US catheters market is expected to grow at a CAGR of nearly 8.2% during the forecast period. The major factors encouraging the growth of the market in the region include the increasing number of multi-specialty hospitals and the increasing number of urologic clinics coupled with the increasing number of urologists is estimated to drive the demand for urinary flow meters in hospitals and clinics. For instance, as per the American Urological Association, in the US, the national urologist-to-population ratio increased to 3.89 per 100,000 populations in 2017, up from 3.85 in 2016. This rising number of urologists is expected to increase the possibilities for opening of new urologic clinics, which in turn, will drive the adoption of urinary catheters which is a tube inserted in the body to drain the bladder.
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Rising aging population leads to the rise in the incidences of urinary disorders in the country. As per the Population Reference Bureau (PRB), the number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population will rise from 16% to 23%. With the growing ageing population, the prevalence of urinary conditions, especially in the elderly, is expected to increase. For instance, lower urinary tract dysfunction, including benign prostatic hyperplasia and urinary incontinence is prevalent in aged persons. Therefore, a significant rise in the ageing population is another factor encouraging the demand for urinary catheters across hospitals and clinics.
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The major companies operating in the region include Abbott Laboratories, Inc., Boston Scientific Corp., and Johnson & Johnson Services, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in May 2018, Abbott Laboratories, Inc. expands portfolio of cardiac arrhythmias with FDA clearance for the Advisor HD Grid Mapping Catheter, Sensor Enabled. The purpose to develop this product was to offer innovative solutions to the physicians to accurately and quickly map complex cardiac arrhythmias among patients.
US Catheters Market- Segmentation
By Product Type
- Cardiovascular Catheters
- Urological Catheters
- Intravenous Catheters
- Specialty Catheters
- Neurovascular Catheters
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
