Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Urinary Collection Device Market Overview
Urinary collection devices are designed to be used by patients who are suffering from various diseases such as interstitial cystitis and overflow incontinence issues. These devices help patients to manage urinary output and urinary incontinence.
Market Size and Forecast
Global urinary collection devices market is expected to flourish at a compound annual growth rate (CAGR) of 5.5 % over the forecast period i.e. 2017-2024. Further, rising occurrence of urologic diseases is a major factor which is envisioned to drive the growth of urinary collection devices market over the forecast period. The number of patients who are suffering from issues such as urinary incontinence is increasing, especially in women and this factor is fuelling the demand for urinary collection devices across all regions.
In terms of region, global urinary collection devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America grabbed major market shares of global urinary collection devices in 2015 and is expected to maintain this dominance over the forecast period owing to factors such as high prevalence of urologic diseases in this region fuelled by increasing occurrence of chronic kidney disease. Increasing geriatric population is also a major factor which is predicted to escalate the growth of urinary collection devices market during the forecast period.
However, Asia Pacific region is anticipated to witness a robust growth over the forecast period due to increasing number of patients suffering from urinary incontinence issue. Further, large population base and increasing occurrence of urologic diseases are some of the factors which are expected to bolster the growth of market in upcoming years. Apart from this, growing healthcare infrastructure in Asian countries such as India and China and rising prevalence of chronic diseases are major reasons which are likely to intensify the demand for urinary collection devices in this region in near future.
Additionally, urinary collection device market is segmented by product type into urine sample system, urinary catheter, urine bags and accessories. Urinary catheter segment is further sub-segmented into indwelling catheter, intermittent catheter and external catheter. Further, intermittent catheter by urinary catheter is projected to capture major market share by the end of forecast period due to its benefits such as safe operation, easy use and less chances of infection.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis has segmented global urinary collection device market into the following segments:
By Product Type
By Material
By Demography
By End User
By Region
Global urinary collection device market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Factors such as rising prevalence of chronic diseases and increasing number of bed bound patients are likely to be the major drivers of global urinary collection device market over the forecast period. Rapid penetration of diseases is a key factor which is increasing the number of patients who are very weak and cannot even move easily. Further, the demand for urinary collection devices is expected to increase from the bedridden patients who are no longer able to use standard toilets.
Further, growing geriatric population across the globe and high prevalence of chronic diseases in older generation is expected to strengthen the demand for urinary collection devices in near future. Additionally, the demand for urinary collection device is increasing due to increasing number of home care patients.
Apart from this, high prevalence of urinary incontinence amongst female population is also a major factor which is strengthening the market of urinary collection device globally. Further, increasing prevalence of urologic diseases such as urinary tract infections, prostate cancer and bladder cancer are fuelling the demand for urinary collection devices.
However, presence of other alternatives such as portable urinal, complications associated with wear of device and chances of infection are challenges which may adversely affect the growth of global urinary collection devices market in future.
Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global urinary collection device market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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