The Silicone Based Catheters Market Growth driven by the rise in the prevalence of urinary tract infections, rapid increase in the use of silicone-based catheters for hospitalized patients in the developing regions, and the growing focus on new product launches by major players.

New York, March 30, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Silicone Based Catheters Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application [Urinary Tract Infection (UTI)/Catheter Acquired Urinary Tract Infection (CAUTI), Surgery on Contiguous Structures of Genitourinary Tract, Prostate Gland Surgery, Spinal Cord Injury, and Others], Usage (Male, Female, and Pediatric), Tip (Nelaton Tip and Tiemann Tip), Product Type (Short-Term Foley Catheters, Long-Term Foley Catheters, and Others), Type (2 Way Sizes: 6 to 26 Fr and 3 Way Sizes: 16 to 26 Fr), and End User (Hospitals, Nursing Homes and Clinics, Ambulatory Surgical Centers, and Others)”, the global silicone based catheters market is projected to reach US$ 240.905 million by 2028 from US$ 150.866 million in 2021; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.

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Report Coverage	Details
Market Size Value in	US$ 150.866 Million in 2021
Market Size Value by	US$ 240.905 Million by 2028
Growth rate	CAGR of 6.9% from 2021 to 2028
Forecast Period	2021-2028
Base Year	2021
No. of Pages	225
No. Tables	166
No. of Charts & Figures	83
Historical data available	Yes
Segments covered	Application, Usage, Tip, Product Type, Type, and End User
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Silicone Based Catheters Market: Competition Landscape and Key Developments
Ribbel International Limited, Angiplast, Sterimed Group, MAIS India, C.R. Bard, Bactiguard AB, Teleflex Incorporated, B.Braun Melsungen AG., MEDASIL, and Convatec Inc. are among the key companies operating in the silicone based catheters market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.

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In September 2019, ConvaTec Group Plc. signed an agreement to purchase the assets of Southlake Medical Supplies, Inc., a Texas-based independent provider of catheter-related supplies. For the year ended December 31^st, 2018, Southlake delivered revenues of US$5.0 million.

In May 2019, Bactiguard published, randomized, controlled multicenter study in India showed that urinary catheters with Bactiguard’s coating for infection prevention reduce the risk of catheter-associated urinary tract infections (CAUTI) by 69 % compared to standard catheters.       

The prevalence of urinary incontinence is increasing across the world. According to the National Institutes of Health (2016), 617 million people globally are aged 65 and above. The elderly population is expected to grow significantly in Africa, followed by North America, Latin America and the Caribbean, and Asia Pacific. The burden of urinary incontinence grows with the increasing elderly population across the world. According to a report published by the Centers for Disease Control and Prevention (CDC) 2014, nearly 44% of people aged 65 and above reported bladder incontinence in the US. Similarly, according to a report published by age in the UK in 2018, around 3.2 million people aged over 65 are suffering from urinary incontinence. Thus, the increasing prevalence of urinary incontinence propels the growth of the silicone-based catheters market. Also, the rising number of prostate gland surgeries is the second-leading factor that fuels the growth of the market.

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The incidence of chronic diseases, such as diabetes, cardiovascular diseases (CVDs), cancer, stroke, bladder cancer, prostate cancer, and kidney diseases, is increasing across the globe. As per the World Health Organization (WHO), cardiovascular diseases are the leading cause of mortality and result in the deaths of 17.9 million people every year globally. Moreover, according to the International Diabetes Federation's Diabetes Atlas 9th edition 2019, 463 million adults aged 20–79 years had diabetes in 2019, and the number is projected to reach 700 million by 2045. Such a high prevalence of chronic conditions is expected to drive the number of surgical procedures, ultimately boosting the silicone-based catheters market in the coming years.

Additionally, by application, the overall market has been segmented into prostate gland surgery, urinary tract infection (UTI)/catheter acquired urinary tract infection (CAUTI), surgery on contiguous structures of genitourinary tract, prostate gland surgery, spinal cord injury, and others. The urinary tract infection (UTI)/catheter acquired urinary tract infection (CAUTI) segment held the largest share in 2021 and is expected to continue a similar trend over the forecast period owing to rising geriatric population. The prostate gland surgery segment accounted for the second-largest share in the global silicone based catheters market in 2021 owing to the proliferation in the incidence rate of prostate cancer. Additionally, black men in the US and Caribbean have the highest documented prostate cancer incidence rates in the world. Thus fueling the silicone based catheters market across the globe.

Moreover, in 2021, Asia Pacific was the fastest-growing region among all other regions. The silicone based catheters market in the region is expected to grow due to the high adoption rate of silicone catheters in China and Japan and the development of favorable reimbursement scenario in Asian countries. Moreover, the collaboration with international market players and foreign direct investments in India are expected to bolster the growth of the market in Asia Pacific during the forecast period.

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Moreover, favorable reimbursement scenario in the US is driving the growth of the silicone based catheters market by increasing the adoption of the silicone-based catheters during various surgical procedures. Medicaid provides reimbursement to a person for 120 intermittent catheters per month. Similarly, Medicare reimbursement coverage allows the patients to be reimbursed with maximum 200 single use sterile intermittent catheters per month. Thus, the above-mentioned factors are expected to propel the global market growth during the forecast period.

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