Global Urinary Collection Device Market Highlights Over 2020 - 2030
The global urinary collection device market is estimated to garner a revenue of USD 4469.6 Million by the end of 2030 by growing with a CAGR of 5.40% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 2655.0 Million. The growth of the market can be attributed to the rising utilization of these devices amongst patients suffering from urinary incontinence, and for the increasing prevalence of chronic disorders amongst individuals worldwide. Several chronic conditions and environmental factors increase the risk of urinary incontinence in older people. Chronic diseases that are associated with urinary incontinence include diabetes mellitus, Parkinson’s disease, dementia, stroke, prostatic cancer, COPD and arthritis among others. The rising incidences of these diseases is expected to raise the risk of urinary incontinence, and in turn, drive the demand for urinary collection devices. According to a report by the World Health Organization (WHO), the prevalence of urinary incontinence reported in population-based studies ranged from 9.9% to 36.1%. Moreover, the prevalence was higher in older women as in older men.
Besides this, the growing geriatric population worldwide, along with the increasing number of surgeries performed, and the advancements in medical device technologies are some of the additional factors projected to drive the market growth.
CLICK TO DOWNLOAD SAMPLE REPORT
Global Urinary Collection Device Market Regional Synopsis
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).
Growth Drivers and Challenges Impacting the Growth of the Global Urinary Collection Device Market
Growth Drivers
- Growing Prevalence of Urinary Incontinence
- Rising Incidences of Chronic Disorders
Challenges
- Complications with the Use of Catheter Device
- Shortage of Clinical Experts and Professional Physicians
Global Urinary Collection Device Market Segmentation Synopsis
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.
Top Featured Companies Dominating The Market
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.
