Asian, Latin American urinary catheters market to grow at CAGRs of 4.7% and 4.6% respectively
According to a report published by Persistence Market Research, the global urinary catheters market is likely to grow at a CAGR of 4.1% reaching USD 1,755 million from USD 1,377.5 million over 2015–2021. The report also states that Asian and Latin American markets will expand at a CAGR of 4.7% and 4.6% respectively during the forecast period. Increasing geriatric population, suitable reimbursement policies and rising requirement for advanced urinary catheters are the major factors driving the market growth. However, increasing cases of urinary tract infections and the threat from substitutes may restrict the market growth. The urinary catheter market had contributed 5.1% of the global catheter market, USD 25,895.6 in 2014 and reported revenue of USD 1,326 million. B. Braun, Coloplast, CR Bard, Teleflex, Boston Scientific, Covidien, Hollister and Cook Medical are the major global players of the urinary catheters market.
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