Global Urinary Collection Device Market TOC
Regionally, the global urinary collection device market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. 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. Rising concern for the increasing prevalence of chronic disease in countries, such as the United States, along with the presence of a strong healthcare network in the region are some of the major factors anticipated to drive the market growth. According to the statistics by the United States Centers for Disease Control and Prevention (CDC), 6 in 10 adults in the United States were known to have a chronic disease.
The market in Europe, on the other hand, is expected to generate the second-largest revenue of USD 1061.6 Million by the end of 2030. The market in the region is further divided by country into Germany, UK, France, Italy, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in Germany is expected to generate the largest revenue of USD 198.7 Million by the end of 2030, up from a revenue of USD 113.7 Million in the year 2020.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, 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).
The global urinary collection device market is segmented by product into urine sample system, urinary catheter, urine bags, and accessories. Out of these, 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. By materials, the market is segmented into silicone, latex, rubber, and others. Out of these, the latex segment is expected to generate the largest revenue of USD 1642.9 Million by the end of 2030, up from USD 992.9 Million in the year 2020. By gender, the market is segmented into male and female. Out of these, the female segment is expected to generate the largest revenue by the end of 2030, while the male segment is expected to grow with the highest CAGR of 5.49% during the forecast period. By end-user, the market is segmented into hospitals, clinics, home care settings, and others. Out of these, the hospitals segment is expected to generate the largest revenue of USD 2227.9 Million by the end of 2030.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global urinary collection device market that are included in our report are 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.
July 8th, 2021: Medline Industries, Inc., an organization which offers customers a broad range of Foley catheter tray options, announced that it has come into a distribution partnership with RenalSense Ltd. for the distribution of its patient monitoring system, Clarity RMS. This monitoring system by Medline is known for measuring the urine flow of patients continuously.
March 3rd, 2021: Boston Scientific Corporation announced that it would acquire the surgical business of Lumenis LTD, a company whose business line includes premier laser systems, fibers and accessories used for urology and otolaryngology procedures.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The growing prevalence of urinary incontinence, and the rising incidences of chronic disorders are some of the major factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 5.40% over the forecast period, i.e., 2021 – 2030.
Ans: The complications with the use of catheter device and the shortage of clinical experts and professional physicians are estimated to hamper the market growth.
Ans: The market in North America region is expected to garner the largest revenue of USD 2143.1 Million by the end of 2030 and display significant business opportunities.
Ans: The major players in the market are Teleflex Incorporated, Hollister Incorporated, Amsino International, Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Medline Industries, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, materials, gender, end-user, and by region.
Ans: The urinary catheter segment is expected to generate the largest revenue of USD 1704.0 Million by the end of 2030 and display significant growth opportunities.