Research Nester published a report titled “Urinary Collection Device Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global urinary collection device market in terms of market segmentation by product, materials, gender, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global urinary collection device market is anticipated to grow with a CAGR of 5.40% during the forecast period, i.e., 2021-2030. The market is segmented product into urine sample system, urinary catheter, urine bags, and accessories, out of which, the urinary catheter segment is expected to generate the largest revenue of USD 1704.0 Million by the end of 2030, up from a revenue of USD 1029.1 Million in the year 2020.
The global urinary collection device market is estimated to garner a revenue of USD 4469.6 Million by the end of 2030, up from a revenue of USD 2655.0 Million in the year 2020. Growing concern for the rising prevalence of chronic diseases, which is one of the major risk factors for urinary incontinence, followed by the rising ageing population globally, and the increasing demand for urinary collection devices, such as catheters from hospitals, are some of the major factors anticipated to drive the market growth in the coming years.
The global urinary collection device market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in North America region is expected to garner the largest revenue of USD 2143.1 Million by the end of 2030, up from a revenue of USD 1295.6 Million in the year 2020. On the other hand, in Europe, the market is expected to generate the second-largest revenue of USD 1061.6 Million by the end of 2030.
The research is global in nature and covers detailed analysis on the market 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). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Prevalence of Chronic Disorders Worldwide
Chronic diseases, such as diabetes mellitus, Parkinson’s disease, dementia, stroke, prostatic cancer, COPD and arthritis among others, are associated with urinary incontinence. These diseases raise the risk of urinary incontinence, which is projected to drive the demand for urinary collection devices. Moreover, the rising prevalence of urinary incontinence is also anticipated to drive the market growth. The prevalence of urinary incontinence reported in population-based studies, according to a report by the World Health Organization (WHO), ranged from 9.9% to 36.1%, and was seen to be higher in older women as in older men.
However, the complications with the use of catheter device and the shortage of clinical experts and professional physicians are expected to operate as key restraint to the growth of global urinary collection device market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global urinary collection device market which includes company profiling of 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. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global urinary collection device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.