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Description
Urinary Catheters Market size was valued at USD 3.36 billion in 2021, growing at a CAGR of 6.52% during the forecast period 2022-28. The urinary catheters market report owing to the rise in a number of surgeries and high demand for minimally invasive procedures. In addition, increase in geriatric population base and rise in demand for sterile & disposable catheters supplement the market growth. Increasing prevalence of urinary diseases. Less invasive procedures are a cost effective alternative to open medical procedures owing to shorter hospital stays, minimal scarring and least post procedure complications boost the growing demand for Urinary Catheters globally. Worldwide, a large number of individuals suffer from cardiovascular, urological, and neurological disorders require hospitalization, which generally requires catheterization for the patients. According to the World Health Organization (WHO), more than 200 million individuals suffer from some form of bladder control problem that requires urinary catheterization. According to the National Health Service (NHS) of the U.K., approximately 3 million to 6 million people were suffering from some degree of urinary incontinence in the U.K. in 2013. As per current statistics of National Health and Nutrition Examination Survey (NHANES) and National Kidney Foundation, on an average one out of every eight adult American shows evidence of chronic kidney diseases (CKD). Several players in the market are investing heavily to develop differentiator products that will further intensify competition, especially among local players. Another noticeable growth trend in the market is acquisitions by means of which companies are not only expanding their shares but also strengthening their position across various geographies. for example, TE Connectivity Corporation, acquired Advanced Catheters in February 2015 to enhance its medical business and strengthen its position in the medical industry which is expanding at a fast pace.
