The scope of products of indwelling catheters has widened, as it is used to treat various neurological, urological, and other disorders, with the help of improved clinical practices and advanced technologies. Diagnosis, prevention, and treatment is a prime focus of healthcare departments across geographies. Catheterization is a basic co-procedure along with various medical procedures that include, neurosurgery, angioplasty, urological disorders, and specialty catheters; indwelling catheters being a key component in the above procedures. Hence, using ancillary medical devices such as indwelling catheters to treat diseases makes it a lucrative market globally.
List of Key Players
The key players operating in the global indwelling catheters market include Amsino International, Inc, Bactiguard, B. Braun Melsungen AG, Becton, Dickinson and Company, Cardinal Health Inc., Teleflex Incorporated, Coloplast, Medline Industries, Inc., Cook Medical, Inc., Sunmed, Llc.
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Most of the markets are dropping down, owing to the outbreak, including the indwelling catheters market. The global indwelling catheters market is negatively impacted by the pandemic as most countries adopted lockdown to combat the pandemic. In addition, most of the leading companies across the globe have slow down the manufacturing of other vaccines. Furthermore, the individual contributions companies are collaborating to accelerate the development, manufacture, and delivery of vaccines, diagnostics, and treatments for COVID-19
Rise in cases of urological diseases, kidney stones, UTI, diabetes and growth in demand for minimally invasive procedures boosts the growth of the indwelling catheters market. Furthermore, technologically advanced indwelling catheters manufactured with infection resistant coating, minimize catheter-associated infections. Thus, these are preferred by customers (healthcare professionals), which leads to the growth of the indwelling catheter market. Reimbursement plays a vital role to raise the utilization rate of catheters. Increase in reimbursement levels from 4 to 200 catheters per patient per month by Medicare and Medicaid systems in the U.S. particularly for the indwelling catheters contributes to the increase in the utilization rates of catheters in all healthcare set-ups. However, price competition in domestic/local markets, catheter causing infection and inadequate quality assurance hamper the growth of the indwelling catheters market.
In terms of product, the global indwelling catheters market has been classified into 2-way catheters, 3-way catheters, and 4-way Catheters. Furthermore, based on coating type, the global indwelling catheters market has been categorized into hydrogel coating, silver alloy coating, silicone-elastomer, and others. The hydrogel coating segment dominated the global market in 2019, as hydrogel coated indwelling catheters are highly popular, and bonded hydrogel-coated latex catheters are more durable than silicone catheters since their hydrogel coating prevents bacterial adherence and reduces mucosal friction. Hydrogels or polymers coat the catheter, absorbing water to produce a slippery outside surface.
In terms of application, the global indwelling catheters market has been bifurcated into post-surgical care, critical care, urinary incontinence and benign prostate hyperplasia. The post-surgical care segment is expected to expand at a high CAGR from 2020 to 2027. Increase in usage of indwelling catheters among ICU & critically injured patients in hospitals and rise in the number of ICU admissions are likely to drive the segment during the forecast period.
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In North America, the U.S. indwelling catheters market has garnered a dominant share due to the technological advancements, government regulations, rise in incidences of healthcare associated infections (HAI), and increased awareness among the patients and the caregivers. Furthermore, the Asia-Pacific market accounted for the highest CAGR in the forecast period. In Asia-Pacific, key countries included are India, Japan, China, and Australia. Of the stated, China and India collectively constitute large patient-bases of kidney diseases, urological, and other diseases, which boost the volume growth of the market. In addition, increase in healthcare expenditure, improvement in healthcare infrastructure, and growth in medical tourism fuel the growth of the indwelling catheters market.
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