:
Boston Scientific Corporation, Medtronic, Becton, Dickinson and Company, Abbott, B. Braun Melsungen AG, ConvaTec Group PLC, Coloplast Group, Cook Medical, Edwards Lifesciences Corporation, Johnson & Johnson Services, Merit Medical Systems, Stryker Corporation, Terumo Corporation, Teleflex Incorporated, Hollister Incorporated, AMG International GmbH, Simeks Tibbi Ürünler, Alvimedica, Medinol Ltd and Amsino International, Inc. are a few of the significant companies operating in the U.S. catheters market.
U.S. Catheters Market