The Indwelling Catheters Market To Prove Its Servility To Technological Advancements

According to a recent study by Persistence Market Research, the global indwelling catheters market is anticipated to witness high growth at 6.4% CAGR and be valued at over US$ 13.5 Bn by 2031.

Demand for indwelling catheters is surging with increasing geriatric population. With increasing age, the immune system becomes weak and people become more prone to illnesses and suffer from different diseases such as cancer and kidney diseases.

According to Population Reference Bureau data of 2019, Japan, Italy, Greece, Portugal, and Germany are the top five countries with 28.2%, 22.8%, 21.8%, 21.8%, and 21.4%, respectively, of population over 65 years of age.

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With ever-increasing number of hospitals and surgeries, sales of indwelling catheters are also increasing in parallel. This is mainly because during or post-surgical procedures, there is the need to drain urine and keep the bladder empty.

Also, demand for indwelling catheter increased during the COVID-19 pandemic. This is primarily due to the increased number of patients admitted in hospitals seeking treatment for COVID-19 and its associated diseases. Thus, there was a positive impact of COVID-19 on the demand for indwelling catheters.

Company Profiles:

Teleflex Incorporated
Cardinal Health
B. Braun Melsungen AG
Coloplast
Medtronic
ConvaTec, Inc
Sterimed Group
Becton, Dickinson and Company
McKesson Medical
Poiesis Medical
COOK Medical
Smiths Medical
Rocket Medical plc

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Key Takeaways from Market Study

By product, peripheral intravenous catheters hold 66% market share in 2021.
By material, tetrafluorethylene-hexafluoropropylene (Teflon) accounts for 49.8% market share, because of its less frictional property which helps in easy insertion.
By packaging, single strip packs of indwelling catheters account for 62.2% of the market share in 2021.
By end user, hospitals account for 52.2% market share in due to rising number of patient's getting admitted to hospitals.
By region, North America held the largest market share of 47.9% due to the presence of key players in the region.
"Rising prevalence of urinary incontinence and increasing surgical procedures expected to drive demand for indwelling catheters over the decade," says a Persistence Market Research analyst.

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This release was published on openPR.